IETH vs. BITB
IETH (Bitwise Ethereum Option Income Strategy ETF) and BITB (Bitwise Bitcoin ETF) are both exchange-traded funds - IETH is a Derivative Income fund actively managed by Bitwise, while BITB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. IETH is actively managed, while BITB is passively managed. Their correlation of 0.90 means they have usually moved in the same direction. IETH charges 0.97%/yr vs 0.20%/yr for BITB.
Performance
IETH vs. BITB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IETH achieves a -32.43% return, which is significantly lower than BITB's -27.14% return.
IETH
- 1D
- 0.43%
- 1M
- 7.22%
- 6M
- -14.64%
- YTD
- -32.43%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
BITB
- 1D
- 1.52%
- 1M
- 3.90%
- 6M
- -18.16%
- YTD
- -27.14%
- 1Y
- -43.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.64M | $38.20M | $55.77M | |
| $5.90K | $4.22K | $6.65K |
IETH vs. BITB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IETH Bitwise Ethereum Option Income Strategy ETF | -32.43% | -27.34% |
BITB Bitwise Bitcoin ETF | -27.14% | -25.59% |
Correlation
The correlation between IETH and BITB is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025 | 0.90 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IETH vs. BITB — Risk / Return Rank
IETH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BITB
IETH vs. BITB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Option Income Strategy ETF (IETH) and Bitwise Bitcoin ETF (BITB). 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.
| IETH | BITB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.84 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.82 | — |
| Martin ratioReturn relative to average drawdown | — | -1.26 | — |
Loading charts...
Drawdowns
IETH vs. BITB - Drawdown Comparison
The maximum IETH drawdown since its inception was -59.76%, which is greater than BITB's maximum drawdown of -53.33%. Use the drawdown chart below to compare losses from any high point for IETH and BITB.
Loading charts...
Drawdown Indicators
| IETH | BITB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.76% | -53.33% | -6.43% |
Max Drawdown (1Y)Largest decline over 1 year | — | -53.33% | — |
Current DrawdownCurrent decline from peak | -53.29% | -49.25% | -4.04% |
Average DrawdownAverage peak-to-trough decline | -40.45% | -18.29% | -22.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 34.78% | — |
Volatility
IETH vs. BITB - Volatility Comparison
Loading charts...
Volatility by Period
| IETH | BITB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.85% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 33.75% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 57.92% | 44.39% | +13.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.92% | 49.35% | +8.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.92% | 49.35% | +8.57% |
IETH vs. BITB - Expense Ratio Comparison
IETH has a 0.97% expense ratio, which is higher than BITB's 0.20% expense ratio.
Dividends
IETH vs. BITB - Dividend Comparison
IETH's dividend yield for the trailing twelve months is around 46.82%, while BITB has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BITB Bitwise Bitcoin ETF | 0.00% | 0.00% |
IETH Bitwise Ethereum Option Income Strategy ETF | 46.82% | 18.26% |
Frequently Asked Questions
With a correlation of 0.90, IETH and BITB 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, BITB is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BITB is cheaper with a 0.20% expense ratio, compared with 0.97% for IETH.
IETH has the higher dividend yield at 46.82%, compared with 0.00% for BITB.
IETH is categorized as Derivative Income, while BITB is Cryptocurrency. Their fees differ too: 0.97% for IETH and 0.20% for BITB.
Find the right allocation for IETH and BITB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer