SOLZ vs. ETH

Last updated Jul 30, 2026

SOLZ (Solana ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, SOLZ returned -62.81% vs -49.25% for ETH. Their correlation of 0.87 means they have usually moved in the same direction. SOLZ charges 0.95%/yr vs 0.15%/yr for ETH.

Performance

SOLZ vs. ETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Solana ETF (SOLZ) and Grayscale Ethereum Staking Mini ETF (ETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOLZ achieves a -42.41% return, which is significantly lower than ETH's -35.89% return.

SOLZ

• 1D: -2.29%
• 1M: -4.56%
• 6M: -42.81%
• YTD: -42.41%
• 1Y: -62.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -40.67%

ETH

• 1D: -1.64%
• 1M: 16.52%
• 6M: -36.77%
• YTD: -35.89%
• 1Y: -49.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ETH Grayscale Ethereum Staking Mini ETF	$30.83M	$33.98M	$47.29M
SOLZ Solana ETF	$5.01M	$5.69M	$8.57M

SOLZ vs. ETH - Yearly Performance Comparison

	2026 (YTD)	2025
SOLZ Solana ETF	-42.41%	-14.53%
ETH Grayscale Ethereum Staking Mini ETF	-35.89%	46.53%

Correlation

The correlation between SOLZ and ETH is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (All Time) Calculated using the full available price history since Mar 20, 2025	0.87

The correlation between SOLZ and ETH has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

Return for Risk

SOLZ vs. ETH — Risk / Return Rank

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

SOLZ

SOLZ Risk / Return Rank: 3
SOLZ Sharpe Ratio Rank: 2
SOLZ Sortino Ratio Rank: 2
SOLZ Omega Ratio Rank: 2
SOLZ Calmar Ratio Rank: 2
SOLZ Martin Ratio Rank: 4

ETH

ETH Risk / Return Rank: 4
ETH Sharpe Ratio Rank: 3
ETH Sortino Ratio Rank: 4
ETH Omega Ratio Rank: 4
ETH Calmar Ratio Rank: 3
ETH Martin Ratio Rank: 4

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.

SOLZ vs. ETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Solana ETF (SOLZ) 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.

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.

	SOLZ	ETH	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	-0.74	-0.13
Sortino ratio: Return per unit of downside risk	-1.37	-0.95	-0.42
Omega ratio: Gain probability vs. loss probability	0.85	0.89	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.83	-0.73	-0.10
Martin ratio: Return relative to average drawdown	-1.17	-1.10	-0.07

SOLZ vs. ETH - Sharpe Ratio Comparison

The current SOLZ Sharpe Ratio is -0.86, which is comparable to the ETH Sharpe Ratio of -0.74. The chart below compares the historical Sharpe Ratios of SOLZ and ETH, 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

SOLZ vs. ETH - Drawdown Comparison

The maximum SOLZ drawdown since its inception was -75.68%, which is greater than ETH's maximum drawdown of -67.52%. Use the drawdown chart below to compare losses from any high point for SOLZ and ETH.

Drawdown Indicators

	SOLZ	ETH	Difference
Max Drawdown Largest peak-to-trough decline	-75.68%	-67.52%	-8.16%
Max Drawdown (1Y) Largest decline over 1 year	-75.68%	-67.52%	-8.16%
Current Drawdown Current decline from peak	-72.17%	-60.51%	-11.66%
Average Drawdown Average peak-to-trough decline	-38.22%	-34.94%	-3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.65%	44.75%	+8.90%

Volatility

SOLZ vs. ETH - Volatility Comparison

Solana ETF (SOLZ) and Grayscale Ethereum Staking Mini ETF (ETH) have volatilities of 12.42% and 13.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOLZ	ETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.42%	13.07%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	50.91%	46.24%	+4.67%
Volatility (1Y) Calculated over the trailing 1-year period	73.12%	67.09%	+6.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.21%	71.32%	+3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.21%	71.32%	+3.89%

SOLZ vs. ETH - Expense Ratio Comparison

SOLZ has a 0.95% expense ratio, which is higher than ETH's 0.15% expense ratio.

Dividends

SOLZ vs. ETH - Dividend Comparison

SOLZ's dividend yield for the trailing twelve months is around 3.74%, while ETH has not paid dividends to shareholders.

Position	TTM	2025
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%
SOLZ Solana ETF	3.74%	1.75%

Frequently Asked Questions

Can I hold both SOLZ and ETH in my portfolio?

SOLZ and ETH have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOLZ or ETH?

ETH has higher volatility (13.07%) compared to SOLZ (12.42%). In terms of maximum drawdown, SOLZ dropped -75.68% vs ETH's -67.52%.

Which ETF is better, SOLZ or ETH?

On 1-year performance, ETH leads with -49.25% vs -62.81% for SOLZ. On fees, ETH is cheaper at 0.15% per year. On volatility, SOLZ has been the lower-risk option at 12.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOLZ or ETH?

Over the 1-year period, ETH has performed better with a -49.25% return vs -62.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOLZ or ETH?

ETH is cheaper with a 0.15% expense ratio, compared with 0.95% for SOLZ.

Which ETF pays a higher dividend yield, SOLZ or ETH?

SOLZ has the higher dividend yield at 3.74%, compared with 0.00% for ETH.

What is the main difference between SOLZ and ETH?

They also come from different issuers: Volatility Shares and Grayscale. Their fees differ too: 0.95% for SOLZ and 0.15% for ETH.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.74 vs -0.86), 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.