EZET vs. CEPI

Last updated Aug 5, 2026

EZET (Franklin Ethereum ETF) and CEPI (REX Crypto Equity Premium Income ETF) are both exchange-traded funds - EZET is a Cryptocurrency fund tracking the CME CF Ether-Dollar Reference Rate - New York Variant, while CEPI is a Derivative Income fund actively managed by REX. EZET is passively managed, while CEPI is actively managed. Over the past year, EZET returned -49.07% vs 21.57% for CEPI. Their 0.65 correlation means they have sometimes moved together and sometimes differently. EZET charges 0.19%/yr vs 0.85%/yr for CEPI.

Performance

EZET vs. CEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Ethereum ETF (EZET) and REX Crypto Equity Premium Income ETF (CEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZET achieves a -36.99% return, which is significantly lower than CEPI's 18.92% return.

EZET

• 1D: 0.28%
• 1M: 10.09%
• 6M: -18.59%
• YTD: -36.99%
• 1Y: -49.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.66%

CEPI

• 1D: 1.25%
• 1M: 2.09%
• 6M: 17.67%
• YTD: 18.92%
• 1Y: 21.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CEPI REX Crypto Equity Premium Income ETF	$1.24M	$1.26M	$1.60M
EZET Franklin Ethereum ETF	$400.33K	$484.91K	$668.91K

EZET vs. CEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZET Franklin Ethereum ETF	-36.99%	-11.23%	-7.61%
CEPI REX Crypto Equity Premium Income ETF	18.92%	10.75%	-7.02%

Correlation

The correlation between EZET and CEPI is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.65

The correlation between EZET and CEPI has been stable across timeframes, ranging from 0.65 to 0.65 - a consistent structural relationship.

Return for Risk

EZET vs. CEPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EZET

EZET Risk / Return Rank: 3
EZET Sharpe Ratio Rank: 3
EZET Sortino Ratio Rank: 3
EZET Omega Ratio Rank: 3
EZET Calmar Ratio Rank: 3
EZET Martin Ratio Rank: 4

CEPI

CEPI Risk / Return Rank: 28
CEPI Sharpe Ratio Rank: 28
CEPI Sortino Ratio Rank: 29
CEPI Omega Ratio Rank: 28
CEPI Calmar Ratio Rank: 28
CEPI Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EZET vs. CEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Ethereum ETF (EZET) and REX Crypto Equity Premium Income ETF (CEPI). 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.

	EZET	CEPI	Difference
Sharpe ratio: Return per unit of total volatility	-0.74	0.74	-1.48
Sortino ratio: Return per unit of downside risk	-0.95	1.18	-2.13
Omega ratio: Gain probability vs. loss probability	0.89	1.15	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.72	0.96	-1.69
Martin ratio: Return relative to average drawdown	-1.07	2.24	-3.31

EZET vs. CEPI - Sharpe Ratio Comparison

The current EZET Sharpe Ratio is -0.74, which is lower than the CEPI Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of EZET and CEPI, 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

EZET vs. CEPI - Drawdown Comparison

The maximum EZET drawdown since its inception was -67.89%, which is greater than CEPI's maximum drawdown of -29.48%. Use the drawdown chart below to compare losses from any high point for EZET and CEPI.

Drawdown Indicators

	EZET	CEPI	Difference
Max Drawdown Largest peak-to-trough decline	-67.89%	-29.48%	-38.41%
Max Drawdown (1Y) Largest decline over 1 year	-67.89%	-22.47%	-45.42%
Current Drawdown Current decline from peak	-61.38%	-4.56%	-56.82%
Average Drawdown Average peak-to-trough decline	-35.30%	-8.22%	-27.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.69%	9.65%	+36.04%

Volatility

EZET vs. CEPI - Volatility Comparison

Franklin Ethereum ETF (EZET) and REX Crypto Equity Premium Income ETF (CEPI) have volatilities of 11.10% and 11.17%, 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

	EZET	CEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.10%	11.17%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	43.45%	23.73%	+19.72%
Volatility (1Y) Calculated over the trailing 1-year period	66.94%	29.34%	+37.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.19%	31.88%	+39.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.19%	31.88%	+39.31%

EZET vs. CEPI - Expense Ratio Comparison

EZET has a 0.19% expense ratio, which is lower than CEPI's 0.85% expense ratio.

Dividends

EZET vs. CEPI - Dividend Comparison

EZET has not paid dividends to shareholders, while CEPI's dividend yield for the trailing twelve months is around 44.15%.

Position	TTM	2025
CEPI REX Crypto Equity Premium Income ETF	44.15%	50.78%
EZET Franklin Ethereum ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both EZET and CEPI in my portfolio?

EZET and CEPI have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZET or CEPI?

CEPI has higher volatility (11.17%) compared to EZET (11.10%). In terms of maximum drawdown, EZET dropped -67.89% vs CEPI's -29.48%.

Which ETF is better, EZET or CEPI?

On 1-year performance, CEPI leads with 21.57% vs -49.07% for EZET. On fees, EZET is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZET or CEPI?

Over the 1-year period, CEPI has performed better with a 21.57% return vs -49.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZET or CEPI?

EZET is cheaper with a 0.19% expense ratio, compared with 0.85% for CEPI.

Which ETF pays a higher dividend yield, EZET or CEPI?

CEPI has the higher dividend yield at 44.15%, compared with 0.00% for EZET.

What is the main difference between EZET and CEPI?

EZET is categorized as Cryptocurrency, while CEPI is Derivative Income. They also come from different issuers: Franklin Templeton and REX. Their fees differ too: 0.19% for EZET and 0.85% for CEPI.

Which has better risk-adjusted returns?

CEPI currently has the higher Sharpe Ratio (0.74 vs -0.74), 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.