QETH vs. AVMU

Last updated Jul 16, 2026

QETH (Invesco Galaxy Ethereum ETF) and AVMU (Avantis Core Municipal Fixed Income ETF) are both exchange-traded funds - QETH is a Cryptocurrency fund actively managed by Invesco, while AVMU is a Municipal Bonds fund actively managed by Avantis. Both are actively managed. Over the past year, QETH returned -37.03% vs 7.72% for AVMU. At a 0.06 correlation, their price movements are largely independent. QETH charges 0.25%/yr vs 0.15%/yr for AVMU.

Performance

QETH vs. AVMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Galaxy Ethereum ETF (QETH) and Avantis Core Municipal Fixed Income ETF (AVMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QETH achieves a -35.31% return, which is significantly lower than AVMU's 1.31% return.

QETH

• 1D: 2.63%
• 1M: 5.69%
• 6M: -43.32%
• YTD: -35.31%
• 1Y: -37.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVMU

• 1D: -0.27%
• 1M: -0.47%
• 6M: 0.62%
• YTD: 1.31%
• 1Y: 7.72%
• 3Y*: 3.29%
• 5Y*: 0.73%
• 10Y*: —

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

QETH vs. AVMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QETH Invesco Galaxy Ethereum ETF	-35.31%	-11.44%	-5.03%
AVMU Avantis Core Municipal Fixed Income ETF	1.31%	3.87%	1.17%

Correlation

The correlation between QETH and AVMU is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.06

Return for Risk

QETH vs. AVMU — Risk / Return Rank

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

QETH

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

AVMU

AVMU Risk / Return Rank: 80
AVMU Sharpe Ratio Rank: 90
AVMU Sortino Ratio Rank: 93
AVMU Omega Ratio Rank: 93
AVMU Calmar Ratio Rank: 58
AVMU Martin Ratio Rank: 64

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.

QETH vs. AVMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Ethereum ETF (QETH) and Avantis Core Municipal Fixed Income ETF (AVMU). 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.

	QETH	AVMU	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	2.44	-2.99
Sortino ratio: Return per unit of downside risk	-0.48	3.71	-4.19
Omega ratio: Gain probability vs. loss probability	0.95	1.52	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.55	2.33	-2.88
Martin ratio: Return relative to average drawdown	-0.85	9.29	-10.14

QETH vs. AVMU - Sharpe Ratio Comparison

The current QETH Sharpe Ratio is -0.54, which is lower than the AVMU Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of QETH and AVMU, 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

QETH vs. AVMU - Drawdown Comparison

The maximum QETH drawdown since its inception was -67.90%, which is greater than AVMU's maximum drawdown of -12.41%. Use the drawdown chart below to compare losses from any high point for QETH and AVMU.

Drawdown Indicators

	QETH	AVMU	Difference
Max Drawdown Largest peak-to-trough decline	-67.90%	-12.41%	-55.49%
Max Drawdown (1Y) Largest decline over 1 year	-67.90%	-3.32%	-64.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-12.41%	—
Current Drawdown Current decline from peak	-60.36%	-0.99%	-59.37%
Average Drawdown Average peak-to-trough decline	-34.65%	-3.70%	-30.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.39%	0.84%	+42.55%

Volatility

QETH vs. AVMU - Volatility Comparison

Invesco Galaxy Ethereum ETF (QETH) has a higher volatility of 16.54% compared to Avantis Core Municipal Fixed Income ETF (AVMU) at 0.60%. This indicates that QETH's price experiences larger fluctuations and is considered to be riskier than AVMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QETH	AVMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.54%	0.60%	+15.94%
Volatility (6M) Calculated over the trailing 6-month period	47.42%	2.31%	+45.11%
Volatility (1Y) Calculated over the trailing 1-year period	68.35%	3.17%	+65.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.84%	4.14%	+67.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.84%	3.96%	+67.88%

QETH vs. AVMU - Expense Ratio Comparison

QETH has a 0.25% expense ratio, which is higher than AVMU's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QETH vs. AVMU - Dividend Comparison

QETH has not paid dividends to shareholders, while AVMU's dividend yield for the trailing twelve months is around 3.51%.

Position	TTM	2025	2024	2023	2022	2021
AVMU Avantis Core Municipal Fixed Income ETF	3.51%	3.50%	3.32%	2.50%	1.29%	0.77%
QETH Invesco Galaxy Ethereum ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QETH and AVMU in my portfolio?

QETH and AVMU have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QETH or AVMU?

QETH has higher volatility (16.54%) compared to AVMU (0.60%). In terms of maximum drawdown, QETH dropped -67.90% vs AVMU's -12.41%.

Which ETF is better, QETH or AVMU?

On 1-year performance, AVMU leads with 7.72% vs -37.03% for QETH. On fees, AVMU is cheaper at 0.15% per year. On volatility, AVMU has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QETH or AVMU?

Over the 1-year period, AVMU has performed better with a 7.72% return vs -37.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QETH or AVMU?

AVMU is cheaper with a 0.15% expense ratio, compared with 0.25% for QETH.

Which ETF pays a higher dividend yield, QETH or AVMU?

AVMU has the higher dividend yield at 3.51%, compared with 0.00% for QETH.

What is the main difference between QETH and AVMU?

QETH is categorized as Cryptocurrency, while AVMU is Municipal Bonds. They also come from different issuers: Invesco and Avantis. Their fees differ too: 0.25% for QETH and 0.15% for AVMU.

Which has better risk-adjusted returns?

AVMU currently has the higher Sharpe Ratio (2.44 vs -0.54), 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.