HDX1.DE vs. ETHA.DE
HDX1.DE (Hashdex Nasdaq Crypto Index Europe ETP EUR) and ETHA.DE (21Shares Ethereum Staking ETP) are both Cryptocurrency funds. HDX1.DE is passively managed, while ETHA.DE is actively managed. Over the past 3 years, HDX1.DE returned 19.62%/yr vs -4.07%/yr for ETHA.DE. Their correlation of 0.83 suggests significant overlap in exposure. HDX1.DE charges 1.00%/yr vs 1.49%/yr for ETHA.DE.
Performance
HDX1.DE vs. ETHA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HDX1.DE achieves a -29.97% return, which is significantly higher than ETHA.DE's -39.59% return.
HDX1.DE
- 1D
- -3.83%
- 1M
- -21.06%
- YTD
- -29.97%
- 6M
- -32.20%
- 1Y
- -41.17%
- 3Y*
- 19.62%
- 5Y*
- —
- 10Y*
- —
ETHA.DE
- 1D
- -3.89%
- 1M
- -23.90%
- YTD
- -39.59%
- 6M
- -41.48%
- 1Y
- -32.56%
- 3Y*
- -4.07%
- 5Y*
- -6.03%
- 10Y*
- —
HDX1.DE vs. ETHA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HDX1.DE Hashdex Nasdaq Crypto Index Europe ETP EUR | -29.97% | -21.32% | 108.60% | 133.00% | -27.55% |
ETHA.DE 21Shares Ethereum Staking ETP | -39.59% | -22.34% | 52.23% | 90.31% | -32.11% |
Correlation
The correlation between HDX1.DE and ETHA.DE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2022 | 0.83 |
The correlation between HDX1.DE and ETHA.DE has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
HDX1.DE vs. ETHA.DE — Risk / Return Rank
HDX1.DE
ETHA.DE
HDX1.DE vs. ETHA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE) and 21Shares Ethereum Staking ETP (ETHA.DE). 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.
| HDX1.DE | ETHA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.94 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.55 | -0.24 |
| Martin ratioReturn relative to average drawdown | -1.36 | -0.94 | -0.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HDX1.DE | ETHA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.96 | -0.57 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | -0.01 | +0.40 |
Drawdowns
HDX1.DE vs. ETHA.DE - Drawdown Comparison
The maximum HDX1.DE drawdown since its inception was -53.03%, smaller than the maximum ETHA.DE drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for HDX1.DE and ETHA.DE.
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Drawdown Indicators
| HDX1.DE | ETHA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.03% | -76.82% | +23.79% |
Max Drawdown (1Y)Largest decline over 1 year | -53.03% | -61.72% | +8.69% |
Max Drawdown (3Y)Largest decline over 3 years | -53.03% | -64.71% | +11.68% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.82% | — |
Current DrawdownCurrent decline from peak | -53.03% | -64.41% | +11.38% |
Average DrawdownAverage peak-to-trough decline | -16.03% | -43.74% | +27.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.87% | 36.35% | -5.48% |
Volatility
HDX1.DE vs. ETHA.DE - Volatility Comparison
Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE) and 21Shares Ethereum Staking ETP (ETHA.DE) have volatilities of 10.07% and 10.14%, 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.
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Volatility by Period
| HDX1.DE | ETHA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.07% | 10.14% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 32.86% | 42.04% | -9.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.43% | 59.62% | -16.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.02% | 67.07% | -16.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.02% | 69.50% | -18.48% |
HDX1.DE vs. ETHA.DE - Expense Ratio Comparison
HDX1.DE has a 1.00% expense ratio, which is lower than ETHA.DE's 1.49% expense ratio.
Dividends
HDX1.DE vs. ETHA.DE - Dividend Comparison
Neither HDX1.DE nor ETHA.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, HDX1.DE and ETHA.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HDX1.DE is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HDX1.DE is cheaper with a 1.00% expense ratio, compared with 1.49% for ETHA.DE.
They also come from different issuers: Hashdex and 21Shares. Their fees differ too: 1.00% for HDX1.DE and 1.49% for ETHA.DE.
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