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 -47.15% 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 investments are quite close, with QETH having a -36.96% return and ETH-USD slightly higher at -35.67%.
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
- 2.15%
- 1M
- 6.12%
- 6M
- -10.96%
- YTD
- -35.67%
- 1Y
- -47.15%
- 3Y*
- 1.46%
- 5Y*
- -7.98%
- 10Y*
- 67.48%
- ALL TIME*
- 79.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ETH-USD Ethereum | $16.89T | $17.91T | $24.56T |
| $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 | -35.67% | -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 | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.91 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.70 | -0.03 |
| Martin ratioReturn relative to average drawdown | -1.08 | -1.03 | -0.05 |
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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% | -60.50% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -35.37% | -51.05% | +15.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.70% | 35.24% | +10.46% |
Volatility
QETH vs. ETH-USD - Volatility Comparison
The current volatility for Invesco Galaxy Ethereum ETF (QETH) is 11.18%, while Ethereum (ETH-USD) has a volatility of 11.89%. This indicates that QETH experiences smaller price fluctuations and is considered to be less risky 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 | 11.18% | 11.89% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 43.43% | 43.20% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.86% | 54.39% | +12.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.09% | 58.40% | +12.69% |
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 (11.89%) compared to QETH (11.18%). In terms of maximum drawdown, QETH dropped -67.90% vs ETH-USD's -94.01%.
ETH-USD currently has the higher Sharpe Ratio (-0.72 vs -0.74), 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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