EETH vs. USD

Last updated Jun 4, 2026

EETH (ProShares Ether Strategy ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - EETH is a Cryptocurrency fund actively managed by ProShares, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). EETH is actively managed, while USD is passively managed. Over the past year, EETH returned -34.99% vs 274.62% for USD. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

EETH vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) and ProShares Ultra Semiconductors (USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EETH achieves a -40.33% return, which is significantly lower than USD's 114.00% return.

EETH

• 1D: -5.60%
• 1M: -23.79%
• YTD: -40.33%
• 6M: -43.77%
• 1Y: -34.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USD

• 1D: -1.14%
• 1M: 44.53%
• YTD: 114.00%
• 6M: 111.06%
• 1Y: 274.62%
• 3Y*: 127.67%
• 5Y*: 69.52%
• 10Y*: 62.16%

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

EETH vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EETH ProShares Ether Strategy ETF	-40.33%	-17.19%	33.29%	35.44%
USD ProShares Ultra Semiconductors	114.00%	62.08%	139.64%	37.81%

Correlation

The correlation between EETH and USD is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023	0.37

EETH vs. USD - Sectors Allocation Comparison

Sectors	EETH	USD
Financial Services	16.4%	27.8%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	27.4%
Utilities	-	-

Return for Risk

EETH vs. USD — Risk / Return Rank

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

EETH

EETH Risk / Return Rank: 5
EETH Sharpe Ratio Rank: 4
EETH Sortino Ratio Rank: 5
EETH Omega Ratio Rank: 5
EETH Calmar Ratio Rank: 4
EETH Martin Ratio Rank: 5

USD

USD Risk / Return Rank: 90
USD Sharpe Ratio Rank: 97
USD Sortino Ratio Rank: 83
USD Omega Ratio Rank: 83
USD Calmar Ratio Rank: 95
USD Martin Ratio Rank: 93

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.

EETH vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) and ProShares Ultra Semiconductors (USD). 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.

	EETH	USD	Difference
Sharpe ratio Return per unit of total volatility	-0.51	4.53	-5.04
Sortino ratio Return per unit of downside risk	-0.41	3.81	-4.22
Omega ratio Gain probability vs. loss probability	0.95	1.51	-0.56
Calmar ratio Return relative to maximum drawdown	-0.55	8.70	-9.24
Martin ratio Return relative to average drawdown	-0.90	25.16	-26.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EETH vs. USD - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.51, which is lower than the USD Sharpe Ratio of 4.53. The chart below compares the historical Sharpe Ratios of EETH and USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EETH	USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.51	4.53	-5.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.06	0.49	-0.55

Drawdowns

EETH vs. USD - Drawdown Comparison

The maximum EETH drawdown since its inception was -66.86%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for EETH and USD.

Drawdown Indicators

	EETH	USD	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-88.63%	+21.77%
Max Drawdown (1Y) Largest decline over 1 year	-64.18%	-31.80%	-32.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-64.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-64.18%	-1.14%	-63.04%
Average Drawdown Average peak-to-trough decline	-29.45%	-32.35%	+2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.76%	10.97%	+27.79%

Volatility

EETH vs. USD - Volatility Comparison

The current volatility for ProShares Ether Strategy ETF (EETH) is 9.92%, while ProShares Ultra Semiconductors (USD) has a volatility of 20.36%. This indicates that EETH experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EETH	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.92%	20.36%	-10.44%
Volatility (6M) Calculated over the trailing 6-month period	46.21%	46.39%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	68.81%	61.22%	+7.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.93%	76.55%	-7.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.93%	69.23%	-0.30%

EETH vs. USD - Expense Ratio Comparison

Both EETH and USD have an expense ratio of 0.95%.

Dividends

EETH vs. USD - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 89.04%, more than USD's 0.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EETH ProShares Ether Strategy ETF	89.04%	56.98%	10.82%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.21%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both EETH and USD in my portfolio?

EETH and USD have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EETH or USD?

USD has higher volatility (20.36%) compared to EETH (9.92%). In terms of maximum drawdown, EETH dropped -66.86% vs USD's -88.63%.

Which ETF is better, EETH or USD?

On 1-year performance, USD leads with 274.62% vs -34.99% for EETH. Both ETFs have the same 0.95% expense ratio. On volatility, EETH has been the lower-risk option at 9.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or USD?

Over the 1-year period, USD has performed better with a 274.62% return vs -34.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EETH or USD?

EETH and USD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, EETH or USD?

EETH has the higher dividend yield at 89.04%, compared with 0.21% for USD.

What is the main difference between EETH and USD?

EETH is categorized as Cryptocurrency, while USD is Leveraged Equities.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (4.53 vs -0.51), 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.