TETH vs. BTC
TETH (21Shares Ethereum ETF) and BTC (Grayscale Bitcoin Mini Trust ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, TETH returned -32.60% vs -43.60% for BTC. Their correlation of 0.82 suggests significant overlap in exposure.
Performance
TETH vs. BTC - Performance Comparison
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Returns By Period
In the year-to-date period, TETH achieves a -45.15% return, which is significantly lower than BTC's -31.09% return.
TETH
- 1D
- 3.43%
- 1M
- -19.29%
- YTD
- -45.15%
- 6M
- -44.28%
- 1Y
- -32.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC
- 1D
- 1.14%
- 1M
- -17.83%
- YTD
- -31.09%
- 6M
- -30.77%
- 1Y
- -43.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TETH vs. BTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TETH 21Shares Ethereum ETF | -45.15% | -11.20% | 2.14% |
BTC Grayscale Bitcoin Mini Trust ETF | -31.09% | -7.50% | 41.93% |
Correlation
The correlation between TETH and BTC is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024 | 0.82 |
The correlation between TETH and BTC has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
TETH vs. BTC — Risk / Return Rank
TETH
BTC
TETH vs. BTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum ETF (TETH) 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.
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.
| TETH | BTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.84 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.83 | +0.34 |
| Martin ratioReturn relative to average drawdown | -0.79 | -1.40 | +0.60 |
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Drawdowns
TETH vs. BTC - Drawdown Comparison
The maximum TETH drawdown since its inception was -67.74%, which is greater than BTC's maximum drawdown of -52.89%. Use the drawdown chart below to compare losses from any high point for TETH and BTC.
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Drawdown Indicators
| TETH | BTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.74% | -52.89% | -14.85% |
Max Drawdown (1Y)Largest decline over 1 year | -67.74% | -52.89% | -14.85% |
Current DrawdownCurrent decline from peak | -66.33% | -51.97% | -14.36% |
Average DrawdownAverage peak-to-trough decline | -34.03% | -17.95% | -16.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.19% | 31.23% | +9.96% |
Volatility
TETH vs. BTC - Volatility Comparison
21Shares Ethereum ETF (TETH) has a higher volatility of 20.46% compared to Grayscale Bitcoin Mini Trust ETF (BTC) at 13.42%. This indicates that TETH's price experiences larger fluctuations and is considered to be riskier than BTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TETH | BTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.46% | 13.42% | +7.04% |
Volatility (6M)Calculated over the trailing 6-month period | 46.69% | 34.57% | +12.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.15% | 44.38% | +24.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.18% | 48.16% | +24.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.18% | 48.16% | +24.02% |
Dividends
TETH vs. BTC - Dividend Comparison
TETH's dividend yield for the trailing twelve months is around 0.39%, while BTC has not paid dividends to shareholders.
| Position | TTM |
|---|---|
BTC Grayscale Bitcoin Mini Trust ETF | 0.00% |
TETH 21Shares Ethereum ETF | 0.39% |
Frequently Asked Questions
TETH and BTC 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.
TETH has higher volatility (20.46%) compared to BTC (13.42%). In terms of maximum drawdown, TETH dropped -67.74% vs BTC's -52.89%.
On 1-year performance, TETH leads with -32.60% vs -43.60% for BTC. On volatility, BTC has been the lower-risk option at 13.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TETH has performed better with a -32.60% return vs -43.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TETH has the higher dividend yield at 0.39%, compared with 0.00% for BTC.
They also come from different issuers: 21Shares and Grayscale.
TETH currently has the higher Sharpe Ratio (-0.47 vs -0.99), 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.
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