TETH vs. BTCZ
TETH (21Shares Ethereum ETF) and BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, TETH returned -32.60% vs 80.80% for BTCZ. At a correlation of -0.82, they often move in opposite directions.
Performance
TETH vs. BTCZ - 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 BTCZ's 49.64% return.
TETH
- 1D
- 3.43%
- 1M
- -19.29%
- YTD
- -45.15%
- 6M
- -44.28%
- 1Y
- -32.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCZ
- 1D
- -2.78%
- 1M
- 40.00%
- YTD
- 49.64%
- 6M
- 48.24%
- 1Y
- 80.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TETH vs. BTCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TETH 21Shares Ethereum ETF | -45.15% | -11.20% | -5.86% |
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF | 49.64% | -29.11% | -65.48% |
Correlation
The correlation between TETH and BTCZ is -0.88, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | -0.82 |
The correlation between TETH and BTCZ has been stable across timeframes, ranging from -0.88 to -0.82 - a consistent structural relationship.
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Return for Risk
TETH vs. BTCZ — Risk / Return Rank
TETH
BTCZ
TETH vs. BTCZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum ETF (TETH) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). 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 | BTCZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.20 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 1.66 | -2.14 |
| Martin ratioReturn relative to average drawdown | -0.79 | 3.40 | -4.19 |
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Drawdowns
TETH vs. BTCZ - Drawdown Comparison
The maximum TETH drawdown since its inception was -67.74%, smaller than the maximum BTCZ drawdown of -91.06%. Use the drawdown chart below to compare losses from any high point for TETH and BTCZ.
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Drawdown Indicators
| TETH | BTCZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.74% | -91.06% | +23.32% |
Max Drawdown (1Y)Largest decline over 1 year | -67.74% | -49.02% | -18.72% |
Current DrawdownCurrent decline from peak | -66.33% | -75.87% | +9.54% |
Average DrawdownAverage peak-to-trough decline | -34.03% | -73.69% | +39.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.19% | 23.83% | +17.36% |
Volatility
TETH vs. BTCZ - Volatility Comparison
The current volatility for 21Shares Ethereum ETF (TETH) is 20.46%, while T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a volatility of 27.43%. This indicates that TETH experiences smaller price fluctuations and is considered to be less risky than BTCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TETH | BTCZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.46% | 27.43% | -6.97% |
Volatility (6M)Calculated over the trailing 6-month period | 46.69% | 68.88% | -22.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.15% | 89.07% | -19.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.18% | 96.91% | -24.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.18% | 96.91% | -24.73% |
Dividends
TETH vs. BTCZ - Dividend Comparison
TETH's dividend yield for the trailing twelve months is around 0.39%, more than BTCZ's 0.01% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF | 0.01% | 0.02% | 0.08% |
TETH 21Shares Ethereum ETF | 0.39% | 0.00% | 0.00% |
Frequently Asked Questions
TETH and BTCZ have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTCZ has higher volatility (27.43%) compared to TETH (20.46%). In terms of maximum drawdown, TETH dropped -67.74% vs BTCZ's -91.06%.
On 1-year performance, BTCZ leads with 80.80% vs -32.60% for TETH. On volatility, TETH has been the lower-risk option at 20.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BTCZ has performed better with a 80.80% return vs -32.60%. 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 0.01% for BTCZ.
They also come from different issuers: 21Shares and T-Rex.
BTCZ currently has the higher Sharpe Ratio (0.91 vs -0.47), 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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