FPFD vs. FETH

Last updated Jun 24, 2026

FPFD (Fidelity Preferred Securities & Income ETF) and FETH (Fidelity Ethereum Fund) are both exchange-traded funds - FPFD is a Preferred Stock/Convertible Bonds fund actively managed by Fidelity, while FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index. FPFD is actively managed, while FETH is passively managed. Over the past year, FPFD returned 5.33% vs -28.45% for FETH. At a 0.34 correlation, their price movements are largely independent. FPFD charges 0.59%/yr vs 0.25%/yr for FETH.

Performance

FPFD vs. FETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Preferred Securities & Income ETF (FPFD) 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, FPFD achieves a 0.66% return, which is significantly higher than FETH's -44.11% return.

FPFD

• 1D: -0.09%
• 1M: -0.02%
• YTD: 0.66%
• 6M: 0.74%
• 1Y: 5.33%
• 3Y*: 7.75%
• 5Y*: 1.65%
• 10Y*: —

FETH

• 1D: -4.17%
• 1M: -19.46%
• YTD: -44.11%
• 6M: -44.07%
• 1Y: -28.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FPFD vs. FETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FPFD Fidelity Preferred Securities & Income ETF	0.66%	6.46%	1.79%
FETH Fidelity Ethereum Fund	-44.11%	-11.37%	-4.68%

Correlation

The correlation between FPFD and FETH is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.34

Return for Risk

FPFD vs. FETH — Risk / Return Rank

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

FPFD

FPFD Risk / Return Rank: 52
FPFD Sharpe Ratio Rank: 56
FPFD Sortino Ratio Rank: 60
FPFD Omega Ratio Rank: 61
FPFD Calmar Ratio Rank: 41
FPFD Martin Ratio Rank: 44

FETH

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

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.

FPFD vs. FETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Preferred Securities & Income ETF (FPFD) 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.

	FPFD	FETH	Difference
Sharpe ratio: Return per unit of total volatility	1.80	-0.41	+2.21
Sortino ratio: Return per unit of downside risk	2.66	-0.20	+2.86
Omega ratio: Gain probability vs. loss probability	1.35	0.98	+0.37
Calmar ratio: Return relative to maximum drawdown	1.95	-0.42	+2.37
Martin ratio: Return relative to average drawdown	6.84	-0.70	+7.54

FPFD vs. FETH - Sharpe Ratio Comparison

The current FPFD Sharpe Ratio is 1.80, which is higher than the FETH Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of FPFD 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

FPFD vs. FETH - Drawdown Comparison

The maximum FPFD drawdown since its inception was -20.83%, smaller than the maximum FETH drawdown of -67.57%. Use the drawdown chart below to compare losses from any high point for FPFD and FETH.

Drawdown Indicators

	FPFD	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-20.83%	-67.57%	+46.74%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	-67.57%	+64.82%
Max Drawdown (3Y) Largest decline over 3 years	-4.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.83%	—	—
Current Drawdown Current decline from peak	-1.29%	-65.81%	+64.52%
Average Drawdown Average peak-to-trough decline	-6.75%	-33.69%	+26.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	40.48%	-39.70%

Volatility

FPFD vs. FETH - Volatility Comparison

The current volatility for Fidelity Preferred Securities & Income ETF (FPFD) is 0.74%, while Fidelity Ethereum Fund (FETH) has a volatility of 19.78%. This indicates that FPFD 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

	FPFD	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	19.78%	-19.04%
Volatility (6M) Calculated over the trailing 6-month period	2.28%	46.89%	-44.61%
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	69.15%	-66.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.31%	72.38%	-67.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.30%	72.38%	-67.08%

FPFD vs. FETH - Expense Ratio Comparison

FPFD has a 0.59% expense ratio, which is higher than FETH's 0.25% expense ratio.

Dividends

FPFD vs. FETH - Dividend Comparison

FPFD's dividend yield for the trailing twelve months is around 5.15%, while FETH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
FETH Fidelity Ethereum Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FPFD Fidelity Preferred Securities & Income ETF	5.15%	5.04%	4.89%	5.09%	5.22%	1.59%

Frequently Asked Questions

Can I hold both FPFD and FETH in my portfolio?

FPFD and FETH have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPFD or FETH?

FETH has higher volatility (19.78%) compared to FPFD (0.74%). In terms of maximum drawdown, FPFD dropped -20.83% vs FETH's -67.57%.

Which ETF is better, FPFD or FETH?

On 1-year performance, FPFD leads with 5.33% vs -28.45% for FETH. On fees, FETH is cheaper at 0.25% per year. On volatility, FPFD has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPFD or FETH?

Over the 1-year period, FPFD has performed better with a 5.33% return vs -28.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPFD or FETH?

FETH is cheaper with a 0.25% expense ratio, compared with 0.59% for FPFD.

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

FPFD has the higher dividend yield at 5.15%, compared with 0.00% for FETH.

What is the main difference between FPFD and FETH?

FPFD is categorized as Preferred Stock/Convertible Bonds, while FETH is Cryptocurrency. Their fees differ too: 0.59% for FPFD and 0.25% for FETH.

Which has better risk-adjusted returns?

FPFD currently has the higher Sharpe Ratio (1.80 vs -0.41), 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.