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ETHV vs MSSE

VanEck Ethereum ETF

ETHVBCboe

Morgan Stanley Ethereum Trust

MSSEANYSE Arca

Overlap

Expense ratio

MSSE −0.06pt a year

ETHV0.20%MSSE0.14%

Avg volume · 30D

MSSE 3.2×the volume

ETHV43.3KMSSE137K

ETHV vs MSSE Performance

Jul 31, 2026 – Oct 30, 2026

+19.7%ETHV+19.9%MSSE

Jul 31, 2026 to Oct 30, 2026. ETHV +19.7%. MSSE +19.9%. Use the arrow keys to read each point.0%30%40%50%Jul 2026Sep 2026Oct 2026
Expense ratio
ETHV 0.20%
MSSE 0.14%, better
Fund size
ETHV $101M
MSSE $48M
1Y total return
ETHV −42.6%
MSSE No data
Holdings
ETHV 1
MSSE 1
Avg volume (30D)
ETHV 43.3K sh
MSSE 137K sh, better
NAV per share
ETHV $32.56
MSSE $24.00
52W range

ETF.net Grade

ETHV: Cost 70, Risk 38, Mission 100, Tradability 41, Holdings not scored, Durability 61. MSSE: Cost 96, Risk 95, Mission not scored, Tradability 38, Holdings 100, Durability 31.
Pillar letters and Scores for ETHV, MSSE, with each pillar’s weight
PillarETHVMSSE
Cost30% weightA70A96Higher
Mission25% weightA100Not scored
Risk15% weightD38A95Higher
Tradability15% weightC41HigherD38
Holdings10% weightNot scoredA100
Durability5% weightB61HigherD31

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 MSSE 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 ›

MSSE ranks 2nd and ETHV 3rd 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

Our read on each fund

ETF.net Research

ETHVBVanEck Ethereum ETF

MSSEAMorgan Stanley Ethereum Trust

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.

MSSE No data

Stated mandate

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

MSSE No data

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.

MSSE No data

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.

MSSE No data

Full ETHV profile⁠

Full MSSE profile⁠

ETHV vs MSSE 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 MSSE Cost

Overpaying ETHV vs MSSE

$1,223

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

  • ETHV 0.20%

    $4,155

  • MSSE 0.14%

    $2,932

$10,000
30 years

Cost over time

  • ETHV 0.20%
  • MSSE 0.14%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530ETHV $4,155MSSE $2,932

Year by year

YearETHVMSSEOverpaying
10$365$256$109
20$1,421$1,000$421
30$4,155$2,932$1,223

Expense ratio

  • 0.20%ETHV
  • 0.14%MSSE, cheaper
  • Middle half of Spot Ether funds
  • Median 0.21%

MSSE cheapest of 11 funds

ETHV 4th cheapest of 11 funds

ETHV vs MSSE Dividends

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

Distribution history

ETHVAll ETHV payments⁠

No distribution history available.

MSSEAll MSSE payments⁠

No distribution history available.

ETHV vs MSSE 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 2024MSSE No data
Return per unit of riskSharpe ratio, 3 years
ETHV 0.06since Aug 2024MSSE No data
Worst fallMax drawdown, 5 years
ETHV −67.9%since Jul 2024MSSE No data
Market sensitivityBeta, 5 years
ETHV 2.55MSSE 0.00

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