BETH vs. BETE

Last updated Jul 14, 2026

BETH (ProShares Bitcoin & Ether Market Cap Weight Strategy ETF) and BETE (Proshares Bitcoin & Ether Equal Weight Strategy ETF) are both Cryptocurrency funds from ProShares. Over the past year, BETH returned -48.65% vs -44.90% for BETE. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.95% expense ratio.

Performance

BETH vs. BETE - 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 Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETH achieves a -32.25% return, which is significantly higher than BETE's -36.27% return.

BETH

• 1D: -2.63%
• 1M: -1.29%
• 6M: -35.06%
• YTD: -32.25%
• 1Y: -48.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BETE

• 1D: -2.05%
• 1M: 1.87%
• 6M: -38.78%
• YTD: -36.27%
• 1Y: -44.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BETH vs. BETE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	-32.25%	-11.20%	85.03%	39.34%
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	-36.27%	-8.17%	66.02%	36.61%

Correlation

The correlation between BETH and BETE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.97

The correlation between BETH and BETE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

BETH vs. BETE — Risk / Return Rank

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

BETH

BETH Risk / Return Rank: 2
BETH Sharpe Ratio Rank: 1
BETH Sortino Ratio Rank: 2
BETH Omega Ratio Rank: 2
BETH Calmar Ratio Rank: 2
BETH Martin Ratio Rank: 2

BETE

BETE Risk / Return Rank: 3
BETE Sharpe Ratio Rank: 3
BETE Sortino Ratio Rank: 3
BETE Omega Ratio Rank: 3
BETE Calmar Ratio Rank: 3
BETE Martin Ratio Rank: 3

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. BETE - 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 Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE). 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	BETE	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	-0.81	-0.21
Sortino ratio: Return per unit of downside risk	-1.57	-1.10	-0.47
Omega ratio: Gain probability vs. loss probability	0.83	0.88	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.85	-0.73	-0.12
Martin ratio: Return relative to average drawdown	-1.38	-1.17	-0.21

BETH vs. BETE - Sharpe Ratio Comparison

The current BETH Sharpe Ratio is -1.03, which is comparable to the BETE Sharpe Ratio of -0.81. The chart below compares the historical Sharpe Ratios of BETH and BETE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETH vs. BETE - Drawdown Comparison

The maximum BETH drawdown since its inception was -57.12%, smaller than the maximum BETE drawdown of -61.75%. Use the drawdown chart below to compare losses from any high point for BETH and BETE.

Drawdown Indicators

	BETH	BETE	Difference
Max Drawdown Largest peak-to-trough decline	-57.12%	-61.75%	+4.63%
Max Drawdown (1Y) Largest decline over 1 year	-57.12%	-61.75%	+4.63%
Current Drawdown Current decline from peak	-54.21%	-58.21%	+4.00%
Average Drawdown Average peak-to-trough decline	-18.99%	-22.79%	+3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.30%	38.42%	-3.12%

Volatility

BETH vs. BETE - Volatility Comparison

The current volatility for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) is 11.98%, while Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) has a volatility of 13.72%. This indicates that BETH experiences smaller price fluctuations and is considered to be less risky than BETE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETH	BETE	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.98%	13.72%	-1.74%
Volatility (6M) Calculated over the trailing 6-month period	36.80%	40.68%	-3.88%
Volatility (1Y) Calculated over the trailing 1-year period	47.57%	55.52%	-7.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.96%	56.34%	-5.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.96%	56.34%	-5.38%

BETH vs. BETE - Expense Ratio Comparison

Both BETH and BETE have an expense ratio of 0.95%.

Dividends

BETH vs. BETE - Dividend Comparison

BETH's dividend yield for the trailing twelve months is around 54.79%, less than BETE's 81.87% yield.

Position	TTM	2025	2024	2023
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	81.87%	68.22%	15.22%	0.78%
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	54.79%	57.68%	19.71%	0.36%

Frequently Asked Questions

Can I hold both BETH and BETE in my portfolio?

With a correlation of 0.98, BETH and BETE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BETH or BETE?

BETE has higher volatility (13.72%) compared to BETH (11.98%). In terms of maximum drawdown, BETH dropped -57.12% vs BETE's -61.75%.

Which ETF is better, BETH or BETE?

On 1-year performance, BETE leads with -44.90% vs -48.65% for BETH. Both ETFs have the same 0.95% expense ratio. On volatility, BETH has been the lower-risk option at 11.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETH or BETE?

Over the 1-year period, BETE has performed better with a -44.90% return vs -48.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETH or BETE?

BETH and BETE have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, BETH or BETE?

BETE has the higher dividend yield at 81.87%, compared with 54.79% for BETH.

Which has better risk-adjusted returns?

BETE currently has the higher Sharpe Ratio (-0.81 vs -1.03), 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.