BETH vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and S&P 500 Index (^GSPC).

BETH is an actively managed fund by ProShares. It was launched on Oct 2, 2023.

Performance

BETH vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

BETH vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	-23.96%	-11.20%	85.03%	42.75%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	11.23%

Returns By Period

In the year-to-date period, BETH achieves a -23.96% return, which is significantly lower than ^GSPC's -3.95% return.

BETH

• 1D: 0.78%
• 1M: -0.84%
• YTD: -23.96%
• 6M: -44.92%
• 1Y: -19.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BETH vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BETH

BETH Risk / Return Rank: 6
BETH Sharpe Ratio Rank: 5
BETH Sortino Ratio Rank: 6
BETH Omega Ratio Rank: 7
BETH Calmar Ratio Rank: 7
BETH Martin Ratio Rank: 7

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BETH vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and S&P 500 Index (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BETH	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	-0.40	0.92	-1.32
Sortino ratio Return per unit of downside risk	-0.28	1.41	-1.69
Omega ratio Gain probability vs. loss probability	0.97	1.21	-0.25
Calmar ratio Return relative to maximum drawdown	-0.32	1.41	-1.73
Martin ratio Return relative to average drawdown	-0.67	6.61	-7.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BETH vs. ^GSPC - Sharpe Ratio Comparison

The current BETH Sharpe Ratio is -0.40, which is lower than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of BETH and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BETH	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	0.92	-1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.46	+0.05

Correlation

The correlation between BETH and ^GSPC is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

BETH vs. ^GSPC - Drawdown Comparison

The maximum BETH drawdown since its inception was -52.55%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for BETH and ^GSPC.

Drawdown Indicators

	BETH	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-52.55%	-56.78%	+4.23%
Max Drawdown (1Y) Largest decline over 1 year	-52.55%	-12.14%	-40.41%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-48.62%	-5.78%	-42.84%
Average Drawdown Average peak-to-trough decline	-15.81%	-10.75%	-5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.90%	2.60%	+22.30%

Volatility

BETH vs. ^GSPC - Volatility Comparison

ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) has a higher volatility of 13.77% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that BETH's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETH	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.77%	5.37%	+8.40%
Volatility (6M) Calculated over the trailing 6-month period	39.46%	9.55%	+29.91%
Volatility (1Y) Calculated over the trailing 1-year period	48.58%	18.33%	+30.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.11%	16.90%	+35.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.11%	18.05%	+34.06%