TETH vs. CEPI
TETH (21Shares Ethereum ETF) and CEPI (REX Crypto Equity Premium Income ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, TETH returned -32.60% vs 25.85% for CEPI. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
TETH vs. CEPI - 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 CEPI's 20.69% return.
TETH
- 1D
- 3.43%
- 1M
- -19.29%
- YTD
- -45.15%
- 6M
- -44.28%
- 1Y
- -32.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEPI
- 1D
- 0.79%
- 1M
- -1.55%
- YTD
- 20.69%
- 6M
- 19.17%
- 1Y
- 25.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TETH vs. CEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TETH 21Shares Ethereum ETF | -45.15% | -11.20% | -7.48% |
CEPI REX Crypto Equity Premium Income ETF | 20.69% | 10.75% | -7.02% |
Correlation
The correlation between TETH and CEPI is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024 | 0.67 |
The correlation between TETH and CEPI has been stable across timeframes, ranging from 0.66 to 0.67 - a consistent structural relationship.
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Return for Risk
TETH vs. CEPI — Risk / Return Rank
TETH
CEPI
TETH vs. CEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum ETF (TETH) and REX Crypto Equity Premium Income ETF (CEPI). 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 | CEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.18 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 1.16 | -1.64 |
| Martin ratioReturn relative to average drawdown | -0.79 | 2.74 | -3.53 |
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Drawdowns
TETH vs. CEPI - Drawdown Comparison
The maximum TETH drawdown since its inception was -67.74%, which is greater than CEPI's maximum drawdown of -29.48%. Use the drawdown chart below to compare losses from any high point for TETH and CEPI.
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Drawdown Indicators
| TETH | CEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.74% | -29.48% | -38.26% |
Max Drawdown (1Y)Largest decline over 1 year | -67.74% | -22.47% | -45.27% |
Current DrawdownCurrent decline from peak | -66.33% | -3.14% | -63.19% |
Average DrawdownAverage peak-to-trough decline | -34.03% | -8.36% | -25.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.19% | 9.46% | +31.73% |
Volatility
TETH vs. CEPI - Volatility Comparison
21Shares Ethereum ETF (TETH) has a higher volatility of 20.46% compared to REX Crypto Equity Premium Income ETF (CEPI) at 8.28%. This indicates that TETH's price experiences larger fluctuations and is considered to be riskier than CEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TETH | CEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.46% | 8.28% | +12.18% |
Volatility (6M)Calculated over the trailing 6-month period | 46.69% | 21.55% | +25.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.15% | 27.41% | +41.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.18% | 31.52% | +40.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.18% | 31.52% | +40.66% |
Dividends
TETH vs. CEPI - Dividend Comparison
TETH's dividend yield for the trailing twelve months is around 0.39%, less than CEPI's 42.20% yield.
| Position | TTM | 2025 |
|---|---|---|
CEPI REX Crypto Equity Premium Income ETF | 42.20% | 50.78% |
TETH 21Shares Ethereum ETF | 0.39% | 0.00% |
Frequently Asked Questions
TETH and CEPI have a correlation of 0.66, 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 CEPI (8.28%). In terms of maximum drawdown, TETH dropped -67.74% vs CEPI's -29.48%.
On 1-year performance, CEPI leads with 25.85% vs -32.60% for TETH. On volatility, CEPI has been the lower-risk option at 8.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CEPI has performed better with a 25.85% return vs -32.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CEPI has the higher dividend yield at 42.20%, compared with 0.39% for TETH.
They also come from different issuers: 21Shares and REX.
CEPI currently has the higher Sharpe Ratio (0.95 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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