ETHA vs. ETHD
ETHA (iShares Ethereum Trust ETF) and ETHD (ProShares UltraShort Ether ETF) are both Cryptocurrency funds. ETHA is passively managed, while ETHD is actively managed. Over the past year, ETHA returned -31.79% vs -42.18% for ETHD. At a correlation of -1.00, they often move in opposite directions. ETHA charges 0.25%/yr vs 1.01%/yr for ETHD.
Performance
ETHA vs. ETHD - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -39.46% return, which is significantly lower than ETHD's 63.80% return.
ETHA
- 1D
- -5.56%
- 1M
- -23.58%
- YTD
- -39.46%
- 6M
- -42.75%
- 1Y
- -31.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHD
- 1D
- 11.25%
- 1M
- 66.19%
- YTD
- 63.80%
- 6M
- 72.54%
- 1Y
- -42.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA vs. ETHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -39.46% | -11.31% | -3.62% |
ETHD ProShares UltraShort Ether ETF | 63.80% | -72.49% | -44.51% |
Correlation
The correlation between ETHA 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 ETHA 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
ETHA vs. ETHD — Risk / Return Rank
ETHA
ETHD
ETHA vs. ETHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) 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.
| ETHA | ETHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.05 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | -0.51 | 0.00 |
| Martin ratioReturn relative to average drawdown | -0.84 | -0.64 | -0.20 |
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
| ETHA | ETHD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.47 | -0.31 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | -0.35 | -0.06 |
Drawdowns
ETHA vs. ETHD - Drawdown Comparison
The maximum ETHA drawdown since its inception was -64.02%, smaller than the maximum ETHD drawdown of -95.59%. Use the drawdown chart below to compare losses from any high point for ETHA and ETHD.
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Drawdown Indicators
| ETHA | ETHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.02% | -95.59% | +31.57% |
Max Drawdown (1Y)Largest decline over 1 year | -62.89% | -83.63% | +20.74% |
Current DrawdownCurrent decline from peak | -62.89% | -87.20% | +24.31% |
Average DrawdownAverage peak-to-trough decline | -32.65% | -66.01% | +33.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.73% | 66.00% | -28.27% |
Volatility
ETHA vs. ETHD - Volatility Comparison
The current volatility for iShares Ethereum Trust ETF (ETHA) is 10.15%, while ProShares UltraShort Ether ETF (ETHD) has a volatility of 19.00%. This indicates that ETHA 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
| ETHA | ETHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.15% | 19.00% | -8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 46.25% | 92.37% | -46.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.61% | 136.23% | -67.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.53% | 142.19% | -69.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.53% | 142.19% | -69.66% |
ETHA vs. ETHD - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is lower than ETHD's 1.01% expense ratio.
Dividends
ETHA vs. ETHD - Dividend Comparison
ETHA has not paid dividends to shareholders, while ETHD's dividend yield for the trailing twelve months is around 10.68%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% |
ETHD ProShares UltraShort Ether ETF | 10.68% | 156.62% | 19.15% |
Frequently Asked Questions
ETHA 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 ETHA (10.15%). In terms of maximum drawdown, ETHA dropped -64.02% vs ETHD's -95.59%.
On 1-year performance, ETHA leads with -31.79% vs -42.18% for ETHD. On fees, ETHA is cheaper at 0.25% per year. On volatility, ETHA has been the lower-risk option at 10.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ETHA has performed better with a -31.79% return vs -42.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHA is cheaper with a 0.25% expense ratio, compared with 1.01% for ETHD.
ETHD has the higher dividend yield at 10.68%, compared with 0.00% for ETHA.
They also come from different issuers: iShares and ProShares. Their fees differ too: 0.25% for ETHA and 1.01% for ETHD.
ETHD currently has the higher Sharpe Ratio (-0.31 vs -0.47), 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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