ETHT vs. BMNR
ETHT (ProShares Ultra Ether ETF) is Cryptocurrency fund tracking the Bloomberg Ethereum Index (200%), while BMNR (BitMine Immersion Technologies, Inc.) is a stock. Over the past year, ETHT returned -74.56% vs 244.14% for BMNR. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
ETHT vs. BMNR - Performance Comparison
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Returns By Period
In the year-to-date period, ETHT achieves a -75.59% return, which is significantly lower than BMNR's -41.58% return.
ETHT
- 1D
- 3.16%
- 1M
- -33.42%
- YTD
- -75.59%
- 6M
- -75.81%
- 1Y
- -74.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNR
- 1D
- -1.73%
- 1M
- -16.00%
- YTD
- -41.58%
- 6M
- -48.99%
- 1Y
- 244.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHT vs. BMNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETHT ProShares Ultra Ether ETF | -75.59% | -14.35% |
BMNR BitMine Immersion Technologies, Inc. | -41.58% | 274.59% |
Correlation
The correlation between ETHT and BMNR is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025 | 0.71 |
The correlation between ETHT and BMNR has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.
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Return for Risk
ETHT vs. BMNR — Risk / Return Rank
ETHT
BMNR
ETHT vs. BMNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Ether ETF (ETHT) and BitMine Immersion Technologies, Inc. (BMNR). 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.
| ETHT | BMNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -8.92 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 2.01 | -1.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.78 | -3.58 |
| Martin ratioReturn relative to average drawdown | -1.14 | 3.30 | -4.44 |
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Drawdowns
ETHT vs. BMNR - Drawdown Comparison
The maximum ETHT drawdown since its inception was -96.02%, which is greater than BMNR's maximum drawdown of -88.41%. Use the drawdown chart below to compare losses from any high point for ETHT and BMNR.
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Drawdown Indicators
| ETHT | BMNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.02% | -88.41% | -7.61% |
Max Drawdown (1Y)Largest decline over 1 year | -93.92% | -88.41% | -5.51% |
Current DrawdownCurrent decline from peak | -95.32% | -88.25% | -7.07% |
Average DrawdownAverage peak-to-trough decline | -67.63% | -71.16% | +3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.41% | 74.36% | -8.95% |
Volatility
ETHT vs. BMNR - Volatility Comparison
ProShares Ultra Ether ETF (ETHT) has a higher volatility of 39.52% compared to BitMine Immersion Technologies, Inc. (BMNR) at 21.23%. This indicates that ETHT's price experiences larger fluctuations and is considered to be riskier than BMNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHT | BMNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.52% | 21.23% | +18.29% |
Volatility (6M)Calculated over the trailing 6-month period | 94.60% | 59.44% | +35.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 137.92% | 718.74% | -580.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.23% | 703.98% | -560.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 143.23% | 703.98% | -560.75% |
Dividends
ETHT vs. BMNR - Dividend Comparison
ETHT's dividend yield for the trailing twelve months is around 19.46%, more than BMNR's 0.06% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BMNR BitMine Immersion Technologies, Inc. | 0.06% | 0.04% | 0.00% |
ETHT ProShares Ultra Ether ETF | 19.46% | 4.57% | 0.02% |
Frequently Asked Questions
ETHT and BMNR have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHT has higher volatility (39.52%) compared to BMNR (21.23%). In terms of maximum drawdown, ETHT dropped -96.02% vs BMNR's -88.41%.
BMNR currently has the higher Sharpe Ratio (0.34 vs -0.54), 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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