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MSSE vs QETH

Morgan Stanley Ethereum Trust

MSSEANYSE Arca

Invesco Galaxy Ethereum ETF

QETHCCboe

Overlap

Expense ratio

MSSE −0.11pt a year

MSSE0.14%QETH0.25%

Avg volume · 30D

MSSE 3.9×the volume

MSSE137KQETH35.3K

MSSE vs QETH Performance

Aug 7, 2026 – Nov 9, 2026

+11.1%MSSE+10.7%QETH

Aug 7, 2026 to Nov 9, 2026. MSSE +11.1%. QETH +10.7%. Use the arrow keys to read each point.0%20%30%40%Aug 2026Sep 2026Nov 2026
Expense ratio
MSSE 0.14%, better
QETH 0.25%
Fund size
MSSE $51M
QETH $19M
1Y total return
MSSE No data
QETH −38.8%
Holdings
MSSE 1
QETH 1
Avg volume (30D)
MSSE 137K sh, better
QETH 35.3K sh
NAV per share
MSSE $23.99
QETH $22.13
52W range

ETF.net Grade

MSSE: Cost 96, Risk 95, Mission not scored, Tradability 37, Holdings 100, Durability 31. QETH: Cost 30, Risk 39, Mission 100, Tradability 43, Holdings not scored, Durability 43.
Pillar letters and Scores for MSSE, QETH, with each pillar’s weight
PillarMSSEQETH
Cost30% weightA96HigherD30
Mission25% weightNot scoredA100
Risk15% weightA95HigherD39
Tradability15% weightD37C43Higher
Holdings10% weightA100Not scored
Durability5% weightD31C43Higher

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. MSSE 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 ›

MSSE ranks 2nd 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 7BFETHFidelity Ethereum FundScore 59
  5. Rank 9CQETHInvesco Galaxy Ethereum ETFScore 53
  6. Rank 10CETHEGrayscale Ethereum Staking ETFScore 52

Our read on each fund

ETF.net Research

MSSEAMorgan Stanley Ethereum Trust

QETHCInvesco Galaxy Ethereum ETF

In short

MSSE No data

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

MSSE No data

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

MSSE No data

  • 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

MSSE No data

  • 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 MSSE profile⁠

Full QETH profile⁠

MSSE vs 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.

MSSE vs QETH Cost

Overpaying QETH vs MSSE

$2,227

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

  • MSSE 0.14%

    $2,932

  • QETH 0.25%

    $5,159

$10,000
30 years

Cost over time

  • MSSE 0.14%
  • 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 $5,159MSSE $2,932

Year by year

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

Expense ratio

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

MSSE cheapest of 11 funds

QETH 7th cheapest of 11 funds

MSSE vs QETH Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
MSSE No data
QETH None
Last payment
MSSE $0.05
QETH No data
Ex-dividend
MSSE Nov 4, 2026
QETH No data
Paid on
MSSE Nov 5, 2026
QETH No data
Frequency
MSSE Irregular
QETH No data

Distribution history

Per share, 2026, same scale for both

MSSEIrregular · 1 paymentAll MSSE payments⁠
One bar per payment. 1 payment in 2026 YTD. Nov 4, 2026 $0.05. Use the arrow keys to read each point.$0$0.052026YTD
QETHAll QETH payments⁠

No distribution history available.

MSSE vs QETH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MSSE No dataQETH 75.3%since Aug 2024
Return per unit of riskSharpe ratio, 3 years
MSSE No dataQETH 0.06since Aug 2024
Worst fallMax drawdown, 5 years
MSSE No dataQETH −67.9%since Jul 2024
Market sensitivityBeta, 5 years
MSSE 0.00QETH 2.62

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