ETHE.SW vs. BTC-USD
ETHE.SW (CoinShares Physical Ethereum (ETH)) is Cryptocurrency fund actively managed by CoinShares, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, ETHE.SW returned -9.76%/yr vs 8.57%/yr for BTC-USD. At a 0.30 correlation, their price movements are largely independent.
Performance
ETHE.SW vs. BTC-USD - Performance Comparison
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Different Trading Currencies
ETHE.SW is traded in CHF, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to CHF using the latest available exchange rates.
Returns By Period
In the year-to-date period, ETHE.SW achieves a -40.20% return, which is significantly lower than BTC-USD's -27.97% return.
ETHE.SW
- 1D
- -3.21%
- 1M
- -24.23%
- YTD
- -40.20%
- 6M
- -44.92%
- 1Y
- -33.81%
- 3Y*
- -5.22%
- 5Y*
- -9.76%
- 10Y*
- —
BTC-USD
- 1D
- -1.45%
- 1M
- -21.09%
- YTD
- -27.97%
- 6M
- -32.42%
- 1Y
- -41.68%
- 3Y*
- 28.93%
- 5Y*
- 8.57%
- 10Y*
- 56.44%
ETHE.SW vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETHE.SW CoinShares Physical Ethereum (ETH) | -40.20% | -20.51% | 53.68% | 63.54% | -65.25% | 129.07% |
BTC-USD Bitcoin | -27.97% | -18.10% | 139.43% | 130.71% | -63.59% | -6.56% |
Correlation
The correlation between ETHE.SW and BTC-USD is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | 0.30 |
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Return for Risk
ETHE.SW vs. BTC-USD — Risk / Return Rank
ETHE.SW
BTC-USD
ETHE.SW vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Ethereum (ETH) (ETHE.SW) and Bitcoin (BTC-USD). 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.
| ETHE.SW | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.85 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | -0.82 | +0.27 |
| Martin ratioReturn relative to average drawdown | -0.94 | -1.44 | +0.50 |
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
| ETHE.SW | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | -0.97 | +0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | 0.16 | -0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.83 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 1.08 | -1.09 |
Drawdowns
ETHE.SW vs. BTC-USD - Drawdown Comparison
The maximum ETHE.SW drawdown since its inception was -77.57%, smaller than the maximum BTC-USD drawdown of -84.27%. Use the drawdown chart below to compare losses from any high point for ETHE.SW and BTC-USD.
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Drawdown Indicators
| ETHE.SW | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.57% | -84.27% | +6.70% |
Max Drawdown (1Y)Largest decline over 1 year | -62.44% | -50.82% | -11.62% |
Max Drawdown (3Y)Largest decline over 3 years | -65.23% | -50.82% | -14.41% |
Max Drawdown (5Y)Largest decline over 5 years | -77.57% | -75.48% | -2.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.01% | — |
Current DrawdownCurrent decline from peak | -67.66% | -49.67% | -17.99% |
Average DrawdownAverage peak-to-trough decline | -43.27% | -41.79% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.22% | 34.35% | +1.87% |
Volatility
ETHE.SW vs. BTC-USD - Volatility Comparison
CoinShares Physical Ethereum (ETH) (ETHE.SW) has a higher volatility of 17.38% compared to Bitcoin (BTC-USD) at 10.05%. This indicates that ETHE.SW's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHE.SW | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.38% | 10.05% | +7.33% |
Volatility (6M)Calculated over the trailing 6-month period | 60.60% | 34.79% | +25.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.75% | 35.80% | +42.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.39% | 45.79% | +38.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.09% | 56.30% | +30.79% |
Frequently Asked Questions
ETHE.SW and BTC-USD have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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