NEHI vs. ETH
NEHI (NEOS Ethereum High Income ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. Both are actively managed. With a 0.98 correlation, they move nearly in lockstep. NEHI charges 0.98%/yr vs 0.15%/yr for ETH.
Performance
NEHI vs. ETH - Performance Comparison
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Returns By Period
In the year-to-date period, NEHI achieves a -35.82% return, which is significantly higher than ETH's -38.95% return.
NEHI
- 1D
- -5.42%
- 1M
- -21.57%
- YTD
- -35.82%
- 6M
- -37.76%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH
- 1D
- -5.52%
- 1M
- -23.42%
- YTD
- -38.95%
- 6M
- -42.17%
- 1Y
- -30.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NEHI vs. ETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NEHI NEOS Ethereum High Income ETF | -35.82% | -3.02% |
ETH Grayscale Ethereum Staking Mini ETF | -38.95% | -5.27% |
Correlation
The correlation between NEHI and ETH is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025 | 0.98 |
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Return for Risk
NEHI vs. ETH — Risk / Return Rank
NEHI
ETH
NEHI vs. ETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Ethereum High Income ETF (NEHI) and Grayscale Ethereum Staking Mini ETF (ETH). 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 | ETH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.08 | -0.41 | -0.67 |
Drawdowns
NEHI vs. ETH - Drawdown Comparison
The maximum NEHI drawdown since its inception was -42.60%, smaller than the maximum ETH drawdown of -64.01%. Use the drawdown chart below to compare losses from any high point for NEHI and ETH.
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Drawdown Indicators
| NEHI | ETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.60% | -64.01% | +21.41% |
Max Drawdown (1Y)Largest decline over 1 year | — | -62.40% | — |
Current DrawdownCurrent decline from peak | -42.60% | -62.40% | +19.80% |
Average DrawdownAverage peak-to-trough decline | -25.09% | -32.58% | +7.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 37.50% | — |
Volatility
NEHI vs. ETH - Volatility Comparison
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Volatility by Period
| NEHI | ETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.90% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 46.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 57.40% | 68.34% | -10.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.40% | 72.26% | -14.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.40% | 72.26% | -14.86% |
NEHI vs. ETH - Expense Ratio Comparison
NEHI has a 0.98% expense ratio, which is higher than ETH's 0.15% expense ratio.
Dividends
NEHI vs. ETH - Dividend Comparison
NEHI's dividend yield for the trailing twelve months is around 24.35%, while ETH has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | 0.00% | 0.00% |
NEHI NEOS Ethereum High Income ETF | 24.35% | 2.87% |
Frequently Asked Questions
With a correlation of 0.98, NEHI and ETH 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, ETH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETH 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 ETH.
They also come from different issuers: Neos and Grayscale. Their fees differ too: 0.98% for NEHI and 0.15% for ETH.
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