GSUI vs. ETHA

Last updated Jun 4, 2026

GSUI (Grayscale Sui Staking ETF) and ETHA (iShares Ethereum Trust ETF) are both Cryptocurrency funds - GSUI tracks the CoinDesk SUI Reference Rate while ETHA tracks the CME CF Ether Dollar Reference Rate - New York Variant. Both are passively managed. A 0.58 correlation means they provide meaningful diversification when combined. GSUI charges 0.00%/yr vs 0.25%/yr for ETHA.

Performance

GSUI vs. ETHA - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with GSUI having a -39.93% return and ETHA slightly higher at -39.46%.

GSUI

• 1D: -1.09%
• 1M: -12.82%
• YTD: -39.93%
• 6M: -46.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHA

• 1D: -5.56%
• 1M: -23.58%
• YTD: -39.46%
• 6M: -42.75%
• 1Y: -31.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSUI vs. ETHA - Yearly Performance Comparison

	2026 (YTD)	2025
GSUI Grayscale Sui Staking ETF	-39.93%	-34.63%
ETHA iShares Ethereum Trust ETF	-39.46%	-0.09%

Correlation

The correlation between GSUI and ETHA is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.58

Return for Risk

GSUI vs. ETHA — Risk / Return Rank

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

ETHA

ETHA Risk / Return Rank: 5
ETHA Sharpe Ratio Rank: 5
ETHA Sortino Ratio Rank: 5
ETHA Omega Ratio Rank: 5
ETHA Calmar Ratio Rank: 4
ETHA 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.

GSUI vs. ETHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Sui Staking ETF (GSUI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GSUI	ETHA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	-0.41	-0.37

Drawdowns

GSUI vs. ETHA - Drawdown Comparison

The maximum GSUI drawdown since its inception was -60.73%, smaller than the maximum ETHA drawdown of -64.02%. Use the drawdown chart below to compare losses from any high point for GSUI and ETHA.

Drawdown Indicators

	GSUI	ETHA	Difference
Max Drawdown Largest peak-to-trough decline	-60.73%	-64.02%	+3.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-62.89%	—
Current Drawdown Current decline from peak	-60.73%	-62.89%	+2.16%
Average Drawdown Average peak-to-trough decline	-43.81%	-32.65%	-11.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	37.73%	—

Volatility

Volatility by Period

	GSUI	ETHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	107.79%	68.61%	+39.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.79%	72.53%	+35.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.79%	72.53%	+35.26%

GSUI vs. ETHA - Expense Ratio Comparison

GSUI has a 0.00% 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

GSUI vs. ETHA - Dividend Comparison

Neither GSUI nor ETHA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GSUI and ETHA in my portfolio?

GSUI and ETHA have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GSUI or ETHA?

On fees, GSUI is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GSUI or ETHA?

GSUI is cheaper with a 0.00% expense ratio, compared with 0.25% for ETHA.

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

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

What is the main difference between GSUI and ETHA?

GSUI tracks CoinDesk SUI Reference Rate, while ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant. They also come from different issuers: Grayscale and iShares. Their fees differ too: 0.00% for GSUI and 0.25% for ETHA.