ETHT vs. ETH

Last updated Jun 4, 2026

ETHT (ProShares Ultra Ether ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. ETHT is passively managed, while ETH is actively managed. Over the past year, ETHT returned -76.37% vs -30.84% for ETH. With a 1.00 correlation, they move nearly in lockstep. ETHT charges 0.94%/yr vs 0.15%/yr for ETH.

Performance

ETHT vs. ETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Ether ETF (ETHT) and Grayscale Ethereum Staking Mini ETF (ETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHT achieves a -72.39% return, which is significantly lower than ETH's -38.95% return.

ETHT

• 1D: -11.32%
• 1M: -43.48%
• YTD: -72.39%
• 6M: -76.21%
• 1Y: -76.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETH

• 1D: -5.52%
• 1M: -23.42%
• YTD: -38.95%
• 6M: -42.17%
• 1Y: -30.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHT vs. ETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHT ProShares Ultra Ether ETF	-72.39%	-64.86%	-29.68%
ETH Grayscale Ethereum Staking Mini ETF	-38.95%	-10.89%	-3.70%

Correlation

The correlation between ETHT and ETH is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	1.00

The correlation between ETHT and ETH has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

ETHT vs. ETH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETHT

ETHT Risk / Return Rank: 3
ETHT Sharpe Ratio Rank: 4
ETHT Sortino Ratio Rank: 4
ETHT Omega Ratio Rank: 5
ETHT Calmar Ratio Rank: 2
ETHT Martin Ratio Rank: 3

ETH

ETH Risk / Return Rank: 5
ETH Sharpe Ratio Rank: 5
ETH Sortino Ratio Rank: 6
ETH Omega Ratio Rank: 6
ETH Calmar Ratio Rank: 5
ETH Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETHT vs. ETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Ether ETF (ETHT) 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.

	ETHT	ETH	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	-0.45	-0.11
Sortino ratio: Return per unit of downside risk	-0.54	-0.29	-0.25
Omega ratio: Gain probability vs. loss probability	0.94	0.97	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.83	-0.50	-0.34
Martin ratio: Return relative to average drawdown	-1.22	-0.82	-0.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETHT vs. ETH - Sharpe Ratio Comparison

The current ETHT Sharpe Ratio is -0.56, which is comparable to the ETH Sharpe Ratio of -0.45. The chart below compares the historical Sharpe Ratios of ETHT and ETH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETHT	ETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.56	-0.45	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	-0.41	-0.13

Drawdowns

ETHT vs. ETH - Drawdown Comparison

The maximum ETHT drawdown since its inception was -94.34%, which is greater than ETH's maximum drawdown of -64.01%. Use the drawdown chart below to compare losses from any high point for ETHT and ETH.

Drawdown Indicators

	ETHT	ETH	Difference
Max Drawdown Largest peak-to-trough decline	-94.34%	-64.01%	-30.33%
Max Drawdown (1Y) Largest decline over 1 year	-91.91%	-62.40%	-29.51%
Current Drawdown Current decline from peak	-94.34%	-62.40%	-31.94%
Average Drawdown Average peak-to-trough decline	-64.82%	-32.58%	-32.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.48%	37.50%	+24.98%

Volatility

ETHT vs. ETH - Volatility Comparison

ProShares Ultra Ether ETF (ETHT) has a higher volatility of 20.43% compared to Grayscale Ethereum Staking Mini ETF (ETH) at 9.90%. This indicates that ETHT'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.

Volatility by Period

	ETHT	ETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.43%	9.90%	+10.53%
Volatility (6M) Calculated over the trailing 6-month period	92.88%	46.02%	+46.86%
Volatility (1Y) Calculated over the trailing 1-year period	136.57%	68.34%	+68.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.90%	72.26%	+70.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.90%	72.26%	+70.64%

ETHT vs. ETH - Expense Ratio Comparison

ETHT has a 0.94% expense ratio, which is higher than ETH's 0.15% expense ratio.

Dividends

ETHT vs. ETH - Dividend Comparison

ETHT's dividend yield for the trailing twelve months is around 17.20%, while ETH has not paid dividends to shareholders.

Position	TTM	2025	2024
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%	0.00%
ETHT ProShares Ultra Ether ETF	17.20%	4.57%	0.02%

Frequently Asked Questions

Can I hold both ETHT and ETH in my portfolio?

With a correlation of 1.00, ETHT and ETH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ETHT or ETH?

ETHT has higher volatility (20.43%) compared to ETH (9.90%). In terms of maximum drawdown, ETHT dropped -94.34% vs ETH's -64.01%.

Which ETF is better, ETHT or ETH?

On 1-year performance, ETH leads with -30.84% vs -76.37% for ETHT. On fees, ETH is cheaper at 0.15% per year. On volatility, ETH has been the lower-risk option at 9.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHT or ETH?

Over the 1-year period, ETH has performed better with a -30.84% return vs -76.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHT or ETH?

ETH is cheaper with a 0.15% expense ratio, compared with 0.94% for ETHT.

Which ETF pays a higher dividend yield, ETHT or ETH?

ETHT has the higher dividend yield at 17.20%, compared with 0.00% for ETH.

What is the main difference between ETHT and ETH?

They also come from different issuers: ProShares and Grayscale. Their fees differ too: 0.94% for ETHT and 0.15% for ETH.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.45 vs -0.56), 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.