ETHA vs. IBIT

Last updated Jul 14, 2026

ETHA (iShares Ethereum Trust ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds from iShares - ETHA tracks the CME CF Ether Dollar Reference Rate - New York Variant while IBIT tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, ETHA returned -41.36% vs -47.60% for IBIT. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

ETHA vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Ethereum Trust ETF (ETHA) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHA achieves a -40.39% return, which is significantly lower than IBIT's -29.06% return.

ETHA

• 1D: -1.18%
• 1M: 6.36%
• 6M: -42.96%
• YTD: -40.39%
• 1Y: -41.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -2.79%
• 1M: -2.28%
• 6M: -32.10%
• YTD: -29.06%
• 1Y: -47.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETHA vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHA iShares Ethereum Trust ETF	-40.39%	-11.31%	-4.89%
IBIT iShares Bitcoin Trust ETF	-29.06%	-6.41%	36.27%

Correlation

The correlation between ETHA and IBIT is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.82

The correlation between ETHA and IBIT has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Return for Risk

ETHA vs. IBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETHA

ETHA Risk / Return Rank: 5
ETHA Sharpe Ratio Rank: 4
ETHA Sortino Ratio Rank: 5
ETHA Omega Ratio Rank: 5
ETHA Calmar Ratio Rank: 4
ETHA Martin Ratio Rank: 5

IBIT

IBIT Risk / Return Rank: 1
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 1
IBIT Omega Ratio Rank: 1
IBIT Calmar Ratio Rank: 1
IBIT Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETHA vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.61	-1.08	+0.47
Sortino ratio: Return per unit of downside risk	-0.63	-1.65	+1.03
Omega ratio: Gain probability vs. loss probability	0.93	0.82	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.61	-0.90	+0.28
Martin ratio: Return relative to average drawdown	-0.96	-1.46	+0.49

ETHA vs. IBIT - Sharpe Ratio Comparison

The current ETHA Sharpe Ratio is -0.61, which is higher than the IBIT Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of ETHA and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETHA vs. IBIT - Drawdown Comparison

The maximum ETHA drawdown since its inception was -67.91%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for ETHA and IBIT.

Drawdown Indicators

	ETHA	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-67.91%	-53.30%	-14.61%
Max Drawdown (1Y) Largest decline over 1 year	-67.91%	-53.30%	-14.61%
Current Drawdown Current decline from peak	-63.46%	-50.60%	-12.86%
Average Drawdown Average peak-to-trough decline	-34.47%	-17.56%	-16.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.04%	32.72%	+10.32%

Volatility

ETHA vs. IBIT - Volatility Comparison

iShares Ethereum Trust ETF (ETHA) has a higher volatility of 16.27% compared to iShares Bitcoin Trust ETF (IBIT) at 11.51%. This indicates that ETHA's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHA	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.27%	11.51%	+4.76%
Volatility (6M) Calculated over the trailing 6-month period	47.22%	34.79%	+12.43%
Volatility (1Y) Calculated over the trailing 1-year period	68.50%	44.38%	+24.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.14%	49.97%	+22.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.14%	49.97%	+22.17%

ETHA vs. IBIT - Expense Ratio Comparison

Both ETHA and IBIT have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ETHA vs. IBIT - Dividend Comparison

Neither ETHA nor IBIT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHA and IBIT in my portfolio?

ETHA and IBIT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHA or IBIT?

ETHA has higher volatility (16.27%) compared to IBIT (11.51%). In terms of maximum drawdown, ETHA dropped -67.91% vs IBIT's -53.30%.

Which ETF is better, ETHA or IBIT?

On 1-year performance, ETHA leads with -41.36% vs -47.60% for IBIT. Both ETFs have the same 0.25% expense ratio. On volatility, IBIT has been the lower-risk option at 11.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHA or IBIT?

Over the 1-year period, ETHA has performed better with a -41.36% return vs -47.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHA or IBIT?

ETHA and IBIT have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, ETHA or IBIT?

ETHA and IBIT have nearly identical dividend yields, around 0.00%.

What is the main difference between ETHA and IBIT?

ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant.

Which has better risk-adjusted returns?

ETHA currently has the higher Sharpe Ratio (-0.61 vs -1.08), 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.