ETHA vs. GLD
ETHA (iShares Ethereum Trust ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past year, ETHA returned -34.33% vs 22.21% for GLD. At a 0.12 correlation, their price movements are largely independent. ETHA charges 0.25%/yr vs 0.40%/yr for GLD.
Performance
ETHA vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -43.96% return, which is significantly lower than GLD's -2.47% return.
ETHA
- 1D
- -1.02%
- 1M
- -27.59%
- YTD
- -43.96%
- 6M
- -45.98%
- 1Y
- -34.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLD
- 1D
- 0.06%
- 1M
- -9.52%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
ETHA vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -43.96% | -11.31% | -4.89% |
GLD SPDR Gold Shares | -2.47% | 63.68% | 9.17% |
Correlation
The correlation between ETHA and GLD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.12 |
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Return for Risk
ETHA vs. GLD — Risk / Return Rank
ETHA
GLD
ETHA vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and SPDR Gold Shares (GLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ETHA | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.18 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 0.98 | -1.55 |
| Martin ratioReturn relative to average drawdown | -0.98 | 2.81 | -3.79 |
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Drawdowns
ETHA vs. GLD - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.56%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for ETHA and GLD.
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Drawdown Indicators
| ETHA | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.56% | -45.56% | -22.00% |
Max Drawdown (1Y)Largest decline over 1 year | -67.56% | -24.46% | -43.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.46% | — |
Current DrawdownCurrent decline from peak | -65.65% | -22.05% | -43.60% |
Average DrawdownAverage peak-to-trough decline | -33.25% | -16.16% | -17.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.22% | 8.49% | +30.73% |
Volatility
ETHA vs. GLD - Volatility Comparison
iShares Ethereum Trust ETF (ETHA) has a higher volatility of 17.30% compared to SPDR Gold Shares (GLD) at 7.79%. This indicates that ETHA's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHA | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.30% | 7.79% | +9.51% |
Volatility (6M)Calculated over the trailing 6-month period | 46.58% | 24.10% | +22.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.29% | 27.37% | +41.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.65% | 18.22% | +54.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.65% | 16.08% | +56.57% |
ETHA vs. GLD - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is lower than GLD's 0.40% expense ratio.
Dividends
ETHA vs. GLD - Dividend Comparison
Neither ETHA nor GLD has paid dividends to shareholders.
Frequently Asked Questions
ETHA and GLD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (17.30%) compared to GLD (7.79%). In terms of maximum drawdown, ETHA dropped -67.56% vs GLD's -45.56%.
On 1-year performance, GLD leads with 22.21% vs -34.33% for ETHA. On fees, ETHA is cheaper at 0.25% per year. On volatility, GLD has been the lower-risk option at 7.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GLD has performed better with a 22.21% return vs -34.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHA is cheaper with a 0.25% expense ratio, compared with 0.40% for GLD.
ETHA and GLD have nearly identical dividend yields, around 0.00%.
ETHA is categorized as Cryptocurrency, while GLD is Gold. ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant, while GLD tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for ETHA and 0.40% for GLD.
GLD currently has the higher Sharpe Ratio (0.87 vs -0.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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