FETH vs. FELC

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Ethereum Fund (FETH) and Fidelity Enhanced Large Cap Core ETF (FELC).

FETH and FELC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FETH is a passively managed fund by Fidelity that tracks the performance of the Fidelity Ethereum Reference Rate Index. It was launched on Jul 22, 2024. FELC is an actively managed fund by Fidelity. It was launched on Apr 19, 2007.

Performance

FETH vs. FELC - Performance Comparison

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

FETH vs. FELC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FETH Fidelity Ethereum Fund	-29.48%	-11.37%	-3.61%
FELC Fidelity Enhanced Large Cap Core ETF	-4.71%	17.09%	6.65%

Returns By Period

In the year-to-date period, FETH achieves a -29.48% return, which is significantly lower than FELC's -4.71% return.

FETH

• 1D: 3.67%
• 1M: 8.89%
• YTD: -29.48%
• 6M: -49.75%
• 1Y: 14.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FELC

• 1D: 2.92%
• 1M: -4.96%
• YTD: -4.71%
• 6M: -2.19%
• 1Y: 17.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FETH vs. FELC - Expense Ratio Comparison

FETH has a 0.00% expense ratio, which is lower than FELC's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

FELC

Fidelity Enhanced Large Cap Core ETF

FETH

Fidelity Ethereum Fund

Return for Risk

FETH vs. FELC — Risk / Return Rank

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

FETH

FETH Risk / Return Rank: 21
FETH Sharpe Ratio Rank: 18
FETH Sortino Ratio Rank: 31
FETH Omega Ratio Rank: 26
FETH Calmar Ratio Rank: 17
FETH Martin Ratio Rank: 15

FELC

FELC Risk / Return Rank: 64
FELC Sharpe Ratio Rank: 58
FELC Sortino Ratio Rank: 61
FELC Omega Ratio Rank: 64
FELC Calmar Ratio Rank: 64
FELC Martin Ratio Rank: 73

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. FELC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Ethereum Fund (FETH) and Fidelity Enhanced Large Cap Core ETF (FELC). 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.

	FETH	FELC	Difference
Sharpe ratio Return per unit of total volatility	0.19	0.96	-0.77
Sortino ratio Return per unit of downside risk	0.84	1.47	-0.63
Omega ratio Gain probability vs. loss probability	1.10	1.22	-0.13
Calmar ratio Return relative to maximum drawdown	0.19	1.50	-1.31
Martin ratio Return relative to average drawdown	0.38	7.02	-6.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FETH vs. FELC - Sharpe Ratio Comparison

The current FETH Sharpe Ratio is 0.19, which is lower than the FELC Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of FETH and FELC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FETH	FELC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	0.96	-0.77
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	1.18	-1.52

Correlation

The correlation between FETH and FELC is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FETH vs. FELC - Dividend Comparison

FETH has not paid dividends to shareholders, while FELC's dividend yield for the trailing twelve months is around 0.99%.

	TTM	2025	2024	2023
FETH Fidelity Ethereum Fund	0.00%	0.00%	0.00%	0.00%
FELC Fidelity Enhanced Large Cap Core ETF	0.99%	0.92%	1.03%	0.04%

Drawdowns

FETH vs. FELC - Drawdown Comparison

The maximum FETH drawdown since its inception was -64.00%, which is greater than FELC's maximum drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for FETH and FELC.

Drawdown Indicators

	FETH	FELC	Difference
Max Drawdown Largest peak-to-trough decline	-64.00%	-18.59%	-45.41%
Max Drawdown (1Y) Largest decline over 1 year	-61.74%	-12.01%	-49.73%
Current Drawdown Current decline from peak	-56.86%	-6.43%	-50.43%
Average Drawdown Average peak-to-trough decline	-30.47%	-1.98%	-28.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.48%	2.56%	+27.92%

Volatility

FETH vs. FELC - Volatility Comparison

Fidelity Ethereum Fund (FETH) has a higher volatility of 19.25% compared to Fidelity Enhanced Large Cap Core ETF (FELC) at 5.29%. This indicates that FETH's price experiences larger fluctuations and is considered to be riskier than FELC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FETH	FELC	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.25%	5.29%	+13.96%
Volatility (6M) Calculated over the trailing 6-month period	53.53%	9.59%	+43.94%
Volatility (1Y) Calculated over the trailing 1-year period	75.83%	18.21%	+57.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.85%	15.42%	+59.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.85%	15.42%	+59.43%