Grayscale Ethereum Mini Trust (ETH) (ETH) Performance
ETH total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −18.4% since Dec 31, 2025
- 1 year
- −37.0% total return
- Since first price
- −30.0% since 2024
ETH trailing returns vs SPY, QQQ, AGG
| Period | ETH total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −10.6% | −10.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +28.2% | +27.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.3% | +4.0% | +7.8% | +8.4% | −1.5% |
| YTD | −18.4% | −18.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −37.0% | −37.2% | +14.4% | +15.9% | −1.1% |
| Since inceptionJul 23, 2024 | −30.0% | −30.2% | — | — | — |
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: ETH vs SPY
From Jul 23, 2024: ETH grew to $7,004, SPY to $14,083.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ETH returns by calendar year
0 of 1 full years positive. Best 2025 (−10.9%), worst 2025 (−10.9%). 2026 is year to date.
ETH annual returns table
| Year | ETH | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −18.4% | −53.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −10.9% | −60.4% | +17.7% | +20.8% | +7.2% |
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.
ETH largest drawdowns
Now 49.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 22, 2025 | −67.5% | Jun 25, 2026 | not yet | 10 months | 1.2 years so far |
| Dec 6, 2024 | −64.0% | Apr 8, 2025 | Aug 8, 2025 | 4 months | 8 months |
| Jul 23, 2024 | −36.1% | Sep 6, 2024 | Nov 25, 2024 | 45 days | 4 months |
| Aug 13, 2025 | −12.8% | Aug 19, 2025 | Aug 22, 2025 | 6 days | 9 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
ETH risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −8.3% |
| Volatility (annualized) | 76.0% |
| Sharpe ratio | 0.17 |
| Sortino ratio | 0.30 |
| Best month | +48.3% |
| Worst month | −33.1% |
| Best 12 months | +73.2% |
| Worst 12 months | −49.4% |
| Positive months | 38% |
| 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.
ETH rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 16 | −49.4% | −14.2% | +73.2% | 38% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
ETH performance overview
Grayscale Ethereum Mini Trust (ETH) (ETH) returned −37.0% over the past year, with distributions reinvested. Since its first recorded price on Jul 23, 2024 it has returned −30.0%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −67.5%, from Aug 22, 2025 to Jun 25, 2026; the fund has not yet regained that high. Volatility has been 76.0% a year.
Related: ETH chart, ETH dividends. See the ETH overview for the latest quote and fund facts.
ETH performance FAQ
What is the ETH return over the past year?
ETH returned −37.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 37.2%.
How much would $10,000 invested in ETH be worth?
$10,000 invested in ETH at its first recorded close on July 23, 2024 would be worth about $7,004 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of ETH?
The largest peak-to-trough decline was −67.5% between August 22, 2025 and June 25, 2026. It has not yet recovered to that high; it is 49.7% below its peak.
How volatile is ETH?
Over the past history ETH had an annualized volatility of 76.0% and a Sharpe ratio of 0.17 (excess return over 1–3 month T-bills per unit of risk).