FETH vs. ETHV

Last updated Jun 23, 2026

FETH (Fidelity Ethereum Fund) and ETHV (VanEck Ethereum ETF) are both Cryptocurrency funds - FETH tracks the Fidelity Ethereum Reference Rate Index while ETHV tracks the MarketVector Ethereum Benchmark Rate. Both are passively managed. Over the past year, FETH returned -28.37% vs -28.37% for ETHV. With a 1.00 correlation, they move nearly in lockstep. FETH charges 0.25%/yr vs 0.20%/yr for ETHV.

Performance

FETH vs. ETHV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Ethereum Fund (FETH) and VanEck Ethereum ETF (ETHV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FETH having a -41.68% return and ETHV slightly lower at -41.71%.

FETH

• 1D: 1.65%
• 1M: -15.96%
• YTD: -41.68%
• 6M: -41.81%
• 1Y: -28.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHV

• 1D: 1.56%
• 1M: -16.10%
• YTD: -41.71%
• 6M: -41.81%
• 1Y: -28.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FETH vs. ETHV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FETH Fidelity Ethereum Fund	-41.68%	-11.37%	-4.68%
ETHV VanEck Ethereum ETF	-41.71%	-11.02%	-5.50%

Correlation

The correlation between FETH and ETHV is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	1.00

The correlation between FETH and ETHV has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FETH vs. ETHV — Risk / Return Rank

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

FETH

FETH Risk / Return Rank: 6
FETH Sharpe Ratio Rank: 5
FETH Sortino Ratio Rank: 6
FETH Omega Ratio Rank: 6
FETH Calmar Ratio Rank: 5
FETH Martin Ratio Rank: 5

ETHV

ETHV Risk / Return Rank: 6
ETHV Sharpe Ratio Rank: 5
ETHV Sortino Ratio Rank: 6
ETHV Omega Ratio Rank: 6
ETHV Calmar Ratio Rank: 5
ETHV Martin Ratio Rank: 6

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.

FETH vs. ETHV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Ethereum Fund (FETH) and VanEck Ethereum ETF (ETHV). 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	ETHV	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	-0.41	0.00
Sortino ratio: Return per unit of downside risk	-0.20	-0.20	0.00
Omega ratio: Gain probability vs. loss probability	0.98	0.98	0.00
Calmar ratio: Return relative to maximum drawdown	-0.42	-0.42	0.00
Martin ratio: Return relative to average drawdown	-0.71	-0.71	0.00

FETH vs. ETHV - Sharpe Ratio Comparison

The current FETH Sharpe Ratio is -0.41, which is comparable to the ETHV Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of FETH and ETHV, 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

FETH vs. ETHV - Drawdown Comparison

The maximum FETH drawdown since its inception was -67.57%, roughly equal to the maximum ETHV drawdown of -67.54%. Use the drawdown chart below to compare losses from any high point for FETH and ETHV.

Drawdown Indicators

	FETH	ETHV	Difference
Max Drawdown Largest peak-to-trough decline	-67.57%	-67.54%	-0.03%
Max Drawdown (1Y) Largest decline over 1 year	-67.57%	-67.54%	-0.03%
Current Drawdown Current decline from peak	-64.32%	-64.27%	-0.05%
Average Drawdown Average peak-to-trough decline	-33.62%	-33.65%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.27%	40.19%	+0.08%

Volatility

FETH vs. ETHV - Volatility Comparison

Fidelity Ethereum Fund (FETH) and VanEck Ethereum ETF (ETHV) have volatilities of 19.56% and 19.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FETH	ETHV	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.56%	19.48%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	46.74%	46.75%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	69.17%	69.07%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.40%	72.42%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.40%	72.42%	-0.02%

FETH vs. ETHV - Expense Ratio Comparison

FETH has a 0.25% expense ratio, which is higher than ETHV's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FETH vs. ETHV - Dividend Comparison

Neither FETH nor ETHV has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FETH and ETHV in my portfolio?

With a correlation of 1.00, FETH and ETHV 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.

Which is riskier, FETH or ETHV?

FETH has higher volatility (19.56%) compared to ETHV (19.48%). In terms of maximum drawdown, FETH dropped -67.57% vs ETHV's -67.54%.

Which ETF is better, FETH or ETHV?

On 1-year performance, ETHV leads with -28.37% vs -28.37% for FETH. On fees, ETHV is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FETH or ETHV?

Over the 1-year period, ETHV has performed better with a -28.37% return vs -28.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FETH or ETHV?

ETHV is cheaper with a 0.20% expense ratio, compared with 0.25% for FETH.

Which ETF pays a higher dividend yield, FETH or ETHV?

FETH and ETHV have nearly identical dividend yields, around 0.00%.

What is the main difference between FETH and ETHV?

FETH tracks Fidelity Ethereum Reference Rate Index, while ETHV tracks MarketVector Ethereum Benchmark Rate. They also come from different issuers: Fidelity and VanEck. Their fees differ too: 0.25% for FETH and 0.20% for ETHV.

Which has better risk-adjusted returns?

FETH currently has the higher Sharpe Ratio (-0.41 vs -0.41), 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.