PIT vs ETHW

Comparison between VANECK COMMODITY STRATEGY ETF (PIT, ETF) and Bitwise Ethereum ETF (The) (ETHW, ETF).

PIT vs ETHW - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PIT(ETF)	ETHW(ETF)
Net Assets	$240M	$239M
Expense Ratio	0.55%	N/A
Max Drawdown	16.84%	67.57%
Sharpe Ratio	2.04	-0.45
5Y Beta	0.16	2.13

Net Assets

Winner

PIT

$240M

ETHW

$239M

Expense Ratio

PIT

0.55%

ETHW

N/A

Max Drawdown

Winner

PIT

16.84%

ETHW

67.57%

Sharpe Ratio

Winner

PIT

2.04

ETHW

-0.45

5Y Beta

Winner

PIT

0.16

ETHW

2.13

PIT vs ETHW - Historical Returns

Returns include dividend reinvestment.

Period	PIT	ETHW
1 month	-6.08%	-33.78%
3 months	+9.86%	-24.90%
6 months	+35.77%	-48.04%
1 year	+55.90%	-38.02%
Max(CAGR)	+17.21%	-34.59%

Winner

PIT

-6.08%

ETHW

-33.78%

Winner

PIT

+9.86%

ETHW

-24.90%

Winner

PIT

+35.77%

ETHW

-48.04%

Winner

PIT

+55.90%

ETHW

-38.02%

Max(CAGR)

Winner

PIT

+17.21%

ETHW

-34.59%

PIT vs ETHW - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	PIT	ETHW
2026	+36.05%	-49.64%
2025	+20.59%	-14.16%
2024	+7.30%	-3.54%
2023	-1.51%	N/A
2022	+2.74%	N/A

PIT vs ETHW Drawdown Comparison

The maximum drawdown for PIT was -12.27%, occurring on Dec 12, 2023. Recovery took 335 trading sessions.

The maximum drawdown for ETHW was -67.57%, occurring on Jun 5, 2026. This drawdown has not yet recovered.

The current PIT drawdown is -8.14%. The current ETHW drawdown is -67.57%.

Rank	PIT	ETHW
#1	-12.27% Sep 14, 2023 - Jan 15, 2025	-67.57% Aug 22, 2025 - Jun 5, 2026
#2	-11.66% Apr 2, 2025 - Jun 13, 2025	-64.04% Dec 6, 2024 - Aug 11, 2025
#3	-11.38% Dec 30, 2022 - Jul 24, 2023	-35.81% Jul 23, 2024 - Nov 25, 2024
#4	-9.27% Jan 29, 2026 - Mar 2, 2026	-12.71% Aug 13, 2025 - Aug 22, 2025
#5	-8.14% May 12, 2026 - Jun 5, 2026	-5.28% Nov 25, 2024 - Nov 27, 2024
#6	-6.08% Mar 18, 2026 - Mar 30, 2026	-1.79% Dec 4, 2024 - Dec 6, 2024
#7	-6.02% Apr 2, 2026 - Apr 28, 2026	-1.07% Nov 27, 2024 - Dec 4, 2024
#8	-4.66% Jul 29, 2025 - Sep 2, 2025	N/A
#9	-4.63% Feb 20, 2025 - Mar 31, 2025	N/A
#10	-4.35% Jun 18, 2025 - Jul 11, 2025	N/A
#11	-3.48% Nov 11, 2025 - Dec 5, 2025	N/A
#12	-3.01% May 4, 2026 - May 11, 2026	N/A
#13	-2.81% Oct 8, 2025 - Oct 23, 2025	N/A
#14	-2.72% Dec 5, 2025 - Dec 22, 2025	N/A
#15	-2.63% Aug 9, 2023 - Aug 31, 2023	N/A

Correlation

Correlation between PIT and ETHW is -0.41 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.41

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