ETHE vs. ETCG
ETHE (Grayscale Ethereum Trust ETF) and ETCG (Grayscale Ethereum Classic Trust (ETC)) are both Cryptocurrency funds from Grayscale - ETHE tracks the CoinDesk Ether Price Index while ETCG tracks the Ethereum Classic (ETC). Both are passively managed. Over the past 5 years, ETHE returned -10.40%/yr vs -37.77%/yr for ETCG. Their 0.64 correlation means they have sometimes moved together and sometimes differently. Both charge a 2.50% expense ratio.
Performance
ETHE vs. ETCG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETHE achieves a -37.21% return, which is significantly higher than ETCG's -47.46% return.
ETHE
- 1D
- 0.34%
- 1M
- 10.22%
- 6M
- -18.72%
- YTD
- -37.21%
- 1Y
- -49.53%
- 3Y*
- 10.35%
- 5Y*
- -10.40%
- 10Y*
- —
- ALL TIME*
- 12.34%
ETCG
- 1D
- 1.43%
- 1M
- -13.06%
- 6M
- -34.35%
- YTD
- -47.46%
- 1Y
- -66.78%
- 3Y*
- -20.02%
- 5Y*
- -37.77%
- 10Y*
- —
- ALL TIME*
- -22.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $62.63K | $57.03K | $104.25K | |
| $26.36M | $26.52M | $33.93M |
ETHE vs. ETCG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ETHE Grayscale Ethereum Trust ETF | -37.21% | -13.03% | 44.14% | 308.40% | -85.29% | 108.77% | 441.75% | -57.08% |
ETCG Grayscale Ethereum Classic Trust (ETC) | -47.46% | -39.78% | -9.57% | 289.22% | -80.45% | 145.11% | -10.70% | -82.35% |
Correlation
The correlation between ETHE and ETCG is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2019 | 0.64 |
The correlation between ETHE and ETCG has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETHE vs. ETCG — Risk / Return Rank
ETHE
ETCG
ETHE vs. ETCG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Trust ETF (ETHE) and Grayscale Ethereum Classic Trust (ETC) (ETCG). 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 | ETCG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.76 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.92 | +0.19 |
| Martin ratioReturn relative to average drawdown | -1.08 | -1.30 | +0.22 |
Loading charts...
Drawdowns
ETHE vs. ETCG - Drawdown Comparison
The maximum ETHE drawdown since its inception was -96.26%, roughly equal to the maximum ETCG drawdown of -96.59%. Use the drawdown chart below to compare losses from any high point for ETHE and ETCG.
Loading charts...
Drawdown Indicators
| ETHE | ETCG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.26% | -96.59% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -68.17% | -72.70% | +4.53% |
Max Drawdown (3Y)Largest decline over 3 years | -68.17% | -82.25% | +14.08% |
Max Drawdown (5Y)Largest decline over 5 years | -89.85% | -92.70% | +2.85% |
Current DrawdownCurrent decline from peak | -76.25% | -96.20% | +19.95% |
Average DrawdownAverage peak-to-trough decline | -72.32% | -82.89% | +10.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.97% | 51.47% | -5.50% |
Volatility
ETHE vs. ETCG - Volatility Comparison
Grayscale Ethereum Trust ETF (ETHE) has a higher volatility of 11.25% compared to Grayscale Ethereum Classic Trust (ETC) (ETCG) at 9.74%. This indicates that ETHE's price experiences larger fluctuations and is considered to be riskier than ETCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ETHE | ETCG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.25% | 9.74% | +1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 43.39% | 33.37% | +10.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.84% | 57.25% | +9.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.93% | 90.69% | -9.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 189.73% | 114.27% | +75.46% |
ETHE vs. ETCG - Expense Ratio Comparison
Both ETHE and ETCG have an expense ratio of 2.50%.
Dividends
ETHE vs. ETCG - Dividend Comparison
ETHE's dividend yield for the trailing twelve months is around 1.59%, while ETCG has not paid dividends to shareholders.
| Position | TTM |
|---|---|
ETCG Grayscale Ethereum Classic Trust (ETC) | 0.00% |
ETHE Grayscale Ethereum Trust ETF | 1.59% |
Frequently Asked Questions
ETHE and ETCG have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHE has higher volatility (11.25%) compared to ETCG (9.74%). In terms of maximum drawdown, ETHE dropped -96.26% vs ETCG's -96.59%.
On 5-year performance, ETHE leads with -10.40% vs -37.77% for ETCG. Both ETFs have the same 2.50% expense ratio. On volatility, ETCG has been the lower-risk option at 9.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ETHE has performed better with a -10.40% return vs -37.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHE and ETCG have the same expense ratio: 2.50% per year.
ETHE has the higher dividend yield at 1.59%, compared with 0.00% for ETCG.
ETHE tracks CoinDesk Ether Price Index, while ETCG tracks Ethereum Classic (ETC).
ETHE currently has the higher Sharpe Ratio (-0.74 vs -1.17), 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.
Find the right allocation for ETHE and ETCG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer