ETHE.SW vs. IBIT
Compare and contrast key facts about CoinShares Physical Ethereum (ETH) (ETHE.SW) and iShares Bitcoin Trust ETF (IBIT).
ETHE.SW and IBIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ETHE.SW is an actively managed fund by CoinShares. It was launched on Feb 23, 2021. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024.
Performance
ETHE.SW vs. IBIT - Performance Comparison
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ETHE.SW vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHE.SW CoinShares Physical Ethereum (ETH) | -30.80% | -20.51% | 35.91% |
IBIT iShares Bitcoin Trust ETF | -22.18% | -18.22% | 112.27% |
Different Trading Currencies
ETHE.SW is traded in CHF, while IBIT is traded in USD. To make them comparable, the IBIT 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 -30.80% return, which is significantly lower than IBIT's -22.18% return.
ETHE.SW
- 1D
- -0.70%
- 1M
- 9.73%
- YTD
- -30.80%
- 6M
- -50.02%
- 1Y
- 3.91%
- 3Y*
- 0.72%
- 5Y*
- -0.76%
- 10Y*
- —
IBIT
- 1D
- 1.88%
- 1M
- 7.26%
- YTD
- -22.18%
- 6M
- -40.70%
- 1Y
- -25.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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ETHE.SW vs. IBIT - Expense Ratio Comparison
ETHE.SW has a 0.00% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
ETHE.SW vs. IBIT — Risk / Return Rank
ETHE.SW
IBIT
ETHE.SW vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Ethereum (ETH) (ETHE.SW) 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.
| ETHE.SW | IBIT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.05 | -0.56 | +0.60 |
Sortino ratioReturn per unit of downside risk | 0.72 | -0.56 | +1.28 |
Omega ratioGain probability vs. loss probability | 1.09 | 0.94 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | -0.00 | -0.53 | +0.53 |
Martin ratioReturn relative to average drawdown | -0.00 | -1.14 | +1.14 |
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 | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | -0.56 | +0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.28 | -0.25 |
Correlation
The correlation between ETHE.SW and IBIT is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
ETHE.SW vs. IBIT - Dividend Comparison
Neither ETHE.SW nor IBIT has paid dividends to shareholders.
Drawdowns
ETHE.SW vs. IBIT - Drawdown Comparison
The maximum ETHE.SW drawdown since its inception was -77.57%, which is greater than IBIT's maximum drawdown of -50.43%. Use the drawdown chart below to compare losses from any high point for ETHE.SW and IBIT.
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Drawdown Indicators
| ETHE.SW | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.57% | -49.36% | -28.21% |
Max Drawdown (1Y)Largest decline over 1 year | -61.87% | -49.36% | -12.51% |
Max Drawdown (5Y)Largest decline over 5 years | -77.57% | — | — |
Current DrawdownCurrent decline from peak | -62.57% | -46.11% | -16.46% |
Average DrawdownAverage peak-to-trough decline | -42.54% | -14.13% | -28.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.52% | 23.09% | +6.43% |
Volatility
ETHE.SW vs. IBIT - Volatility Comparison
CoinShares Physical Ethereum (ETH) (ETHE.SW) has a higher volatility of 45.18% compared to iShares Bitcoin Trust ETF (IBIT) at 12.33%. This indicates that ETHE.SW'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.
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Volatility by Period
| ETHE.SW | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 45.18% | 12.33% | +32.85% |
Volatility (6M)Calculated over the trailing 6-month period | 64.87% | 36.88% | +27.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.96% | 46.88% | +38.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.20% | 52.25% | +35.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 88.18% | 52.25% | +35.93% |