ETHD vs. RAA

Last updated Aug 5, 2026

ETHD (ProShares UltraShort Ether ETF) and RAA (SMI 3Fourteen REAL Asset Allocation ETF) are both exchange-traded funds - ETHD is a Cryptocurrency fund actively managed by ProShares, while RAA is a Diversified Portfolio fund actively managed by SMI 3Fourteen. Both are actively managed. Over the past year, ETHD returned 6.93% vs 17.42% for RAA. Their -0.59 correlation means they have often moved in opposite directions in the past. ETHD charges 1.01%/yr vs 0.85%/yr for RAA.

Performance

ETHD vs. RAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Ether ETF (ETHD) and SMI 3Fourteen REAL Asset Allocation ETF (RAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHD achieves a 28.16% return, which is significantly higher than RAA's 9.10% return.

ETHD

• 1D: -0.69%
• 1M: -21.42%
• 6M: -13.33%
• YTD: 28.16%
• 1Y: 6.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -50.80%

RAA

• 1D: 1.14%
• 1M: 1.64%
• 6M: 6.09%
• YTD: 9.10%
• 1Y: 17.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ETHD ProShares UltraShort Ether ETF	$15.91M	$15.40M	$23.23M
RAA SMI 3Fourteen REAL Asset Allocation ETF	$1.34M	$1.40M	$1.58M

ETHD vs. RAA - Yearly Performance Comparison

	2026 (YTD)	2025
ETHD ProShares UltraShort Ether ETF	28.16%	-81.59%
RAA SMI 3Fourteen REAL Asset Allocation ETF	9.10%	11.92%

Correlation

The correlation between ETHD and RAA is -0.59, 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.	-0.59
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	-0.59

The correlation between ETHD and RAA has been stable across timeframes, ranging from -0.59 to -0.59 - a consistent structural relationship.

Return for Risk

ETHD vs. RAA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ETHD

ETHD Risk / Return Rank: 17
ETHD Sharpe Ratio Rank: 11
ETHD Sortino Ratio Rank: 26
ETHD Omega Ratio Rank: 25
ETHD Calmar Ratio Rank: 12
ETHD Martin Ratio Rank: 11

RAA

RAA Risk / Return Rank: 65
RAA Sharpe Ratio Rank: 63
RAA Sortino Ratio Rank: 60
RAA Omega Ratio Rank: 61
RAA Calmar Ratio Rank: 75
RAA Martin Ratio Rank: 65

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ETHD vs. RAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) and SMI 3Fourteen REAL Asset Allocation ETF (RAA). 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	RAA	Difference
Sharpe ratio: Return per unit of total volatility	0.05	1.68	-1.62
Sortino ratio: Return per unit of downside risk	1.04	2.31	-1.27
Omega ratio: Gain probability vs. loss probability	1.13	1.30	-0.17
Calmar ratio: Return relative to maximum drawdown	0.13	2.96	-2.83
Martin ratio: Return relative to average drawdown	0.19	8.79	-8.59

ETHD vs. RAA - Sharpe Ratio Comparison

The current ETHD Sharpe Ratio is 0.05, which is lower than the RAA Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of ETHD and RAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETHD vs. RAA - Drawdown Comparison

The maximum ETHD drawdown since its inception was -95.59%, which is greater than RAA's maximum drawdown of -11.96%. Use the drawdown chart below to compare losses from any high point for ETHD and RAA.

Drawdown Indicators

	ETHD	RAA	Difference
Max Drawdown Largest peak-to-trough decline	-95.59%	-11.96%	-83.63%
Max Drawdown (1Y) Largest decline over 1 year	-55.14%	-5.91%	-49.23%
Current Drawdown Current decline from peak	-89.99%	-2.14%	-87.85%
Average Drawdown Average peak-to-trough decline	-67.60%	-1.65%	-65.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.65%	1.99%	+33.66%

Volatility

ETHD vs. RAA - Volatility Comparison

ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 22.21% compared to SMI 3Fourteen REAL Asset Allocation ETF (RAA) at 2.71%. This indicates that ETHD's price experiences larger fluctuations and is considered to be riskier than RAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHD	RAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.21%	2.71%	+19.50%
Volatility (6M) Calculated over the trailing 6-month period	88.19%	8.19%	+80.00%
Volatility (1Y) Calculated over the trailing 1-year period	133.41%	10.48%	+122.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	140.15%	12.63%	+127.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	140.15%	12.63%	+127.52%

ETHD vs. RAA - Expense Ratio Comparison

ETHD has a 1.01% expense ratio, which is higher than RAA's 0.85% expense ratio.

Dividends

ETHD vs. RAA - Dividend Comparison

ETHD's dividend yield for the trailing twelve months is around 8.92%, more than RAA's 2.10% yield.

Position	TTM	2025	2024
ETHD ProShares UltraShort Ether ETF	8.92%	156.62%	19.15%
RAA SMI 3Fourteen REAL Asset Allocation ETF	2.10%	2.14%	0.00%

Frequently Asked Questions

Can I hold both ETHD and RAA in my portfolio?

ETHD and RAA have a correlation of -0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHD or RAA?

ETHD has higher volatility (22.21%) compared to RAA (2.71%). In terms of maximum drawdown, ETHD dropped -95.59% vs RAA's -11.96%.

Which ETF is better, ETHD or RAA?

On 1-year performance, RAA leads with 17.42% vs 6.93% for ETHD. On fees, RAA is cheaper at 0.85% per year. On volatility, RAA has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHD or RAA?

Over the 1-year period, RAA has performed better with a 17.42% return vs 6.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHD or RAA?

RAA is cheaper with a 0.85% expense ratio, compared with 1.01% for ETHD.

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

ETHD has the higher dividend yield at 8.92%, compared with 2.10% for RAA.

What is the main difference between ETHD and RAA?

ETHD is categorized as Cryptocurrency, while RAA is Diversified Portfolio. They also come from different issuers: ProShares and SMI 3Fourteen. Their fees differ too: 1.01% for ETHD and 0.85% for RAA.

Which has better risk-adjusted returns?

RAA currently has the higher Sharpe Ratio (1.68 vs 0.05), 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.