ETHA Grows Larger Than HODL With Higher Recent Returns

Seena Hassouna, The Motley Fool

Sun, April 26, 2026 astatine 11:40 AM CDT 4 min read

VanEck Bitcoin ETF (NYSEMKT:HODL) and iShares Ethereum Trust ETF (NASDAQ:ETHA) look akin arsenic single-crypto ETFs, but disagree sharply successful caller performance, maximum drawdowns, disbursal ratio, and standard of assets nether management.

Both HODL and ETHA connection straightforward vulnerability to a azygous cryptocurrency, aiming to reflector the terms of bitcoin and ether, respectively. This examination highlights the applicable trade-offs betwixt the two, focusing connected cost, caller returns, risk, liquidity, and portfolio creation for investors evaluating nonstop crypto ETF exposure.

Beta measures terms volatility comparative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr instrumentality represents full instrumentality implicit the trailing 12 months.

ETHA charges a somewhat higher yearly disbursal than HODL, making HODL marginally much affordable for semipermanent holders. Yield accusation is not disposable for either ETF, truthful outgo differences whitethorn beryllium particularly applicable for investors focused connected efficiency.

ETHA is simply a pure-play ether vehicle, holding lone ether and tracking its terms directly. The money has conscionable 1 holding, with a 1.8-year way grounds and implicit $7.4 cardinal successful assets nether management. There is nary assemblage diversification oregon banal exposure, and nary reported quirks oregon peculiar structural considerations.

HODL is arsenic straightforward, offering 100% vulnerability to bitcoin and nary assemblage breakdown oregon underlying banal holdings. It is smaller successful standard with $1.3 cardinal successful assets nether management. Both ETFs are single-asset trackers with nary embedded leverage, hedging, oregon thematic overlays.

The temptation with 2 single-asset crypto ETFs is to dainty them arsenic astir interchangeable wrappers — prime the cheaper 1 and determination on. The past twelvemonth of information argues otherwise. Over the trailing 12 months, ETHA returned 28.16% portion HODL mislaid 18.6%. That's a 47-percentage-point spread betwixt 2 products that stock a structure, a regulatory category, and a "single crypto successful a money wrapper" pitch. They are not the aforesaid trade. The drawdown numbers implicit the picture. ETHA's max 1-year drawdown was 64.02%, astir 15 points worse than HODL's 49.25%. Ether holders got paid for the trip, but the travel was rougher, and there's nary warrant the adjacent 12 months reward the aforesaid plus oregon punish the aforesaid volatility. The 5-basis-point disbursal ratio spread and the AUM quality are footnotes adjacent to the existent prime you're making, which is betwixt 2 assets with antithetic theses. Bitcoin is the digital-gold, fixed-supply story. Ether is the inferior furniture underneath astute contracts and stablecoins. Those theses tin wage disconnected connected wholly antithetic timelines, arsenic the past twelvemonth demonstrated successful existent time. Pick the underlying plus based connected which thesis you judge in, past judge the volatility illustration that comes with it. The wrapper is the casual part.