ETH-USD vs. SETH

Last updated Apr 4, 2026

Compare and contrast key facts about Ethereum (ETH-USD) and ProShares Short Ether Strategy ETF (SETH).

SETH is a passively managed fund by ProShares that tracks the performance of the Bloomberg Galaxy Ethereum (--100%). It was launched on Nov 1, 2023.

Performance

ETH-USD vs. SETH - Performance Comparison

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

ETH-USD vs. SETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ETH-USD Ethereum	-30.83%	-10.91%	46.00%	26.63%
SETH ProShares Short Ether Strategy ETF	25.10%	-29.41%	-49.59%	-22.80%

Returns By Period

In the year-to-date period, ETH-USD achieves a -30.83% return, which is significantly lower than SETH's 25.10% return.

ETH-USD

• 1D: -0.23%
• 1M: -3.55%
• YTD: -30.83%
• 6M: -54.56%
• 1Y: 12.98%
• 3Y*: 3.12%
• 5Y*: -0.23%
• 10Y*: 69.54%

SETH

• 1D: 3.69%
• 1M: 1.75%
• YTD: 25.10%
• 6M: 70.51%
• 1Y: -47.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

ETH-USD vs. SETH — Risk / Return Rank

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

ETH-USD

ETH-USD Risk / Return Rank: 74
ETH-USD Sharpe Ratio Rank: 86
ETH-USD Sortino Ratio Rank: 84
ETH-USD Omega Ratio Rank: 83
ETH-USD Calmar Ratio Rank: 69
ETH-USD Martin Ratio Rank: 46

SETH

SETH Risk / Return Rank: 4
SETH Sharpe Ratio Rank: 3
SETH Sortino Ratio Rank: 4
SETH Omega Ratio Rank: 5
SETH Calmar Ratio Rank: 2
SETH Martin Ratio Rank: 5

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.

ETH-USD vs. SETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ethereum (ETH-USD) 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.

	ETH-USD	SETH	Difference
Sharpe ratio Return per unit of total volatility	0.17	-0.57	+0.74
Sortino ratio Return per unit of downside risk	0.82	-0.48	+1.31
Omega ratio Gain probability vs. loss probability	1.09	0.94	+0.14
Calmar ratio Return relative to maximum drawdown	-0.93	-0.58	-0.35
Martin ratio Return relative to average drawdown	-1.58	-0.74	-0.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETH-USD vs. SETH - Sharpe Ratio Comparison

The current ETH-USD Sharpe Ratio is 0.17, which is higher than the SETH Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of ETH-USD and SETH, 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

	ETH-USD	SETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	-0.57	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	-0.51	+1.30

Correlation

The correlation between ETH-USD and SETH is -0.70. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Drawdowns

ETH-USD vs. SETH - Drawdown Comparison

The maximum ETH-USD drawdown since its inception was -94.01%, which is greater than SETH's maximum drawdown of -80.74%. Use the drawdown chart below to compare losses from any high point for ETH-USD and SETH.

Drawdown Indicators

	ETH-USD	SETH	Difference
Max Drawdown Largest peak-to-trough decline	-94.01%	-80.74%	-13.27%
Max Drawdown (1Y) Largest decline over 1 year	-62.26%	-75.02%	+12.76%
Max Drawdown (5Y) Largest decline over 5 years	-79.35%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-94.01%	—	—
Current Drawdown Current decline from peak	-57.52%	-65.64%	+8.12%
Average Drawdown Average peak-to-trough decline	-50.82%	-53.86%	+3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.68%	59.11%	-22.43%

Volatility

ETH-USD vs. SETH - Volatility Comparison

The current volatility for Ethereum (ETH-USD) is 16.60%, while ProShares Short Ether Strategy ETF (SETH) has a volatility of 18.03%. This indicates that ETH-USD experiences smaller price fluctuations and is considered to be less risky than SETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETH-USD	SETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.60%	18.03%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	51.47%	53.20%	-1.73%
Volatility (1Y) Calculated over the trailing 1-year period	62.27%	76.06%	-13.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.50%	71.13%	-7.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.85%	71.13%	+7.72%