AETH vs SPY
Bitwise Trendwise Ether and Treasuries Rotation Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | AETH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.09% | |
| AUM | $4M | $821.1B | |
| Dividend Yield | 2.78% | 1.01% | |
| Holdings | 3 | 505 | |
| YTD Return | -0.04% | +12.22% | |
| 1Y Return | -30.48% | +20.83% | |
| 3Y Return (annualized) | +22.93% | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 63.8% | 15.3% | |
| Max Drawdown | -51.1% | -56.5% | |
| Fund Family | Bitwise | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Sep 29, 2023 | Jan 22, 1993 |
AETH vs SPY Performance
Bitwise Trendwise Ether and Treasuries Rotation Strategy ETF (AETH) is a ETF from Bitwise and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AETH returned -30.48% while SPY returned +20.83%. Year to date, AETH is down 0.04% versus a gain of 12.22% for SPY.
Over three years, AETH compounded at +22.93% per year against +21.70% for SPY. Across the full 3-year window we track, AETH has the edge at +22.93% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AETH has been the more volatile fund, with annualized monthly volatility of 63.8% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -51.1% for AETH and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AETH charges 0.89% per year while SPY charges 0.09%. On a $10,000 position that is $89 vs $9 annually, a gap of $80 per year that compounds over a long holding period. On income, AETH currently yields 2.78% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, AETH or SPY?
AETH has an expense ratio of 0.89% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $80 per year of difference.
Which performed better, AETH or SPY?
Over the past year AETH returned -30.48% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), AETH annualized +22.93% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, AETH or SPY?
AETH has been the more volatile fund at 63.8% annualized versus 15.3% for SPY. Worst drawdown: AETH -51.1% vs SPY -56.5%.
Should I hold both AETH and SPY?
AETH and SPY have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, AETH or SPY?
AETH yields 2.78% while SPY yields 1.01%, so AETH currently pays the higher dividend yield.
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