Data as of Oct 28, 2026.
MSSE vs QETH: Tracking, Returns & Fees
Over the three months to Oct 28, 2026, MSSE finished 0.09 of a percentage point ahead of Ether and QETH 0.02 behind.
askIQ about this page
askIQ about MSSE and QETH
Net assets: $20m on Oct 27, 2026 for Invesco Galaxy Ethereum ETF, beside Morgan Stanley Ethereum Trust.
MSSE since launch: fund +23.59%, Ether +23.43%, 0.16 pts ahead of Ether. Data to Oct 28, 2026.
Data to Oct 28, 2026.QETH over 1 year: fund −41.58%, Ether −41.34%, 0.23 pts behind Ether. Data to Oct 28, 2026.
Data to Oct 28, 2026.Pair scorecard
MSSE costs 0.11 points a year less.
| Measure | MSSE | QETH |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | −41.6% |
| Against its benchmark | ||
| What it tracks | Ether | Ether |
| Against Ether, same days | 0.2% ahead of | 0.2% behind |
| Cost and size | ||
| Expense ratio | 0.14% | 0.25% |
| Net assets | not read by ETFIQ | $20m |
| Reports to the SEC on | 10-K, not N-PORT | |
| Holdings | ||
| Holdings in common | not published | |
MSSE among the 25 spot crypto trusts listed less than a year
How much of its coin's move it captured, after costs, ranked against 25 spot crypto trusts listed less than a year and 26 spot crypto trusts with a full year. 100 is best. How it is computed
QETH among the 26 spot crypto trusts with a full year
A percentile among the 25 spot crypto trusts listed less than a year. QETH is a percentile among the 26 spot crypto trusts with a full year, a different set, so the two marks are not on one scale. Share of the coin's own price growth a holder kept; funds on different coins are ranked together. All crypto ETFs ranked by it →
Side by side
As of Oct 28, 2026. Source: ETFIQ.
Window by window
| Total return | The coin over the same days | Difference, percentage points | ||||
|---|---|---|---|---|---|---|
| Window | MSSE | QETH | MSSE | QETH | MSSE | QETH |
| 1 month | −11.2% | −11.3% | −11.3% | −11.3% | +0.1 pts | 0.0 pts |
| 3 months | +25.7% | +25.6% | +25.6% | +25.6% | +0.1 pts | 0.0 pts |
| 6 months | – | +6.0% | – | +6.1% | – | −0.2 pts |
| 1 year | – | −41.6% | – | −41.3% | – | −0.2 pts |
| Since each listedNot the same days: MSSE Jul 2026 · QETH Jul 2024 | +23.6% | −32.0% | +23.4% | −31.5% | +0.2 pts | −0.5 pts |
– means no data for this window. Open this comparison in the app →
The same coin, two trusts
MSSE and QETH hold the same asset. Both are 1933 Act trusts holding Ether through a custodian, so neither has a portfolio to compare: the whole of each fund is one line. Over the days each has traded, MSSE finished 0.16 of a percentage point ahead of Ether and QETH 0.23 of a percentage point behind, but the two windows are not the same days, so neither number is set against the other here. That gap is the fee, the custody, the creation and redemption friction and the market’s pricing of the shares, compounded into one number. QETH has 735 more days of record than MSSE, and a longer record is a longer window over which a cost can show itself.
No client brief for this pair: ETFIQ prints no one-year total return for MSSE and no net assets for MSSE.
MSSE’s own filings say it does (424B3, Jul 23, 2026). It charges 0.14% and finished only −0.2% behind Ether, so staking covered about 0.3% of that fee over these days.
MSSE holds Ether through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since launch to Oct 28, 2026, Ether moved +23.4% and MSSE returned +23.6%. That leaves it 0.16 of a percentage point ahead. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks, and whatever the market paid for the shares rather than for the coin, all of it together. It is the only number on this page the sponsor does not publish itself. MSSE charges 0.14% a year and finished 0.2% ahead of Ether, which a fee cannot do on its own. Ether is a proof of stake chain, so a fund holding it can stake. A spot trust is not a registered investment company. It files a 10-K rather than an N-PORT, and its holding is one line: the Ether it custodies.
QETH
QETH holds Ether through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the year to Oct 28, 2026, Ether moved −41.3% and QETH returned −41.6%. That leaves it 0.23 of a percentage point behind. QETH charges 0.25% a year and finished 0.2% behind Ether, so the fee is almost the whole of the difference. QETH’s own filings say it does not (10-K, Mar 2, 2026).
Questions people ask
- Which tracked Ether more closely, MSSE or QETH?
- Over the days each has traded, MSSE finished 0.16 of a percentage point ahead of Ether and QETH 0.23 of a percentage point behind. Those are not set against each other here, because the two windows are not the same days, so neither is nearer its coin than the other on this page. Each difference carries the fee, the custody cost, the friction of creating and redeeming shares in blocks and whatever the market paid for the shares rather than for the coin.
- Do MSSE or QETH pay a staking yield?
- Ether is a proof of stake chain, so staking is possible. Whether either trust stakes, and what the sponsor keeps of it, is a term in its own filings and is read from those rather than assumed.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, MSSE against QETH, data as of Oct 28, 2026. https://etfiq.com/compare/crypto/msse-vs-qeth
ETFIQ. (Oct 28, 2026). MSSE against QETH. Retrieved from https://etfiq.com/compare/crypto/msse-vs-qeth
[MSSE against QETH (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/crypto/msse-vs-qeth)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.