E. baliostola is similar to several other gray-streaked species in Costa Rica but is distinguished externally by its large size. Ethmia lichyi is the only other gray species of comparable size, and can be distinguished by the number of spots on the dorsal thorax (8 in E. baliostola, and 6 in E. lichyi). The presence of a whitish double costal brush on the hindwing in E. baliostola distinguishes it from other similar species.