ETHE.SW vs. FFUT

Last updated Jun 4, 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. At a 0.05 correlation, their price movements are largely independent. 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 -38.22% return, which is significantly lower than FFUT's 12.42% return.

ETHE.SW

• 1D: -3.24%
• 1M: -20.52%
• YTD: -38.22%
• 6M: -40.57%
• 1Y: -31.93%
• 3Y*: -4.42%
• 5Y*: -9.17%
• 10Y*: —

FFUT

• 1D: -0.30%
• 1M: 2.07%
• YTD: 12.42%
• 6M: 13.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHE.SW vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
ETHE.SW CoinShares Physical Ethereum (ETH)	-38.22%	11.55%
FFUT Fidelity Managed Futures ETF	12.42%	4.80%

Correlation

The correlation between ETHE.SW and FFUT is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.05

Return for Risk

ETHE.SW vs. FFUT — Risk / Return Rank

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

ETHE.SW

ETHE.SW Risk / Return Rank: 5
ETHE.SW Sharpe Ratio Rank: 5
ETHE.SW Sortino Ratio Rank: 6
ETHE.SW Omega Ratio Rank: 6
ETHE.SW Calmar Ratio Rank: 4
ETHE.SW Martin Ratio Rank: 5

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.

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.

	ETHE.SW	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	—	—
Sortino ratio: Return per unit of downside risk	-0.17	—	—
Omega ratio: Gain probability vs. loss probability	0.98	—	—
Calmar ratio: Return relative to maximum drawdown	-0.52	—	—
Martin ratio: Return relative to average drawdown	-0.89	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ETHE.SW	FFUT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.41	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	1.23	-1.23

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	-61.87%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-65.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-77.57%	—	—
Current Drawdown Current decline from peak	-66.59%	-0.30%	-66.29%
Average Drawdown Average peak-to-trough decline	-43.25%	-1.85%	-41.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.01%	—	—

Volatility

Volatility by Period

	ETHE.SW	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	60.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	78.96%	14.70%	+64.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.47%	14.70%	+69.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.11%	14.70%	+72.41%

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 1.85%.

Position	TTM	2025
ETHE.SW CoinShares Physical Ethereum (ETH)	0.00%	0.00%
FFUT Fidelity Managed Futures ETF	1.85%	2.09%

Frequently Asked Questions

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

ETHE.SW and FFUT have a correlation of 0.05, 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.