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ETH vs QETH

Grayscale Ethereum Mini Trust ETF

ETHANYSE Arca

Invesco Galaxy Ethereum ETF

QETHCCboe

Overlap

Expense ratio

ETH −0.10pt a year

ETH0.15%QETH0.25%

Avg volume · 30D

ETH 76.0×the volume

ETH2.69MQETH35.3K

ETH vs QETH Performance

Nov 7, 2025 – Nov 9, 2026

−37.7%ETH−38.8%QETH

Nov 7, 2025 to Nov 9, 2026. ETH −37.7%. QETH −38.8%. Use the arrow keys to read each point.−50%−30%−20%−10%0%Nov 2025May 2026Nov 2026
Expense ratio
ETH 0.15%, better
QETH 0.25%
Fund size
ETH $1.95B
QETH $19M
1Y total return
ETH −37.7%, better
QETH −38.8%
Holdings
ETH 1
QETH 1
Avg volume (30D)
ETH 2.69M sh, better
QETH 35.3K sh
NAV per share
ETH $20.29
QETH $22.13
52W range

ETF.net Grade

ETH: Cost 88, Risk 51, Mission 100, Tradability 84, Holdings not scored, Durability 62. QETH: Cost 30, Risk 39, Mission 100, Tradability 43, Holdings not scored, Durability 43.
Pillar letters and Scores for ETH, QETH, with each pillar’s weight
PillarETHQETH
Cost30% weightA88HigherD30
Mission25% weightA100A100
Risk15% weightC51HigherD39
Tradability15% weightA84HigherC43
Holdings10% weightNot scoredNot scored
Durability5% weightB62HigherC43

Rank among Spot Ether funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ETH and QETH are both graded against the same 11 Spot Ether funds, so their Grades compare head to head.

Spot Ether⁠

Category · 11 funds
See all 11 ›

ETH ranks 1st and QETH 9th of 11 funds in the Spot Ether Category.

  1. Rank 1AETHGrayscale Ethereum Mini Trust ETFScore 82
  2. Rank 2AMSSEMorgan Stanley Ethereum TrustScore 77
  3. Rank 7BFETHFidelity Ethereum FundScore 59
  4. Rank 9CQETHInvesco Galaxy Ethereum ETFScore 53
  5. Rank 10CETHEGrayscale Ethereum Staking ETFScore 52

Our read on each fund

ETF.net Research

ETHAGrayscale Ethereum Mini Trust ETF

QETHCInvesco Galaxy Ethereum ETF

In short

ETH The cheap seat in spot ether. A grantor trust that does one thing (hold ether, track its index price) for 0.15% a year, well under the going rate for the category, from a 2024 launch class that is still finding its pecking order.

QETH Invesco paired with crypto specialist Galaxy for a no-frills spot ether trust: it holds the coin and marks it against the Lukka Prime reference rate. True to its mandate, priced at the category median, smaller than the field's heavyweights.

Stated mandate

ETH The Trust passively seeks to have Shares, measured by Ether per Share, reflect the value of its Ether holdings using the Index Price, after expenses and other liabilities.

QETH The Trust seeks to reflect the performance of ether’s spot price, measured using the Lukka Prime Ethereum Reference Rate.

Why people hold it

  • ETH 0.15% a year, versus 0.25% for the typical spot-ether fund. Among funds tracking the same reference, only EZET lists less at 0.00%.
  • The mandate is narrow and it is honored: hold ether, reflect the Index Price after expenses. One of the tightest implementations in its spot-ether peer group.
  • Assets run into the billions and shares trade actively, which puts it among the easier names to get into and out of in a young category.
  • QETH One job, tightly defined: hold ether and reflect its spot price via the Lukka Prime Ethereum Reference Rate. One of the closest mandate matches in the spot ether group.invesco.com
  • At 0.25% it sits right at the median fee for spot ether funds, the same sticker as Fidelity's FETH and BlackRock's ETHA.
  • Ether exposure through a brokerage account. It's a grantor trust holding the coin itself, so no exchange logins, wallets or private keys on your end.invesco.com

Worth knowing

  • ETH This is spot ether, undiluted. Price swings are large in both directions and the trust is built to pass them straight through, not to cushion them.
  • No distributions. Whatever happens here comes from ether's price, less the 0.15% fee, with nothing paid out along the way.
  • Launched in 2024, so the history is thin and our risk read leans on roughly a year of data rather than a full market cycle.
  • QETH One of the smaller, less-traded names in a ten-fund cohort. Thinner volume can mean wider spreads and more price impact on bigger orders.
  • Several rivals tracking the same thing list lower fees, including Grayscale's mini trust ETH at 0.15%.
  • Straight ether price exposure with no distributions, and a track record that only starts at the 2024 launch.

Full ETH profile⁠

Full QETH profile⁠

ETH vs QETH Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ETH vs QETH Cost

Overpaying QETH vs ETH

$2,022

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ETH 0.15%

    $3,137

  • QETH 0.25%

    $5,159

$10,000
30 years

Cost over time

  • ETH 0.15%
  • QETH 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530QETH $5,159ETH $3,137

Year by year

YearETHQETHOverpaying
10$274$455$181
20$1,071$1,769$698
30$3,137$5,159$2,022

Expense ratio

  • 0.15%ETH, cheaper
  • 0.25%QETH
  • Middle half of Spot Ether funds
  • Median 0.21%

ETH 2nd cheapest of 11 funds

QETH 7th cheapest of 11 funds

ETH vs QETH Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
ETH No data
QETH None
Last payment
ETH $0.03
QETH No data
Ex-dividend
ETH Nov 3, 2026
QETH No data
Paid on
ETH Nov 4, 2026
QETH No data
Frequency
ETH Monthly
QETH No data

Distribution history

Per share, 2026, same scale for both

ETHMonthly · 3 paymentsAll ETH payments⁠
One bar per payment. 3 payments in 2026 YTD. Sep 3, 2026 $0.03; Oct 5, 2026 $0.04; Nov 3, 2026 $0.03. Use the arrow keys to read each point.$0$0.032026YTD
QETHAll QETH payments⁠

No distribution history available.

ETH vs QETH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ETH 75.5%since Aug 2024QETH 75.3%since Aug 2024
Return per unit of riskSharpe ratio, 3 years
ETH 0.07since Aug 2024QETH 0.06since Aug 2024
Worst fallMax drawdown, 5 years
ETH −67.5%since Jul 2024QETH −67.9%since Jul 2024
Market sensitivityBeta, 5 years
ETH 2.63QETH 2.62

ETH and QETH in the news

All news⁠

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