Grayscale Ethereum Covered Call ETF (ETCO) Performance
ETCO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −30.3% since Dec 31, 2025
- 1 year
- −40.0% total return
- Since first price
- −47.5% since 2025
ETCO trailing returns vs SPY, QQQ, AGG
| Period | ETCO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −8.4% | −12.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +7.4% | −4.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −14.8% | −34.3% | +7.8% | +8.4% | −1.5% |
| YTD | −30.3% | −57.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −40.0% | −69.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionSep 4, 2025 | −47.5% | −76.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: ETCO vs SPY
From Sep 4, 2025: ETCO grew to $5,245, SPY to $11,867.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ETCO returns by calendar year
2026 is year to date.
ETCO annual returns table
| Year | ETCO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −30.3% | −45.4% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
ETCO largest drawdowns
Now 52.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Sep 17, 2025 | −59.4% | Jun 25, 2026 | not yet | 9 months | 1.1 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
ETCO risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −41.8% |
| Volatility (annualized) | 42.9% |
| Sharpe ratio | -1.11 |
| Sortino ratio | -1.22 |
| Best month | +11.4% |
| Worst month | −23.7% |
| Best 12 months | −41.8% |
| Worst 12 months | −41.8% |
| Positive months | 50% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
ETCO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 2 | −41.8% | −41.4% | −40.9% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
ETCO performance overview
Grayscale Ethereum Covered Call ETF (ETCO) returned −40.0% over the past year, with distributions reinvested. Since its first recorded price on Sep 4, 2025 it has returned −47.5%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −59.4%, from Sep 17, 2025 to Jun 25, 2026; the fund has not yet regained that high. Volatility has been 42.9% a year.
Related: ETCO chart, ETCO dividends. See the ETCO overview for the latest quote and fund facts.
ETCO performance FAQ
What is the ETCO return over the past year?
ETCO returned −40.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 69.9%.
How much would $10,000 invested in ETCO be worth?
$10,000 invested in ETCO at its first recorded close on September 4, 2025 would be worth about $5,245 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of ETCO?
The largest peak-to-trough decline was −59.4% between September 17, 2025 and June 25, 2026. It has not yet recovered to that high; it is 52.2% below its peak.
How volatile is ETCO?
Over the past history ETCO had an annualized volatility of 42.9% and a Sharpe ratio of -1.11 (excess return over 1–3 month T-bills per unit of risk).