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EZET vs MSSE

Franklin Ethereum ETF

EZETBCboe

Morgan Stanley Ethereum Trust

MSSEANYSE Arca

Overlap

Expense ratio

MSSE −0.05pt a year

EZET0.19%MSSE0.14%

Avg volume · 30D

MSSE 2.9×the volume

EZET47.3KMSSE137K

EZET vs MSSE Performance

Jul 31, 2026 – Oct 30, 2026

+19.7%EZET+19.9%MSSE

Jul 31, 2026 to Oct 30, 2026. EZET +19.7%. MSSE +19.9%. Use the arrow keys to read each point.0%30%40%50%Jul 2026Sep 2026Oct 2026
Expense ratio
EZET 0.19%
MSSE 0.14%, better
Fund size
EZET $45M
MSSE $48M
1Y total return
EZET −42.6%
MSSE No data
Holdings
EZET 1
MSSE 1
Avg volume (30D)
EZET 47.3K sh
MSSE 137K sh, better
NAV per share
EZET $16.88
MSSE $24.00
52W range

ETF.net Grade

EZET: Cost 70, Risk 38, Mission 100, Tradability 20, Holdings not scored, Durability 45. MSSE: Cost 96, Risk 95, Mission not scored, Tradability 38, Holdings 100, Durability 31.
Pillar letters and Scores for EZET, MSSE, with each pillar’s weight
PillarEZETMSSE
Cost30% weightA70A96Higher
Mission25% weightA100Not scored
Risk15% weightD38A95Higher
Tradability15% weightF20D38Higher
Holdings10% weightNot scoredA100
Durability5% weightC45HigherD31

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. EZET 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 EZET 5th 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 5BEZETFranklin Ethereum ETFScore 63
  6. Rank 6BTETH21Shares Ethereum ETFScore 62

Our read on each fund

ETF.net Research

EZETBFranklin Ethereum ETF

MSSEAMorgan Stanley Ethereum Trust

In short

EZET One of the nine spot ether funds that opened the category on July 23, 2024. Franklin holds the coin directly at Coinbase Custody and charges 0.19%, mid-pack pricing from a 75-year-old fund house.

MSSE No data

Stated mandate

EZET The fund is described as an actively managed exchange-traded fund.

MSSE No data

Why people hold it

  • EZET Plain plumbing: the trust holds ether itself, custodied by Coinbase, with share value struck off the CME CF Ether-Dollar Reference Rate.franklintempleton.com
  • At 0.19% it sits mid-pack: below ETHV and ETHW at 0.20%, TETH at 0.21% and ETHA at 0.25%, above ETH at 0.15% and MSSE at 0.14%.
  • Day-one vintage. It listed on Cboe BZX with the first US spot ether cohort in July 2024 and sits in the upper half of that peer group.sec.gov

MSSE No data

Worth knowing

  • EZET It trades far less than the category's largest ether funds, which can mean wider spreads and more price impact on bigger orders.
  • No cash yield: the grantor trust simply holds ether and has paid no distributions, so return tracks the ether price less the 0.19% fee.
  • Ether is volatile and the fund does nothing to cushion that; it carries the full move in either direction.

MSSE No data

Full EZET profile⁠

Full MSSE profile⁠

EZET 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.

EZET vs MSSE Cost

Overpaying EZET vs MSSE

$1,020

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

  • EZET 0.19%

    $3,952

  • MSSE 0.14%

    $2,932

$10,000
30 years

Cost over time

  • EZET 0.19%
  • 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$4K051015202530EZET $3,952MSSE $2,932

Year by year

YearEZETMSSEOverpaying
10$347$256$91
20$1,351$1,000$351
30$3,952$2,932$1,020

Expense ratio

  • 0.19%EZET
  • 0.14%MSSE, cheaper
  • Middle half of Spot Ether funds
  • Median 0.21%

MSSE cheapest of 11 funds

EZET 3rd cheapest of 11 funds

EZET vs MSSE Dividends

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

Distribution history

EZETAll EZET payments⁠

No distribution history available.

MSSEAll MSSE payments⁠

No distribution history available.

EZET vs MSSE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
EZET 75.4%since Aug 2024MSSE No data
Return per unit of riskSharpe ratio, 3 years
EZET 0.06since Aug 2024MSSE No data
Worst fallMax drawdown, 5 years
EZET −67.9%since Jul 2024MSSE No data
Market sensitivityBeta, 5 years
EZET 2.54MSSE 0.00

Popular comparisons

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    Expense ratio
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    Category
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