HBR vs. ETH
HBR (Canary HBAR ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. Both are actively managed. Their correlation of 0.80 suggests significant overlap in exposure. HBR charges 0.50%/yr vs 0.15%/yr for ETH.
Performance
HBR vs. ETH - Performance Comparison
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Returns By Period
In the year-to-date period, HBR achieves a -21.13% return, which is significantly higher than ETH's -39.91% return.
HBR
- 1D
- -0.93%
- 1M
- -6.67%
- YTD
- -21.13%
- 6M
- -39.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH
- 1D
- -1.58%
- 1M
- -25.17%
- YTD
- -39.91%
- 6M
- -43.14%
- 1Y
- -31.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBR vs. ETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBR Canary HBAR ETF | -21.13% | -46.02% |
ETH Grayscale Ethereum Staking Mini ETF | -39.91% | -26.27% |
Correlation
The correlation between HBR and ETH is 0.80, 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 | 0.80 |
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Return for Risk
HBR vs. ETH — Risk / Return Rank
HBR
ETH
HBR vs. ETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canary HBAR ETF (HBR) and Grayscale Ethereum Staking Mini ETF (ETH). 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.
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Sharpe Ratios by Period
| HBR | ETH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.03 | -0.42 | -0.62 |
Drawdowns
HBR vs. ETH - Drawdown Comparison
The maximum HBR drawdown since its inception was -61.62%, roughly equal to the maximum ETH drawdown of -64.01%. Use the drawdown chart below to compare losses from any high point for HBR and ETH.
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Drawdown Indicators
| HBR | ETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.62% | -64.01% | +2.39% |
Max Drawdown (1Y)Largest decline over 1 year | — | -62.99% | — |
Current DrawdownCurrent decline from peak | -57.93% | -62.99% | +5.06% |
Average DrawdownAverage peak-to-trough decline | -45.15% | -32.64% | -12.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 37.71% | — |
Volatility
HBR vs. ETH - Volatility Comparison
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Volatility by Period
| HBR | ETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.68% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 45.30% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 73.88% | 68.25% | +5.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.88% | 72.19% | +1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.88% | 72.19% | +1.69% |
HBR vs. ETH - Expense Ratio Comparison
HBR has a 0.50% expense ratio, which is higher than ETH's 0.15% expense ratio.
Dividends
HBR vs. ETH - Dividend Comparison
Neither HBR nor ETH has paid dividends to shareholders.
Frequently Asked Questions
HBR and ETH have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETH is cheaper with a 0.15% expense ratio, compared with 0.50% for HBR.
HBR and ETH have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Canary Capital and Grayscale. Their fees differ too: 0.50% for HBR and 0.15% for ETH.
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