ETHD vs. ETH
ETHD (ProShares UltraShort Ether ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, ETHD returned -42.18% vs -30.84% for ETH. At a correlation of -1.00, they often move in opposite directions. ETHD charges 1.01%/yr vs 0.15%/yr for ETH.
Performance
ETHD vs. ETH - Performance Comparison
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Returns By Period
In the year-to-date period, ETHD achieves a 63.80% return, which is significantly higher than ETH's -38.95% return.
ETHD
- 1D
- 11.25%
- 1M
- 66.19%
- YTD
- 63.80%
- 6M
- 72.54%
- 1Y
- -42.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH
- 1D
- -5.52%
- 1M
- -23.42%
- YTD
- -38.95%
- 6M
- -42.17%
- 1Y
- -30.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHD vs. ETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 63.80% | -72.49% | -44.51% |
ETH Grayscale Ethereum Staking Mini ETF | -38.95% | -10.89% | -3.70% |
Correlation
The correlation between ETHD and ETH 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 ETHD and ETH has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.
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Return for Risk
ETHD vs. ETH — Risk / Return Rank
ETHD
ETH
ETHD vs. ETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) and Grayscale Ethereum Staking Mini ETF (ETH). 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.
| ETHD | ETH | 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 | 1.05 | 0.97 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | -0.50 | -0.01 |
| Martin ratioReturn relative to average drawdown | -0.64 | -0.82 | +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
| ETHD | ETH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.31 | -0.45 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.35 | -0.41 | +0.06 |
Drawdowns
ETHD vs. ETH - Drawdown Comparison
The maximum ETHD drawdown since its inception was -95.59%, which is greater than ETH's maximum drawdown of -64.01%. Use the drawdown chart below to compare losses from any high point for ETHD and ETH.
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Drawdown Indicators
| ETHD | ETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.59% | -64.01% | -31.58% |
Max Drawdown (1Y)Largest decline over 1 year | -83.63% | -62.40% | -21.23% |
Current DrawdownCurrent decline from peak | -87.20% | -62.40% | -24.80% |
Average DrawdownAverage peak-to-trough decline | -66.01% | -32.58% | -33.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.00% | 37.50% | +28.50% |
Volatility
ETHD vs. ETH - Volatility Comparison
ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 19.00% compared to Grayscale Ethereum Staking Mini ETF (ETH) at 9.90%. This indicates that ETHD's price experiences larger fluctuations and is considered to be riskier than ETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHD | ETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.00% | 9.90% | +9.10% |
Volatility (6M)Calculated over the trailing 6-month period | 92.37% | 46.02% | +46.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 136.23% | 68.34% | +67.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 142.19% | 72.26% | +69.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 142.19% | 72.26% | +69.93% |
ETHD vs. ETH - Expense Ratio Comparison
ETHD has a 1.01% expense ratio, which is higher than ETH's 0.15% expense ratio.
Dividends
ETHD vs. ETH - Dividend Comparison
ETHD's dividend yield for the trailing twelve months is around 10.68%, while ETH has not paid dividends to shareholders.
| 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
ETHD and ETH 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, ETHD dropped -95.59% vs ETH's -64.01%.
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: ProShares and Grayscale. Their fees differ too: 1.01% for ETHD and 0.15% for ETH.
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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