NEHI vs. ETCO
NEHI (NEOS Ethereum High Income ETF) and ETCO (Grayscale Ethereum Covered Call ETF) are both Cryptocurrency funds. Both are actively managed. Their correlation of 0.95 suggests significant overlap in exposure. NEHI charges 0.98%/yr vs 0.66%/yr for ETCO.
Performance
NEHI vs. ETCO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with NEHI having a -37.76% return and ETCO slightly higher at -36.71%.
NEHI
- 1D
- -1.04%
- 1M
- 4.13%
- 6M
- -40.37%
- YTD
- -37.76%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETCO
- 1D
- -0.12%
- 1M
- 1.67%
- 6M
- -38.73%
- YTD
- -36.71%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NEHI vs. ETCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NEHI NEOS Ethereum High Income ETF | -37.76% | -1.24% |
ETCO Grayscale Ethereum Covered Call ETF | -36.71% | 2.57% |
Correlation
The correlation between NEHI and ETCO is 0.95, 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 3, 2025 | 0.95 |
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Return for Risk
NEHI vs. ETCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Ethereum High Income ETF (NEHI) and Grayscale Ethereum Covered Call ETF (ETCO). 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.
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Drawdowns
NEHI vs. ETCO - Drawdown Comparison
The maximum NEHI drawdown since its inception was -50.12%, smaller than the maximum ETCO drawdown of -59.43%. Use the drawdown chart below to compare losses from any high point for NEHI and ETCO.
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Drawdown Indicators
| NEHI | ETCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.12% | -59.43% | +9.31% |
Current DrawdownCurrent decline from peak | -44.33% | -56.60% | +12.27% |
Average DrawdownAverage peak-to-trough decline | -28.53% | -37.06% | +8.53% |
Volatility
NEHI vs. ETCO - Volatility Comparison
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Volatility by Period
| NEHI | ETCO | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 58.43% | 51.80% | +6.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.43% | 51.80% | +6.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.43% | 51.80% | +6.63% |
NEHI vs. ETCO - Expense Ratio Comparison
NEHI has a 0.98% expense ratio, which is higher than ETCO's 0.66% expense ratio.
Dividends
NEHI vs. ETCO - Dividend Comparison
NEHI's dividend yield for the trailing twelve months is around 28.39%, less than ETCO's 146.28% yield.
| Position | TTM | 2025 |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | 146.28% | 42.29% |
NEHI NEOS Ethereum High Income ETF | 28.39% | 2.87% |
Frequently Asked Questions
With a correlation of 0.95, NEHI and ETCO 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, ETCO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETCO is cheaper with a 0.66% expense ratio, compared with 0.98% for NEHI.
ETCO has the higher dividend yield at 146.28%, compared with 28.39% for NEHI.
They also come from different issuers: Neos and Grayscale. Their fees differ too: 0.98% for NEHI and 0.66% for ETCO.
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