ETHE vs. GSUI

Last updated Aug 5, 2026

ETHE (Grayscale Ethereum Trust ETF) and GSUI (Grayscale Sui Staking ETF) are both Cryptocurrency funds from Grayscale - ETHE tracks the CoinDesk Ether Price Index while GSUI tracks the CoinDesk SUI Reference Rate. Both are passively managed. Their 0.61 correlation means they have sometimes moved together and sometimes differently. ETHE charges 2.50%/yr vs 0.00%/yr for GSUI.

Performance

ETHE vs. GSUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Ethereum Trust ETF (ETHE) and Grayscale Sui Staking ETF (GSUI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHE achieves a -37.21% return, which is significantly higher than GSUI's -48.30% 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%

GSUI

• 1D: 0.72%
• 1M: -4.78%
• 6M: -36.64%
• YTD: -48.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ETHE Grayscale Ethereum Trust ETF	$26.36M	$26.52M	$33.93M
GSUI Grayscale Sui Staking ETF	$287.61K	$328.55K	$727.98K

ETHE vs. GSUI - Yearly Performance Comparison

	2026 (YTD)	2025
ETHE Grayscale Ethereum Trust ETF	-37.21%	8.41%
GSUI Grayscale Sui Staking ETF	-48.30%	-42.99%

Correlation

The correlation between ETHE and GSUI is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 24, 2025	0.61

Return for Risk

ETHE vs. GSUI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ETHE

ETHE Risk / Return Rank: 3
ETHE Sharpe Ratio Rank: 3
ETHE Sortino Ratio Rank: 3
ETHE Omega Ratio Rank: 3
ETHE Calmar Ratio Rank: 3
ETHE Martin Ratio Rank: 4

GSUI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ETHE vs. GSUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Trust ETF (ETHE) and Grayscale Sui Staking ETF (GSUI). 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	GSUI	Difference
Sharpe ratio: Return per unit of total volatility	-0.75	—	—
Sortino ratio: Return per unit of downside risk	-0.97	—	—
Omega ratio: Gain probability vs. loss probability	0.89	—	—
Calmar ratio: Return relative to maximum drawdown	-0.73	—	—
Martin ratio: Return relative to average drawdown	-1.08	—	—

Drawdowns

ETHE vs. GSUI - Drawdown Comparison

The maximum ETHE drawdown since its inception was -96.26%, which is greater than GSUI's maximum drawdown of -71.63%. Use the drawdown chart below to compare losses from any high point for ETHE and GSUI.

Drawdown Indicators

	ETHE	GSUI	Difference
Max Drawdown Largest peak-to-trough decline	-96.26%	-71.63%	-24.63%
Max Drawdown (1Y) Largest decline over 1 year	-68.17%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-68.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-89.85%	—	—
Current Drawdown Current decline from peak	-76.25%	-70.53%	-5.72%
Average Drawdown Average peak-to-trough decline	-72.32%	-55.21%	-17.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.97%	—	—

Volatility

Volatility by Period

	ETHE	GSUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	66.84%	98.84%	-32.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.93%	98.84%	-17.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	189.73%	98.84%	+90.89%

ETHE vs. GSUI - Expense Ratio Comparison

ETHE has a 2.50% expense ratio, which is higher than GSUI's 0.00% expense ratio.

Dividends

ETHE vs. GSUI - Dividend Comparison

ETHE's dividend yield for the trailing twelve months is around 1.59%, while GSUI has not paid dividends to shareholders.

Position	TTM
ETHE Grayscale Ethereum Trust ETF	1.59%
GSUI Grayscale Sui Staking ETF	0.00%

Frequently Asked Questions

Can I hold both ETHE and GSUI in my portfolio?

ETHE and GSUI have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETHE or GSUI?

On fees, GSUI is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETHE or GSUI?

GSUI is cheaper with a 0.00% expense ratio, compared with 2.50% for ETHE.

Which ETF pays a higher dividend yield, ETHE or GSUI?

ETHE has the higher dividend yield at 1.59%, compared with 0.00% for GSUI.

What is the main difference between ETHE and GSUI?

ETHE tracks CoinDesk Ether Price Index, while GSUI tracks CoinDesk SUI Reference Rate. Their fees differ too: 2.50% for ETHE and 0.00% for GSUI.