ETH vs. ETHD
ETH (Grayscale Ethereum Staking Mini ETF) and ETHD (ProShares UltraShort Ether ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, ETH returned -30.84% vs -42.18% for ETHD. At a correlation of -1.00, they often move in opposite directions. ETH charges 0.15%/yr vs 1.01%/yr for ETHD.
Performance
ETH vs. ETHD - Performance Comparison
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Returns By Period
In the year-to-date period, ETH achieves a -38.95% return, which is significantly lower than ETHD's 63.80% return.
ETH
- 1D
- -5.52%
- 1M
- -23.42%
- YTD
- -38.95%
- 6M
- -42.17%
- 1Y
- -30.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHD
- 1D
- 11.25%
- 1M
- 66.19%
- YTD
- 63.80%
- 6M
- 72.54%
- 1Y
- -42.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH vs. ETHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | -38.95% | -10.89% | -3.70% |
ETHD ProShares UltraShort Ether ETF | 63.80% | -72.49% | -44.51% |
Correlation
The correlation between ETH and ETHD is -1.00, 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 (1Y) Calculated over the trailing 1-year period | -1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024 | -1.00 |
The correlation between ETH and ETHD has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.
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Return for Risk
ETH vs. ETHD — Risk / Return Rank
ETH
ETHD
ETH vs. ETHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) 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.
| ETH | ETHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.05 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | -0.51 | +0.01 |
| Martin ratioReturn relative to average drawdown | -0.82 | -0.64 | -0.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETH | ETHD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.45 | -0.31 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | -0.35 | -0.06 |
Drawdowns
ETH vs. ETHD - Drawdown Comparison
The maximum ETH drawdown since its inception was -64.01%, smaller than the maximum ETHD drawdown of -95.59%. Use the drawdown chart below to compare losses from any high point for ETH and ETHD.
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Drawdown Indicators
| ETH | ETHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.01% | -95.59% | +31.58% |
Max Drawdown (1Y)Largest decline over 1 year | -62.40% | -83.63% | +21.23% |
Current DrawdownCurrent decline from peak | -62.40% | -87.20% | +24.80% |
Average DrawdownAverage peak-to-trough decline | -32.58% | -66.01% | +33.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.50% | 66.00% | -28.50% |
Volatility
ETH vs. ETHD - Volatility Comparison
The current volatility for Grayscale Ethereum Staking Mini ETF (ETH) is 9.90%, while ProShares UltraShort Ether ETF (ETHD) has a volatility of 19.00%. This indicates that ETH 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.
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Volatility by Period
| ETH | ETHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.90% | 19.00% | -9.10% |
Volatility (6M)Calculated over the trailing 6-month period | 46.02% | 92.37% | -46.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.34% | 136.23% | -67.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.26% | 142.19% | -69.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.26% | 142.19% | -69.93% |
ETH vs. ETHD - Expense Ratio Comparison
ETH has a 0.15% expense ratio, which is lower than ETHD's 1.01% expense ratio.
Dividends
ETH vs. ETHD - Dividend Comparison
ETH has not paid dividends to shareholders, while ETHD's dividend yield for the trailing twelve months is around 10.68%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | 0.00% | 0.00% | 0.00% |
ETHD ProShares UltraShort Ether ETF | 10.68% | 156.62% | 19.15% |
Frequently Asked Questions
ETH and ETHD have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHD has higher volatility (19.00%) compared to ETH (9.90%). In terms of maximum drawdown, ETH dropped -64.01% vs ETHD's -95.59%.
On 1-year performance, ETH leads with -30.84% vs -42.18% for ETHD. On fees, ETH is cheaper at 0.15% per year. On volatility, ETH has been the lower-risk option at 9.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ETH has performed better with a -30.84% return vs -42.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETH is cheaper with a 0.15% expense ratio, compared with 1.01% for ETHD.
ETHD has the higher dividend yield at 10.68%, compared with 0.00% for ETH.
They also come from different issuers: Grayscale and ProShares. Their fees differ too: 0.15% for ETH and 1.01% for ETHD.
ETHD currently has the higher Sharpe Ratio (-0.31 vs -0.45), 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.
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