DECO vs. ETHD

Last updated Aug 5, 2026

DECO (State Street Galaxy Digital Asset Ecosystem ETF) and ETHD (ProShares UltraShort Ether ETF) are both exchange-traded funds - DECO is a Blockchain fund actively managed by State Street, while ETHD is a Cryptocurrency fund actively managed by ProShares. Both are actively managed. Over the past year, DECO returned 107.22% vs 6.93% for ETHD. Their -0.62 correlation means they have often moved in opposite directions in the past. DECO charges 0.65%/yr vs 1.01%/yr for ETHD.

Performance

DECO vs. ETHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Galaxy Digital Asset Ecosystem ETF (DECO) and ProShares UltraShort Ether ETF (ETHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DECO achieves a 69.59% return, which is significantly higher than ETHD's 28.16% return.

DECO

• 1D: 0.38%
• 1M: 1.45%
• 6M: 52.64%
• YTD: 69.59%
• 1Y: 107.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 83.90%

ETHD

• 1D: -0.69%
• 1M: -21.42%
• 6M: -13.33%
• YTD: 28.16%
• 1Y: 6.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -50.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DECO State Street Galaxy Digital Asset Ecosystem ETF	$78.29K	$85.73K	$119.46K
ETHD ProShares UltraShort Ether ETF	$15.91M	$15.40M	$23.23M

DECO vs. ETHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DECO State Street Galaxy Digital Asset Ecosystem ETF	69.59%	42.48%	31.48%
ETHD ProShares UltraShort Ether ETF	28.16%	-72.49%	-67.83%

Correlation

The correlation between DECO and ETHD is -0.61, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.61
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	-0.62

The correlation between DECO and ETHD has been stable across timeframes, ranging from -0.62 to -0.61 - a consistent structural relationship.

Return for Risk

DECO vs. ETHD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DECO

DECO Risk / Return Rank: 81
DECO Sharpe Ratio Rank: 87
DECO Sortino Ratio Rank: 78
DECO Omega Ratio Rank: 74
DECO Calmar Ratio Rank: 90
DECO Martin Ratio Rank: 78

ETHD

ETHD Risk / Return Rank: 17
ETHD Sharpe Ratio Rank: 11
ETHD Sortino Ratio Rank: 26
ETHD Omega Ratio Rank: 25
ETHD Calmar Ratio Rank: 12
ETHD Martin Ratio Rank: 11

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DECO vs. ETHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Galaxy Digital Asset Ecosystem ETF (DECO) and ProShares UltraShort Ether ETF (ETHD). 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.

	DECO	ETHD	Difference
Sharpe ratio: Return per unit of total volatility	2.29	0.05	+2.24
Sortino ratio: Return per unit of downside risk	2.83	1.04	+1.79
Omega ratio: Gain probability vs. loss probability	1.35	1.13	+0.22
Calmar ratio: Return relative to maximum drawdown	4.21	0.13	+4.09
Martin ratio: Return relative to average drawdown	11.22	0.19	+11.02

DECO vs. ETHD - Sharpe Ratio Comparison

The current DECO Sharpe Ratio is 2.29, which is higher than the ETHD Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of DECO and ETHD, 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

DECO vs. ETHD - Drawdown Comparison

The maximum DECO drawdown since its inception was -47.71%, smaller than the maximum ETHD drawdown of -95.59%. Use the drawdown chart below to compare losses from any high point for DECO and ETHD.

Drawdown Indicators

	DECO	ETHD	Difference
Max Drawdown Largest peak-to-trough decline	-47.71%	-95.59%	+47.88%
Max Drawdown (1Y) Largest decline over 1 year	-25.60%	-55.14%	+29.54%
Current Drawdown Current decline from peak	-7.09%	-89.99%	+82.90%
Average Drawdown Average peak-to-trough decline	-11.22%	-67.60%	+56.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.59%	35.65%	-26.06%

Volatility

DECO vs. ETHD - Volatility Comparison

The current volatility for State Street Galaxy Digital Asset Ecosystem ETF (DECO) is 19.26%, while ProShares UltraShort Ether ETF (ETHD) has a volatility of 22.21%. This indicates that DECO experiences smaller price fluctuations and is considered to be less risky than ETHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DECO	ETHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.26%	22.21%	-2.95%
Volatility (6M) Calculated over the trailing 6-month period	36.67%	88.19%	-51.52%
Volatility (1Y) Calculated over the trailing 1-year period	47.11%	133.41%	-86.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.84%	140.15%	-88.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.84%	140.15%	-88.31%

DECO vs. ETHD - Expense Ratio Comparison

DECO has a 0.65% expense ratio, which is lower than ETHD's 1.01% expense ratio.

Dividends

DECO vs. ETHD - Dividend Comparison

DECO's dividend yield for the trailing twelve months is around 0.68%, less than ETHD's 8.92% yield.

Position	TTM	2025	2024
DECO State Street Galaxy Digital Asset Ecosystem ETF	0.68%	1.16%	1.73%
ETHD ProShares UltraShort Ether ETF	8.92%	156.62%	19.15%

Frequently Asked Questions

Can I hold both DECO and ETHD in my portfolio?

DECO and ETHD have a correlation of -0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DECO or ETHD?

ETHD has higher volatility (22.21%) compared to DECO (19.26%). In terms of maximum drawdown, DECO dropped -47.71% vs ETHD's -95.59%.

Which ETF is better, DECO or ETHD?

On 1-year performance, DECO leads with 107.22% vs 6.93% for ETHD. On fees, DECO is cheaper at 0.65% per year. On volatility, DECO has been the lower-risk option at 19.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DECO or ETHD?

Over the 1-year period, DECO has performed better with a 107.22% return vs 6.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECO or ETHD?

DECO is cheaper with a 0.65% expense ratio, compared with 1.01% for ETHD.

Which ETF pays a higher dividend yield, DECO or ETHD?

ETHD has the higher dividend yield at 8.92%, compared with 0.68% for DECO.

What is the main difference between DECO and ETHD?

DECO is categorized as Blockchain, while ETHD is Cryptocurrency. They also come from different issuers: State Street and ProShares. Their fees differ too: 0.65% for DECO and 1.01% for ETHD.

Which has better risk-adjusted returns?

DECO currently has the higher Sharpe Ratio (2.29 vs 0.05), 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.