ETHT vs. USFR

Last updated Jun 23, 2026

ETHT (ProShares Ultra Ether ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - ETHT is a Cryptocurrency fund tracking the Bloomberg Ethereum Index (200%), while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past year, ETHT returned -74.56% vs 3.97% for USFR. At a 0.02 correlation, their price movements are largely independent. ETHT charges 0.94%/yr vs 0.15%/yr for USFR.

Performance

ETHT vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Ether ETF (ETHT) and WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHT achieves a -75.59% return, which is significantly lower than USFR's 1.78% return.

ETHT

• 1D: 3.16%
• 1M: -33.42%
• YTD: -75.59%
• 6M: -75.81%
• 1Y: -74.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.78%
• 6M: 1.89%
• 1Y: 3.97%
• 3Y*: 4.72%
• 5Y*: 3.70%
• 10Y*: 2.43%

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

ETHT vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHT ProShares Ultra Ether ETF	-75.59%	-64.86%	-45.44%
USFR WisdomTree Floating Rate Treasury Fund	1.78%	4.23%	2.84%

Correlation

The correlation between ETHT and USFR is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Jun 7, 2024	0.02

Return for Risk

ETHT vs. USFR — Risk / Return Rank

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

ETHT

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

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

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. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Ether ETF (ETHT) and WisdomTree Floating Rate Treasury Fund (USFR). 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	USFR	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	14.65	-15.19
Sortino ratio: Return per unit of downside risk	-0.43	49.88	-50.31
Omega ratio: Gain probability vs. loss probability	0.95	13.24	-12.29
Calmar ratio: Return relative to maximum drawdown	-0.80	200.29	-201.09
Martin ratio: Return relative to average drawdown	-1.14	775.73	-776.87

ETHT vs. USFR - Sharpe Ratio Comparison

The current ETHT Sharpe Ratio is -0.54, which is lower than the USFR Sharpe Ratio of 14.65. The chart below compares the historical Sharpe Ratios of ETHT and USFR, 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. USFR - Drawdown Comparison

The maximum ETHT drawdown since its inception was -96.02%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for ETHT and USFR.

Drawdown Indicators

	ETHT	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-96.02%	-1.36%	-94.66%
Max Drawdown (1Y) Largest decline over 1 year	-93.92%	-0.02%	-93.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	-95.32%	0.00%	-95.32%
Average Drawdown Average peak-to-trough decline	-67.63%	-0.15%	-67.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	65.41%	0.01%	+65.40%

Volatility

ETHT vs. USFR - Volatility Comparison

ProShares Ultra Ether ETF (ETHT) has a higher volatility of 39.52% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.08%. This indicates that ETHT's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHT	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	39.52%	0.08%	+39.44%
Volatility (6M) Calculated over the trailing 6-month period	94.60%	0.19%	+94.41%
Volatility (1Y) Calculated over the trailing 1-year period	137.92%	0.27%	+137.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	143.23%	0.40%	+142.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.23%	0.78%	+142.45%

ETHT vs. USFR - Expense Ratio Comparison

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

Dividends

ETHT vs. USFR - Dividend Comparison

ETHT's dividend yield for the trailing twelve months is around 19.46%, more than USFR's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ETHT ProShares Ultra Ether ETF	19.46%	4.57%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both ETHT and USFR in my portfolio?

ETHT and USFR have a correlation of -0.07, 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 USFR?

ETHT has higher volatility (39.52%) compared to USFR (0.08%). In terms of maximum drawdown, ETHT dropped -96.02% vs USFR's -1.36%.

Which ETF is better, ETHT or USFR?

On 1-year performance, USFR leads with 3.97% vs -74.56% for ETHT. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHT or USFR?

Over the 1-year period, USFR has performed better with a 3.97% return vs -74.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHT or USFR?

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

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

ETHT has the higher dividend yield at 19.46%, compared with 3.91% for USFR.

What is the main difference between ETHT and USFR?

ETHT is categorized as Cryptocurrency, while USFR is Government Bonds. ETHT tracks Bloomberg Ethereum Index (200%), while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: ProShares and WisdomTree. Their fees differ too: 0.94% for ETHT and 0.15% for USFR.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (14.65 vs -0.54), 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.