ETHD vs. EHY

Last updated Jul 14, 2026

ETHD (ProShares UltraShort Ether ETF) and EHY (Amplify Ethereum Max Income Covered Call ETF) are both Cryptocurrency funds. Both are actively managed. At a correlation of -0.95, they often move in opposite directions. ETHD charges 1.01%/yr vs 0.75%/yr for EHY.

Performance

ETHD vs. EHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Ether ETF (ETHD) and Amplify Ethereum Max Income Covered Call ETF (EHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHD achieves a 47.92% return, which is significantly higher than EHY's -43.79% return.

ETHD

• 1D: 1.79%
• 1M: -18.28%
• 6M: 63.00%
• YTD: 47.92%
• 1Y: -22.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EHY

• 1D: -1.45%
• 1M: -1.42%
• 6M: -45.02%
• YTD: -43.79%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHD vs. EHY - Yearly Performance Comparison

	2026 (YTD)	2025
ETHD ProShares UltraShort Ether ETF	47.92%	62.01%
EHY Amplify Ethereum Max Income Covered Call ETF	-43.79%	-25.56%

Correlation

The correlation between ETHD and EHY 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 Oct 9, 2025	-0.95

Return for Risk

ETHD vs. EHY — Risk / Return Rank

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

ETHD

ETHD Risk / Return Rank: 11
ETHD Sharpe Ratio Rank: 8
ETHD Sortino Ratio Rank: 16
ETHD Omega Ratio Rank: 16
ETHD Calmar Ratio Rank: 6
ETHD Martin Ratio Rank: 7

EHY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ETHD vs. EHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) and Amplify Ethereum Max Income Covered Call ETF (EHY). 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.

	ETHD	EHY	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	—	—
Sortino ratio: Return per unit of downside risk	0.71	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	-0.32	—	—
Martin ratio: Return relative to average drawdown	-0.49	—	—

Drawdowns

ETHD vs. EHY - Drawdown Comparison

The maximum ETHD drawdown since its inception was -95.59%, which is greater than EHY's maximum drawdown of -61.70%. Use the drawdown chart below to compare losses from any high point for ETHD and EHY.

Drawdown Indicators

	ETHD	EHY	Difference
Max Drawdown Largest peak-to-trough decline	-95.59%	-61.70%	-33.89%
Max Drawdown (1Y) Largest decline over 1 year	-70.58%	—	—
Current Drawdown Current decline from peak	-88.44%	-58.24%	-30.20%
Average Drawdown Average peak-to-trough decline	-66.91%	-36.42%	-30.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.38%	—	—

Volatility

Volatility by Period

	ETHD	EHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	93.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	135.96%	60.03%	+75.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	141.58%	60.03%	+81.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	141.58%	60.03%	+81.55%

ETHD vs. EHY - Expense Ratio Comparison

ETHD has a 1.01% expense ratio, which is higher than EHY's 0.75% expense ratio.

Dividends

ETHD vs. EHY - Dividend Comparison

ETHD's dividend yield for the trailing twelve months is around 5.03%, less than EHY's 59.36% yield.

Position	TTM	2025	2024
EHY Amplify Ethereum Max Income Covered Call ETF	59.36%	8.87%	0.00%
ETHD ProShares UltraShort Ether ETF	5.03%	156.62%	19.15%

Frequently Asked Questions

Can I hold both ETHD and EHY in my portfolio?

ETHD and EHY 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.

Which ETF is better, ETHD or EHY?

On fees, EHY is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETHD or EHY?

EHY is cheaper with a 0.75% expense ratio, compared with 1.01% for ETHD.

Which ETF pays a higher dividend yield, ETHD or EHY?

EHY has the higher dividend yield at 59.36%, compared with 5.03% for ETHD.

What is the main difference between ETHD and EHY?

They also come from different issuers: ProShares and Amplify. Their fees differ too: 1.01% for ETHD and 0.75% for EHY.