HDXM.DE vs. ETHA.DE
Compare and contrast key facts about Hashdex Crypto Momentum Factor ETN (HDXM.DE) and 21Shares Ethereum Staking ETP (ETHA.DE).
HDXM.DE and ETHA.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HDXM.DE is a passively managed fund by Hashdex that tracks the performance of the Kaiko Hashdex Risk Parity Momentum Crypto Index. It was launched on Nov 1, 2022. ETHA.DE is an actively managed fund by 21Shares. It was launched on Mar 4, 2019.
Performance
HDXM.DE vs. ETHA.DE - Performance Comparison
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HDXM.DE vs. ETHA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HDXM.DE Hashdex Crypto Momentum Factor ETN | -17.42% | -35.51% | 65.37% | 130.19% | -31.57% |
ETHA.DE 21Shares Ethereum Staking ETP | -27.43% | -22.34% | 52.23% | 90.31% | -28.26% |
Returns By Period
In the year-to-date period, HDXM.DE achieves a -17.42% return, which is significantly higher than ETHA.DE's -27.43% return.
HDXM.DE
- 1D
- 1.40%
- 1M
- 3.07%
- YTD
- -17.42%
- 6M
- -45.85%
- 1Y
- -28.59%
- 3Y*
- 12.95%
- 5Y*
- —
- 10Y*
- —
ETHA.DE
- 1D
- 2.64%
- 1M
- 4.89%
- YTD
- -27.43%
- 6M
- -50.37%
- 1Y
- 3.63%
- 3Y*
- 2.74%
- 5Y*
- 1.60%
- 10Y*
- —
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HDXM.DE vs. ETHA.DE - Expense Ratio Comparison
Both HDXM.DE and ETHA.DE have an expense ratio of 1.49%.
Return for Risk
HDXM.DE vs. ETHA.DE — Risk / Return Rank
HDXM.DE
ETHA.DE
HDXM.DE vs. ETHA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Crypto Momentum Factor ETN (HDXM.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.
| HDXM.DE | ETHA.DE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.62 | 0.06 | -0.67 |
Sortino ratioReturn per unit of downside risk | -0.68 | 0.56 | -1.25 |
Omega ratioGain probability vs. loss probability | 0.92 | 1.06 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | -0.54 | 0.07 | -0.61 |
Martin ratioReturn relative to average drawdown | -1.02 | 0.15 | -1.16 |
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
| HDXM.DE | ETHA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | 0.06 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.01 | +0.19 |
Correlation
The correlation between HDXM.DE and ETHA.DE is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HDXM.DE vs. ETHA.DE - Dividend Comparison
Neither HDXM.DE nor ETHA.DE has paid dividends to shareholders.
Drawdowns
HDXM.DE vs. ETHA.DE - Drawdown Comparison
The maximum HDXM.DE drawdown since its inception was -62.68%, smaller than the maximum ETHA.DE drawdown of -95.71%. Use the drawdown chart below to compare losses from any high point for HDXM.DE and ETHA.DE.
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Drawdown Indicators
| HDXM.DE | ETHA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.68% | -95.71% | +33.03% |
Max Drawdown (1Y)Largest decline over 1 year | -53.24% | -60.95% | +7.71% |
Max Drawdown (5Y)Largest decline over 5 years | — | -95.71% | — |
Current DrawdownCurrent decline from peak | -59.55% | -92.08% | +32.53% |
Average DrawdownAverage peak-to-trough decline | -23.80% | -88.55% | +64.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.15% | 29.20% | -1.05% |
Volatility
HDXM.DE vs. ETHA.DE - Volatility Comparison
The current volatility for Hashdex Crypto Momentum Factor ETN (HDXM.DE) is 9.70%, while 21Shares Ethereum Staking ETP (ETHA.DE) has a volatility of 16.92%. This indicates that HDXM.DE experiences smaller price fluctuations and is considered to be less risky than ETHA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDXM.DE | ETHA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.70% | 16.92% | -7.22% |
Volatility (6M)Calculated over the trailing 6-month period | 33.52% | 45.41% | -11.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.35% | 65.31% | -18.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.59% | 544.60% | -491.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.59% | 541.03% | -487.44% |