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 -40.70% vs 250.81% for USD. At a correlation of -0.43, 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 68.24% return, which is significantly lower than USD's 103.32% return.
ETHD
- 1D
- 2.71%
- 1M
- 73.12%
- YTD
- 68.24%
- 6M
- 77.63%
- 1Y
- -40.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USD
- 1D
- -4.99%
- 1M
- 31.62%
- YTD
- 103.32%
- 6M
- 97.79%
- 1Y
- 250.81%
- 3Y*
- 125.78%
- 5Y*
- 67.80%
- 10Y*
- 61.24%
ETHD vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 68.24% | -72.49% | -42.57% |
USD ProShares Ultra Semiconductors | 103.32% | 62.08% | -1.57% |
Correlation
The correlation between ETHD and USD is -0.45, 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 | -0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2024 | -0.43 |
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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.
| ETHD | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.42 | ||
| Sortino ratioReturn per unit of downside risk | -3.19 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.48 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 7.94 | -8.43 |
| Martin ratioReturn relative to average drawdown | -0.62 | 22.96 | -23.58 |
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 | USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | 4.12 | -4.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.89 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.89 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.34 | 0.49 | -0.83 |
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 | -83.63% | -31.80% | -51.83% |
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 | -86.85% | -6.07% | -80.78% |
Average DrawdownAverage peak-to-trough decline | -66.06% | -32.35% | -33.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.08% | 10.98% | +55.10% |
Volatility
ETHD vs. USD - Volatility Comparison
The current volatility for ProShares UltraShort Ether ETF (ETHD) is 18.57%, while ProShares Ultra Semiconductors (USD) has a volatility of 21.29%. This indicates that ETHD experiences smaller price fluctuations and is considered to be less risky 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 | 18.57% | 21.29% | -2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 90.60% | 46.74% | +43.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 136.04% | 61.28% | +74.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 142.06% | 76.56% | +65.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 142.06% | 69.24% | +72.82% |
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 10.40%, more than USD's 0.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 10.40% | 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 | 0.23% | 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 -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (21.29%) compared to ETHD (18.57%). In terms of maximum drawdown, ETHD dropped -95.59% vs USD's -88.63%.
On 1-year performance, USD leads with 250.81% vs -40.70% for ETHD. On fees, USD is cheaper at 0.95% per year. On volatility, ETHD has been the lower-risk option at 18.57%. 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 250.81% return vs -40.70%. 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 10.40%, compared with 0.23% 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 (4.12 vs -0.30), 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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