FETH vs. VOO

Last updated Jul 14, 2026

FETH (Fidelity Ethereum Fund) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, FETH returned -41.37% vs 21.53% for VOO. A 0.51 correlation means they provide meaningful diversification when combined. FETH charges 0.25%/yr vs 0.03%/yr for VOO.

Performance

FETH vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Ethereum Fund (FETH) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FETH achieves a -40.36% return, which is significantly lower than VOO's 10.45% return.

FETH

• 1D: -1.12%
• 1M: 6.51%
• 6M: -42.88%
• YTD: -40.36%
• 1Y: -41.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VOO

• 1D: -0.77%
• 1M: 1.25%
• 6M: 8.34%
• YTD: 10.45%
• 1Y: 21.53%
• 3Y*: 20.16%
• 5Y*: 13.01%
• 10Y*: 15.16%

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

FETH vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FETH Fidelity Ethereum Fund	-40.36%	-11.37%	-4.68%
VOO Vanguard S&P 500 ETF	10.45%	17.82%	6.36%

Correlation

The correlation between FETH and VOO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.51

The correlation between FETH and VOO has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.

Return for Risk

FETH vs. VOO — Risk / Return Rank

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

FETH

FETH Risk / Return Rank: 5
FETH Sharpe Ratio Rank: 4
FETH Sortino Ratio Rank: 5
FETH Omega Ratio Rank: 5
FETH Calmar Ratio Rank: 4
FETH Martin Ratio Rank: 5

VOO

VOO Risk / Return Rank: 66
VOO Sharpe Ratio Rank: 66
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 61
VOO Martin Ratio Rank: 72

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Ethereum Fund (FETH) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.61	1.73	-2.34
Sortino ratio: Return per unit of downside risk	-0.63	2.39	-3.02
Omega ratio: Gain probability vs. loss probability	0.93	1.31	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.61	2.43	-3.04
Martin ratio: Return relative to average drawdown	-0.96	10.60	-11.56

FETH vs. VOO - Sharpe Ratio Comparison

The current FETH Sharpe Ratio is -0.61, which is lower than the VOO Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FETH and VOO, 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. VOO - Drawdown Comparison

The maximum FETH drawdown since its inception was -67.94%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FETH and VOO.

Drawdown Indicators

	FETH	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-67.94%	-33.99%	-33.95%
Max Drawdown (1Y) Largest decline over 1 year	-67.94%	-8.90%	-59.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-63.51%	-1.11%	-62.40%
Average Drawdown Average peak-to-trough decline	-34.52%	-3.68%	-30.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.12%	2.04%	+41.08%

Volatility

FETH vs. VOO - Volatility Comparison

Fidelity Ethereum Fund (FETH) has a higher volatility of 16.12% compared to Vanguard S&P 500 ETF (VOO) at 4.16%. This indicates that FETH's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FETH	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.12%	4.16%	+11.96%
Volatility (6M) Calculated over the trailing 6-month period	46.94%	9.97%	+36.97%
Volatility (1Y) Calculated over the trailing 1-year period	68.30%	12.53%	+55.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.86%	16.93%	+54.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.86%	18.00%	+53.86%

FETH vs. VOO - Expense Ratio Comparison

FETH has a 0.25% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison

FETH has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.07%.

Position	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%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both FETH and VOO in my portfolio?

FETH and VOO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FETH or VOO?

FETH has higher volatility (16.12%) compared to VOO (4.16%). In terms of maximum drawdown, FETH dropped -67.94% vs VOO's -33.99%.

Which ETF is better, FETH or VOO?

On 1-year performance, VOO leads with 21.53% vs -41.37% for FETH. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FETH or VOO?

Over the 1-year period, VOO has performed better with a 21.53% return vs -41.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FETH or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.25% for FETH.

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

VOO has the higher dividend yield at 1.07%, compared with 0.00% for FETH.

What is the main difference between FETH and VOO?

FETH is categorized as Cryptocurrency, while VOO is S&P 500. FETH tracks Fidelity Ethereum Reference Rate Index, while VOO tracks S&P 500 Index. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.25% for FETH and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.73 vs -0.61), 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.