ETHW vs SPE
Comparison between Bitwise Ethereum ETF (The) (ETHW, ETF) and Special Opportunities Fund Inc (SPE, ETF).
ETHW vs SPE - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
ETHW
$168M
SPE
$168M
Max Drawdown
ETHW
67.89%
Winner
SPE
58.53%
Sharpe Ratio
ETHW
-0.63
Winner
SPE
-0.12
5Y Beta
ETHW
2.13
Winner
SPE
0.55
5Y Dividends CAGR
ETHW
N/A
SPE
14.96%
ETHW vs SPE - Historical Returns
Returns include dividend reinvestment.
1M
Winner
ETHW
+10.97%
SPE
+1.86%
3M
ETHW
-16.40%
Winner
SPE
-1.17%
6M
ETHW
-36.53%
Winner
SPE
-3.98%
1Y
ETHW
-48.70%
Winner
SPE
+1.08%
5Y(CAGR)
ETHW
N/A
SPE
+8.95%
10Y(CAGR)
ETHW
N/A
SPE
+11.08%
Max(CAGR)
ETHW
-25.66%
Winner
SPE
+8.96%
ETHW vs SPE - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | ETHW | SPE |
|---|---|---|
| 2026 | -38.41% | -2.16% |
| 2025 | -14.16% | +14.15% |
| 2024 | -3.54% | +34.11% |
| 2023 | N/A | +14.54% |
| 2022 | N/A | -18.85% |
| 2021 | N/A | +25.58% |
| 2020 | N/A | +4.29% |
| 2019 | N/A | +30.90% |
| 2018 | N/A | -9.91% |
| 2017 | N/A | +25.21% |
| 2016 | N/A | +10.69% |
| 2015 | N/A | -7.46% |
| 2014 | N/A | -1.88% |
| 2013 | N/A | +29.76% |
| 2012 | N/A | +11.73% |
| 2011 | N/A | +1.00% |
| 2010 | N/A | +5.05% |
| 2009 | N/A | +45.90% |
| 2008 | N/A | -15.82% |
| 2007 | N/A | +0.88% |
| 2006 | N/A | +9.61% |
| 2005 | N/A | +2.39% |
| 2004 | N/A | +1.11% |
| 2003 | N/A | +11.38% |
| 2002 | N/A | +11.83% |
| 2001 | N/A | +8.81% |
| 2000 | N/A | +18.23% |
| 1999 | N/A | -4.22% |
ETHW vs SPE Drawdown Comparison
The maximum drawdown for ETHW was -67.89%, occurring on Jun 25, 2026. This drawdown has not yet recovered.
The maximum drawdown for SPE was -46.84%, occurring on Mar 23, 2020. Recovery took 207 trading sessions.
The current ETHW drawdown is -60.33%. The current SPE drawdown is -5.06%.
| Rank | ETHW | SPE |
|---|---|---|
| #1 | -67.89% Aug 22, 2025 - Jun 25, 2026 | -46.84% Feb 19, 2020 - Dec 11, 2020 |
| #2 | -64.04% Dec 6, 2024 - Aug 11, 2025 | -32.95% Jun 5, 2008 - Apr 27, 2009 |
| #3 | -35.81% Jul 23, 2024 - Nov 25, 2024 | -24.14% Jan 7, 2022 - Mar 26, 2024 |
| #4 | -12.71% Aug 13, 2025 - Aug 22, 2025 | -18.46% Dec 31, 2013 - Aug 23, 2016 |
| #5 | -5.28% Nov 25, 2024 - Nov 27, 2024 | -17.47% Jan 26, 2018 - Jun 14, 2019 |
| #6 | -1.79% Dec 4, 2024 - Dec 6, 2024 | -13.69% Feb 20, 2025 - May 20, 2025 |
| #7 | -1.07% Nov 27, 2024 - Dec 4, 2024 | -13.13% Mar 15, 2004 - Aug 31, 2005 |
| #8 | N/A | -12.14% Jul 22, 2011 - Jan 25, 2012 |
| #9 | N/A | -12.05% Oct 6, 2009 - Oct 18, 2010 |
| #10 | N/A | -9.71% Jun 17, 2003 - Jan 20, 2004 |
| #11 | N/A | -9.32% Jan 15, 2026 - Mar 30, 2026 |
| #12 | N/A | -9.21% May 16, 2007 - Jan 25, 2008 |
| #13 | N/A | -8.92% Nov 19, 1999 - Jun 2, 2000 |
| #14 | N/A | -8.82% Sep 1, 2016 - Jan 18, 2017 |
| #15 | N/A | -8.09% Mar 26, 2012 - Sep 28, 2012 |
Correlation
Correlation between ETHW and SPE is -0.01 which considered as a very weak or no correlation - the stocks move independently of each other.
-0.01
-101
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