ETHV vs. BMNR

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Ethereum ETF (ETHV) and Bitmine Immersion Technologies Inc (BMNR).

ETHV is a passively managed fund by VanEck that tracks the performance of the MarketVector Ethereum Benchmark Rate. It was launched on Jun 25, 2024.

Performance

ETHV vs. BMNR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Ethereum ETF (ETHV) and Bitmine Immersion Technologies Inc (BMNR). The values are adjusted to include any dividend payments, if applicable.

ETHV vs. BMNR - Yearly Performance Comparison

	2026 (YTD)	2025
ETHV VanEck Ethereum ETF	-27.92%	17.34%
BMNR Bitmine Immersion Technologies Inc	-27.48%	250.43%

Returns By Period

The year-to-date returns for both investments are quite close, with ETHV having a -27.92% return and BMNR slightly higher at -27.48%.

ETHV

• 1D: 2.15%
• 1M: 5.07%
• YTD: -27.92%
• 6M: -50.71%
• 1Y: 11.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNR

• 1D: -0.46%
• 1M: -3.48%
• YTD: -27.48%
• 6M: -62.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

ETHV vs. BMNR — Risk / Return Rank

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

ETHV

ETHV Risk / Return Rank: 19
ETHV Sharpe Ratio Rank: 15
ETHV Sortino Ratio Rank: 25
ETHV Omega Ratio Rank: 22
ETHV Calmar Ratio Rank: 17
ETHV Martin Ratio Rank: 16

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.

ETHV vs. BMNR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Ethereum ETF (ETHV) 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.

	ETHV	BMNR	Difference
Sharpe ratio Return per unit of total volatility	0.16	—	—
Sortino ratio Return per unit of downside risk	0.80	—	—
Omega ratio Gain probability vs. loss probability	1.09	—	—
Calmar ratio Return relative to maximum drawdown	0.28	—	—
Martin ratio Return relative to average drawdown	0.56	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ETHV	BMNR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.33	0.27	-0.60

Correlation

The correlation between ETHV and BMNR is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ETHV vs. BMNR - Dividend Comparison

ETHV has not paid dividends to shareholders, while BMNR's dividend yield for the trailing twelve months is around 0.05%.

	TTM	2025
ETHV VanEck Ethereum ETF	0.00%	0.00%
BMNR Bitmine Immersion Technologies Inc	0.05%	0.04%

Drawdowns

ETHV vs. BMNR - Drawdown Comparison

The maximum ETHV drawdown since its inception was -64.02%, smaller than the maximum BMNR drawdown of -87.11%. Use the drawdown chart below to compare losses from any high point for ETHV and BMNR.

Drawdown Indicators

	ETHV	BMNR	Difference
Max Drawdown Largest peak-to-trough decline	-64.02%	-87.11%	+23.09%
Max Drawdown (1Y) Largest decline over 1 year	-61.66%	—	—
Current Drawdown Current decline from peak	-55.81%	-85.41%	+29.60%
Average Drawdown Average peak-to-trough decline	-30.45%	-67.75%	+37.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.61%	—	—

Volatility

Volatility by Period

	ETHV	BMNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	53.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	75.78%	793.13%	-717.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.81%	793.13%	-718.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.81%	793.13%	-718.32%