QETH vs. BFAP

Last updated Jun 5, 2026

QETH (Invesco Galaxy Ethereum ETF) and BFAP (FT Vest Bitcoin Strategy Floor15 ETF - April) are both Cryptocurrency funds. Both are actively managed. Over the past year, QETH returned -32.58% vs -25.05% for BFAP. Their correlation of 0.82 suggests significant overlap in exposure. QETH charges 0.25%/yr vs 0.90%/yr for BFAP.

Performance

QETH vs. BFAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Galaxy Ethereum ETF (QETH) and FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QETH achieves a -40.24% return, which is significantly lower than BFAP's -21.78% return.

QETH

• 1D: -1.34%
• 1M: -25.22%
• YTD: -40.24%
• 6M: -43.56%
• 1Y: -32.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFAP

• 1D: -1.12%
• 1M: -8.52%
• YTD: -21.78%
• 6M: -24.25%
• 1Y: -25.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QETH vs. BFAP - Yearly Performance Comparison

	2026 (YTD)	2025
QETH Invesco Galaxy Ethereum ETF	-40.24%	63.55%
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	-21.78%	8.90%

Correlation

The correlation between QETH and BFAP is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	0.82

The correlation between QETH and BFAP has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

Return for Risk

QETH vs. BFAP — 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: 6
QETH Omega Ratio Rank: 6
QETH Calmar Ratio Rank: 5
QETH Martin Ratio Rank: 5

BFAP

BFAP Risk / Return Rank: 1
BFAP Sharpe Ratio Rank: 1
BFAP Sortino Ratio Rank: 1
BFAP Omega Ratio Rank: 1
BFAP Calmar Ratio Rank: 2
BFAP Martin Ratio Rank: 1

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. BFAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Ethereum ETF (QETH) and FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP). 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.

	QETH	BFAP	Difference
Sharpe ratio: Return per unit of total volatility	-0.48	-1.18	+0.70
Sortino ratio: Return per unit of downside risk	-0.34	-1.62	+1.28
Omega ratio: Gain probability vs. loss probability	0.96	0.80	+0.16
Calmar ratio: Return relative to maximum drawdown	-0.52	-0.78	+0.27
Martin ratio: Return relative to average drawdown	-0.86	-1.47	+0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QETH vs. BFAP - Sharpe Ratio Comparison

The current QETH Sharpe Ratio is -0.48, which is higher than the BFAP Sharpe Ratio of -1.18. The chart below compares the historical Sharpe Ratios of QETH and BFAP, 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

	QETH	BFAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.48	-1.18	+0.70
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	-0.63	+0.21

Drawdowns

QETH vs. BFAP - Drawdown Comparison

The maximum QETH drawdown since its inception was -64.07%, which is greater than BFAP's maximum drawdown of -32.02%. Use the drawdown chart below to compare losses from any high point for QETH and BFAP.

Drawdown Indicators

	QETH	BFAP	Difference
Max Drawdown Largest peak-to-trough decline	-64.07%	-32.02%	-32.05%
Max Drawdown (1Y) Largest decline over 1 year	-63.39%	-32.02%	-31.37%
Current Drawdown Current decline from peak	-63.39%	-32.02%	-31.37%
Average Drawdown Average peak-to-trough decline	-32.76%	-10.84%	-21.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.96%	17.01%	+20.95%

Volatility

QETH vs. BFAP - Volatility Comparison

Invesco Galaxy Ethereum ETF (QETH) has a higher volatility of 9.72% compared to FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) at 3.55%. This indicates that QETH's price experiences larger fluctuations and is considered to be riskier than BFAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QETH	BFAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.72%	3.55%	+6.17%
Volatility (6M) Calculated over the trailing 6-month period	45.42%	17.20%	+28.22%
Volatility (1Y) Calculated over the trailing 1-year period	68.40%	21.27%	+47.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.22%	20.56%	+51.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.22%	20.56%	+51.66%

QETH vs. BFAP - Expense Ratio Comparison

QETH has a 0.25% expense ratio, which is lower than BFAP's 0.90% expense ratio.

Dividends

QETH vs. BFAP - Dividend Comparison

QETH has not paid dividends to shareholders, while BFAP's dividend yield for the trailing twelve months is around 24.25%.

Position	TTM	2025
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	24.25%	18.97%
QETH Invesco Galaxy Ethereum ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both QETH and BFAP in my portfolio?

QETH and BFAP have a correlation of 0.85, 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 BFAP?

QETH has higher volatility (9.72%) compared to BFAP (3.55%). In terms of maximum drawdown, QETH dropped -64.07% vs BFAP's -32.02%.

Which ETF is better, QETH or BFAP?

On 1-year performance, BFAP leads with -25.05% vs -32.58% for QETH. On fees, QETH is cheaper at 0.25% per year. On volatility, BFAP has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QETH or BFAP?

Over the 1-year period, BFAP has performed better with a -25.05% return vs -32.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QETH or BFAP?

QETH is cheaper with a 0.25% expense ratio, compared with 0.90% for BFAP.

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

BFAP has the higher dividend yield at 24.25%, compared with 0.00% for QETH.

What is the main difference between QETH and BFAP?

They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.25% for QETH and 0.90% for BFAP.

Which has better risk-adjusted returns?

QETH currently has the higher Sharpe Ratio (-0.48 vs -1.18), 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.