- ISIN
- US74349Y7958
- CUSIP
- 74349Y795
- Issuer
- ProShares
- Inception Date
- Jun 7, 2024
- Category
- Cryptocurrency, Leveraged Cryptocurrency
- Leveraged
- -2x
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Cryptocurrency
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $91M
Share Price Chart
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Performance
ETHD Performance Chart
ProShares UltraShort Ether ETF (ETHD) is up 106.5% since the beginning of the year. ETHD is currently trading at $100 per share.
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Returns By Period
ProShares UltraShort Ether ETF (ETHD) has returned 106.48% so far this year and -32.31% over the past 12 months.
ProShares UltraShort Ether ETF
- 1D
- 22.73%
- 1M
- 108.18%
- YTD
- 106.48%
- 6M
- 102.42%
- 1Y
- -32.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHD Monthly Returns History
Based on dividend-adjusted daily data since Jun 7, 2024, ETHD's average daily return is +0.19%, while the average monthly return is +2.91%. At this rate, an investment would double in approximately 2.0 years.
Historically, 48% of months were positive and 52% were negative. The best month was Feb 2025 with a return of +93.6%, while the worst month was May 2025 at -61.1%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 5 months.
On a daily basis, ETHD closed higher 53% of trading days. The best single day was Aug 5, 2024 with a return of +39.9%, while the worst single day was May 8, 2025 at -35.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 14.12% | 52.16% | -25.33% | -17.21% | 23.72% | 55.46% | 106.48% | ||||||
| 2025 | -4.17% | 93.59% | 31.07% | -14.11% | -61.06% | -2.68% | -59.26% | -38.32% | 2.54% | 2.56% | 40.62% | -6.48% | -72.49% |
| 2024 | 15.81% | -1.70% | 41.06% | -12.23% | -3.68% | -60.32% | 6.61% | -42.57% |
Benchmark Metrics
ProShares UltraShort Ether ETF has an annualized alpha of 540.44%, beta of -6.12, and R2 of 0.29 versus S&P 500 Index. Calculated based on daily prices since June 10, 2024.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -1515.30%), but participation in market rallies was also limited (-147.08%) - a profile typical of counter-cyclical assets.
- Beta of -6.12 may look defensive, but with R2 of 0.29 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.29 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 540.44%
- Beta
- -6.12
- R²
- 0.29
- Upside Capture
- -147.08%
- Downside Capture
- -1,515.30%
Expense Ratio
ETHD has a high expense ratio of 1.01%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
ETHD ranks 10 for risk / return — in the bottom 10% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) and compare them to S&P 500 Index.
| ETHD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.07 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | — | — |
| Martin ratioReturn relative to average drawdown | -0.49 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
ProShares UltraShort Ether ETF provided a 8.47% dividend yield over the last twelve months, with an annual payout of $8.48 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $8.48 | $77.54 | $42.72 |
Dividend yield | 8.47% | 156.62% | 19.15% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares UltraShort Ether ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.15 | $1.51 | $0.01 | $0.02 | $0.03 | $1.72 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $27.32 | $40.59 | $2.88 | $6.65 | $0.00 | $0.01 | $0.04 | $0.04 | $0.01 | $77.54 |
| 2024 | $1.56 | $6.80 | $20.05 | $0.00 | $8.72 | $5.60 | $42.72 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares UltraShort Ether ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares UltraShort Ether ETF was 95.59%, occurring on Oct 6, 2025. The portfolio has not yet recovered.
The current ProShares UltraShort Ether ETF drawdown is 83.87%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 bear market2025 | -95.59%Oct 2025 | 1y 27d | — | 1y 9moSep 2024 - now |
2024 bear market2024 | -30.72%Jul 2024 | 11d | 17d | 28dJul 2024 - Aug 2024 |
2024 bear market2024 | -30.34%Aug 2024 | 15d | 14d | 29dAug 2024 - Sep 2024 |
2024 correction2024 | -10.78%Jul 2024 | 6d | 4d | 10dJun 2024 - Jul 2024 |
2024 pullback2024 | -8.73%Jun 2024 | 0s | 7d | 7dJun 2024 - Jun 2024 |
Drawdown Indicators
| ETHD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.59% | -9.10% | -86.49% |
Max Drawdown (1Y)Largest decline over 1 year | -83.63% | — | — |
Current DrawdownCurrent decline from peak | -83.87% | -2.97% | -80.90% |
Average DrawdownAverage peak-to-trough decline | -66.09% | -1.13% | -64.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.13% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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