FETH vs. IBIT
FETH (Fidelity Ethereum Fund) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds - FETH tracks the Fidelity Ethereum Reference Rate Index while IBIT tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, FETH returned -30.61% vs -41.92% for IBIT. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
FETH vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, FETH achieves a -39.68% return, which is significantly lower than IBIT's -27.25% return.
FETH
- 1D
- 5.43%
- 1M
- 13.79%
- 6M
- -44.80%
- YTD
- -39.68%
- 1Y
- -30.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- 3.58%
- 1M
- 5.80%
- 6M
- -32.44%
- YTD
- -27.25%
- 1Y
- -41.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FETH vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FETH Fidelity Ethereum Fund | -39.68% | -11.37% | -4.68% |
IBIT iShares Bitcoin Trust ETF | -27.25% | -6.41% | 36.27% |
Correlation
The correlation between FETH and IBIT is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.82 |
The correlation between FETH and IBIT has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
FETH vs. IBIT — Risk / Return Rank
FETH
IBIT
FETH vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Ethereum Fund (FETH) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.85 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | -0.79 | +0.34 |
| Martin ratioReturn relative to average drawdown | -0.73 | -1.31 | +0.59 |
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Drawdowns
FETH vs. IBIT - Drawdown Comparison
The maximum FETH drawdown since its inception was -67.94%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for FETH and IBIT.
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Drawdown Indicators
| FETH | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.94% | -53.30% | -14.64% |
Max Drawdown (1Y)Largest decline over 1 year | -67.94% | -53.30% | -14.64% |
Current DrawdownCurrent decline from peak | -63.10% | -49.33% | -13.77% |
Average DrawdownAverage peak-to-trough decline | -34.22% | -17.30% | -16.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.18% | 31.95% | +10.23% |
Volatility
FETH vs. IBIT - Volatility Comparison
Fidelity Ethereum Fund (FETH) has a higher volatility of 21.25% compared to iShares Bitcoin Trust ETF (IBIT) at 13.47%. This indicates that FETH's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FETH | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.25% | 13.47% | +7.78% |
Volatility (6M)Calculated over the trailing 6-month period | 47.38% | 35.10% | +12.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.91% | 44.56% | +24.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.17% | 50.10% | +22.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.17% | 50.10% | +22.07% |
FETH vs. IBIT - Expense Ratio Comparison
Both FETH and IBIT have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FETH vs. IBIT - Dividend Comparison
Neither FETH nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
FETH and IBIT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FETH has higher volatility (21.25%) compared to IBIT (13.47%). In terms of maximum drawdown, FETH dropped -67.94% vs IBIT's -53.30%.
On 1-year performance, FETH leads with -30.61% vs -41.92% for IBIT. Both ETFs have the same 0.25% expense ratio. On volatility, IBIT has been the lower-risk option at 13.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FETH has performed better with a -30.61% return vs -41.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FETH and IBIT have the same expense ratio: 0.25% per year.
FETH and IBIT have nearly identical dividend yields, around 0.00%.
FETH tracks Fidelity Ethereum Reference Rate Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Fidelity and iShares.
FETH currently has the higher Sharpe Ratio (-0.45 vs -0.95), 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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