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. At a correlation of -0.95, they often move in opposite directions. 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 -34.48% return, which is significantly lower than SETH's 43.11% return.
ETCO
- 1D
- -1.66%
- 1M
- -22.34%
- YTD
- -34.48%
- 6M
- -36.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SETH
- 1D
- 1.55%
- 1M
- 32.48%
- YTD
- 43.11%
- 6M
- 49.04%
- 1Y
- 0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETCO vs. SETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -34.48% | -24.78% |
SETH ProShares Short Ether Strategy ETF | 43.11% | 26.68% |
Correlation
The correlation between ETCO and SETH is -0.95, 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 Sep 5, 2025 | -0.95 |
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Return for Risk
ETCO vs. SETH — Risk / Return Rank
ETCO
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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| ETCO | SETH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.17 | -0.44 | -0.73 |
Drawdowns
ETCO vs. SETH - Drawdown Comparison
The maximum ETCO drawdown since its inception was -56.81%, 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 | -56.81% | -80.74% | +23.93% |
Max Drawdown (1Y)Largest decline over 1 year | — | -56.01% | — |
Current DrawdownCurrent decline from peak | -55.08% | -60.69% | +5.61% |
Average DrawdownAverage peak-to-trough decline | -34.54% | -54.80% | +20.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 35.78% | — |
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 | — | 9.63% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 45.27% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 52.38% | 68.46% | -16.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.38% | 69.49% | -17.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.38% | 69.49% | -17.11% |
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 129.56%, more than SETH's 10.75% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | 129.56% | 42.29% | 0.00% | 0.00% |
SETH ProShares Short Ether Strategy ETF | 10.75% | 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 129.56%, compared with 10.75% 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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