Skip to content
etf.net

ETHV vs QETH

VanEck Ethereum ETF

ETHVBCboe

Invesco Galaxy Ethereum ETF

QETHCCboe

Overlap

0.0%by weight

Expense ratio

ETHV −0.05pt a year

ETHV0.20%QETH0.25%

Avg volume · 30D

ETHV 1.2×the volume

ETHV43.7KQETH35.3K

ETHV vs QETH Performance

Nov 7, 2025 – Nov 9, 2026

−38.8%ETHV−38.8%QETH

Nov 7, 2025 to Nov 9, 2026. ETHV −38.8%. QETH −38.8%. Use the arrow keys to read each point.−30%−20%−10%0%Nov 2025May 2026Nov 2026
Expense ratio
ETHV 0.20%, better
QETH 0.25%
Fund size
ETHV $101M
QETH $19M
1Y total return
ETHV −38.8%
QETH −38.8%
Holdings
ETHV 1
QETH 1
Avg volume (30D)
ETHV 43.7K sh, better
QETH 35.3K sh
NAV per share
ETHV $32.56
QETH $22.13
52W range

ETF.net Grade

ETHV: Cost 70, Risk 39, Mission 100, Tradability 43, Holdings not scored, Durability 61. QETH: Cost 30, Risk 39, Mission 100, Tradability 43, Holdings not scored, Durability 43.
Pillar letters and Scores for ETHV, QETH, with each pillar’s weight
PillarETHVQETH
Cost30% weightA70HigherD30
Mission25% weightA100A100
Risk15% weightD39D39
Tradability15% weightC43C43
Holdings10% weightNot scoredNot scored
Durability5% weightB61HigherC43

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 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 ›

ETHV ranks 3rd 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 3BETHVVanEck Ethereum ETFScore 68
  4. Rank 4BETHWBitwise Ethereum ETFScore 66
  5. Rank 7BFETHFidelity Ethereum FundScore 59
  6. Rank 9CQETHInvesco Galaxy Ethereum ETFScore 53
  7. Rank 10CETHEGrayscale Ethereum Staking ETFScore 52

Our read on each fund

ETF.net Research

ETHVBVanEck Ethereum ETF

QETHCInvesco Galaxy Ethereum ETF

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.

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

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

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

  • 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.
  • 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

  • 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.
  • 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 ETHV profile⁠

Full QETH profile⁠

ETHV vs QETH Holdings

How ETHV and QETH differ

Overlap by weight

0.0%

Level by level

  • Holdings0 in both0.0%
  • Asset classAlternatives100%

Sector

No Sector split for ETHV and QETH.

Country, concentration and asset class

Country by domicile

No country split for QETH.

Concentration

Weight in the 10 largest Holdings

  • ETHV100.0%
  • QETH100.0%

Securities held

  • ETHV1
  • QETH1

Asset class

ETHV
Alternatives
QETH
Alternatives

Holdings

  • Only in ETHV1
  • In both0
  • Only in QETH1

Only in ETHV

1 security, 100% of ETHV by weight

  • Ether100.00%

Only in QETH

1 security, 100% of QETH by weight

  • Physical Ether100.00%

Weight gaps

ETHV and QETH share no securities.

All 1 ETHV holdings⁠All 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.

ETHV vs QETH Cost

Overpaying QETH vs ETHV

$1,004

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

  • ETHV 0.20%

    $4,155

  • QETH 0.25%

    $5,159

$10,000
30 years

Cost over time

  • ETHV 0.20%
  • 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 $5,159ETHV $4,155

Year by year

YearETHVQETHOverpaying
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%QETH
  • Middle half of Spot Ether funds
  • Median 0.21%

ETHV 4th cheapest of 11 funds

QETH 7th cheapest of 11 funds

ETHV vs QETH Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
ETHV None
QETH None

Distribution history

ETHVAll ETHV payments⁠

No distribution history available.

QETHAll QETH payments⁠

No distribution history available.

ETHV vs QETH 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 2024QETH 75.3%since Aug 2024
Return per unit of riskSharpe ratio, 3 years
ETHV 0.06since Aug 2024QETH 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 2024QETH −67.9%since Jul 2024Same figure. Both funds show the same value, so neither comes out ahead.
Market sensitivityBeta, 5 years
ETHV 2.63QETH 2.62

Popular comparisons

  • ETHVBvsETHA

    VanEck Ethereum ETF · Grayscale Ethereum Mini Trust ETF

    Expense ratio
    0.20% · 0.15%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QETHCvsETHA

    Invesco Galaxy Ethereum ETF · Grayscale Ethereum Mini Trust ETF

    Expense ratio
    0.25% · 0.15%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ETHVBvsMSSEA

    VanEck Ethereum ETF · Morgan Stanley Ethereum Trust

    Expense ratio
    0.20% · 0.14%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QETHCvsMSSEA

    Invesco Galaxy Ethereum ETF · Morgan Stanley Ethereum Trust

    Expense ratio
    0.25% · 0.14%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ETHVBvsETHWB

    VanEck Ethereum ETF · Bitwise Ethereum ETF

    Expense ratio
    0.20% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QETHCvsETHWB

    Invesco Galaxy Ethereum ETF · Bitwise Ethereum ETF

    Expense ratio
    0.25% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.