IETH vs. XRP

Last updated Jun 24, 2026

IETH (Bitwise Ethereum Option Income Strategy ETF) and XRP (Bitwise XRP ETF) are both exchange-traded funds - IETH is a Derivative Income fund actively managed by Bitwise, while XRP is a Cryptocurrency fund actively managed by Bitwise. Both are actively managed. Their correlation of 0.85 suggests significant overlap in exposure. IETH charges 0.97%/yr vs 0.34%/yr for XRP.

Performance

IETH vs. XRP - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with IETH having a -38.45% return and XRP slightly lower at -39.96%.

IETH

• 1D: -3.27%
• 1M: -17.57%
• YTD: -38.45%
• 6M: -35.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRP

• 1D: -2.92%
• 1M: -17.65%
• YTD: -39.96%
• 6M: -41.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IETH vs. XRP - Yearly Performance Comparison

	2026 (YTD)	2025
IETH Bitwise Ethereum Option Income Strategy ETF	-38.45%	5.66%
XRP Bitwise XRP ETF	-39.96%	-15.03%

Correlation

The correlation between IETH and XRP is 0.85, 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 Nov 20, 2025	0.85

Return for Risk

IETH vs. XRP - Risk-Adjusted Trends Comparison

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

IETH vs. XRP - Drawdown Comparison

The maximum IETH drawdown since its inception was -59.55%, which is greater than XRP's maximum drawdown of -52.72%. Use the drawdown chart below to compare losses from any high point for IETH and XRP.

Drawdown Indicators

	IETH	XRP	Difference
Max Drawdown Largest peak-to-trough decline	-59.55%	-52.72%	-6.83%
Current Drawdown Current decline from peak	-57.45%	-52.52%	-4.93%
Average Drawdown Average peak-to-trough decline	-38.29%	-31.42%	-6.87%

Volatility

Volatility by Period

	IETH	XRP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	60.54%	76.12%	-15.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.54%	76.12%	-15.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.54%	76.12%	-15.58%

IETH vs. XRP - Expense Ratio Comparison

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

Dividends

IETH vs. XRP - Dividend Comparison

IETH's dividend yield for the trailing twelve months is around 50.52%, while XRP has not paid dividends to shareholders.

Position	TTM	2025
IETH Bitwise Ethereum Option Income Strategy ETF	50.52%	18.26%
XRP Bitwise XRP ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both IETH and XRP in my portfolio?

IETH and XRP have a correlation of 0.85, 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 XRP?

On fees, XRP 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 XRP?

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

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

IETH has the higher dividend yield at 50.52%, compared with 0.00% for XRP.

What is the main difference between IETH and XRP?

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