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 -84.69% vs -44.50% for IBIT. Their correlation of 0.82 means they have usually moved in the same direction. 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 -71.34% return, which is significantly lower than IBIT's -28.22% return.
ETHU
- 1D
- -5.80%
- 1M
- 18.05%
- 6M
- -63.03%
- YTD
- -71.34%
- 1Y
- -84.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -74.57%
IBIT
- 1D
- -2.89%
- 1M
- 2.21%
- 6M
- -24.95%
- YTD
- -28.22%
- 1Y
- -44.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $89.13M | $89.49M | $94.57M | |
| $1.30B | $1.34B | $1.68B |
ETHU vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | -71.34% | -64.38% | -48.73% |
IBIT iShares Bitcoin Trust ETF | -28.22% | -6.41% | 34.51% |
Correlation
The correlation between ETHU and IBIT is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
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 0.91 - 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 | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.83 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | -0.87 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.20 | -1.34 | +0.14 |
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Drawdowns
ETHU vs. IBIT - Drawdown Comparison
The maximum ETHU drawdown since its inception was -96.46%, which is greater than IBIT's maximum drawdown of -53.30%. 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 | -96.46% | -53.30% | -43.16% |
Max Drawdown (1Y)Largest decline over 1 year | -93.99% | -53.30% | -40.69% |
Current DrawdownCurrent decline from peak | -95.04% | -50.01% | -45.03% |
Average DrawdownAverage peak-to-trough decline | -71.20% | -18.24% | -52.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.10% | 34.66% | +37.44% |
Volatility
ETHU vs. IBIT - Volatility Comparison
Volatility Shares 2x Ether ETF (ETHU) has a higher volatility of 25.68% compared to iShares Bitcoin Trust ETF (IBIT) at 9.21%. 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 | 25.68% | 9.21% | +16.47% |
Volatility (6M)Calculated over the trailing 6-month period | 93.31% | 33.74% | +59.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 135.13% | 44.46% | +90.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 141.18% | 49.60% | +91.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 141.18% | 49.60% | +91.58% |
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 4.50%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | 4.50% | 2.31% | 0.41% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, ETHU and IBIT 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 (25.68%) compared to IBIT (9.21%). In terms of maximum drawdown, ETHU dropped -96.46% vs IBIT's -53.30%.
On 1-year performance, IBIT leads with -44.50% vs -84.69% for ETHU. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 9.21%. 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 -44.50% return vs -84.69%. 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 4.50%, 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 (-0.64 vs -1.04), 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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