QSOL vs. HECO

Last updated Jun 4, 2026

QSOL (Invesco Galaxy Solana ETF) and HECO (State Street Galaxy Hedged Digital Asset Ecosystem ETF) are both exchange-traded funds - QSOL is a Cryptocurrency fund tracking the Lukka Prime Solana Reference Rate - Benchmark Price Return, while HECO is a Blockchain fund actively managed by State Street. QSOL is passively managed, while HECO is actively managed. A 0.61 correlation means they provide meaningful diversification when combined. QSOL charges 0.25%/yr vs 0.90%/yr for HECO.

Performance

QSOL vs. HECO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Galaxy Solana ETF (QSOL) and State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QSOL achieves a -41.51% return, which is significantly lower than HECO's 71.77% return.

QSOL

• 1D: -4.67%
• 1M: -14.50%
• YTD: -41.51%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HECO

• 1D: -0.95%
• 1M: 33.22%
• YTD: 71.77%
• 6M: 57.04%
• 1Y: 136.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QSOL vs. HECO - Yearly Performance Comparison

	2026 (YTD)	2025
QSOL Invesco Galaxy Solana ETF	-41.51%	-0.92%
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	71.77%	-0.99%

Correlation

The correlation between QSOL and HECO is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025	0.61

Return for Risk

QSOL vs. HECO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HECO

HECO Risk / Return Rank: 89
HECO Sharpe Ratio Rank: 94
HECO Sortino Ratio Rank: 89
HECO Omega Ratio Rank: 84
HECO Calmar Ratio Rank: 93
HECO Martin Ratio Rank: 87

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.

QSOL vs. HECO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Solana ETF (QSOL) and State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QSOL	HECO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.99	1.80	-2.78

Drawdowns

QSOL vs. HECO - Drawdown Comparison

The maximum QSOL drawdown since its inception was -50.82%, which is greater than HECO's maximum drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for QSOL and HECO.

Drawdown Indicators

	QSOL	HECO	Difference
Max Drawdown Largest peak-to-trough decline	-50.82%	-44.59%	-6.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.03%	—
Current Drawdown Current decline from peak	-50.82%	-1.18%	-49.64%
Average Drawdown Average peak-to-trough decline	-31.98%	-11.81%	-20.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.31%	—

Volatility

Volatility by Period

	QSOL	HECO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	29.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	70.59%	37.32%	+33.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.59%	44.93%	+25.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.59%	44.93%	+25.66%

QSOL vs. HECO - Expense Ratio Comparison

QSOL has a 0.25% expense ratio, which is lower than HECO's 0.90% expense ratio.

Dividends

QSOL vs. HECO - Dividend Comparison

QSOL's dividend yield for the trailing twelve months is around 0.20%, while HECO has not paid dividends to shareholders.

Position	TTM	2025	2024
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	0.00%	0.00%	2.61%
QSOL Invesco Galaxy Solana ETF	0.20%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QSOL and HECO in my portfolio?

QSOL and HECO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QSOL or HECO?

On fees, QSOL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QSOL or HECO?

QSOL is cheaper with a 0.25% expense ratio, compared with 0.90% for HECO.

Which ETF pays a higher dividend yield, QSOL or HECO?

QSOL has the higher dividend yield at 0.20%, compared with 0.00% for HECO.

What is the main difference between QSOL and HECO?

QSOL is categorized as Cryptocurrency, while HECO is Blockchain. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for QSOL and 0.90% for HECO.