ETHD vs. USD
ETHD (ProShares UltraShort Ether ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - ETHD is a Cryptocurrency fund actively managed by ProShares, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). ETHD is actively managed, while USD is passively managed. Over the past year, ETHD returned -36.09% vs 185.02% for USD. At a correlation of -0.44, they often move in opposite directions. ETHD charges 1.01%/yr vs 0.95%/yr for USD.
Performance
ETHD vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, ETHD achieves a 98.16% return, which is significantly higher than USD's 92.18% return.
ETHD
- 1D
- 3.15%
- 1M
- 57.64%
- YTD
- 98.16%
- 6M
- 93.66%
- 1Y
- -36.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USD
- 1D
- 4.73%
- 1M
- -0.57%
- YTD
- 92.18%
- 6M
- 86.88%
- 1Y
- 185.02%
- 3Y*
- 118.50%
- 5Y*
- 64.73%
- 10Y*
- 62.72%
ETHD vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 98.16% | -72.49% | -38.58% |
USD ProShares Ultra Semiconductors | 92.18% | 62.08% | -1.86% |
Correlation
The correlation between ETHD and USD is -0.46, 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 | -0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2024 | -0.44 |
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Return for Risk
ETHD vs. USD — Risk / Return Rank
ETHD
USD
ETHD vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.38 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 5.86 | -6.30 |
| Martin ratioReturn relative to average drawdown | -0.56 | 16.16 | -16.72 |
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Drawdowns
ETHD vs. USD - Drawdown Comparison
The maximum ETHD drawdown since its inception was -95.59%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for ETHD and USD.
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Drawdown Indicators
| ETHD | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.59% | -88.63% | -6.96% |
Max Drawdown (1Y)Largest decline over 1 year | -82.01% | -31.80% | -50.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -64.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -84.52% | -11.21% | -73.31% |
Average DrawdownAverage peak-to-trough decline | -66.48% | -32.29% | -34.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.02% | 11.50% | +52.52% |
Volatility
ETHD vs. USD - Volatility Comparison
ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 39.60% compared to ProShares Ultra Semiconductors (USD) at 33.79%. This indicates that ETHD's price experiences larger fluctuations and is considered to be riskier than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHD | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.60% | 33.79% | +5.81% |
Volatility (6M)Calculated over the trailing 6-month period | 92.56% | 53.90% | +38.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 137.24% | 67.84% | +69.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 142.43% | 77.74% | +64.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 142.43% | 69.82% | +72.61% |
ETHD vs. USD - Expense Ratio Comparison
ETHD has a 1.01% expense ratio, which is higher than USD's 0.95% expense ratio.
Dividends
ETHD vs. USD - Dividend Comparison
ETHD's dividend yield for the trailing twelve months is around 8.83%, more than USD's 0.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 8.83% | 156.62% | 19.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.30% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
ETHD and USD have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHD has higher volatility (39.60%) compared to USD (33.79%). In terms of maximum drawdown, ETHD dropped -95.59% vs USD's -88.63%.
On 1-year performance, USD leads with 185.02% vs -36.09% for ETHD. On fees, USD is cheaper at 0.95% per year. On volatility, USD has been the lower-risk option at 33.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USD has performed better with a 185.02% return vs -36.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USD is cheaper with a 0.95% expense ratio, compared with 1.01% for ETHD.
ETHD has the higher dividend yield at 8.83%, compared with 0.30% for USD.
ETHD is categorized as Cryptocurrency, while USD is Leveraged Equities. Their fees differ too: 1.01% for ETHD and 0.95% for USD.
USD currently has the higher Sharpe Ratio (2.75 vs -0.26), 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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