ETHE vs. VEA
ETHE (Grayscale Ethereum Trust ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both exchange-traded funds - ETHE is a Cryptocurrency fund tracking the CoinDesk Ether Price Index , while VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 5 years, ETHE returned -11.18%/yr vs 9.09%/yr for VEA. At a 0.33 correlation, their price movements are largely independent. ETHE charges 2.50%/yr vs 0.03%/yr for VEA.
Performance
ETHE vs. VEA - Performance Comparison
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Returns By Period
In the year-to-date period, ETHE achieves a -43.52% return, which is significantly lower than VEA's 12.02% return.
ETHE
- 1D
- 6.90%
- 1M
- -27.33%
- YTD
- -43.52%
- 6M
- -46.57%
- 1Y
- -33.22%
- 3Y*
- 20.84%
- 5Y*
- -11.18%
- 10Y*
- —
VEA
- 1D
- 1.00%
- 1M
- -1.37%
- YTD
- 12.02%
- 6M
- 14.95%
- 1Y
- 28.06%
- 3Y*
- 18.65%
- 5Y*
- 9.09%
- 10Y*
- 10.14%
ETHE vs. VEA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ETHE Grayscale Ethereum Trust ETF | -43.52% | -13.03% | 44.14% | 308.40% | -85.29% | 108.77% | 441.75% | -57.08% |
VEA Vanguard FTSE Developed Markets ETF | 12.02% | 35.16% | 3.15% | 17.93% | -15.34% | 11.66% | 9.71% | 10.08% |
Correlation
The correlation between ETHE and VEA is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2019 | 0.33 |
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Return for Risk
ETHE vs. VEA — Risk / Return Rank
ETHE
VEA
ETHE vs. VEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Trust ETF (ETHE) and Vanguard FTSE Developed Markets ETF (VEA). 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 | VEA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.73 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.32 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 2.42 | -2.92 |
| Martin ratioReturn relative to average drawdown | -0.86 | 9.39 | -10.25 |
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 | VEA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.48 | 1.75 | -2.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.55 | -0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.24 | -0.18 |
Drawdowns
ETHE vs. VEA - Drawdown Comparison
The maximum ETHE drawdown since its inception was -96.26%, which is greater than VEA's maximum drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for ETHE and VEA.
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Drawdown Indicators
| ETHE | VEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.26% | -60.68% | -35.58% |
Max Drawdown (1Y)Largest decline over 1 year | -67.77% | -11.63% | -56.14% |
Max Drawdown (3Y)Largest decline over 3 years | -67.77% | -13.45% | -54.32% |
Max Drawdown (5Y)Largest decline over 5 years | -89.85% | -29.71% | -60.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.73% | — |
Current DrawdownCurrent decline from peak | -78.64% | -3.40% | -75.24% |
Average DrawdownAverage peak-to-trough decline | -72.24% | -13.29% | -58.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.65% | 3.00% | +35.65% |
Volatility
ETHE vs. VEA - Volatility Comparison
Grayscale Ethereum Trust ETF (ETHE) has a higher volatility of 16.62% compared to Vanguard FTSE Developed Markets ETF (VEA) at 6.03%. This indicates that ETHE's price experiences larger fluctuations and is considered to be riskier than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHE | VEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.62% | 6.03% | +10.59% |
Volatility (6M)Calculated over the trailing 6-month period | 46.92% | 13.91% | +33.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.50% | 16.15% | +53.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.39% | 16.63% | +65.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 191.74% | 17.40% | +174.34% |
ETHE vs. VEA - Expense Ratio Comparison
ETHE has a 2.50% expense ratio, which is higher than VEA's 0.03% expense ratio.
Dividends
ETHE vs. VEA - Dividend Comparison
ETHE's dividend yield for the trailing twelve months is around 1.44%, less than VEA's 2.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHE Grayscale Ethereum Trust ETF | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VEA Vanguard FTSE Developed Markets ETF | 2.69% | 3.22% | 3.35% | 3.15% | 2.91% | 3.16% | 2.04% | 3.04% | 3.35% | 2.77% | 3.05% | 2.92% |
Frequently Asked Questions
ETHE and VEA have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHE has higher volatility (16.62%) compared to VEA (6.03%). In terms of maximum drawdown, ETHE dropped -96.26% vs VEA's -60.68%.
On 5-year performance, VEA leads with 9.09% vs -11.18% for ETHE. On fees, VEA is cheaper at 0.03% per year. On volatility, VEA has been the lower-risk option at 6.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VEA has performed better with a 9.09% return vs -11.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEA is cheaper with a 0.03% expense ratio, compared with 2.50% for ETHE.
VEA has the higher dividend yield at 2.69%, compared with 1.44% for ETHE.
ETHE is categorized as Cryptocurrency, while VEA is Foreign Large Cap Equities. ETHE tracks CoinDesk Ether Price Index , while VEA tracks FTSE Developed All Cap ex US Index. They also come from different issuers: Grayscale and Vanguard. Their fees differ too: 2.50% for ETHE and 0.03% for VEA.
VEA currently has the higher Sharpe Ratio (1.75 vs -0.48), 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.
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