FLRG vs. FETH

Last updated Jun 3, 2026

FLRG (Fidelity U.S. Multifactor ETF) and FETH (Fidelity Ethereum Fund) are both exchange-traded funds - FLRG is a Large Cap Growth Equities fund tracking the Fidelity U.S. Multifactor Index, while FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index. Both are passively managed. Over the past year, FLRG returned 19.94% vs -24.84% for FETH. At a 0.45 correlation, their price movements are largely independent. FLRG charges 0.29%/yr vs 0.00%/yr for FETH.

Performance

FLRG vs. FETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity U.S. Multifactor ETF (FLRG) 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, FLRG achieves a 9.53% return, which is significantly higher than FETH's -35.73% return.

FLRG

• 1D: 0.15%
• 1M: 3.94%
• YTD: 9.53%
• 6M: 9.67%
• 1Y: 19.94%
• 3Y*: 19.62%
• 5Y*: 13.32%
• 10Y*: —

FETH

• 1D: -4.61%
• 1M: -17.19%
• YTD: -35.73%
• 6M: -36.03%
• 1Y: -24.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLRG vs. FETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLRG Fidelity U.S. Multifactor ETF	9.53%	13.92%	5.43%
FETH Fidelity Ethereum Fund	-35.73%	-11.37%	-3.61%

Correlation

The correlation between FLRG and FETH is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	0.45

Return for Risk

FLRG vs. FETH — Risk / Return Rank

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

FLRG

FLRG Risk / Return Rank: 59
FLRG Sharpe Ratio Rank: 58
FLRG Sortino Ratio Rank: 59
FLRG Omega Ratio Rank: 57
FLRG Calmar Ratio Rank: 57
FLRG Martin Ratio Rank: 62

FETH

FETH Risk / Return Rank: 6
FETH Sharpe Ratio Rank: 5
FETH Sortino Ratio Rank: 7
FETH Omega Ratio Rank: 7
FETH Calmar Ratio Rank: 5
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.

FLRG vs. FETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Multifactor ETF (FLRG) 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.

	FLRG	FETH	Difference
Sharpe ratio Return per unit of total volatility	1.98	-0.37	+2.34
Sortino ratio Return per unit of downside risk	2.81	-0.11	+2.92
Omega ratio Gain probability vs. loss probability	1.35	0.99	+0.37
Calmar ratio Return relative to maximum drawdown	2.86	-0.42	+3.28
Martin ratio Return relative to average drawdown	11.31	-0.69	+12.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLRG vs. FETH - Sharpe Ratio Comparison

The current FLRG Sharpe Ratio is 1.98, which is higher than the FETH Sharpe Ratio of -0.37. The chart below compares the historical Sharpe Ratios of FLRG 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.

Sharpe Ratios by Period

	FLRG	FETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	-0.37	+2.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	-0.38	+1.43

Drawdowns

FLRG vs. FETH - Drawdown Comparison

The maximum FLRG drawdown since its inception was -19.64%, smaller than the maximum FETH drawdown of -64.00%. Use the drawdown chart below to compare losses from any high point for FLRG and FETH.

Drawdown Indicators

	FLRG	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-19.64%	-64.00%	+44.36%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-61.74%	+54.58%
Max Drawdown (3Y) Largest decline over 3 years	-16.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.64%	—	—
Current Drawdown Current decline from peak	0.00%	-60.68%	+60.68%
Average Drawdown Average peak-to-trough decline	-3.74%	-32.66%	+28.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	37.61%	-35.80%

Volatility

FLRG vs. FETH - Volatility Comparison

The current volatility for Fidelity U.S. Multifactor ETF (FLRG) is 2.44%, while Fidelity Ethereum Fund (FETH) has a volatility of 9.29%. This indicates that FLRG 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

	FLRG	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	9.29%	-6.85%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	46.60%	-39.02%
Volatility (1Y) Calculated over the trailing 1-year period	10.13%	68.28%	-58.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	72.23%	-57.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.02%	72.23%	-57.21%

FLRG vs. FETH - Expense Ratio Comparison

FLRG has a 0.29% expense ratio, which is higher than FETH's 0.00% expense ratio.

Dividends

FLRG vs. FETH - Dividend Comparison

FLRG's dividend yield for the trailing twelve months is around 1.34%, while FETH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
FETH Fidelity Ethereum Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLRG Fidelity U.S. Multifactor ETF	1.34%	1.42%	1.42%	1.39%	1.62%	1.36%	1.47%

Frequently Asked Questions

Can I hold both FLRG and FETH in my portfolio?

FLRG and FETH have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLRG or FETH?

FETH has higher volatility (9.29%) compared to FLRG (2.44%). In terms of maximum drawdown, FLRG dropped -19.64% vs FETH's -64.00%.

Which ETF is better, FLRG or FETH?

On 1-year performance, FLRG leads with 19.94% vs -24.84% for FETH. On fees, FETH is cheaper at 0.00% per year. On volatility, FLRG has been the lower-risk option at 2.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLRG or FETH?

Over the 1-year period, FLRG has performed better with a 19.94% return vs -24.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLRG or FETH?

FETH is cheaper with a 0.00% expense ratio, compared with 0.29% for FLRG.

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

FLRG has the higher dividend yield at 1.34%, compared with 0.00% for FETH.

What is the main difference between FLRG and FETH?

FLRG is categorized as Large Cap Growth Equities, while FETH is Cryptocurrency. FLRG tracks Fidelity U.S. Multifactor Index, while FETH tracks Fidelity Ethereum Reference Rate Index. Their fees differ too: 0.29% for FLRG and 0.00% for FETH.

Which has better risk-adjusted returns?

FLRG currently has the higher Sharpe Ratio (1.98 vs -0.37), 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.