IBIT vs. ETHA

Last updated Jul 15, 2026

IBIT (iShares Bitcoin Trust ETF) and ETHA (iShares Ethereum Trust ETF) are both Cryptocurrency funds from iShares - IBIT tracks the CME CF Bitcoin Reference Rate - New York Variant while ETHA tracks the CME CF Ether Dollar Reference Rate - New York Variant. Both are passively managed. Over the past year, IBIT returned -46.35% vs -37.67% for ETHA. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

IBIT vs. ETHA - Performance Comparison

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

Returns By Period

In the year-to-date period, IBIT achieves a -26.32% return, which is significantly higher than ETHA's -36.78% return.

IBIT

• 1D: 3.86%
• 1M: 1.50%
• 6M: -31.72%
• YTD: -26.32%
• 1Y: -46.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHA

• 1D: 6.06%
• 1M: 12.81%
• 6M: -41.45%
• YTD: -36.78%
• 1Y: -37.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBIT vs. ETHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBIT iShares Bitcoin Trust ETF	-26.32%	-6.41%	36.27%
ETHA iShares Ethereum Trust ETF	-36.78%	-11.31%	-4.89%

Correlation

The correlation between IBIT and ETHA is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.82

The correlation between IBIT and ETHA has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Return for Risk

IBIT vs. ETHA — Risk / Return Rank

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

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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: 5
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.

IBIT vs. ETHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.

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.

	IBIT	ETHA	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-0.55	-0.50
Sortino ratio: Return per unit of downside risk	-1.58	-0.49	-1.09
Omega ratio: Gain probability vs. loss probability	0.83	0.94	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.56	-0.32
Martin ratio: Return relative to average drawdown	-1.41	-0.87	-0.54

IBIT vs. ETHA - Sharpe Ratio Comparison

The current IBIT Sharpe Ratio is -1.05, which is lower than the ETHA Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of IBIT and ETHA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBIT vs. ETHA - Drawdown Comparison

The maximum IBIT drawdown since its inception was -53.30%, smaller than the maximum ETHA drawdown of -67.91%. Use the drawdown chart below to compare losses from any high point for IBIT and ETHA.

Drawdown Indicators

	IBIT	ETHA	Difference
Max Drawdown Largest peak-to-trough decline	-53.30%	-67.91%	+14.61%
Max Drawdown (1Y) Largest decline over 1 year	-53.30%	-67.91%	+14.61%
Current Drawdown Current decline from peak	-48.69%	-61.25%	+12.56%
Average Drawdown Average peak-to-trough decline	-17.61%	-34.53%	+16.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.86%	43.21%	-10.35%

Volatility

IBIT vs. ETHA - Volatility Comparison

The current volatility for iShares Bitcoin Trust ETF (IBIT) is 11.82%, while iShares Ethereum Trust ETF (ETHA) has a volatility of 16.93%. This indicates that IBIT experiences smaller price fluctuations and is considered to be less risky than ETHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBIT	ETHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.82%	16.93%	-5.11%
Volatility (6M) Calculated over the trailing 6-month period	35.03%	47.63%	-12.60%
Volatility (1Y) Calculated over the trailing 1-year period	44.48%	68.64%	-24.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.99%	72.20%	-22.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.99%	72.20%	-22.21%

IBIT vs. ETHA - Expense Ratio Comparison

Both IBIT and ETHA have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IBIT vs. ETHA - Dividend Comparison

Neither IBIT nor ETHA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IBIT and ETHA in my portfolio?

IBIT and ETHA have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBIT or ETHA?

ETHA has higher volatility (16.93%) compared to IBIT (11.82%). In terms of maximum drawdown, IBIT dropped -53.30% vs ETHA's -67.91%.

Which ETF is better, IBIT or ETHA?

On 1-year performance, ETHA leads with -37.67% vs -46.35% for IBIT. Both ETFs have the same 0.25% expense ratio. On volatility, IBIT has been the lower-risk option at 11.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBIT or ETHA?

Over the 1-year period, ETHA has performed better with a -37.67% return vs -46.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBIT or ETHA?

IBIT and ETHA have the same expense ratio: 0.25% per year.

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

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

What is the main difference between IBIT and ETHA?

IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant.

Which has better risk-adjusted returns?

ETHA currently has the higher Sharpe Ratio (-0.55 vs -1.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.