ETHE.SW vs. ETH-USD
ETHE.SW (CoinShares Physical Ethereum (ETH)) is Cryptocurrency fund actively managed by CoinShares, while ETH-USD (Ethereum) is a cryptocurrency. Over the past 5 years, ETHE.SW returned -5.96%/yr vs -7.80%/yr for ETH-USD. Their 0.41 correlation means their historical movements had little consistent relationship.
Performance
ETHE.SW vs. ETH-USD - Performance Comparison
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Different Trading Currencies
ETHE.SW is traded in CHF, while ETH-USD is traded in USD. To make them comparable, the ETH-USD values have been converted to CHF using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with ETHE.SW having a -34.33% return and ETH-USD slightly lower at -35.84%.
ETHE.SW
- 1D
- 0.00%
- 1M
- 13.30%
- 6M
- -25.35%
- YTD
- -34.33%
- 1Y
- -48.91%
- 3Y*
- -0.44%
- 5Y*
- -5.96%
- 10Y*
- —
- ALL TIME*
- 1.77%
ETH-USD
- 1D
- 1.45%
- 1M
- 7.09%
- 6M
- -13.83%
- YTD
- -35.84%
- 1Y
- -44.61%
- 3Y*
- -1.98%
- 5Y*
- -7.80%
- 10Y*
- 63.55%
- ALL TIME*
- 76.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ETH-USD Ethereum | CHF 14.88T | CHF 14.98T | CHF 20.53T |
| CHF 21.90K | CHF 27.72K | CHF 136.63K |
ETHE.SW vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETHE.SW CoinShares Physical Ethereum (ETH) | -34.33% | -20.51% | 53.68% | 79.37% | -67.97% | 138.61% |
ETH-USD Ethereum | -35.84% | -22.16% | 57.51% | 73.76% | -67.04% | 110.28% |
Correlation
The correlation between ETHE.SW and ETH-USD is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.49 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2021 | 0.41 |
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Return for Risk
ETHE.SW vs. ETH-USD — Risk / Return Rank
ETHE.SW
ETH-USD
ETHE.SW vs. ETH-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Ethereum (ETH) (ETHE.SW) and Ethereum (ETH-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.
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.
| ETHE.SW | ETH-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.92 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.66 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.11 | -0.97 | -0.14 |
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Drawdowns
ETHE.SW vs. ETH-USD - Drawdown Comparison
The maximum ETHE.SW drawdown since its inception was -77.57%, smaller than the maximum ETH-USD drawdown of -93.82%. Use the drawdown chart below to compare losses from any high point for ETHE.SW and ETH-USD.
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Drawdown Indicators
| ETHE.SW | ETH-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.57% | -93.82% | +16.25% |
Max Drawdown (1Y)Largest decline over 1 year | -66.43% | -67.75% | +1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -66.43% | -67.75% | +1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -77.57% | -78.06% | +0.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.82% | — |
Current DrawdownCurrent decline from peak | -64.48% | -65.61% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -47.12% | -51.93% | +4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.26% | 35.57% | +8.69% |
Volatility
ETHE.SW vs. ETH-USD - Volatility Comparison
CoinShares Physical Ethereum (ETH) (ETHE.SW) has a higher volatility of 12.04% compared to Ethereum (ETH-USD) at 10.80%. This indicates that ETHE.SW's price experiences larger fluctuations and is considered to be riskier than ETH-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 | ETH-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.04% | 10.80% | +1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 41.58% | 42.50% | -0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.88% | 54.00% | +6.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.96% | 58.58% | +10.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.09% | 75.90% | -2.81% |
Frequently Asked Questions
ETHE.SW and ETH-USD have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for ETHE.SW and ETH-USD
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