YETH vs. ETHE

Last updated Jul 14, 2026

YETH (Roundhill Ether Covered Call Strategy ETF) and ETHE (Grayscale Ethereum Trust ETF) are both exchange-traded funds - YETH is a Derivative Income fund actively managed by Roundhill, while ETHE is a Cryptocurrency fund tracking the CoinDesk Ether Price Index. YETH is actively managed, while ETHE is passively managed. Over the past year, YETH returned -36.56% vs -41.93% for ETHE. Their correlation of 0.92 suggests significant overlap in exposure. YETH charges 0.95%/yr vs 2.50%/yr for ETHE.

Performance

YETH vs. ETHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Ether Covered Call Strategy ETF (YETH) and Grayscale Ethereum Trust ETF (ETHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YETH achieves a -33.53% return, which is significantly higher than ETHE's -40.62% return.

YETH

• 1D: -0.82%
• 1M: 6.38%
• 6M: -36.53%
• YTD: -33.53%
• 1Y: -36.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHE

• 1D: -1.11%
• 1M: 6.40%
• 6M: -43.12%
• YTD: -40.62%
• 1Y: -41.93%
• 3Y*: 8.63%
• 5Y*: -4.71%
• 10Y*: —

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

YETH vs. ETHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YETH Roundhill Ether Covered Call Strategy ETF	-33.53%	-32.10%	26.02%
ETHE Grayscale Ethereum Trust ETF	-40.62%	-13.03%	35.76%

Correlation

The correlation between YETH and ETHE is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	0.92

The correlation between YETH and ETHE has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

YETH vs. ETHE — Risk / Return Rank

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

YETH

YETH Risk / Return Rank: 4
YETH Sharpe Ratio Rank: 4
YETH Sortino Ratio Rank: 5
YETH Omega Ratio Rank: 4
YETH Calmar Ratio Rank: 4
YETH Martin Ratio Rank: 4

ETHE

ETHE Risk / Return Rank: 4
ETHE Sharpe Ratio Rank: 4
ETHE Sortino Ratio Rank: 5
ETHE Omega Ratio Rank: 5
ETHE Calmar Ratio Rank: 4
ETHE Martin Ratio Rank: 5

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.

YETH vs. ETHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Ether Covered Call Strategy ETF (YETH) and Grayscale Ethereum Trust ETF (ETHE). 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.

	YETH	ETHE	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	-0.62	-0.02
Sortino ratio: Return per unit of downside risk	-0.67	-0.65	-0.01
Omega ratio: Gain probability vs. loss probability	0.92	0.93	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.62	-0.62	-0.01
Martin ratio: Return relative to average drawdown	-1.03	-0.97	-0.06

YETH vs. ETHE - Sharpe Ratio Comparison

The current YETH Sharpe Ratio is -0.64, which is comparable to the ETHE Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of YETH and ETHE, 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

YETH vs. ETHE - Drawdown Comparison

The maximum YETH drawdown since its inception was -64.41%, smaller than the maximum ETHE drawdown of -96.26%. Use the drawdown chart below to compare losses from any high point for YETH and ETHE.

Drawdown Indicators

	YETH	ETHE	Difference
Max Drawdown Largest peak-to-trough decline	-64.41%	-96.26%	+31.85%
Max Drawdown (1Y) Largest decline over 1 year	-58.73%	-68.17%	+9.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-68.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-89.85%	—
Current Drawdown Current decline from peak	-59.39%	-77.54%	+18.15%
Average Drawdown Average peak-to-trough decline	-32.56%	-72.28%	+39.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.61%	43.30%	-7.69%

Volatility

YETH vs. ETHE - Volatility Comparison

The current volatility for Roundhill Ether Covered Call Strategy ETF (YETH) is 10.81%, while Grayscale Ethereum Trust ETF (ETHE) has a volatility of 16.05%. This indicates that YETH experiences smaller price fluctuations and is considered to be less risky than ETHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YETH	ETHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.81%	16.05%	-5.24%
Volatility (6M) Calculated over the trailing 6-month period	39.97%	46.93%	-6.96%
Volatility (1Y) Calculated over the trailing 1-year period	57.85%	68.14%	-10.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.33%	81.69%	-26.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.33%	190.54%	-135.21%

YETH vs. ETHE - Expense Ratio Comparison

YETH has a 0.95% expense ratio, which is lower than ETHE's 2.50% expense ratio.

Dividends

YETH vs. ETHE - Dividend Comparison

YETH's dividend yield for the trailing twelve months is around 135.04%, more than ETHE's 1.53% yield.

Position	TTM	2025	2024
ETHE Grayscale Ethereum Trust ETF	1.53%	0.00%	0.00%
YETH Roundhill Ether Covered Call Strategy ETF	135.04%	109.12%	20.52%

Frequently Asked Questions

Can I hold both YETH and ETHE in my portfolio?

With a correlation of 0.93, YETH and ETHE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, YETH or ETHE?

ETHE has higher volatility (16.05%) compared to YETH (10.81%). In terms of maximum drawdown, YETH dropped -64.41% vs ETHE's -96.26%.

Which ETF is better, YETH or ETHE?

On 1-year performance, YETH leads with -36.56% vs -41.93% for ETHE. On fees, YETH is cheaper at 0.95% per year. On volatility, YETH has been the lower-risk option at 10.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YETH or ETHE?

Over the 1-year period, YETH has performed better with a -36.56% return vs -41.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YETH or ETHE?

YETH is cheaper with a 0.95% expense ratio, compared with 2.50% for ETHE.

Which ETF pays a higher dividend yield, YETH or ETHE?

YETH has the higher dividend yield at 135.04%, compared with 1.53% for ETHE.

What is the main difference between YETH and ETHE?

YETH is categorized as Derivative Income, while ETHE is Cryptocurrency. They also come from different issuers: Roundhill and Grayscale. Their fees differ too: 0.95% for YETH and 2.50% for ETHE.

Which has better risk-adjusted returns?

ETHE currently has the higher Sharpe Ratio (-0.62 vs -0.64), 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.