Behavioural metrics provide a quantitative refinement of classical two-valued behavioural equivalences on systems with quantitative data, such as metric or probabilistic transition systems. In analogy to the linear-time/branching-time spectrum of two-valued behavioural equivalences on transition systems, behavioural metrics vary in granularity. We provide a unifying treatment of spectra of behavioural metrics in the emerging framework of graded monads, working in coalgebraic generality, that is, parametrically in the system type. In the ensuing development of quantitative graded semantics, we introduce algebraic presentations of graded monads on the category of metric spaces. Moreover, we obtain a canonical generic notion of invariant real-valued modal logic, and provide criteria for such logics to be expressive in the sense that logical distance coincides with behavioural distance. We present positive examples based on this criterion, covering both known and new expressiveness results; in particular, we show that expressiveness holds essentially always for Eilenberg-Moore type trace semantics, and we obtain a new expressiveness result for trace semantics of fuzzy transition systems. As a negative result, we show that trace distance on probabilistic metric transition systems does not admit any characteristic real-valued modal logic, even in a more broadly understood sense.
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