ETHT vs. EZBC

Last updated Jul 14, 2026

ETHT (ProShares Ultra Ether ETF) and EZBC (Franklin Bitcoin ETF) are both Cryptocurrency funds - ETHT tracks the Bloomberg Ethereum Index (200%) while EZBC tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, ETHT returned -82.70% vs -47.53% for EZBC. Their correlation of 0.83 suggests significant overlap in exposure. ETHT charges 0.94%/yr vs 0.19%/yr for EZBC.

Performance

ETHT vs. EZBC - Performance Comparison

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

Returns By Period

In the year-to-date period, ETHT achieves a -75.07% return, which is significantly lower than EZBC's -28.97% return.

ETHT

• 1D: -2.20%
• 1M: 8.91%
• 6M: -76.81%
• YTD: -75.07%
• 1Y: -82.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EZBC

• 1D: -2.68%
• 1M: -2.20%
• 6M: -32.06%
• YTD: -28.97%
• 1Y: -47.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHT vs. EZBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHT ProShares Ultra Ether ETF	-75.07%	-64.86%	-45.44%
EZBC Franklin Bitcoin ETF	-28.97%	-6.56%	32.56%

Correlation

The correlation between ETHT and EZBC is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 7, 2024	0.83

The correlation between ETHT and EZBC has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.

Return for Risk

ETHT vs. EZBC — 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: 4
ETHT Calmar Ratio Rank: 2
ETHT Martin Ratio Rank: 3

EZBC

EZBC Risk / Return Rank: 1
EZBC Sharpe Ratio Rank: 1
EZBC Sortino Ratio Rank: 1
EZBC Omega Ratio Rank: 1
EZBC Calmar Ratio Rank: 1
EZBC Martin Ratio Rank: 1

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. EZBC - Risk-Adjusted Trends Comparison

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

	ETHT	EZBC	Difference
Sharpe ratio: Return per unit of total volatility	-0.61	-1.08	+0.47
Sortino ratio: Return per unit of downside risk	-0.85	-1.66	+0.80
Omega ratio: Gain probability vs. loss probability	0.91	0.82	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.88	-0.89	+0.01
Martin ratio: Return relative to average drawdown	-1.20	-1.45	+0.26

ETHT vs. EZBC - Sharpe Ratio Comparison

The current ETHT Sharpe Ratio is -0.61, which is higher than the EZBC Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of ETHT and EZBC, 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

ETHT vs. EZBC - Drawdown Comparison

The maximum ETHT drawdown since its inception was -96.25%, which is greater than EZBC's maximum drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for ETHT and EZBC.

Drawdown Indicators

	ETHT	EZBC	Difference
Max Drawdown Largest peak-to-trough decline	-96.25%	-53.35%	-42.90%
Max Drawdown (1Y) Largest decline over 1 year	-94.27%	-53.35%	-40.92%
Current Drawdown Current decline from peak	-95.22%	-50.56%	-44.66%
Average Drawdown Average peak-to-trough decline	-68.38%	-17.60%	-50.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	69.01%	32.70%	+36.31%

Volatility

ETHT vs. EZBC - Volatility Comparison

ProShares Ultra Ether ETF (ETHT) has a higher volatility of 31.73% compared to Franklin Bitcoin ETF (EZBC) at 11.44%. This indicates that ETHT's price experiences larger fluctuations and is considered to be riskier than EZBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHT	EZBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.73%	11.44%	+20.29%
Volatility (6M) Calculated over the trailing 6-month period	95.10%	34.78%	+60.32%
Volatility (1Y) Calculated over the trailing 1-year period	136.16%	44.31%	+91.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.24%	49.90%	+92.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.24%	49.90%	+92.34%

ETHT vs. EZBC - Expense Ratio Comparison

ETHT has a 0.94% expense ratio, which is higher than EZBC's 0.19% expense ratio.

Dividends

ETHT vs. EZBC - Dividend Comparison

ETHT's dividend yield for the trailing twelve months is around 19.20%, while EZBC has not paid dividends to shareholders.

Position	TTM	2025	2024
ETHT ProShares Ultra Ether ETF	19.20%	4.57%	0.02%
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETHT and EZBC in my portfolio?

ETHT and EZBC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHT or EZBC?

ETHT has higher volatility (31.73%) compared to EZBC (11.44%). In terms of maximum drawdown, ETHT dropped -96.25% vs EZBC's -53.35%.

Which ETF is better, ETHT or EZBC?

On 1-year performance, EZBC leads with -47.53% vs -82.70% for ETHT. On fees, EZBC is cheaper at 0.19% per year. On volatility, EZBC has been the lower-risk option at 11.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHT or EZBC?

Over the 1-year period, EZBC has performed better with a -47.53% return vs -82.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHT or EZBC?

EZBC is cheaper with a 0.19% expense ratio, compared with 0.94% for ETHT.

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

ETHT has the higher dividend yield at 19.20%, compared with 0.00% for EZBC.

What is the main difference between ETHT and EZBC?

ETHT tracks Bloomberg Ethereum Index (200%), while EZBC tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: ProShares and Franklin Templeton. Their fees differ too: 0.94% for ETHT and 0.19% for EZBC.

Which has better risk-adjusted returns?

ETHT currently has the higher Sharpe Ratio (-0.61 vs -1.08), 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.