ETHY.TO vs. FETH
ETHY.TO (Purpose Ether Yield ETF - ETF Units) and FETH (Fidelity Ethereum Fund) are both Cryptocurrency funds. ETHY.TO is actively managed, while FETH is passively managed. Over the past year, ETHY.TO returned -52.39% vs -46.18% for FETH. Their correlation of 0.92 means they have usually moved in the same direction. ETHY.TO charges 1.53%/yr vs 0.25%/yr for FETH.
Performance
ETHY.TO vs. FETH - Performance Comparison
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Different Trading Currencies
ETHY.TO is traded in CAD, while FETH is traded in USD. To make them comparable, the FETH values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ETHY.TO achieves a -44.63% return, which is significantly lower than FETH's -35.69% return.
ETHY.TO
- 1D
- -3.23%
- 1M
- 8.29%
- 6M
- -27.27%
- YTD
- -44.63%
- 1Y
- -52.39%
- 3Y*
- -7.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -23.21%
FETH
- 1D
- 0.17%
- 1M
- 8.28%
- 6M
- -17.35%
- YTD
- -35.69%
- 1Y
- -46.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$168.42K | CA$177.20K | CA$339.85K | |
| CA$41.40M | CA$41.88M | CA$48.86M |
ETHY.TO vs. FETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHY.TO Purpose Ether Yield ETF - ETF Units | -44.63% | -16.24% | 2.22% |
FETH Fidelity Ethereum Fund | -35.69% | -15.42% | -0.60% |
Correlation
The correlation between ETHY.TO and FETH is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.92 |
The correlation between ETHY.TO and FETH has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
ETHY.TO vs. FETH — Risk / Return Rank
ETHY.TO
FETH
ETHY.TO vs. FETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Ether Yield ETF - ETF Units (ETHY.TO) 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.
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.
| ETHY.TO | FETH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.91 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.69 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.19 | -1.01 | -0.18 |
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Drawdowns
ETHY.TO vs. FETH - Drawdown Comparison
The maximum ETHY.TO drawdown since its inception was -77.54%, which is greater than FETH's maximum drawdown of -67.56%. Use the drawdown chart below to compare losses from any high point for ETHY.TO and FETH.
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Drawdown Indicators
| ETHY.TO | FETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.54% | -67.56% | -9.98% |
Max Drawdown (1Y)Largest decline over 1 year | -71.48% | -67.56% | -3.92% |
Max Drawdown (3Y)Largest decline over 3 years | -71.48% | — | — |
Current DrawdownCurrent decline from peak | -70.78% | -61.24% | -9.54% |
Average DrawdownAverage peak-to-trough decline | -53.57% | -35.58% | -17.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.47% | 45.77% | +0.70% |
Volatility
ETHY.TO vs. FETH - Volatility Comparison
Purpose Ether Yield ETF - ETF Units (ETHY.TO) has a higher volatility of 13.16% compared to Fidelity Ethereum Fund (FETH) at 12.15%. This indicates that ETHY.TO's price experiences larger fluctuations and is considered to be riskier than FETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHY.TO | FETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.16% | 12.15% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 55.61% | 45.27% | +10.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.00% | 67.25% | +4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.65% | 71.22% | -5.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.65% | 71.22% | -5.57% |
ETHY.TO vs. FETH - Expense Ratio Comparison
ETHY.TO has a 1.53% expense ratio, which is higher than FETH's 0.25% expense ratio.
Dividends
ETHY.TO vs. FETH - Dividend Comparison
ETHY.TO's dividend yield for the trailing twelve months is around 47.30%, while FETH has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ETHY.TO Purpose Ether Yield ETF - ETF Units | 47.30% | 19.26% | 21.40% | 10.34% | 26.08% | 0.63% |
FETH Fidelity Ethereum Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, ETHY.TO and FETH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, FETH is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FETH is cheaper with a 0.25% expense ratio, compared with 1.53% for ETHY.TO.
They also come from different issuers: Purpose and Fidelity. Their fees differ too: 1.53% for ETHY.TO and 0.25% for FETH.
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