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FETH vs MSSE

Fidelity Ethereum Fund

FETHBCboe

Morgan Stanley Ethereum Trust

MSSEANYSE Arca

Overlap

Expense ratio

MSSE −0.11pt a year

FETH0.25%MSSE0.14%

Avg volume · 30D

FETH 14.2×the volume

FETH1.94MMSSE137K

FETH vs MSSE Performance

Jul 31, 2026 – Oct 30, 2026

+19.6%FETH+19.9%MSSE

Jul 31, 2026 to Oct 30, 2026. FETH +19.6%. MSSE +19.9%. Use the arrow keys to read each point.0%30%40%50%Jul 2026Sep 2026Oct 2026
Expense ratio
FETH 0.25%
MSSE 0.14%, better
Fund size
FETH $1.59B
MSSE $48M
1Y total return
FETH −42.7%
MSSE No data
Holdings
FETH 2
MSSE 1
Avg volume (30D)
FETH 1.94M sh, better
MSSE 137K sh
NAV per share
FETH $22.19
MSSE $24.00
52W range

ETF.net Grade

FETH: Cost 30, Risk 38, Mission 100, Tradability 70, Holdings not scored, Durability 67. MSSE: Cost 96, Risk 95, Mission not scored, Tradability 38, Holdings 100, Durability 31.
Pillar letters and Scores for FETH, MSSE, with each pillar’s weight
PillarFETHMSSE
Cost30% weightD30A96Higher
Mission25% weightA100Not scored
Risk15% weightD38A95Higher
Tradability15% weightA70HigherD38
Holdings10% weightNot scoredA100
Durability5% weightB67HigherD31

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. FETH 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 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 6BTETH21Shares Ethereum ETFScore 62
  5. Rank 7BFETHFidelity Ethereum FundScore 59
  6. Rank 8BETHAiShares Ethereum Trust ETFScore 58

Our read on each fund

ETF.net Research

FETHBFidelity Ethereum Fund

MSSEAMorgan Stanley Ethereum Trust

In short

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.

MSSE No data

Stated mandate

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.

MSSE No data

Why people hold it

  • 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.

MSSE No data

Worth knowing

  • 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

MSSE No data

Full FETH profile⁠

Full MSSE profile⁠

FETH 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.

FETH vs MSSE Cost

Overpaying FETH vs MSSE

$2,227

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

  • FETH 0.25%

    $5,159

  • MSSE 0.14%

    $2,932

$10,000
30 years

Cost over time

  • FETH 0.25%
  • MSSE 0.14%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530FETH $5,159MSSE $2,932

Year by year

YearFETHMSSEOverpaying
10$455$256$199
20$1,769$1,000$769
30$5,159$2,932$2,227

Expense ratio

  • 0.25%FETH
  • 0.14%MSSE, cheaper
  • Middle half of Spot Ether funds
  • Median 0.21%

MSSE cheapest of 11 funds

FETH 7th cheapest of 11 funds

FETH vs MSSE Dividends

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

Distribution history

FETHAll FETH payments⁠

No distribution history available.

MSSEAll MSSE payments⁠

No distribution history available.

FETH vs MSSE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

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

FETH and MSSE in the news

All news⁠

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