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 -37.03% vs -38.98% for ETH-USD. A 0.69 correlation means they provide meaningful diversification when combined.
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 -35.31% return and ETH-USD slightly lower at -35.46%.
QETH
- 1D
- 2.63%
- 1M
- 5.69%
- 6M
- -43.32%
- YTD
- -35.31%
- 1Y
- -37.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH-USD
- 1D
- 1.27%
- 1M
- 6.67%
- 6M
- -42.93%
- YTD
- -35.46%
- 1Y
- -38.98%
- 3Y*
- -0.15%
- 5Y*
- 0.40%
- 10Y*
- 67.03%
QETH vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QETH Invesco Galaxy Ethereum ETF | -35.31% | -11.44% | -5.03% |
ETH-USD Ethereum | -35.46% | -10.91% | -3.22% |
Correlation
The correlation between QETH and ETH-USD is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.69 |
The correlation between QETH and ETH-USD has been stable across timeframes, ranging from 0.69 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 | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.94 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | -0.58 | +0.03 |
| Martin ratioReturn relative to average drawdown | -0.85 | -0.89 | +0.04 |
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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 | -60.36% | -60.37% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -34.65% | -51.00% | +16.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.39% | 36.69% | +6.70% |
Volatility
QETH vs. ETH-USD - Volatility Comparison
Invesco Galaxy Ethereum ETF (QETH) has a higher volatility of 16.54% compared to Ethereum (ETH-USD) at 13.40%. This indicates that QETH's price experiences larger fluctuations and is considered to be riskier than ETH-USD based on this measure. 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 | 16.54% | 13.40% | +3.14% |
Volatility (6M)Calculated over the trailing 6-month period | 47.42% | 46.58% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.35% | 55.44% | +12.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.84% | 58.72% | +13.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.84% | 76.81% | -4.97% |
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.
QETH has higher volatility (16.54%) compared to ETH-USD (13.40%). In terms of maximum drawdown, QETH dropped -67.90% vs ETH-USD's -94.01%.
QETH currently has the higher Sharpe Ratio (-0.54 vs -0.59), 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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