BETH vs. ^GSPC
BETH (ProShares Bitcoin & Ether Market Cap Weight Strategy ETF) is Cryptocurrency fund actively managed by ProShares, while ^GSPC (S&P 500 Index) is an index. Over the past year, BETH returned -40.77% vs 22.24% for ^GSPC. At a 0.40 correlation, their price movements are largely independent.
Performance
BETH vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, BETH achieves a -32.64% return, which is significantly lower than ^GSPC's 7.60% return.
BETH
- 1D
- -3.37%
- 1M
- -18.22%
- YTD
- -32.64%
- 6M
- -32.87%
- 1Y
- -40.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
^GSPC
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
BETH vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF | -32.64% | -11.20% | 85.03% | 39.34% |
^GSPC S&P 500 Index | 7.60% | 16.39% | 23.31% | 11.24% |
Correlation
The correlation between BETH and ^GSPC is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023 | 0.40 |
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Return for Risk
BETH vs. ^GSPC — Risk / Return Rank
BETH
^GSPC
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BETH | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.61 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.32 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 2.46 | -3.19 |
| Martin ratioReturn relative to average drawdown | -1.24 | 10.92 | -12.15 |
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Drawdowns
BETH vs. ^GSPC - Drawdown Comparison
The maximum BETH drawdown since its inception was -56.03%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for BETH and ^GSPC.
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Drawdown Indicators
| BETH | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.03% | -56.78% | +0.75% |
Max Drawdown (1Y)Largest decline over 1 year | -56.03% | -9.10% | -46.93% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -54.48% | -3.21% | -51.27% |
Average DrawdownAverage peak-to-trough decline | -18.31% | -10.71% | -7.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.01% | 2.04% | +30.97% |
Volatility
BETH vs. ^GSPC - Volatility Comparison
ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) has a higher volatility of 13.75% compared to S&P 500 Index (^GSPC) at 4.89%. 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.
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Volatility by Period
| BETH | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.75% | 4.89% | +8.86% |
Volatility (6M)Calculated over the trailing 6-month period | 36.61% | 9.93% | +26.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.49% | 12.57% | +34.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.18% | 17.00% | +34.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.18% | 18.08% | +33.10% |
Frequently Asked Questions
BETH and ^GSPC have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BETH has higher volatility (13.75%) compared to ^GSPC (4.89%). In terms of maximum drawdown, BETH dropped -56.03% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.78 vs -0.86), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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