GSUI vs. ETHE

Last updated Jul 14, 2026

GSUI (Grayscale Sui Staking ETF) and ETHE (Grayscale Ethereum Trust ETF) are both Cryptocurrency funds from Grayscale - GSUI tracks the CoinDesk SUI Reference Rate while ETHE tracks the CoinDesk Ether Price Index. Both are passively managed. A 0.61 correlation means they provide meaningful diversification when combined. GSUI charges 0.00%/yr vs 2.50%/yr for ETHE.

Performance

GSUI vs. ETHE - Performance Comparison

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

Returns By Period

In the year-to-date period, GSUI achieves a -46.74% return, which is significantly lower than ETHE's -40.62% return.

GSUI

• 1D: -2.57%
• 1M: -3.64%
• 6M: -56.70%
• YTD: -46.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHE

• 1D: -1.11%
• 1M: 6.40%
• 6M: -43.12%
• YTD: -40.62%
• 1Y: -41.93%
• 3Y*: 8.63%
• 5Y*: -4.71%
• 10Y*: —

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

GSUI vs. ETHE - Yearly Performance Comparison

	2026 (YTD)	2025
GSUI Grayscale Sui Staking ETF	-46.74%	-42.99%
ETHE Grayscale Ethereum Trust ETF	-40.62%	8.41%

Correlation

The correlation between GSUI and ETHE is 0.61, 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 24, 2025	0.61

Return for Risk

GSUI vs. ETHE — Risk / Return Rank

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

GSUI

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

ETHE

ETHE Risk / Return Rank: 4
ETHE Sharpe Ratio Rank: 4
ETHE Sortino Ratio Rank: 5
ETHE Omega Ratio Rank: 5
ETHE Calmar Ratio Rank: 4
ETHE 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. ETHE - Risk-Adjusted Trends Comparison

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

	GSUI	ETHE	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.62	—
Sortino ratio: Return per unit of downside risk	—	-0.65	—
Omega ratio: Gain probability vs. loss probability	—	0.93	—
Calmar ratio: Return relative to maximum drawdown	—	-0.62	—
Martin ratio: Return relative to average drawdown	—	-0.97	—

Drawdowns

GSUI vs. ETHE - Drawdown Comparison

The maximum GSUI drawdown since its inception was -71.63%, smaller than the maximum ETHE drawdown of -96.26%. Use the drawdown chart below to compare losses from any high point for GSUI and ETHE.

Drawdown Indicators

	GSUI	ETHE	Difference
Max Drawdown Largest peak-to-trough decline	-71.63%	-96.26%	+24.63%
Max Drawdown (1Y) Largest decline over 1 year	—	-68.17%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-68.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-89.85%	—
Current Drawdown Current decline from peak	-69.64%	-77.54%	+7.90%
Average Drawdown Average peak-to-trough decline	-53.77%	-72.28%	+18.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	43.30%	—

Volatility

Volatility by Period

	GSUI	ETHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	102.83%	68.14%	+34.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	102.83%	81.69%	+21.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	102.83%	190.54%	-87.71%

GSUI vs. ETHE - Expense Ratio Comparison

GSUI has a 0.00% expense ratio, which is lower than ETHE's 2.50% expense ratio.

Dividends

GSUI vs. ETHE - Dividend Comparison

GSUI has not paid dividends to shareholders, while ETHE's dividend yield for the trailing twelve months is around 1.53%.

Position	TTM
ETHE Grayscale Ethereum Trust ETF	1.53%
GSUI Grayscale Sui Staking ETF	0.00%

Frequently Asked Questions

Can I hold both GSUI and ETHE in my portfolio?

GSUI and ETHE have a correlation of 0.61, 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 ETHE?

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 ETHE?

GSUI is cheaper with a 0.00% expense ratio, compared with 2.50% for ETHE.

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

ETHE has the higher dividend yield at 1.53%, compared with 0.00% for GSUI.

What is the main difference between GSUI and ETHE?

GSUI tracks CoinDesk SUI Reference Rate, while ETHE tracks CoinDesk Ether Price Index. Their fees differ too: 0.00% for GSUI and 2.50% for ETHE.