ICOI vs. AETH

Last updated Apr 1, 2026

Compare and contrast key facts about Bitwise COIN Option Income Strategy ETF (ICOI) and Bitwise Ethereum Strategy ETF (AETH).

ICOI and AETH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICOI is an actively managed fund by Bitwise. It was launched on Apr 1, 2025. AETH is an actively managed fund by Bitwise. It was launched on Sep 29, 2023.

Performance

ICOI vs. AETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise COIN Option Income Strategy ETF (ICOI) and Bitwise Ethereum Strategy ETF (AETH). The values are adjusted to include any dividend payments, if applicable.

ICOI vs. AETH - Yearly Performance Comparison

	2026 (YTD)	2025
ICOI Bitwise COIN Option Income Strategy ETF	-21.92%	-7.98%
AETH Bitwise Ethereum Strategy ETF	-5.53%	35.38%

Returns By Period

In the year-to-date period, ICOI achieves a -21.92% return, which is significantly lower than AETH's -5.53% return.

ICOI

• 1D: 5.32%
• 1M: -7.30%
• YTD: -21.92%
• 6M: -47.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AETH

• 1D: -0.03%
• 1M: -2.72%
• YTD: -5.53%
• 6M: -26.96%
• 1Y: 27.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICOI vs. AETH - Expense Ratio Comparison

ICOI has a 0.98% expense ratio, which is higher than AETH's 0.90% expense ratio.

ICOI

Bitwise COIN Option Income Strategy ETF

AETH

Bitwise Ethereum Strategy ETF

Return for Risk

ICOI vs. AETH — Risk / Return Rank

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

AETH

AETH Risk / Return Rank: 35
AETH Sharpe Ratio Rank: 31
AETH Sortino Ratio Rank: 48
AETH Omega Ratio Rank: 49
AETH Calmar Ratio Rank: 27
AETH Martin Ratio Rank: 19

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.

ICOI vs. AETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise COIN Option Income Strategy ETF (ICOI) and Bitwise Ethereum Strategy ETF (AETH). 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.

Sharpe Ratios by Period

	ICOI	AETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	0.43	-0.98

Correlation

The correlation between ICOI and AETH is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ICOI vs. AETH - Dividend Comparison

ICOI's dividend yield for the trailing twelve months is around 373.22%, more than AETH's 2.55% yield.

	TTM	2025	2024	2023
ICOI Bitwise COIN Option Income Strategy ETF	373.22%	247.40%	0.00%	0.00%
AETH Bitwise Ethereum Strategy ETF	2.55%	2.41%	14.73%	6.64%

Drawdowns

ICOI vs. AETH - Drawdown Comparison

The maximum ICOI drawdown since its inception was -58.10%, which is greater than AETH's maximum drawdown of -47.78%. Use the drawdown chart below to compare losses from any high point for ICOI and AETH.

Drawdown Indicators

	ICOI	AETH	Difference
Max Drawdown Largest peak-to-trough decline	-58.10%	-47.78%	-10.32%
Max Drawdown (1Y) Largest decline over 1 year	—	-41.40%	—
Current Drawdown Current decline from peak	-55.07%	-41.20%	-13.87%
Average Drawdown Average peak-to-trough decline	-23.12%	-23.48%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	25.68%	—

Volatility

Volatility by Period

	ICOI	AETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	52.11%	51.05%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.11%	56.19%	-4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.11%	56.19%	-4.08%