IETH vs. CLNK

Last updated Jun 4, 2026

IETH (Bitwise Ethereum Option Income Strategy ETF) and CLNK (Bitwise Chainlink ETF) are both exchange-traded funds - IETH is a Derivative Income fund actively managed by Bitwise, while CLNK is a Cryptocurrency fund tracking the Chainlink (LINK) spot price. IETH is actively managed, while CLNK is passively managed. Their correlation of 0.89 suggests significant overlap in exposure. IETH charges 0.97%/yr vs 0.34%/yr for CLNK.

Performance

IETH vs. CLNK - Performance Comparison

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

Returns By Period

IETH

• 1D: -5.08%
• 1M: -18.82%
• YTD: -33.82%
• 6M: -35.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLNK

• 1D: -4.18%
• 1M: -12.86%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IETH vs. CLNK - Yearly Performance Comparison

	2026 (YTD)
IETH Bitwise Ethereum Option Income Strategy ETF	-40.20%
CLNK Bitwise Chainlink ETF	-41.92%

Correlation

The correlation between IETH and CLNK 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 (All Time) Calculated using the full available price history since Jan 15, 2026	0.89

Return for Risk

IETH vs. CLNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Option Income Strategy ETF (IETH) and Bitwise Chainlink ETF (CLNK). 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

	IETH	CLNK	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.13	-1.14	0.00

Drawdowns

IETH vs. CLNK - Drawdown Comparison

The maximum IETH drawdown since its inception was -55.94%, which is greater than CLNK's maximum drawdown of -43.56%. Use the drawdown chart below to compare losses from any high point for IETH and CLNK.

Drawdown Indicators

	IETH	CLNK	Difference
Max Drawdown Largest peak-to-trough decline	-55.94%	-43.56%	-12.38%
Current Drawdown Current decline from peak	-54.25%	-41.92%	-12.33%
Average Drawdown Average peak-to-trough decline	-37.10%	-32.34%	-4.76%

Volatility

Volatility by Period

	IETH	CLNK	Difference
Volatility (1Y) Calculated over the trailing 1-year period	59.79%	67.16%	-7.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.79%	67.16%	-7.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.79%	67.16%	-7.37%

IETH vs. CLNK - Expense Ratio Comparison

IETH has a 0.97% expense ratio, which is higher than CLNK's 0.34% expense ratio.

Dividends

IETH vs. CLNK - Dividend Comparison

IETH's dividend yield for the trailing twelve months is around 46.99%, while CLNK has not paid dividends to shareholders.

Position	TTM	2025
CLNK Bitwise Chainlink ETF	0.00%	0.00%
IETH Bitwise Ethereum Option Income Strategy ETF	46.99%	18.26%

Frequently Asked Questions

Can I hold both IETH and CLNK in my portfolio?

IETH and CLNK 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 ETF is better, IETH or CLNK?

On fees, CLNK is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IETH or CLNK?

CLNK is cheaper with a 0.34% expense ratio, compared with 0.97% for IETH.

Which ETF pays a higher dividend yield, IETH or CLNK?

IETH has the higher dividend yield at 46.99%, compared with 0.00% for CLNK.

What is the main difference between IETH and CLNK?

IETH is categorized as Derivative Income, while CLNK is Cryptocurrency. Their fees differ too: 0.97% for IETH and 0.34% for CLNK.