OWNB vs. AETH

Last updated Jun 25, 2026

OWNB (Bitwise Bitcoin Standard Corporations ETF) and AETH (Bitwise Ethereum Strategy ETF) are both exchange-traded funds - OWNB is a Blockchain fund tracking the Bitwise Bitcoin Standard Corporations Inde, while AETH is a Cryptocurrency fund actively managed by Bitwise. OWNB is passively managed, while AETH is actively managed. Over the past year, OWNB returned -39.83% vs -14.41% for AETH. At a 0.40 correlation, their price movements are largely independent. OWNB charges 0.85%/yr vs 0.90%/yr for AETH.

Performance

OWNB vs. AETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Bitcoin Standard Corporations ETF (OWNB) and Bitwise Ethereum Strategy ETF (AETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OWNB achieves a -14.02% return, which is significantly higher than AETH's -17.82% return.

OWNB

• 1D: -5.19%
• 1M: -16.07%
• YTD: -14.02%
• 6M: -19.83%
• 1Y: -39.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AETH

• 1D: -4.82%
• 1M: -8.81%
• YTD: -17.82%
• 6M: -17.79%
• 1Y: -14.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OWNB vs. AETH - Yearly Performance Comparison

	2026 (YTD)	2025
OWNB Bitwise Bitcoin Standard Corporations ETF	-14.02%	-1.19%
AETH Bitwise Ethereum Strategy ETF	-17.82%	18.33%

Correlation

The correlation between OWNB and AETH is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025	0.40

Return for Risk

OWNB vs. AETH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OWNB

OWNB Risk / Return Rank: 4
OWNB Sharpe Ratio Rank: 4
OWNB Sortino Ratio Rank: 4
OWNB Omega Ratio Rank: 4
OWNB Calmar Ratio Rank: 4
OWNB Martin Ratio Rank: 4

AETH

AETH Risk / Return Rank: 6
AETH Sharpe Ratio Rank: 6
AETH Sortino Ratio Rank: 6
AETH Omega Ratio Rank: 6
AETH Calmar Ratio Rank: 6
AETH Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OWNB vs. AETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Standard Corporations ETF (OWNB) and Bitwise Ethereum Strategy ETF (AETH). 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.

	OWNB	AETH	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	-0.33	-0.36
Sortino ratio: Return per unit of downside risk	-0.82	-0.21	-0.61
Omega ratio: Gain probability vs. loss probability	0.91	0.97	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.67	-0.30	-0.38
Martin ratio: Return relative to average drawdown	-1.11	-0.44	-0.67

OWNB vs. AETH - Sharpe Ratio Comparison

The current OWNB Sharpe Ratio is -0.69, which is lower than the AETH Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of OWNB and AETH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OWNB vs. AETH - Drawdown Comparison

The maximum OWNB drawdown since its inception was -59.47%, which is greater than AETH's maximum drawdown of -48.85%. Use the drawdown chart below to compare losses from any high point for OWNB and AETH.

Drawdown Indicators

	OWNB	AETH	Difference
Max Drawdown Largest peak-to-trough decline	-59.47%	-48.85%	-10.62%
Max Drawdown (1Y) Largest decline over 1 year	-59.47%	-48.85%	-10.62%
Current Drawdown Current decline from peak	-51.56%	-48.85%	-2.71%
Average Drawdown Average peak-to-trough decline	-25.79%	-25.09%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.77%	32.47%	+3.30%

Volatility

OWNB vs. AETH - Volatility Comparison

Bitwise Bitcoin Standard Corporations ETF (OWNB) has a higher volatility of 16.54% compared to Bitwise Ethereum Strategy ETF (AETH) at 6.43%. This indicates that OWNB's price experiences larger fluctuations and is considered to be riskier than AETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWNB	AETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.54%	6.43%	+10.11%
Volatility (6M) Calculated over the trailing 6-month period	43.46%	25.54%	+17.92%
Volatility (1Y) Calculated over the trailing 1-year period	58.27%	43.78%	+14.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.46%	54.27%	+8.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.46%	54.27%	+8.19%

OWNB vs. AETH - Expense Ratio Comparison

OWNB has a 0.85% expense ratio, which is lower than AETH's 0.90% expense ratio.

Dividends

OWNB vs. AETH - Dividend Comparison

OWNB's dividend yield for the trailing twelve months is around 1.01%, less than AETH's 2.93% yield.

Position	TTM	2025	2024	2023
AETH Bitwise Ethereum Strategy ETF	2.93%	2.41%	14.73%	6.64%
OWNB Bitwise Bitcoin Standard Corporations ETF	1.01%	0.87%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OWNB and AETH in my portfolio?

OWNB and AETH have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWNB or AETH?

OWNB has higher volatility (16.54%) compared to AETH (6.43%). In terms of maximum drawdown, OWNB dropped -59.47% vs AETH's -48.85%.

Which ETF is better, OWNB or AETH?

On 1-year performance, AETH leads with -14.41% vs -39.83% for OWNB. On fees, OWNB is cheaper at 0.85% per year. On volatility, AETH has been the lower-risk option at 6.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OWNB or AETH?

Over the 1-year period, AETH has performed better with a -14.41% return vs -39.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OWNB or AETH?

OWNB is cheaper with a 0.85% expense ratio, compared with 0.90% for AETH.

Which ETF pays a higher dividend yield, OWNB or AETH?

AETH has the higher dividend yield at 2.93%, compared with 1.01% for OWNB.

What is the main difference between OWNB and AETH?

OWNB is categorized as Blockchain, while AETH is Cryptocurrency. Their fees differ too: 0.85% for OWNB and 0.90% for AETH.

Which has better risk-adjusted returns?

AETH currently has the higher Sharpe Ratio (-0.33 vs -0.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.