NEHI vs. BTC
NEHI (NEOS Ethereum High Income ETF) and BTC (Grayscale Bitcoin Mini Trust ETF) are both Cryptocurrency funds. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. NEHI charges 0.98%/yr vs 0.15%/yr for BTC.
Performance
NEHI vs. BTC - Performance Comparison
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Returns By Period
In the year-to-date period, NEHI achieves a -35.82% return, which is significantly lower than BTC's -25.36% return.
NEHI
- 1D
- -5.42%
- 1M
- -21.57%
- YTD
- -35.82%
- 6M
- -37.76%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC
- 1D
- -2.73%
- 1M
- -18.40%
- YTD
- -25.36%
- 6M
- -29.74%
- 1Y
- -38.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NEHI vs. BTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NEHI NEOS Ethereum High Income ETF | -35.82% | -3.02% |
BTC Grayscale Bitcoin Mini Trust ETF | -25.36% | -5.88% |
Correlation
The correlation between NEHI and BTC is 0.91, 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 Dec 4, 2025 | 0.91 |
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Return for Risk
NEHI vs. BTC — Risk / Return Rank
NEHI
BTC
NEHI vs. BTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Ethereum High Income ETF (NEHI) and Grayscale Bitcoin Mini Trust ETF (BTC). 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.
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Sharpe Ratios by Period
| NEHI | BTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.89 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.08 | -0.00 | -1.08 |
Drawdowns
NEHI vs. BTC - Drawdown Comparison
The maximum NEHI drawdown since its inception was -42.60%, smaller than the maximum BTC drawdown of -49.34%. Use the drawdown chart below to compare losses from any high point for NEHI and BTC.
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Drawdown Indicators
| NEHI | BTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.60% | -49.34% | +6.74% |
Max Drawdown (1Y)Largest decline over 1 year | — | -49.34% | — |
Current DrawdownCurrent decline from peak | -42.60% | -47.98% | +5.38% |
Average DrawdownAverage peak-to-trough decline | -25.09% | -16.61% | -8.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 28.38% | — |
Volatility
NEHI vs. BTC - Volatility Comparison
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Volatility by Period
| NEHI | BTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.40% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 34.45% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 57.40% | 43.69% | +13.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.40% | 48.30% | +9.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.40% | 48.30% | +9.10% |
NEHI vs. BTC - Expense Ratio Comparison
NEHI has a 0.98% expense ratio, which is higher than BTC's 0.15% expense ratio.
Dividends
NEHI vs. BTC - Dividend Comparison
NEHI's dividend yield for the trailing twelve months is around 24.35%, while BTC has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BTC Grayscale Bitcoin Mini Trust ETF | 0.00% | 0.00% |
NEHI NEOS Ethereum High Income ETF | 24.35% | 2.87% |
Frequently Asked Questions
With a correlation of 0.91, NEHI and BTC 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, BTC is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTC is cheaper with a 0.15% expense ratio, compared with 0.98% for NEHI.
NEHI has the higher dividend yield at 24.35%, compared with 0.00% for BTC.
They also come from different issuers: Neos and Grayscale. Their fees differ too: 0.98% for NEHI and 0.15% for BTC.
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