HECO vs. QSOL

Last updated Jun 24, 2026

HECO (State Street Galaxy Hedged Digital Asset Ecosystem ETF) and QSOL (Invesco Galaxy Solana ETF) are both exchange-traded funds - HECO is a Blockchain fund actively managed by State Street, while QSOL is a Cryptocurrency fund tracking the Lukka Prime Solana Reference Rate - Benchmark Price Return. HECO is actively managed, while QSOL is passively managed. A 0.63 correlation means they provide meaningful diversification when combined. HECO charges 0.90%/yr vs 0.25%/yr for QSOL.

Performance

HECO vs. QSOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO) and Invesco Galaxy Solana ETF (QSOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HECO achieves a 72.76% return, which is significantly higher than QSOL's -43.81% return.

HECO

• 1D: -1.40%
• 1M: 12.83%
• YTD: 72.76%
• 6M: 65.53%
• 1Y: 136.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QSOL

• 1D: -5.21%
• 1M: -18.27%
• YTD: -43.81%
• 6M: -44.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HECO vs. QSOL - Yearly Performance Comparison

	2026 (YTD)	2025
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	72.76%	-6.56%
QSOL Invesco Galaxy Solana ETF	-43.81%	-4.28%

Correlation

The correlation between HECO and QSOL is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 15, 2025	0.63

Return for Risk

HECO vs. QSOL — Risk / Return Rank

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

HECO

HECO Risk / Return Rank: 92
HECO Sharpe Ratio Rank: 96
HECO Sortino Ratio Rank: 92
HECO Omega Ratio Rank: 88
HECO Calmar Ratio Rank: 94
HECO Martin Ratio Rank: 89

QSOL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

HECO vs. QSOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO) and Invesco Galaxy Solana ETF (QSOL). 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.

	HECO	QSOL	Difference
Sharpe ratio: Return per unit of total volatility	3.66	—	—
Sortino ratio: Return per unit of downside risk	4.00	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	6.52	—	—
Martin ratio: Return relative to average drawdown	18.64	—	—

Drawdowns

HECO vs. QSOL - Drawdown Comparison

The maximum HECO drawdown since its inception was -44.59%, smaller than the maximum QSOL drawdown of -56.55%. Use the drawdown chart below to compare losses from any high point for HECO and QSOL.

Drawdown Indicators

	HECO	QSOL	Difference
Max Drawdown Largest peak-to-trough decline	-44.59%	-56.55%	+11.96%
Max Drawdown (1Y) Largest decline over 1 year	-21.03%	—	—
Current Drawdown Current decline from peak	-1.40%	-52.76%	+51.36%
Average Drawdown Average peak-to-trough decline	-11.53%	-33.92%	+22.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.35%	—	—

Volatility

Volatility by Period

	HECO	QSOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	28.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	37.49%	72.31%	-34.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.68%	72.31%	-27.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.68%	72.31%	-27.63%

HECO vs. QSOL - Expense Ratio Comparison

HECO has a 0.90% expense ratio, which is higher than QSOL's 0.25% expense ratio.

Dividends

HECO vs. QSOL - Dividend Comparison

HECO has not paid dividends to shareholders, while QSOL's dividend yield for the trailing twelve months is around 0.99%.

Position	TTM	2025	2024
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	0.00%	0.00%	2.61%
QSOL Invesco Galaxy Solana ETF	0.99%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HECO and QSOL in my portfolio?

HECO and QSOL have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HECO or QSOL?

On fees, QSOL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HECO or QSOL?

QSOL is cheaper with a 0.25% expense ratio, compared with 0.90% for HECO.

Which ETF pays a higher dividend yield, HECO or QSOL?

QSOL has the higher dividend yield at 0.99%, compared with 0.00% for HECO.

What is the main difference between HECO and QSOL?

HECO is categorized as Blockchain, while QSOL is Cryptocurrency. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.90% for HECO and 0.25% for QSOL.