FHLC vs. FETH

Last updated Jul 14, 2026

FHLC (Fidelity MSCI Health Care Index ETF) and FETH (Fidelity Ethereum Fund) are both exchange-traded funds - FHLC is a Health & Biotech Equities fund tracking the MSCI USA IMI Health Care Index, while FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index. Both are passively managed. Over the past year, FHLC returned 24.09% vs -41.37% for FETH. At a 0.17 correlation, their price movements are largely independent. FHLC charges 0.08%/yr vs 0.25%/yr for FETH.

Performance

FHLC vs. FETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Health Care Index ETF (FHLC) and Fidelity Ethereum Fund (FETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHLC achieves a 6.34% return, which is significantly higher than FETH's -40.36% return.

FHLC

• 1D: 0.06%
• 1M: 6.31%
• 6M: 4.63%
• YTD: 6.34%
• 1Y: 24.09%
• 3Y*: 9.27%
• 5Y*: 5.56%
• 10Y*: 9.95%

FETH

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

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

FHLC vs. FETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FHLC Fidelity MSCI Health Care Index ETF	6.34%	15.42%	-6.39%
FETH Fidelity Ethereum Fund	-40.36%	-11.37%	-4.68%

Correlation

The correlation between FHLC and FETH is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.17

Return for Risk

FHLC vs. FETH — Risk / Return Rank

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

FHLC

FHLC Risk / Return Rank: 57
FHLC Sharpe Ratio Rank: 59
FHLC Sortino Ratio Rank: 67
FHLC Omega Ratio Rank: 56
FHLC Calmar Ratio Rank: 58
FHLC Martin Ratio Rank: 44

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

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.

FHLC vs. FETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Health Care Index ETF (FHLC) and Fidelity Ethereum Fund (FETH). 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.

	FHLC	FETH	Difference
Sharpe ratio: Return per unit of total volatility	1.58	-0.61	+2.19
Sortino ratio: Return per unit of downside risk	2.44	-0.63	+3.07
Omega ratio: Gain probability vs. loss probability	1.28	0.93	+0.35
Calmar ratio: Return relative to maximum drawdown	2.33	-0.61	+2.94
Martin ratio: Return relative to average drawdown	5.77	-0.96	+6.73

FHLC vs. FETH - Sharpe Ratio Comparison

The current FHLC Sharpe Ratio is 1.58, which is higher than the FETH Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of FHLC and FETH, 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

FHLC vs. FETH - Drawdown Comparison

The maximum FHLC drawdown since its inception was -28.76%, smaller than the maximum FETH drawdown of -67.94%. Use the drawdown chart below to compare losses from any high point for FHLC and FETH.

Drawdown Indicators

	FHLC	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-28.76%	-67.94%	+39.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-67.94%	+57.56%
Max Drawdown (3Y) Largest decline over 3 years	-16.87%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.76%	—	—
Current Drawdown Current decline from peak	-2.12%	-63.51%	+61.39%
Average Drawdown Average peak-to-trough decline	-5.17%	-34.52%	+29.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	43.12%	-38.93%

Volatility

FHLC vs. FETH - Volatility Comparison

The current volatility for Fidelity MSCI Health Care Index ETF (FHLC) is 5.37%, while Fidelity Ethereum Fund (FETH) has a volatility of 16.12%. This indicates that FHLC experiences smaller price fluctuations and is considered to be less risky than FETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHLC	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	16.12%	-10.75%
Volatility (6M) Calculated over the trailing 6-month period	11.28%	46.94%	-35.66%
Volatility (1Y) Calculated over the trailing 1-year period	15.34%	68.30%	-52.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	71.86%	-56.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	71.86%	-55.01%

FHLC vs. FETH - Expense Ratio Comparison

FHLC has a 0.08% expense ratio, which is lower than FETH's 0.25% 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%.

Dividends

FHLC vs. FETH - Dividend Comparison

FHLC's dividend yield for the trailing twelve months is around 1.30%, while FETH has not paid dividends to shareholders.

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%
FHLC Fidelity MSCI Health Care Index ETF	1.30%	1.40%	1.51%	1.40%	1.30%	1.16%	1.45%	1.18%	1.38%	1.38%	1.40%	2.07%

Frequently Asked Questions

Can I hold both FHLC and FETH in my portfolio?

FHLC and FETH have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHLC or FETH?

FETH has higher volatility (16.12%) compared to FHLC (5.37%). In terms of maximum drawdown, FHLC dropped -28.76% vs FETH's -67.94%.

Which ETF is better, FHLC or FETH?

On 1-year performance, FHLC leads with 24.09% vs -41.37% for FETH. On fees, FHLC is cheaper at 0.08% per year. On volatility, FHLC has been the lower-risk option at 5.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FHLC or FETH?

Over the 1-year period, FHLC has performed better with a 24.09% return vs -41.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FHLC or FETH?

FHLC is cheaper with a 0.08% expense ratio, compared with 0.25% for FETH.

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

FHLC has the higher dividend yield at 1.30%, compared with 0.00% for FETH.

What is the main difference between FHLC and FETH?

FHLC is categorized as Health & Biotech Equities, while FETH is Cryptocurrency. FHLC tracks MSCI USA IMI Health Care Index, while FETH tracks Fidelity Ethereum Reference Rate Index. Their fees differ too: 0.08% for FHLC and 0.25% for FETH.

Which has better risk-adjusted returns?

FHLC currently has the higher Sharpe Ratio (1.58 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.