QETH vs. BTRN

Last updated Aug 5, 2026

QETH (Invesco Galaxy Ethereum ETF) and BTRN (Global X Bitcoin Trend Strategy ETF) are both Cryptocurrency funds. QETH is actively managed, while BTRN is passively managed. Over the past year, QETH returned -49.13% vs -22.57% for BTRN. Their 0.58 correlation means they have sometimes moved together and sometimes differently. QETH charges 0.25%/yr vs 0.95%/yr for BTRN.

Performance

QETH vs. BTRN - Performance Comparison

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

Returns By Period

In the year-to-date period, QETH achieves a -36.96% return, which is significantly lower than BTRN's -10.38% return.

QETH

• 1D: 0.23%
• 1M: 10.30%
• 6M: -18.57%
• YTD: -36.96%
• 1Y: -49.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.83%

BTRN

• 1D: 0.08%
• 1M: 0.18%
• 6M: -9.55%
• YTD: -10.38%
• 1Y: -22.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTRN Global X Bitcoin Trend Strategy ETF	$6.41K	$4.49K	$41.74K
QETH Invesco Galaxy Ethereum ETF	$441.76K	$366.32K	$431.82K

QETH vs. BTRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QETH Invesco Galaxy Ethereum ETF	-36.96%	-11.44%	-5.03%
BTRN Global X Bitcoin Trend Strategy ETF	-10.38%	4.89%	23.31%

Correlation

The correlation between QETH and BTRN is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.58

The correlation between QETH and BTRN has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.

Return for Risk

QETH vs. BTRN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QETH

QETH Risk / Return Rank: 3
QETH Sharpe Ratio Rank: 3
QETH Sortino Ratio Rank: 3
QETH Omega Ratio Rank: 3
QETH Calmar Ratio Rank: 3
QETH Martin Ratio Rank: 4

BTRN

BTRN Risk / Return Rank: 1
BTRN Sharpe Ratio Rank: 0
BTRN Sortino Ratio Rank: 1
BTRN Omega Ratio Rank: 0
BTRN Calmar Ratio Rank: 2
BTRN Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QETH vs. BTRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Ethereum ETF (QETH) and Global X Bitcoin Trend Strategy ETF (BTRN). 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	BTRN	Difference
Sharpe ratio: Return per unit of total volatility	-0.74	-1.37	+0.63
Sortino ratio: Return per unit of downside risk	-0.95	-1.85	+0.90
Omega ratio: Gain probability vs. loss probability	0.89	0.74	+0.15
Calmar ratio: Return relative to maximum drawdown	-0.73	-0.88	+0.15
Martin ratio: Return relative to average drawdown	-1.08	-1.31	+0.24

QETH vs. BTRN - Sharpe Ratio Comparison

The current QETH Sharpe Ratio is -0.74, which is higher than the BTRN Sharpe Ratio of -1.37. The chart below compares the historical Sharpe Ratios of QETH and BTRN, 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. BTRN - Drawdown Comparison

The maximum QETH drawdown since its inception was -67.90%, which is greater than BTRN's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for QETH and BTRN.

Drawdown Indicators

	QETH	BTRN	Difference
Max Drawdown Largest peak-to-trough decline	-67.90%	-36.97%	-30.93%
Max Drawdown (1Y) Largest decline over 1 year	-67.90%	-25.73%	-42.17%
Current Drawdown Current decline from peak	-61.38%	-26.19%	-35.19%
Average Drawdown Average peak-to-trough decline	-35.37%	-15.20%	-20.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.70%	17.20%	+28.50%

Volatility

QETH vs. BTRN - Volatility Comparison

Invesco Galaxy Ethereum ETF (QETH) has a higher volatility of 11.18% compared to Global X Bitcoin Trend Strategy ETF (BTRN) at 2.68%. This indicates that QETH's price experiences larger fluctuations and is considered to be riskier than BTRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QETH	BTRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.18%	2.68%	+8.50%
Volatility (6M) Calculated over the trailing 6-month period	43.43%	9.75%	+33.68%
Volatility (1Y) Calculated over the trailing 1-year period	66.86%	16.62%	+50.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.09%	29.91%	+41.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.09%	29.91%	+41.18%

QETH vs. BTRN - Expense Ratio Comparison

QETH has a 0.25% expense ratio, which is lower than BTRN's 0.95% expense ratio.

Dividends

QETH vs. BTRN - Dividend Comparison

QETH has not paid dividends to shareholders, while BTRN's dividend yield for the trailing twelve months is around 31.32%.

Position	TTM	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	31.32%	27.76%	2.56%
QETH Invesco Galaxy Ethereum ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QETH and BTRN in my portfolio?

QETH and BTRN have a correlation of 0.60, 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 BTRN?

QETH has higher volatility (11.18%) compared to BTRN (2.68%). In terms of maximum drawdown, QETH dropped -67.90% vs BTRN's -36.97%.

Which ETF is better, QETH or BTRN?

On 1-year performance, BTRN leads with -22.57% vs -49.13% for QETH. On fees, QETH is cheaper at 0.25% per year. On volatility, BTRN has been the lower-risk option at 2.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QETH or BTRN?

Over the 1-year period, BTRN has performed better with a -22.57% return vs -49.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QETH or BTRN?

QETH is cheaper with a 0.25% expense ratio, compared with 0.95% for BTRN.

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

BTRN has the higher dividend yield at 31.32%, compared with 0.00% for QETH.

What is the main difference between QETH and BTRN?

They also come from different issuers: Invesco and Global X. Their fees differ too: 0.25% for QETH and 0.95% for BTRN.

Which has better risk-adjusted returns?

QETH currently has the higher Sharpe Ratio (-0.74 vs -1.37), 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.