ETHU vs. BTCU

Last updated Jul 17, 2026

ETHU (Volatility Shares 2x Ether ETF) and BTCU (Direxion Daily Bitcoin Bull 2X ETF) are both Leveraged Cryptocurrency funds. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure.

Performance

ETHU vs. BTCU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares 2x Ether ETF (ETHU) and Direxion Daily Bitcoin Bull 2X ETF (BTCU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ETHU

• 1D: -4.90%
• 1M: 6.30%
• 6M: -75.69%
• YTD: -70.73%
• 1Y: -83.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCU

• 1D: -2.32%
• 1M: -6.32%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHU vs. BTCU - Yearly Performance Comparison

	2026 (YTD)
ETHU Volatility Shares 2x Ether ETF	-23.49%
BTCU Direxion Daily Bitcoin Bull 2X ETF	-29.64%

Correlation

The correlation between ETHU and BTCU is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	0.91

Return for Risk

ETHU vs. BTCU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETHU

ETHU Risk / Return Rank: 3
ETHU Sharpe Ratio Rank: 4
ETHU Sortino Ratio Rank: 4
ETHU Omega Ratio Rank: 4
ETHU Calmar Ratio Rank: 1
ETHU Martin Ratio Rank: 3

BTCU

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETHU vs. BTCU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Ether ETF (ETHU) and Direxion Daily Bitcoin Bull 2X ETF (BTCU). 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.

	ETHU	BTCU	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	—	—
Sortino ratio: Return per unit of downside risk	-0.91	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.89	—	—
Martin ratio: Return relative to average drawdown	-1.20	—	—

Drawdowns

ETHU vs. BTCU - Drawdown Comparison

The maximum ETHU drawdown since its inception was -96.46%, which is greater than BTCU's maximum drawdown of -40.67%. Use the drawdown chart below to compare losses from any high point for ETHU and BTCU.

Drawdown Indicators

	ETHU	BTCU	Difference
Max Drawdown Largest peak-to-trough decline	-96.46%	-40.67%	-55.79%
Max Drawdown (1Y) Largest decline over 1 year	-93.99%	—	—
Current Drawdown Current decline from peak	-94.93%	-29.78%	-65.15%
Average Drawdown Average peak-to-trough decline	-70.71%	-28.40%	-42.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	69.54%	—	—

Volatility

Volatility by Period

	ETHU	BTCU	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	96.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	137.64%	86.91%	+50.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.25%	86.91%	+55.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.25%	86.91%	+55.34%

Dividends

ETHU vs. BTCU - Dividend Comparison

ETHU's dividend yield for the trailing twelve months is around 4.83%, more than BTCU's 0.25% yield.

Position	TTM	2025	2024
BTCU Direxion Daily Bitcoin Bull 2X ETF	0.25%	0.00%	0.00%
ETHU Volatility Shares 2x Ether ETF	4.83%	2.31%	0.41%

Frequently Asked Questions

Can I hold both ETHU and BTCU in my portfolio?

With a correlation of 0.91, ETHU and BTCU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF pays a higher dividend yield, ETHU or BTCU?

ETHU has the higher dividend yield at 4.83%, compared with 0.25% for BTCU.

What is the main difference between ETHU and BTCU?

They also come from different issuers: Volatility Shares and Direxion.