FETH vs. YETH

Last updated Jun 4, 2026

FETH (Fidelity Ethereum Fund) and YETH (Roundhill Ether Covered Call Strategy ETF) are both exchange-traded funds - FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index, while YETH is a Derivative Income fund actively managed by Roundhill. FETH is passively managed, while YETH is actively managed. Over the past year, FETH returned -31.75% vs -30.02% for YETH. Their correlation of 0.92 suggests significant overlap in exposure. FETH charges 0.00%/yr vs 0.95%/yr for YETH.

Performance

FETH vs. YETH - Performance Comparison

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

Returns By Period

In the year-to-date period, FETH achieves a -39.45% return, which is significantly lower than YETH's -32.96% return.

FETH

• 1D: -5.78%
• 1M: -23.67%
• YTD: -39.45%
• 6M: -42.77%
• 1Y: -31.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YETH

• 1D: -5.65%
• 1M: -21.15%
• YTD: -32.96%
• 6M: -31.91%
• 1Y: -30.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FETH vs. YETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FETH Fidelity Ethereum Fund	-39.45%	-11.37%	36.15%
YETH Roundhill Ether Covered Call Strategy ETF	-32.96%	-32.10%	24.84%

Correlation

The correlation between FETH and YETH is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.92

The correlation between FETH and YETH has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

FETH vs. YETH — 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: 5
FETH Sortino Ratio Rank: 5
FETH Omega Ratio Rank: 5
FETH Calmar Ratio Rank: 4
FETH Martin Ratio Rank: 5

YETH

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

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. YETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Ethereum Fund (FETH) and Roundhill Ether Covered Call Strategy ETF (YETH). 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	YETH	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	-0.53	+0.06
Sortino ratio: Return per unit of downside risk	-0.32	-0.47	+0.15
Omega ratio: Gain probability vs. loss probability	0.97	0.94	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.51	-0.54	+0.04
Martin ratio: Return relative to average drawdown	-0.84	-0.97	+0.13
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. YETH - Sharpe Ratio Comparison

The current FETH Sharpe Ratio is -0.47, which is comparable to the YETH Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of FETH and YETH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FETH	YETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	-0.53	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	-0.50	+0.09

Drawdowns

FETH vs. YETH - Drawdown Comparison

The maximum FETH drawdown since its inception was -64.00%, roughly equal to the maximum YETH drawdown of -61.73%. Use the drawdown chart below to compare losses from any high point for FETH and YETH.

Drawdown Indicators

	FETH	YETH	Difference
Max Drawdown Largest peak-to-trough decline	-64.00%	-61.73%	-2.27%
Max Drawdown (1Y) Largest decline over 1 year	-62.95%	-55.63%	-7.32%
Current Drawdown Current decline from peak	-62.95%	-59.04%	-3.91%
Average Drawdown Average peak-to-trough decline	-32.73%	-30.92%	-1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.82%	30.92%	+6.90%

Volatility

FETH vs. YETH - Volatility Comparison

Fidelity Ethereum Fund (FETH) and Roundhill Ether Covered Call Strategy ETF (YETH) have volatilities of 9.99% and 9.54%, 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	YETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.99%	9.54%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	46.01%	38.84%	+7.17%
Volatility (1Y) Calculated over the trailing 1-year period	68.50%	57.08%	+11.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.27%	55.42%	+16.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.27%	55.42%	+16.85%

FETH vs. YETH - Expense Ratio Comparison

FETH has a 0.00% expense ratio, which is lower than YETH's 0.95% expense ratio.

Dividends

FETH vs. YETH - Dividend Comparison

FETH has not paid dividends to shareholders, while YETH's dividend yield for the trailing twelve months is around 142.11%.

Position	TTM	2025	2024
FETH Fidelity Ethereum Fund	0.00%	0.00%	0.00%
YETH Roundhill Ether Covered Call Strategy ETF	142.11%	109.12%	20.52%

Frequently Asked Questions

Can I hold both FETH and YETH in my portfolio?

With a correlation of 0.93, FETH and YETH 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 YETH?

FETH has higher volatility (9.99%) compared to YETH (9.54%). In terms of maximum drawdown, FETH dropped -64.00% vs YETH's -61.73%.

Which ETF is better, FETH or YETH?

On 1-year performance, YETH leads with -30.02% vs -31.75% for FETH. On fees, FETH is cheaper at 0.00% per year. On volatility, YETH has been the lower-risk option at 9.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FETH or YETH?

Over the 1-year period, YETH has performed better with a -30.02% return vs -31.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FETH or YETH?

FETH is cheaper with a 0.00% expense ratio, compared with 0.95% for YETH.

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

YETH has the higher dividend yield at 142.11%, compared with 0.00% for FETH.

What is the main difference between FETH and YETH?

FETH is categorized as Cryptocurrency, while YETH is Derivative Income. They also come from different issuers: Fidelity and Roundhill. Their fees differ too: 0.00% for FETH and 0.95% for YETH.

Which has better risk-adjusted returns?

FETH currently has the higher Sharpe Ratio (-0.47 vs -0.53), 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.