ETHU vs. IBIT
ETHU (Volatility Shares 2x Ether ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - ETHU is a Leveraged Cryptocurrency fund actively managed by Volatility Shares, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. ETHU is actively managed, while IBIT is passively managed. Over the past year, ETHU returned -73.33% vs -39.82% for IBIT. Their correlation of 0.82 suggests significant overlap in exposure. ETHU charges 2.67%/yr vs 0.25%/yr for IBIT.
Performance
ETHU vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, ETHU achieves a -76.57% return, which is significantly lower than IBIT's -28.88% return.
ETHU
- 1D
- -8.34%
- 1M
- -38.44%
- YTD
- -76.57%
- 6M
- -76.68%
- 1Y
- -73.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHU vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | -76.57% | -64.38% | -48.73% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 34.51% |
Correlation
The correlation between ETHU and IBIT is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024 | 0.82 |
The correlation between ETHU and IBIT has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
ETHU vs. IBIT — Risk / Return Rank
ETHU
IBIT
ETHU vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Ether ETF (ETHU) 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.
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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.86 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.77 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.12 | -1.30 | +0.18 |
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Drawdowns
ETHU vs. IBIT - Drawdown Comparison
The maximum ETHU drawdown since its inception was -96.27%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for ETHU and IBIT.
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Drawdown Indicators
| ETHU | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.27% | -52.11% | -44.16% |
Max Drawdown (1Y)Largest decline over 1 year | -93.66% | -52.11% | -41.55% |
Current DrawdownCurrent decline from peak | -95.94% | -50.47% | -45.47% |
Average DrawdownAverage peak-to-trough decline | -69.93% | -16.85% | -53.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.51% | 30.58% | +34.93% |
Volatility
ETHU vs. IBIT - Volatility Comparison
Volatility Shares 2x Ether ETF (ETHU) has a higher volatility of 39.76% compared to iShares Bitcoin Trust ETF (IBIT) at 13.18%. This indicates that ETHU'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.
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Volatility by Period
| ETHU | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.76% | 13.18% | +26.58% |
Volatility (6M)Calculated over the trailing 6-month period | 95.70% | 34.64% | +61.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 138.92% | 44.31% | +94.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.29% | 50.22% | +93.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 143.29% | 50.22% | +93.07% |
ETHU vs. IBIT - Expense Ratio Comparison
ETHU has a 2.67% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
ETHU vs. IBIT - Dividend Comparison
ETHU's dividend yield for the trailing twelve months is around 6.26%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | 6.26% | 2.31% | 0.41% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHU and IBIT have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHU has higher volatility (39.76%) compared to IBIT (13.18%). In terms of maximum drawdown, ETHU dropped -96.27% vs IBIT's -52.11%.
On 1-year performance, IBIT leads with -39.82% vs -73.33% for ETHU. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 13.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIT has performed better with a -39.82% return vs -73.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 2.67% for ETHU.
ETHU has the higher dividend yield at 6.26%, compared with 0.00% for IBIT.
ETHU is categorized as Leveraged Cryptocurrency, while IBIT is Cryptocurrency. They also come from different issuers: Volatility Shares and iShares. Their fees differ too: 2.67% for ETHU and 0.25% for IBIT.
ETHU currently has the higher Sharpe Ratio (-0.53 vs -0.90), 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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