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ETHV vs FETH

VanEck Ethereum ETF

ETHVBCboe

Fidelity Ethereum Fund

FETHBCboe

Overlap

Expense ratio

ETHV −0.05pt a year

ETHV0.20%FETH0.25%

Avg volume · 30D

FETH 44.9×the volume

ETHV43.3KFETH1.94M

ETHV vs FETH Performance

Oct 31, 2025 – Oct 30, 2026

−42.6%ETHV−42.7%FETH

Oct 31, 2025 to Oct 30, 2026. ETHV −42.6%. FETH −42.7%. Use the arrow keys to read each point.−60%−30%−20%−10%0%Oct 2025Apr 2026Oct 2026
Expense ratio
ETHV 0.20%, better
FETH 0.25%
Fund size
ETHV $101M
FETH $1.59B
1Y total return
ETHV −42.6%, better
FETH −42.7%
Holdings
ETHV 1
FETH 2
Avg volume (30D)
ETHV 43.3K sh
FETH 1.94M sh, better
NAV per share
ETHV $32.56
FETH $22.19
52W range

ETF.net Grade

ETHV: Cost 70, Risk 38, Mission 100, Tradability 41, Holdings not scored, Durability 61. FETH: Cost 30, Risk 38, Mission 100, Tradability 70, Holdings not scored, Durability 67.
Pillar letters and Scores for ETHV, FETH, with each pillar’s weight
PillarETHVFETH
Cost30% weightA70HigherD30
Mission25% weightA100A100
Risk15% weightD38D38
Tradability15% weightC41A70Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB61B67Higher

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. ETHV and FETH 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 ›

ETHV ranks 3rd and FETH 7th of 11 funds in the Spot Ether Category.

  1. Rank 1AETHGrayscale Ethereum Mini Trust ETFScore 83
  2. Rank 2AMSSEMorgan Stanley Ethereum TrustScore 77
  3. Rank 3BETHVVanEck Ethereum ETFScore 67
  4. Rank 4BETHWBitwise Ethereum ETFScore 66
  5. Rank 6BTETH21Shares Ethereum ETFScore 62
  6. Rank 7BFETHFidelity Ethereum FundScore 59
  7. Rank 8BETHAiShares Ethereum Trust ETFScore 58

Our read on each fund

ETF.net Research

ETHVBVanEck Ethereum ETF

FETHBFidelity Ethereum Fund

In short

ETHV A plain wrapper for spot ether: no overlay, no side strategy, just the coin's price minus a fee that undercuts the typical spot-ether fund. Part of the 2024 class that first brought ether into ordinary brokerage accounts.

FETH Fidelity's spot ether fund keeps the coins in-house: the ether sits with Fidelity Digital Assets, a New York-chartered trust company, instead of being farmed out to a third-party custodian like most of the shelf.

Stated mandate

ETHV The Trust passively seeks to track the price of Ether, less its operating expenses, without pursuing a separate investment strategy.

FETH The Trust aims to track ether's performance through the Fidelity Ethereum Reference Rate, after accounting for the Trust's expenses and other liabilities.

Why people hold it

  • ETHV Charges 0.20% a year against a 0.25% median for spot-ether funds. On a pure price tracker, the fee is one of the few levers an issuer actually controls.
  • Mechanically simple: a grantor trust holding ether that passively tracks the coin's price, less expenses, with no separate investment strategy layered on top.vaneck.com
  • Tracking has stayed tight to spot ether, and the fund sits in the upper half of its spot-ether peer group on our review.
  • Launched in 2024 alongside the first US spot-ether ETFs, so it has run through a full cycle of crypto's mood swings rather than arriving after the fact.
  • FETH Fidelity custodies its own fund's ether through Fidelity Digital Assets, chartered by New York regulators since 2019, a setup no other digital-asset ETP issuer had at launch.fidelity.comfidelitydigitalassets.com
  • Plain ether, no derivatives: the trust holds the coin and tracks the Fidelity Ethereum Reference Rate after expenses, and it has stayed very close to that rate.fidelity.com
  • One of the original July 2024 spot ether launches and an actively traded name in the group, which tends to show up as tighter spreads for buyers.

Worth knowing

  • ETHV Ether swings hard, and this tracks it down as faithfully as up. The trust isn't built to pay income, so total return is price movement alone.
  • Trades moderately rather than heavily next to the category's largest funds, which can mean wider spreads, especially away from busy market hours.
  • Same coin, cheaper shelf-mates: ETH lists 0.15% and EZET 0.00%, so price isn't this fund's whole case.
  • FETH The 0.25% sponsor fee sits at the top of this group: Grayscale's ETH charges 0.15% and Bitwise's ETHW 0.20% for the same spot exposure.
  • It is a grantor trust, not a 1940 Act fund, so the usual mutual fund and ETF investor protections do not apply.
  • No distributions here. It is pure price exposure to one volatile asset, and the ride reflects that.fidelity.com

Full ETHV profile⁠

Full FETH profile⁠

ETHV vs FETH 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.

ETHV vs FETH Cost

Overpaying FETH vs ETHV

$1,004

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

  • ETHV 0.20%

    $4,155

  • FETH 0.25%

    $5,159

$10,000
30 years

Cost over time

  • ETHV 0.20%
  • FETH 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530FETH $5,159ETHV $4,155

Year by year

YearETHVFETHOverpaying
10$365$455$90
20$1,421$1,769$348
30$4,155$5,159$1,004

Expense ratio

  • 0.20%ETHV, cheaper
  • 0.25%FETH
  • Middle half of Spot Ether funds
  • Median 0.21%

ETHV 4th cheapest of 11 funds

FETH 7th cheapest of 11 funds

ETHV vs FETH Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
ETHV None
FETH None

Distribution history

ETHVAll ETHV payments⁠

No distribution history available.

FETHAll FETH payments⁠

No distribution history available.

ETHV vs FETH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ETHV 75.4%since Aug 2024FETH 75.4%since Aug 2024Same figure. Both funds show the same value, so neither comes out ahead.
Return per unit of riskSharpe ratio, 3 years
ETHV 0.06since Aug 2024FETH 0.06since Aug 2024Same figure. Both funds show the same value, so neither comes out ahead.
Worst fallMax drawdown, 5 years
ETHV −67.9%since Jul 2024FETH −67.9%since Jul 2024Same figure. Both funds show the same value, so neither comes out ahead.
Market sensitivityBeta, 5 years
ETHV 2.55FETH 2.54

ETHV and FETH in the news

All news⁠

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