ETHW vs. BSOL

Last updated Jun 4, 2026

ETHW (Bitwise Ethereum ETF) and BSOL (Bitwise Solana Staking ETF) are both Cryptocurrency funds from Bitwise. ETHW is actively managed, while BSOL is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

ETHW vs. BSOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Ethereum ETF (ETHW) and Bitwise Solana Staking ETF (BSOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ETHW having a -39.45% return and BSOL slightly lower at -40.79%.

ETHW

• 1D: -5.78%
• 1M: -23.65%
• YTD: -39.45%
• 6M: -42.65%
• 1Y: -31.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BSOL

• 1D: -4.71%
• 1M: -14.67%
• YTD: -40.79%
• 6M: -47.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHW vs. BSOL - Yearly Performance Comparison

	2026 (YTD)	2025
ETHW Bitwise Ethereum ETF	-39.45%	-26.50%
BSOL Bitwise Solana Staking ETF	-40.79%	-35.81%

Correlation

The correlation between ETHW and BSOL is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 29, 2025	0.90

Return for Risk

ETHW vs. BSOL — Risk / Return Rank

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

ETHW

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

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.

ETHW vs. BSOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum ETF (ETHW) and Bitwise Solana Staking ETF (BSOL). 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.

	ETHW	BSOL	Difference
Sharpe ratio Return per unit of total volatility	-0.47	—	—
Sortino ratio Return per unit of downside risk	-0.32	—	—
Omega ratio Gain probability vs. loss probability	0.96	—	—
Calmar ratio Return relative to maximum drawdown	-0.51	—	—
Martin ratio Return relative to average drawdown	-0.84	—	—
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

	ETHW	BSOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	-1.07	+0.66

Drawdowns

ETHW vs. BSOL - Drawdown Comparison

The maximum ETHW drawdown since its inception was -64.04%, roughly equal to the maximum BSOL drawdown of -62.00%. Use the drawdown chart below to compare losses from any high point for ETHW and BSOL.

Drawdown Indicators

	ETHW	BSOL	Difference
Max Drawdown Largest peak-to-trough decline	-64.04%	-62.00%	-2.04%
Max Drawdown (1Y) Largest decline over 1 year	-62.87%	—	—
Current Drawdown Current decline from peak	-62.87%	-62.00%	-0.87%
Average Drawdown Average peak-to-trough decline	-32.65%	-43.66%	+11.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.74%	—	—

Volatility

Volatility by Period

	ETHW	BSOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	46.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	68.33%	75.26%	-6.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.13%	75.26%	-3.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.13%	75.26%	-3.13%

ETHW vs. BSOL - Expense Ratio Comparison

Both ETHW and BSOL have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ETHW vs. BSOL - Dividend Comparison

Neither ETHW nor BSOL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHW and BSOL in my portfolio?

ETHW and BSOL have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETHW or BSOL?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETHW or BSOL?

ETHW and BSOL have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, ETHW or BSOL?

ETHW and BSOL have nearly identical dividend yields, around 0.00%.