ETHE vs. IBIT
Compare and contrast key facts about Grayscale Ethereum Trust ETF (ETHE) and iShares Bitcoin Trust ETF (IBIT).
ETHE 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 is a passively managed fund by Grayscale that tracks the performance of the CoinDesk Ether Price Index . It was launched on Dec 14, 2017. 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. Both ETHE and IBIT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ETHE vs. IBIT - Performance Comparison
Loading graphics...
ETHE vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHE Grayscale Ethereum Trust ETF | -29.54% | -13.03% | 28.06% |
IBIT iShares Bitcoin Trust ETF | -22.62% | -6.41% | 99.21% |
Returns By Period
In the year-to-date period, ETHE achieves a -29.54% return, which is significantly lower than IBIT's -22.62% return.
ETHE
- 1D
- 3.83%
- 1M
- 8.93%
- YTD
- -29.54%
- 6M
- -49.90%
- 1Y
- 12.82%
- 3Y*
- 26.07%
- 5Y*
- -1.84%
- 10Y*
- —
IBIT
- 1D
- 1.96%
- 1M
- 3.31%
- YTD
- -22.62%
- 6M
- -40.89%
- 1Y
- -17.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ETHE vs. IBIT - Expense Ratio Comparison
ETHE has a 2.50% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Return for Risk
ETHE vs. IBIT — Risk / Return Rank
ETHE
IBIT
ETHE vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Trust ETF (ETHE) 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 | IBIT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.17 | -0.40 | +0.57 |
Sortino ratioReturn per unit of downside risk | 0.81 | -0.29 | +1.10 |
Omega ratioGain probability vs. loss probability | 1.09 | 0.97 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.16 | -0.39 | +0.55 |
Martin ratioReturn relative to average drawdown | 0.33 | -0.83 | +1.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ETHE | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | -0.40 | +0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.35 | -0.28 |
Correlation
The correlation between ETHE and IBIT is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ETHE vs. IBIT - Dividend Comparison
ETHE's dividend yield for the trailing twelve months is around 0.76%, while IBIT has not paid dividends to shareholders.
| TTM | |
|---|---|
ETHE Grayscale Ethereum Trust ETF | 0.76% |
IBIT iShares Bitcoin Trust ETF | 0.00% |
Drawdowns
ETHE vs. IBIT - Drawdown Comparison
The maximum ETHE drawdown since its inception was -96.26%, which is greater than IBIT's maximum drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for ETHE and IBIT.
Loading graphics...
Drawdown Indicators
| ETHE | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.26% | -49.36% | -46.90% |
Max Drawdown (1Y)Largest decline over 1 year | -61.89% | -49.36% | -12.53% |
Max Drawdown (5Y)Largest decline over 5 years | -89.85% | — | — |
Current DrawdownCurrent decline from peak | -73.36% | -46.11% | -27.25% |
Average DrawdownAverage peak-to-trough decline | -72.24% | -14.13% | -58.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.61% | 23.09% | +7.52% |
Volatility
ETHE vs. IBIT - Volatility Comparison
Grayscale Ethereum Trust ETF (ETHE) has a higher volatility of 19.27% compared to iShares Bitcoin Trust ETF (IBIT) at 12.99%. This indicates that ETHE'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.
Loading graphics...
Volatility by Period
| ETHE | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.27% | 12.99% | +6.28% |
Volatility (6M)Calculated over the trailing 6-month period | 53.51% | 36.75% | +16.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.70% | 45.42% | +30.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 85.14% | 51.26% | +33.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 194.18% | 51.26% | +142.92% |