ETHA vs. NEHI
ETHA (iShares Ethereum Trust ETF) and NEHI (NEOS Ethereum High Income ETF) are both Cryptocurrency funds. ETHA is passively managed, while NEHI is actively managed. With a 0.98 correlation, they move nearly in lockstep. ETHA charges 0.25%/yr vs 0.98%/yr for NEHI.
Performance
ETHA vs. NEHI - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -40.30% return, which is significantly lower than NEHI's -36.78% return.
ETHA
- 1D
- -1.40%
- 1M
- -25.20%
- YTD
- -40.30%
- 6M
- -43.67%
- 1Y
- -32.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NEHI
- 1D
- -1.50%
- 1M
- -23.11%
- YTD
- -36.78%
- 6M
- -38.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA vs. NEHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETHA iShares Ethereum Trust ETF | -40.30% | -5.44% |
NEHI NEOS Ethereum High Income ETF | -36.78% | -3.02% |
Correlation
The correlation between ETHA and NEHI is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025 | 0.98 |
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Return for Risk
ETHA vs. NEHI — Risk / Return Rank
ETHA
NEHI
ETHA vs. NEHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and NEOS Ethereum High Income ETF (NEHI). 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.
| ETHA | NEHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.96 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | — | — |
| Martin ratioReturn relative to average drawdown | -0.86 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETHA | NEHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | -1.10 | +0.68 |
Drawdowns
ETHA vs. NEHI - Drawdown Comparison
The maximum ETHA drawdown since its inception was -64.02%, which is greater than NEHI's maximum drawdown of -43.46%. Use the drawdown chart below to compare losses from any high point for ETHA and NEHI.
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Drawdown Indicators
| ETHA | NEHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.02% | -43.46% | -20.56% |
Max Drawdown (1Y)Largest decline over 1 year | -63.41% | — | — |
Current DrawdownCurrent decline from peak | -63.41% | -43.46% | -19.95% |
Average DrawdownAverage peak-to-trough decline | -32.71% | -25.23% | -7.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.94% | — | — |
Volatility
ETHA vs. NEHI - Volatility Comparison
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Volatility by Period
| ETHA | NEHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.93% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 45.48% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 68.51% | 57.19% | +11.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.46% | 57.19% | +15.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.46% | 57.19% | +15.27% |
ETHA vs. NEHI - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is lower than NEHI's 0.98% expense ratio.
Dividends
ETHA vs. NEHI - Dividend Comparison
ETHA has not paid dividends to shareholders, while NEHI's dividend yield for the trailing twelve months is around 24.72%.
| Position | TTM | 2025 |
|---|---|---|
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% |
NEHI NEOS Ethereum High Income ETF | 24.72% | 2.87% |
Frequently Asked Questions
With a correlation of 0.98, ETHA and NEHI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ETHA is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETHA is cheaper with a 0.25% expense ratio, compared with 0.98% for NEHI.
NEHI has the higher dividend yield at 24.72%, compared with 0.00% for ETHA.
They also come from different issuers: iShares and Neos. Their fees differ too: 0.25% for ETHA and 0.98% for NEHI.
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