FETH vs. ETH-USD
FETH (Fidelity Ethereum Fund) is Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index, while ETH-USD (Ethereum) is a cryptocurrency. Over the past year, FETH returned -32.83% vs -29.59% for ETH-USD. A 0.68 correlation means they provide meaningful diversification when combined.
Performance
FETH vs. ETH-USD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FETH having a -39.61% return and ETH-USD slightly higher at -39.60%.
FETH
- 1D
- -1.49%
- 1M
- -19.20%
- YTD
- -39.61%
- 6M
- -39.16%
- 1Y
- -32.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH-USD
- 1D
- -0.16%
- 1M
- -15.85%
- YTD
- -39.60%
- 6M
- -39.50%
- 1Y
- -29.59%
- 3Y*
- 1.24%
- 5Y*
- -5.46%
- 10Y*
- 65.48%
FETH vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FETH Fidelity Ethereum Fund | -39.61% | -11.37% | -4.68% |
ETH-USD Ethereum | -39.60% | -10.91% | -3.22% |
Correlation
The correlation between FETH and ETH-USD is 0.69, 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 | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.68 |
The correlation between FETH and ETH-USD has been stable across timeframes, ranging from 0.68 to 0.69 - a consistent structural relationship.
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Return for Risk
FETH vs. ETH-USD — Risk / Return Rank
FETH
ETH-USD
FETH vs. ETH-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Ethereum Fund (FETH) and Ethereum (ETH-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 | ETH-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.97 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | -0.44 | -0.05 |
| Martin ratioReturn relative to average drawdown | -0.83 | -0.75 | -0.08 |
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Drawdowns
FETH vs. ETH-USD - Drawdown Comparison
The maximum FETH drawdown since its inception was -67.57%, smaller than the maximum ETH-USD drawdown of -94.01%. Use the drawdown chart below to compare losses from any high point for FETH and ETH-USD.
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Drawdown Indicators
| FETH | ETH-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.57% | -94.01% | +26.44% |
Max Drawdown (1Y)Largest decline over 1 year | -67.57% | -67.53% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | — | -67.53% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -79.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -94.01% | — |
Current DrawdownCurrent decline from peak | -63.06% | -62.91% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -33.43% | -50.90% | +17.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.69% | 44.29% | -4.60% |
Volatility
FETH vs. ETH-USD - Volatility Comparison
Fidelity Ethereum Fund (FETH) has a higher volatility of 19.66% compared to Ethereum (ETH-USD) at 18.01%. This indicates that FETH's price experiences larger fluctuations and is considered to be riskier than ETH-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 | ETH-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.66% | 18.01% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 47.01% | 46.47% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.39% | 56.17% | +13.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.56% | 59.51% | +13.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.56% | 77.51% | -4.95% |
Frequently Asked Questions
FETH and ETH-USD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FETH has higher volatility (19.66%) compared to ETH-USD (18.01%). In terms of maximum drawdown, FETH dropped -67.57% vs ETH-USD's -94.01%.
ETH-USD currently has the higher Sharpe Ratio (-0.44 vs -0.48), 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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