FETH vs. ONEQ
Compare and contrast key facts about Fidelity Ethereum Fund (FETH) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).
FETH and ONEQ 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. ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003. Both FETH and ONEQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FETH vs. ONEQ - Performance Comparison
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FETH vs. ONEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FETH Fidelity Ethereum Fund | -29.48% | -11.37% | -3.61% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | -6.77% | 20.89% | 7.78% |
Returns By Period
In the year-to-date period, FETH achieves a -29.48% return, which is significantly lower than ONEQ's -6.77% return.
FETH
- 1D
- 3.67%
- 1M
- 8.89%
- YTD
- -29.48%
- 6M
- -49.75%
- 1Y
- 14.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ONEQ
- 1D
- 3.78%
- 1M
- -4.49%
- YTD
- -6.77%
- 6M
- -4.24%
- 1Y
- 25.78%
- 3Y*
- 21.89%
- 5Y*
- 11.02%
- 10Y*
- 17.18%
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FETH vs. ONEQ - Expense Ratio Comparison
FETH has a 0.00% expense ratio, which is lower than ONEQ's 0.21% 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%.
Return for Risk
FETH vs. ONEQ — Risk / Return Rank
FETH
ONEQ
FETH vs. ONEQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Ethereum Fund (FETH) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ). 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 | ONEQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.19 | 1.12 | -0.92 |
Sortino ratioReturn per unit of downside risk | 0.84 | 1.72 | -0.88 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.25 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.95 | -1.76 |
Martin ratioReturn relative to average drawdown | 0.38 | 7.24 | -6.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FETH | ONEQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.19 | 1.12 | -0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.50 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.35 | 0.60 | -0.95 |
Correlation
The correlation between FETH and ONEQ is 0.54, 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. ONEQ - Dividend Comparison
FETH has not paid dividends to shareholders, while ONEQ's dividend yield for the trailing twelve months is around 0.83%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FETH Fidelity Ethereum Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.83% | 0.54% | 0.65% | 0.71% | 0.97% | 0.54% | 0.71% | 2.51% | 1.08% | 0.84% | 1.12% | 1.04% |
Drawdowns
FETH vs. ONEQ - Drawdown Comparison
The maximum FETH drawdown since its inception was -64.00%, which is greater than ONEQ's maximum drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for FETH and ONEQ.
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Drawdown Indicators
| FETH | ONEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.00% | -55.09% | -8.91% |
Max Drawdown (1Y)Largest decline over 1 year | -61.74% | -13.13% | -48.61% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.23% | — |
Current DrawdownCurrent decline from peak | -56.86% | -9.34% | -47.52% |
Average DrawdownAverage peak-to-trough decline | -30.47% | -8.01% | -22.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.48% | 3.53% | +26.95% |
Volatility
FETH vs. ONEQ - Volatility Comparison
Fidelity Ethereum Fund (FETH) has a higher volatility of 19.25% compared to Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) at 6.93%. This indicates that FETH's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FETH | ONEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.25% | 6.93% | +12.32% |
Volatility (6M)Calculated over the trailing 6-month period | 53.53% | 12.90% | +40.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.83% | 23.22% | +52.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.85% | 22.16% | +52.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.85% | 21.67% | +53.18% |