TETH vs. WGMI

Last updated Jul 21, 2026

TETH (21Shares Ethereum ETF) and WGMI (CoinShares Bitcoin Miners ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, TETH returned -46.49% vs 97.01% for WGMI. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

TETH vs. WGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Ethereum ETF (TETH) and CoinShares Bitcoin Miners ETF (WGMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TETH achieves a -35.88% return, which is significantly lower than WGMI's 37.71% return.

TETH

• 1D: 3.04%
• 1M: 11.40%
• 6M: -42.16%
• YTD: -35.88%
• 1Y: -46.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.89%

WGMI

• 1D: 10.78%
• 1M: -26.91%
• 6M: 3.21%
• YTD: 37.71%
• 1Y: 97.01%
• 3Y*: 48.22%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.18%

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

TETH vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TETH 21Shares Ethereum ETF	-35.88%	-11.20%	-5.86%
WGMI CoinShares Bitcoin Miners ETF	37.71%	72.47%	-12.66%

Correlation

The correlation between TETH and WGMI is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.57

The correlation between TETH and WGMI has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

Return for Risk

TETH vs. WGMI — Risk / Return Rank

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

TETH

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

WGMI

WGMI Risk / Return Rank: 45
WGMI Sharpe Ratio Rank: 47
WGMI Sortino Ratio Rank: 50
WGMI Omega Ratio Rank: 44
WGMI Calmar Ratio Rank: 50
WGMI Martin Ratio Rank: 34

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.

TETH vs. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum ETF (TETH) and CoinShares Bitcoin Miners ETF (WGMI). 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	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	1.24	-1.93
Sortino ratio: Return per unit of downside risk	-0.83	1.90	-2.73
Omega ratio: Gain probability vs. loss probability	0.91	1.22	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.69	1.91	-2.60
Martin ratio: Return relative to average drawdown	-1.06	3.77	-4.83

TETH vs. WGMI - Sharpe Ratio Comparison

The current TETH Sharpe Ratio is -0.69, which is lower than the WGMI Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of TETH and WGMI, 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

TETH vs. WGMI - Drawdown Comparison

The maximum TETH drawdown since its inception was -67.74%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for TETH and WGMI.

Drawdown Indicators

	TETH	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-67.74%	-85.76%	+18.02%
Max Drawdown (1Y) Largest decline over 1 year	-67.74%	-50.94%	-16.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-62.79%	—
Current Drawdown Current decline from peak	-60.64%	-26.91%	-33.73%
Average Drawdown Average peak-to-trough decline	-34.85%	-42.09%	+7.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.79%	25.85%	+17.94%

Volatility

TETH vs. WGMI - Volatility Comparison

The current volatility for 21Shares Ethereum ETF (TETH) is 14.30%, while CoinShares Bitcoin Miners ETF (WGMI) has a volatility of 24.38%. This indicates that TETH experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TETH	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.30%	24.38%	-10.08%
Volatility (6M) Calculated over the trailing 6-month period	47.10%	57.47%	-10.37%
Volatility (1Y) Calculated over the trailing 1-year period	67.54%	78.75%	-11.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.67%	81.64%	-9.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.67%	81.64%	-9.97%

Dividends

TETH vs. WGMI - Dividend Comparison

TETH's dividend yield for the trailing twelve months is around 0.34%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
TETH 21Shares Ethereum ETF	0.34%	0.00%	0.00%	0.00%
WGMI CoinShares Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both TETH and WGMI in my portfolio?

TETH and WGMI have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TETH or WGMI?

WGMI has higher volatility (24.38%) compared to TETH (14.30%). In terms of maximum drawdown, TETH dropped -67.74% vs WGMI's -85.76%.

Which ETF is better, TETH or WGMI?

On 1-year performance, WGMI leads with 97.01% vs -46.49% for TETH. On volatility, TETH has been the lower-risk option at 14.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TETH or WGMI?

Over the 1-year period, WGMI has performed better with a 97.01% return vs -46.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF pays a higher dividend yield, TETH or WGMI?

TETH has the higher dividend yield at 0.34%, compared with 0.00% for WGMI.

What is the main difference between TETH and WGMI?

They also come from different issuers: 21Shares and CoinShares.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (1.24 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.