ETHU vs. ETHA
ETHU (Volatility Shares 2x Ether ETF) and ETHA (iShares Ethereum Trust ETF) are both Cryptocurrency funds. ETHU is actively managed, while ETHA is passively managed. Over the past year, ETHU returned -80.06% vs -38.02% for ETHA. With a 1.00 correlation, they move nearly in lockstep. ETHU charges 0.94%/yr vs 0.25%/yr for ETHA.
Performance
ETHU vs. ETHA - Performance Comparison
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Returns By Period
In the year-to-date period, ETHU achieves a -78.43% return, which is significantly lower than ETHA's -47.08% return.
ETHU
- 1D
- -22.60%
- 1M
- -56.94%
- YTD
- -78.43%
- 6M
- -79.79%
- 1Y
- -80.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA
- 1D
- -11.35%
- 1M
- -33.01%
- YTD
- -47.08%
- 6M
- -48.05%
- 1Y
- -38.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHU vs. ETHA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | -78.43% | -64.38% | -34.79% |
ETHA iShares Ethereum Trust ETF | -47.08% | -11.31% | -3.62% |
Correlation
The correlation between ETHU and ETHA is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024 | 1.00 |
The correlation between ETHU and ETHA has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
ETHU vs. ETHA — Risk / Return Rank
ETHU
ETHA
ETHU vs. ETHA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Ether ETF (ETHU) and iShares Ethereum Trust ETF (ETHA). 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.
| ETHU | ETHA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.95 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.56 | -0.29 |
| Martin ratioReturn relative to average drawdown | -1.27 | -1.00 | -0.28 |
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
| ETHU | ETHA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.58 | -0.55 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.56 | -0.48 | -0.08 |
Drawdowns
ETHU vs. ETHA - Drawdown Comparison
The maximum ETHU drawdown since its inception was -96.27%, which is greater than ETHA's maximum drawdown of -67.56%. Use the drawdown chart below to compare losses from any high point for ETHU and ETHA.
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Drawdown Indicators
| ETHU | ETHA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.27% | -67.56% | -28.71% |
Max Drawdown (1Y)Largest decline over 1 year | -93.66% | -67.56% | -26.10% |
Current DrawdownCurrent decline from peak | -96.27% | -67.56% | -28.71% |
Average DrawdownAverage peak-to-trough decline | -69.51% | -32.79% | -36.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.88% | 38.18% | +24.70% |
Volatility
ETHU vs. ETHA - Volatility Comparison
Volatility Shares 2x Ether ETF (ETHU) has a higher volatility of 30.24% compared to iShares Ethereum Trust ETF (ETHA) at 14.55%. This indicates that ETHU's price experiences larger fluctuations and is considered to be riskier than ETHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHU | ETHA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.24% | 14.55% | +15.69% |
Volatility (6M)Calculated over the trailing 6-month period | 94.97% | 46.59% | +48.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 139.25% | 69.44% | +69.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.70% | 72.85% | +70.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 143.70% | 72.85% | +70.85% |
ETHU vs. ETHA - Expense Ratio Comparison
ETHU has a 0.94% expense ratio, which is higher than ETHA's 0.25% expense ratio.
Dividends
ETHU vs. ETHA - Dividend Comparison
ETHU's dividend yield for the trailing twelve months is around 6.67%, while ETHA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% |
ETHU Volatility Shares 2x Ether ETF | 6.67% | 2.31% | 0.41% |
Frequently Asked Questions
With a correlation of 1.00, ETHU and ETHA 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.
ETHU has higher volatility (30.24%) compared to ETHA (14.55%). In terms of maximum drawdown, ETHU dropped -96.27% vs ETHA's -67.56%.
On 1-year performance, ETHA leads with -38.02% vs -80.06% for ETHU. On fees, ETHA is cheaper at 0.25% per year. On volatility, ETHA has been the lower-risk option at 14.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ETHA has performed better with a -38.02% return vs -80.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHA is cheaper with a 0.25% expense ratio, compared with 0.94% for ETHU.
ETHU has the higher dividend yield at 6.67%, compared with 0.00% for ETHA.
They also come from different issuers: Volatility Shares and iShares. Their fees differ too: 0.94% for ETHU and 0.25% for ETHA.
ETHA currently has the higher Sharpe Ratio (-0.55 vs -0.58), 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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