ETHD vs. ETHA
ETHD (ProShares UltraShort Ether ETF) and ETHA (iShares Ethereum Trust ETF) are both Cryptocurrency funds. ETHD is actively managed, while ETHA is passively managed. Over the past year, ETHD returned -49.25% vs -28.52% for ETHA. At a correlation of -1.00, they often move in opposite directions. ETHD charges 1.01%/yr vs 0.25%/yr for ETHA.
Performance
ETHD vs. ETHA - Performance Comparison
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Returns By Period
In the year-to-date period, ETHD achieves a 61.66% return, which is significantly higher than ETHA's -41.77% return.
ETHD
- 1D
- -3.34%
- 1M
- 27.31%
- YTD
- 61.66%
- 6M
- 62.24%
- 1Y
- -49.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA
- 1D
- 1.40%
- 1M
- -16.12%
- YTD
- -41.77%
- 6M
- -41.90%
- 1Y
- -28.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHD vs. ETHA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 61.66% | -72.49% | -43.10% |
ETHA iShares Ethereum Trust ETF | -41.77% | -11.31% | -4.89% |
Correlation
The correlation between ETHD and ETHA 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 23, 2024 | -1.00 |
The correlation between ETHD and ETHA 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. ETHA — Risk / Return Rank
ETHD
ETHA
ETHD vs. ETHA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) and iShares Ethereum Trust ETF (ETHA). 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 | ETHA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.98 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | -0.42 | -0.17 |
| Martin ratioReturn relative to average drawdown | -0.74 | -0.71 | -0.03 |
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Drawdowns
ETHD vs. ETHA - Drawdown Comparison
The maximum ETHD drawdown since its inception was -95.59%, which is greater than ETHA's maximum drawdown of -67.56%. Use the drawdown chart below to compare losses from any high point for ETHD and ETHA.
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Drawdown Indicators
| ETHD | ETHA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.59% | -67.56% | -28.03% |
Max Drawdown (1Y)Largest decline over 1 year | -83.63% | -67.56% | -16.07% |
Current DrawdownCurrent decline from peak | -87.37% | -64.31% | -23.06% |
Average DrawdownAverage peak-to-trough decline | -66.37% | -33.57% | -32.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.84% | 40.19% | +26.65% |
Volatility
ETHD vs. ETHA - Volatility Comparison
ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 38.88% compared to iShares Ethereum Trust ETF (ETHA) at 19.68%. This indicates that ETHD's price experiences larger fluctuations and is considered to be riskier than ETHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHD | ETHA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 38.88% | 19.68% | +19.20% |
Volatility (6M)Calculated over the trailing 6-month period | 93.41% | 46.99% | +46.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 137.58% | 69.34% | +68.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 142.56% | 72.67% | +69.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 142.56% | 72.67% | +69.89% |
ETHD vs. ETHA - Expense Ratio Comparison
ETHD has a 1.01% expense ratio, which is higher than ETHA's 0.25% expense ratio.
Dividends
ETHD vs. ETHA - Dividend Comparison
ETHD's dividend yield for the trailing twelve months is around 10.82%, while ETHA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% |
ETHD ProShares UltraShort Ether ETF | 10.82% | 156.62% | 19.15% |
Frequently Asked Questions
ETHD and ETHA 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 (38.88%) compared to ETHA (19.68%). In terms of maximum drawdown, ETHD dropped -95.59% vs ETHA's -67.56%.
On 1-year performance, ETHA leads with -28.52% vs -49.25% for ETHD. On fees, ETHA is cheaper at 0.25% per year. On volatility, ETHA has been the lower-risk option at 19.68%. 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 -28.52% return vs -49.25%. 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 10.82%, compared with 0.00% for ETHA.
They also come from different issuers: ProShares and iShares. Their fees differ too: 1.01% for ETHD and 0.25% for ETHA.
ETHD currently has the higher Sharpe Ratio (-0.36 vs -0.41), 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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