ETH-USD vs. FETH

Last updated Apr 3, 2026

Compare and contrast key facts about Ethereum (ETH-USD) and Fidelity Ethereum Fund (FETH).

FETH is a passively managed fund by Fidelity that tracks the performance of the Fidelity Ethereum Reference Rate Index. It was launched on Jul 22, 2024.

Performance

ETH-USD vs. FETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ethereum (ETH-USD) and Fidelity Ethereum Fund (FETH). The values are adjusted to include any dividend payments, if applicable.

ETH-USD vs. FETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETH-USD Ethereum	-30.81%	-10.91%	-4.38%
FETH Fidelity Ethereum Fund	-30.50%	-11.37%	-3.61%

Returns By Period

The year-to-date returns for both investments are quite close, with ETH-USD having a -30.81% return and FETH slightly higher at -30.50%.

ETH-USD

• 1D: -4.09%
• 1M: 3.52%
• YTD: -30.81%
• 6M: -54.26%
• 1Y: 14.38%
• 3Y*: 4.27%
• 5Y*: 0.43%
• 10Y*: 68.46%

FETH

• 1D: -3.56%
• 1M: 4.36%
• YTD: -30.50%
• 6M: -54.19%
• 1Y: 7.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ETH-USD vs. FETH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETH-USD

ETH-USD Risk / Return Rank: 74
ETH-USD Sharpe Ratio Rank: 86
ETH-USD Sortino Ratio Rank: 85
ETH-USD Omega Ratio Rank: 84
ETH-USD Calmar Ratio Rank: 68
ETH-USD Martin Ratio Rank: 49

FETH

FETH Risk / Return Rank: 16
FETH Sharpe Ratio Rank: 14
FETH Sortino Ratio Rank: 23
FETH Omega Ratio Rank: 20
FETH Calmar Ratio Rank: 13
FETH Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETH-USD vs. FETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ethereum (ETH-USD) and Fidelity Ethereum Fund (FETH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ETH-USD	FETH	Difference
Sharpe ratio Return per unit of total volatility	0.19	0.10	+0.09
Sortino ratio Return per unit of downside risk	0.85	0.72	+0.13
Omega ratio Gain probability vs. loss probability	1.09	1.08	+0.01
Calmar ratio Return relative to maximum drawdown	-0.92	0.13	-1.05
Martin ratio Return relative to average drawdown	-1.58	0.25	-1.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETH-USD vs. FETH - Sharpe Ratio Comparison

The current ETH-USD Sharpe Ratio is 0.19, which is higher than the FETH Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of ETH-USD and FETH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ETH-USD	FETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	0.10	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	-0.36	+1.15

Correlation

The correlation between ETH-USD and FETH is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

ETH-USD vs. FETH - Drawdown Comparison

The maximum ETH-USD drawdown since its inception was -94.01%, which is greater than FETH's maximum drawdown of -64.00%. Use the drawdown chart below to compare losses from any high point for ETH-USD and FETH.

Drawdown Indicators

	ETH-USD	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-94.01%	-64.00%	-30.01%
Max Drawdown (1Y) Largest decline over 1 year	-62.26%	-61.74%	-0.52%
Max Drawdown (5Y) Largest decline over 5 years	-79.35%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-94.01%	—	—
Current Drawdown Current decline from peak	-57.51%	-57.48%	-0.03%
Average Drawdown Average peak-to-trough decline	-50.82%	-30.60%	-20.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.50%	30.89%	+5.61%

Volatility

ETH-USD vs. FETH - Volatility Comparison

Ethereum (ETH-USD) and Fidelity Ethereum Fund (FETH) have volatilities of 18.12% and 17.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETH-USD	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.12%	17.46%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	51.50%	53.48%	-1.98%
Volatility (1Y) Calculated over the trailing 1-year period	62.47%	75.77%	-13.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.54%	74.74%	-11.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.86%	74.74%	+4.12%