QETH vs. BITC

Last updated Jun 25, 2026

QETH (Invesco Galaxy Ethereum ETF) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, QETH returned -35.24% vs -17.43% for BITC. A 0.53 correlation means they provide meaningful diversification when combined. QETH charges 0.25%/yr vs 0.88%/yr for BITC.

Performance

QETH vs. BITC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Galaxy Ethereum ETF (QETH) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QETH achieves a -46.74% return, which is significantly lower than BITC's -0.66% return.

QETH

• 1D: -4.60%
• 1M: -23.32%
• YTD: -46.74%
• 6M: -46.14%
• 1Y: -35.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITC

• 1D: -4.09%
• 1M: -7.06%
• YTD: -0.66%
• 6M: -0.73%
• 1Y: -17.43%
• 3Y*: 27.19%
• 5Y*: —
• 10Y*: —

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

QETH vs. BITC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QETH Invesco Galaxy Ethereum ETF	-46.74%	-11.44%	-5.03%
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	-0.66%	-20.46%	34.26%

Correlation

The correlation between QETH and BITC is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.53

The correlation between QETH and BITC has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.

Return for Risk

QETH vs. BITC — 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

BITC

BITC Risk / Return Rank: 4
BITC Sharpe Ratio Rank: 4
BITC Sortino Ratio Rank: 4
BITC Omega Ratio Rank: 3
BITC Calmar Ratio Rank: 4
BITC 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.

QETH vs. BITC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Ethereum ETF (QETH) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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	BITC	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	-0.69	+0.17
Sortino ratio: Return per unit of downside risk	-0.41	-0.86	+0.44
Omega ratio: Gain probability vs. loss probability	0.95	0.87	+0.08
Calmar ratio: Return relative to maximum drawdown	-0.52	-0.66	+0.14
Martin ratio: Return relative to average drawdown	-0.87	-0.92	+0.05

QETH vs. BITC - Sharpe Ratio Comparison

The current QETH Sharpe Ratio is -0.51, which is comparable to the BITC Sharpe Ratio of -0.69. The chart below compares the historical Sharpe Ratios of QETH and BITC, 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. BITC - Drawdown Comparison

The maximum QETH drawdown since its inception was -67.51%, which is greater than BITC's maximum drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for QETH and BITC.

Drawdown Indicators

	QETH	BITC	Difference
Max Drawdown Largest peak-to-trough decline	-67.51%	-38.51%	-29.00%
Max Drawdown (1Y) Largest decline over 1 year	-67.51%	-26.51%	-41.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-38.51%	—
Current Drawdown Current decline from peak	-67.36%	-31.73%	-35.63%
Average Drawdown Average peak-to-trough decline	-33.78%	-16.53%	-17.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.63%	19.01%	+21.62%

Volatility

QETH vs. BITC - Volatility Comparison

Invesco Galaxy Ethereum ETF (QETH) has a higher volatility of 19.78% compared to Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) at 5.27%. This indicates that QETH's price experiences larger fluctuations and is considered to be riskier than BITC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QETH	BITC	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.78%	5.27%	+14.51%
Volatility (6M) Calculated over the trailing 6-month period	46.49%	19.46%	+27.03%
Volatility (1Y) Calculated over the trailing 1-year period	69.13%	25.45%	+43.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.39%	46.33%	+26.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.39%	46.33%	+26.06%

QETH vs. BITC - Expense Ratio Comparison

QETH has a 0.25% expense ratio, which is lower than BITC's 0.88% expense ratio.

Dividends

QETH vs. BITC - Dividend Comparison

QETH has not paid dividends to shareholders, while BITC's dividend yield for the trailing twelve months is around 3.38%.

Position	TTM	2025	2024	2023
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.38%	3.36%	42.68%	5.82%
QETH Invesco Galaxy Ethereum ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QETH and BITC in my portfolio?

QETH and BITC have a correlation of 0.47, 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 BITC?

QETH has higher volatility (19.78%) compared to BITC (5.27%). In terms of maximum drawdown, QETH dropped -67.51% vs BITC's -38.51%.

Which ETF is better, QETH or BITC?

On 1-year performance, BITC leads with -17.43% vs -35.24% for QETH. On fees, QETH is cheaper at 0.25% per year. On volatility, BITC has been the lower-risk option at 5.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QETH or BITC?

Over the 1-year period, BITC has performed better with a -17.43% return vs -35.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QETH or BITC?

QETH is cheaper with a 0.25% expense ratio, compared with 0.88% for BITC.

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

BITC has the higher dividend yield at 3.38%, compared with 0.00% for QETH.

What is the main difference between QETH and BITC?

They also come from different issuers: Invesco and Bitwise. Their fees differ too: 0.25% for QETH and 0.88% for BITC.

Which has better risk-adjusted returns?

QETH currently has the higher Sharpe Ratio (-0.51 vs -0.69), 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.