ETHE.SW vs. FFUT

Last updated Aug 1, 2026

ETHE.SW (CoinShares Physical Ethereum (ETH)) and FFUT (Fidelity Managed Futures ETF) are both exchange-traded funds - ETHE.SW is a Cryptocurrency fund actively managed by CoinShares, while FFUT is a Systematic Trend fund actively managed by Fidelity. Both are actively managed. Over the past year, ETHE.SW returned -48.91% vs 24.29% for FFUT. Their 0.04 correlation means their historical movements had little consistent relationship. ETHE.SW charges 0.00%/yr vs 0.80%/yr for FFUT.

Performance

ETHE.SW vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a CHF 10,000 investment in CoinShares Physical Ethereum (ETH) (ETHE.SW) and Fidelity Managed Futures ETF (FFUT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ETHE.SW is traded in CHF, while FFUT is traded in USD. To make them comparable, the FFUT values have been converted to CHF using the latest available exchange rates.

Returns By Period

In the year-to-date period, ETHE.SW achieves a -34.33% return, which is significantly lower than FFUT's 15.53% return.

ETHE.SW

• 1D: 0.00%
• 1M: 13.30%
• 6M: -25.35%
• YTD: -34.33%
• 1Y: -48.91%
• 3Y*: -0.44%
• 5Y*: -5.96%
• 10Y*: —
• ALL TIME*: 1.77%

FFUT

• 1D: 0.00%
• 1M: 5.90%
• 6M: 14.41%
• YTD: 15.53%
• 1Y: 24.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ETHE.SW CoinShares Physical Ethereum (ETH)	CHF 21.90K	CHF 27.72K	CHF 136.63K
FFUT Fidelity Managed Futures ETF	CHF 6.32M	CHF 3.25M	CHF 1.62M

ETHE.SW vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
ETHE.SW CoinShares Physical Ethereum (ETH)	-34.33%	10.68%
FFUT Fidelity Managed Futures ETF	15.53%	5.10%

Correlation

The correlation between ETHE.SW and FFUT is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.04
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.04

Return for Risk

ETHE.SW vs. FFUT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ETHE.SW

ETHE.SW Risk / Return Rank: 3
ETHE.SW Sharpe Ratio Rank: 3
ETHE.SW Sortino Ratio Rank: 3
ETHE.SW Omega Ratio Rank: 3
ETHE.SW Calmar Ratio Rank: 3
ETHE.SW Martin Ratio Rank: 4

FFUT

FFUT Risk / Return Rank: 88
FFUT Sharpe Ratio Rank: 86
FFUT Sortino Ratio Rank: 86
FFUT Omega Ratio Rank: 87
FFUT Calmar Ratio Rank: 92
FFUT Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ETHE.SW vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Ethereum (ETH) (ETHE.SW) and Fidelity Managed Futures ETF (FFUT). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ETHE.SW	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	1.51	-2.32
Sortino ratio: Return per unit of downside risk	-1.11	2.15	-3.26
Omega ratio: Gain probability vs. loss probability	0.87	1.28	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.75	3.95	-4.70
Martin ratio: Return relative to average drawdown	-1.11	10.70	-11.81

ETHE.SW vs. FFUT - Sharpe Ratio Comparison

The current ETHE.SW Sharpe Ratio is -0.81, which is lower than the FFUT Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of ETHE.SW and FFUT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETHE.SW vs. FFUT - Drawdown Comparison

The maximum ETHE.SW drawdown since its inception was -77.57%, which is greater than FFUT's maximum drawdown of -5.73%. Use the drawdown chart below to compare losses from any high point for ETHE.SW and FFUT.

Drawdown Indicators

	ETHE.SW	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-77.57%	-5.73%	-71.84%
Max Drawdown (1Y) Largest decline over 1 year	-66.43%	-5.73%	-60.70%
Max Drawdown (3Y) Largest decline over 3 years	-66.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-77.57%	—	—
Current Drawdown Current decline from peak	-64.48%	-2.76%	-61.72%
Average Drawdown Average peak-to-trough decline	-47.12%	-1.77%	-45.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.26%	2.12%	+42.14%

Volatility

ETHE.SW vs. FFUT - Volatility Comparison

CoinShares Physical Ethereum (ETH) (ETHE.SW) has a higher volatility of 12.04% compared to Fidelity Managed Futures ETF (FFUT) at 4.59%. This indicates that ETHE.SW's price experiences larger fluctuations and is considered to be riskier than FFUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHE.SW	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.04%	4.59%	+7.45%
Volatility (6M) Calculated over the trailing 6-month period	41.58%	11.59%	+29.99%
Volatility (1Y) Calculated over the trailing 1-year period	60.88%	15.10%	+45.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.96%	14.49%	+54.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.09%	14.49%	+58.60%

ETHE.SW vs. FFUT - Expense Ratio Comparison

ETHE.SW has a 0.00% expense ratio, which is lower than FFUT's 0.80% expense ratio.

Dividends

ETHE.SW vs. FFUT - Dividend Comparison

ETHE.SW has not paid dividends to shareholders, while FFUT's dividend yield for the trailing twelve months is around 1.84%.

Position	TTM	2025
ETHE.SW CoinShares Physical Ethereum (ETH)	0.00%	0.00%
FFUT Fidelity Managed Futures ETF	1.84%	2.09%

Frequently Asked Questions

Can I hold both ETHE.SW and FFUT in my portfolio?

ETHE.SW and FFUT have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETHE.SW or FFUT?

On fees, ETHE.SW is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETHE.SW or FFUT?

ETHE.SW is cheaper with a 0.00% expense ratio, compared with 0.80% for FFUT.

What is the main difference between ETHE.SW and FFUT?

ETHE.SW is categorized as Cryptocurrency, while FFUT is Systematic Trend. They also come from different issuers: CoinShares and Fidelity. Their fees differ too: 0.00% for ETHE.SW and 0.80% for FFUT.