BSOL vs. SETH

Last updated Jun 4, 2026

BSOL (Bitwise Solana Staking ETF) and SETH (ProShares Short Ether Strategy ETF) are both Cryptocurrency funds - BSOL tracks the Solana (SOL) spot price while SETH tracks the Bloomberg Galaxy Ethereum (--100%). Both are passively managed. At a correlation of -0.90, they often move in opposite directions. BSOL charges 0.20%/yr vs 0.95%/yr for SETH.

Performance

BSOL vs. SETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Solana Staking ETF (BSOL) and ProShares Short Ether Strategy ETF (SETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSOL achieves a -40.79% return, which is significantly lower than SETH's 40.93% return.

BSOL

• 1D: -4.71%
• 1M: -14.67%
• YTD: -40.79%
• 6M: -47.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SETH

• 1D: 5.62%
• 1M: 29.74%
• YTD: 40.93%
• 6M: 46.51%
• 1Y: -1.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSOL vs. SETH - Yearly Performance Comparison

	2026 (YTD)	2025
BSOL Bitwise Solana Staking ETF	-40.79%	-35.81%
SETH ProShares Short Ether Strategy ETF	40.93%	24.66%

Correlation

The correlation between BSOL and SETH is -0.90, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 29, 2025	-0.90

Return for Risk

BSOL vs. SETH — Risk / Return Rank

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

SETH

SETH Risk / Return Rank: 10
SETH Sharpe Ratio Rank: 8
SETH Sortino Ratio Rank: 12
SETH Omega Ratio Rank: 12
SETH Calmar Ratio Rank: 9
SETH Martin Ratio Rank: 9

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.

BSOL vs. SETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Solana Staking ETF (BSOL) and ProShares Short Ether Strategy ETF (SETH). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BSOL	SETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.07	-0.45	-0.63

Drawdowns

BSOL vs. SETH - Drawdown Comparison

The maximum BSOL drawdown since its inception was -62.00%, smaller than the maximum SETH drawdown of -80.74%. Use the drawdown chart below to compare losses from any high point for BSOL and SETH.

Drawdown Indicators

	BSOL	SETH	Difference
Max Drawdown Largest peak-to-trough decline	-62.00%	-80.74%	+18.74%
Max Drawdown (1Y) Largest decline over 1 year	—	-56.01%	—
Current Drawdown Current decline from peak	-62.00%	-61.29%	-0.71%
Average Drawdown Average peak-to-trough decline	-43.66%	-54.79%	+11.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	35.77%	—

Volatility

Volatility by Period

	BSOL	SETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	75.26%	68.54%	+6.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.26%	69.53%	+5.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.26%	69.53%	+5.73%

BSOL vs. SETH - Expense Ratio Comparison

BSOL has a 0.20% expense ratio, which is lower than SETH's 0.95% expense ratio.

Dividends

BSOL vs. SETH - Dividend Comparison

BSOL has not paid dividends to shareholders, while SETH's dividend yield for the trailing twelve months is around 10.91%.

Position	TTM	2025	2024	2023
BSOL Bitwise Solana Staking ETF	0.00%	0.00%	0.00%	0.00%
SETH ProShares Short Ether Strategy ETF	10.91%	7.01%	3.44%	0.38%

Frequently Asked Questions

Can I hold both BSOL and SETH in my portfolio?

BSOL and SETH have a correlation of -0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BSOL or SETH?

On fees, BSOL is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSOL or SETH?

BSOL is cheaper with a 0.20% expense ratio, compared with 0.95% for SETH.

Which ETF pays a higher dividend yield, BSOL or SETH?

SETH has the higher dividend yield at 10.91%, compared with 0.00% for BSOL.

What is the main difference between BSOL and SETH?

BSOL tracks Solana (SOL) spot price, while SETH tracks Bloomberg Galaxy Ethereum (--100%). They also come from different issuers: Bitwise and ProShares. Their fees differ too: 0.20% for BSOL and 0.95% for SETH.