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 6.93% vs -48.28% for ETH. Their -1.00 correlation means they have often moved in opposite directions in the past. 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 28.16% return, which is significantly higher than ETH's -36.32% return.
ETHD
- 1D
- -0.69%
- 1M
- -21.42%
- 6M
- -13.33%
- YTD
- 28.16%
- 1Y
- 6.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -50.80%
ETH
- 1D
- 0.28%
- 1M
- 10.44%
- 6M
- -17.80%
- YTD
- -36.32%
- 1Y
- -48.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.50M | $32.90M | $45.65M | |
| $15.91M | $15.40M | $23.23M |
ETHD vs. ETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 28.16% | -72.49% | -43.10% |
ETH Grayscale Ethereum Staking Mini ETF | -36.32% | -10.89% | -4.58% |
Correlation
The correlation between ETHD and ETH is -1.00, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 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.
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 | ETH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.90 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | -0.72 | +0.84 |
| Martin ratioReturn relative to average drawdown | 0.19 | -1.06 | +1.26 |
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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 -67.52%. 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% | -67.52% | -28.07% |
Max Drawdown (1Y)Largest decline over 1 year | -55.14% | -67.52% | +12.38% |
Current DrawdownCurrent decline from peak | -89.99% | -60.78% | -29.21% |
Average DrawdownAverage peak-to-trough decline | -67.60% | -35.14% | -32.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.65% | 45.39% | -9.74% |
Volatility
ETHD vs. ETH - Volatility Comparison
ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 22.21% compared to Grayscale Ethereum Staking Mini ETF (ETH) at 11.09%. 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 | 22.21% | 11.09% | +11.12% |
Volatility (6M)Calculated over the trailing 6-month period | 88.19% | 43.44% | +44.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 133.41% | 66.90% | +66.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 140.15% | 71.08% | +69.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 140.15% | 71.08% | +69.07% |
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 8.92%, 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 | 8.92% | 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 (22.21%) compared to ETH (11.09%). In terms of maximum drawdown, ETHD dropped -95.59% vs ETH's -67.52%.
On 1-year performance, ETHD leads with 6.93% vs -48.28% for ETH. On fees, ETH is cheaper at 0.15% per year. On volatility, ETH has been the lower-risk option at 11.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ETHD has performed better with a 6.93% return vs -48.28%. 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 8.92%, 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 (0.05 vs -0.73), 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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