FETH vs. BTC-USD
FETH (Fidelity Ethereum Fund) is Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, FETH returned -28.37% vs -36.56% for BTC-USD. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
FETH vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, FETH achieves a -41.68% return, which is significantly lower than BTC-USD's -26.78% return.
FETH
- 1D
- 1.65%
- 1M
- -15.96%
- YTD
- -41.68%
- 6M
- -41.81%
- 1Y
- -28.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 1.32%
- 1M
- -16.41%
- YTD
- -26.78%
- 6M
- -27.65%
- 1Y
- -36.56%
- 3Y*
- 27.78%
- 5Y*
- 13.72%
- 10Y*
- 57.78%
FETH vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FETH Fidelity Ethereum Fund | -41.68% | -11.37% | -4.68% |
BTC-USD Bitcoin | -26.78% | -6.27% | 38.18% |
Correlation
The correlation between FETH and BTC-USD is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.57 |
The correlation between FETH and BTC-USD has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.
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Return for Risk
FETH vs. BTC-USD — Risk / Return Rank
FETH
BTC-USD
FETH vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Ethereum Fund (FETH) and Bitcoin (BTC-USD). 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.
| FETH | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.88 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.71 | +0.29 |
| Martin ratioReturn relative to average drawdown | -0.71 | -1.20 | +0.50 |
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Drawdowns
FETH vs. BTC-USD - Drawdown Comparison
The maximum FETH drawdown since its inception was -67.57%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for FETH and BTC-USD.
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Drawdown Indicators
| FETH | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.57% | -85.30% | +17.73% |
Max Drawdown (1Y)Largest decline over 1 year | -67.57% | -51.21% | -16.36% |
Max Drawdown (3Y)Largest decline over 3 years | — | -51.21% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -64.32% | -48.63% | -15.69% |
Average DrawdownAverage peak-to-trough decline | -33.62% | -42.41% | +8.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.27% | 31.17% | +9.10% |
Volatility
FETH vs. BTC-USD - Volatility Comparison
Fidelity Ethereum Fund (FETH) has a higher volatility of 19.56% compared to Bitcoin (BTC-USD) at 12.27%. This indicates that FETH's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FETH | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.56% | 12.27% | +7.29% |
Volatility (6M)Calculated over the trailing 6-month period | 46.74% | 34.57% | +12.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.17% | 35.70% | +33.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.40% | 44.28% | +28.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.40% | 56.43% | +15.97% |
Frequently Asked Questions
FETH and BTC-USD have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FETH has higher volatility (19.56%) compared to BTC-USD (12.27%). In terms of maximum drawdown, FETH dropped -67.57% vs BTC-USD's -85.30%.
FETH currently has the higher Sharpe Ratio (-0.41 vs -0.85), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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