QETH vs. ETH-USD
QETH (Invesco Galaxy Ethereum ETF) is Cryptocurrency fund actively managed by Invesco, while ETH-USD (Ethereum) is a cryptocurrency. Over the past year, QETH returned -49.13% vs -49.94% for ETH-USD. Their 0.68 correlation means they have sometimes moved together and sometimes differently.
Performance
QETH vs. ETH-USD - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with QETH having a -36.96% return and ETH-USD slightly lower at -37.22%.
QETH
- 1D
- 0.23%
- 1M
- 10.30%
- 6M
- -18.57%
- YTD
- -36.96%
- 1Y
- -49.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.83%
ETH-USD
- 1D
- 0.20%
- 1M
- 4.39%
- 6M
- -16.49%
- YTD
- -37.22%
- 1Y
- -49.94%
- 3Y*
- 0.50%
- 5Y*
- -8.02%
- 10Y*
- 67.04%
- ALL TIME*
- 79.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ETH-USD Ethereum | $17.03T | $18.31T | $24.95T |
| $441.76K | $366.32K | $431.82K |
QETH vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QETH Invesco Galaxy Ethereum ETF | -36.96% | -11.44% | -5.03% |
ETH-USD Ethereum | -37.22% | -10.91% | -3.22% |
Correlation
The correlation between QETH and ETH-USD is 0.72, 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. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.68 |
The correlation between QETH and ETH-USD has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.
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Return for Risk
QETH vs. ETH-USD — Risk / Return Rank
QETH
ETH-USD
QETH vs. ETH-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Ethereum ETF (QETH) and Ethereum (ETH-USD). 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 | ETH-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.90 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.74 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.08 | -1.09 | +0.01 |
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Drawdowns
QETH vs. ETH-USD - Drawdown Comparison
The maximum QETH drawdown since its inception was -67.90%, smaller than the maximum ETH-USD drawdown of -94.01%. Use the drawdown chart below to compare losses from any high point for QETH and ETH-USD.
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Drawdown Indicators
| QETH | ETH-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.90% | -94.01% | +26.11% |
Max Drawdown (1Y)Largest decline over 1 year | -67.90% | -67.60% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -67.60% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -79.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -94.01% | — |
Current DrawdownCurrent decline from peak | -61.38% | -61.45% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -35.37% | -51.05% | +15.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.70% | 35.14% | +10.56% |
Volatility
QETH vs. ETH-USD - Volatility Comparison
Invesco Galaxy Ethereum ETF (QETH) and Ethereum (ETH-USD) have volatilities of 11.18% and 11.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QETH | ETH-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.18% | 11.73% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 43.43% | 43.32% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.86% | 54.63% | +12.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.09% | 58.41% | +12.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.09% | 76.00% | -4.91% |
Frequently Asked Questions
QETH and ETH-USD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETH-USD has higher volatility (11.73%) compared to QETH (11.18%). In terms of maximum drawdown, QETH dropped -67.90% vs ETH-USD's -94.01%.
QETH currently has the higher Sharpe Ratio (-0.74 vs -0.76), 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.
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