ETHV vs. ETHA

Last updated Jun 24, 2026

ETHV (VanEck Ethereum ETF) and ETHA (iShares Ethereum Trust ETF) are both Cryptocurrency funds - ETHV tracks the MarketVector Ethereum Benchmark Rate while ETHA tracks the CME CF Ether Dollar Reference Rate - New York Variant. Both are passively managed. Over the past year, ETHV returned -28.51% vs -28.54% for ETHA. With a 1.00 correlation, they move nearly in lockstep. ETHV charges 0.20%/yr vs 0.25%/yr for ETHA.

Performance

ETHV vs. ETHA - Performance Comparison

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

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with ETHV at -44.18% and ETHA at -44.18%.

ETHV

• 1D: -4.23%
• 1M: -19.65%
• YTD: -44.18%
• 6M: -44.14%
• 1Y: -28.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHA

• 1D: -4.13%
• 1M: -19.59%
• YTD: -44.18%
• 6M: -44.16%
• 1Y: -28.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHV vs. ETHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHV VanEck Ethereum ETF	-44.18%	-11.02%	-5.50%
ETHA iShares Ethereum Trust ETF	-44.18%	-11.31%	-4.89%

Correlation

The correlation between ETHV 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 23, 2024	1.00

The correlation between ETHV and ETHA has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

ETHV vs. ETHA — Risk / Return Rank

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

ETHV

ETHV Risk / Return Rank: 6
ETHV Sharpe Ratio Rank: 5
ETHV Sortino Ratio Rank: 6
ETHV Omega Ratio Rank: 6
ETHV Calmar Ratio Rank: 5
ETHV Martin Ratio Rank: 6

ETHA

ETHA Risk / Return Rank: 6
ETHA Sharpe Ratio Rank: 5
ETHA Sortino Ratio Rank: 6
ETHA Omega Ratio Rank: 6
ETHA Calmar Ratio Rank: 5
ETHA Martin Ratio Rank: 6

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. ETHA - Risk-Adjusted Trends Comparison

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

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.

	ETHV	ETHA	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	-0.41	0.00
Sortino ratio: Return per unit of downside risk	-0.21	-0.20	0.00
Omega ratio: Gain probability vs. loss probability	0.98	0.98	0.00
Calmar ratio: Return relative to maximum drawdown	-0.42	-0.42	0.00
Martin ratio: Return relative to average drawdown	-0.71	-0.71	0.00

ETHV vs. ETHA - Sharpe Ratio Comparison

The current ETHV Sharpe Ratio is -0.41, which is comparable to the ETHA Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of ETHV and ETHA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETHV vs. ETHA - Drawdown Comparison

The maximum ETHV drawdown since its inception was -67.54%, roughly equal to the maximum ETHA drawdown of -67.56%. Use the drawdown chart below to compare losses from any high point for ETHV and ETHA.

Drawdown Indicators

	ETHV	ETHA	Difference
Max Drawdown Largest peak-to-trough decline	-67.54%	-67.56%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-67.54%	-67.56%	+0.02%
Current Drawdown Current decline from peak	-65.78%	-65.78%	0.00%
Average Drawdown Average peak-to-trough decline	-33.72%	-33.64%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.40%	40.40%	0.00%

Volatility

ETHV vs. ETHA - Volatility Comparison

VanEck Ethereum ETF (ETHV) and iShares Ethereum Trust ETF (ETHA) have volatilities of 19.72% and 19.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHV	ETHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.72%	19.90%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	46.91%	47.13%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	69.06%	69.33%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.41%	72.65%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.41%	72.65%	-0.24%

ETHV vs. ETHA - Expense Ratio Comparison

ETHV has a 0.20% expense ratio, which is lower than ETHA's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ETHV vs. ETHA - Dividend Comparison

Neither ETHV nor ETHA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHV and ETHA in my portfolio?

With a correlation of 1.00, ETHV 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.

Which is riskier, ETHV or ETHA?

ETHA has higher volatility (19.90%) compared to ETHV (19.72%). In terms of maximum drawdown, ETHV dropped -67.54% vs ETHA's -67.56%.

Which ETF is better, ETHV or ETHA?

On 1-year performance, ETHV leads with -28.51% vs -28.54% for ETHA. On fees, ETHV is cheaper at 0.20% per year. On volatility, ETHV has been the lower-risk option at 19.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHV or ETHA?

Over the 1-year period, ETHV has performed better with a -28.51% return vs -28.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHV or ETHA?

ETHV is cheaper with a 0.20% expense ratio, compared with 0.25% for ETHA.

Which ETF pays a higher dividend yield, ETHV or ETHA?

ETHV and ETHA have nearly identical dividend yields, around 0.00%.

What is the main difference between ETHV and ETHA?

ETHV tracks MarketVector Ethereum Benchmark Rate, while ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.20% for ETHV and 0.25% for ETHA.

Which has better risk-adjusted returns?

ETHA currently has the higher Sharpe Ratio (-0.41 vs -0.41), 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.