ETCO vs. SETH
ETCO (Grayscale Ethereum Covered Call ETF) and SETH (ProShares Short Ether Strategy ETF) are both Cryptocurrency funds. ETCO is actively managed, while SETH is passively managed. Their -0.95 correlation means they have often moved in opposite directions in the past. ETCO charges 0.66%/yr vs 0.95%/yr for SETH.
Performance
ETCO vs. SETH - Performance Comparison
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Returns By Period
In the year-to-date period, ETCO achieves a -34.69% return, which is significantly lower than SETH's 29.72% return.
ETCO
- 1D
- -2.50%
- 1M
- 5.77%
- 6M
- -27.08%
- YTD
- -34.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SETH
- 1D
- 3.07%
- 1M
- -9.89%
- 6M
- 19.58%
- YTD
- 29.72%
- 1Y
- 27.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -31.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $41.84K | $37.58K | $56.92K | |
| $1.13M | $1.17M | $1.89M |
ETCO vs. SETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -34.69% | -26.08% |
SETH ProShares Short Ether Strategy ETF | 29.72% | 32.59% |
Correlation
The correlation between ETCO and SETH is -0.95, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025 | -0.95 |
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Return for Risk
ETCO vs. SETH — Risk / Return Rank
ETCO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SETH
ETCO vs. SETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Covered Call ETF (ETCO) 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.
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.
| ETCO | SETH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.14 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.16 | — |
| Martin ratioReturn relative to average drawdown | — | 2.03 | — |
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Drawdowns
ETCO vs. SETH - Drawdown Comparison
The maximum ETCO drawdown since its inception was -59.43%, smaller than the maximum SETH drawdown of -80.74%. Use the drawdown chart below to compare losses from any high point for ETCO and SETH.
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Drawdown Indicators
| ETCO | SETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.43% | -80.74% | +21.31% |
Max Drawdown (1Y)Largest decline over 1 year | — | -30.96% | — |
Current DrawdownCurrent decline from peak | -55.22% | -64.37% | +9.15% |
Average DrawdownAverage peak-to-trough decline | -38.17% | -55.10% | +16.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 17.67% | — |
Volatility
ETCO vs. SETH - Volatility Comparison
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Volatility by Period
| ETCO | SETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.41% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 45.76% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 50.60% | 67.20% | -16.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.60% | 68.89% | -18.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.60% | 68.89% | -18.29% |
ETCO vs. SETH - Expense Ratio Comparison
ETCO has a 0.66% expense ratio, which is lower than SETH's 0.95% expense ratio.
Dividends
ETCO vs. SETH - Dividend Comparison
ETCO's dividend yield for the trailing twelve months is around 153.50%, more than SETH's 17.20% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | 153.50% | 42.29% | 0.00% | 0.00% |
SETH ProShares Short Ether Strategy ETF | 17.06% | 7.01% | 3.44% | 0.38% |
Frequently Asked Questions
ETCO and SETH have a correlation of -0.95, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETCO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETCO is cheaper with a 0.66% expense ratio, compared with 0.95% for SETH.
ETCO has the higher dividend yield at 153.50%, compared with 17.06% for SETH.
They also come from different issuers: Grayscale and ProShares. Their fees differ too: 0.66% for ETCO and 0.95% for SETH.
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