ETU vs. ETHD

Last updated Jun 23, 2026

ETU (T-Rex 2X Long Ether Daily Target ETF) and ETHD (ProShares UltraShort Ether ETF) are both exchange-traded funds - ETU is a Leveraged Cryptocurrency fund actively managed by REX Shares, while ETHD is a Cryptocurrency fund actively managed by ProShares. Both are actively managed. Over the past year, ETU returned -72.96% vs -49.25% for ETHD. At a correlation of -1.00, they often move in opposite directions. ETU charges 0.95%/yr vs 1.01%/yr for ETHD.

Performance

ETU vs. ETHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Ether Daily Target ETF (ETU) and ProShares UltraShort Ether ETF (ETHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETU achieves a -74.50% return, which is significantly lower than ETHD's 61.66% return.

ETU

• 1D: 3.08%
• 1M: -32.85%
• YTD: -74.50%
• 6M: -74.81%
• 1Y: -72.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHD

• 1D: -3.34%
• 1M: 27.31%
• YTD: 61.66%
• 6M: 62.24%
• 1Y: -49.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETU vs. ETHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETU T-Rex 2X Long Ether Daily Target ETF	-74.50%	-62.44%	53.26%
ETHD ProShares UltraShort Ether ETF	61.66%	-72.49%	-60.53%

Correlation

The correlation between ETU and ETHD is -1.00, 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	-1.00
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	-1.00

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

Return for Risk

ETU vs. ETHD — Risk / Return Rank

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

ETU

ETU Risk / Return Rank: 4
ETU Sharpe Ratio Rank: 5
ETU Sortino Ratio Rank: 6
ETU Omega Ratio Rank: 6
ETU Calmar Ratio Rank: 2
ETU Martin Ratio Rank: 3

ETHD

ETHD Risk / Return Rank: 7
ETHD Sharpe Ratio Rank: 6
ETHD Sortino Ratio Rank: 10
ETHD Omega Ratio Rank: 9
ETHD Calmar Ratio Rank: 4
ETHD Martin Ratio Rank: 6

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.

ETU vs. ETHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Ether Daily Target ETF (ETU) and ProShares UltraShort Ether ETF (ETHD). 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.

	ETU	ETHD	Difference
Sharpe ratio: Return per unit of total volatility	-0.53	-0.36	-0.17
Sortino ratio: Return per unit of downside risk	-0.37	0.28	-0.65
Omega ratio: Gain probability vs. loss probability	0.96	1.03	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.78	-0.59	-0.19
Martin ratio: Return relative to average drawdown	-1.12	-0.74	-0.39

ETU vs. ETHD - Sharpe Ratio Comparison

The current ETU Sharpe Ratio is -0.53, which is lower than the ETHD Sharpe Ratio of -0.36. The chart below compares the historical Sharpe Ratios of ETU and ETHD, 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

ETU vs. ETHD - Drawdown Comparison

The maximum ETU drawdown since its inception was -94.77%, roughly equal to the maximum ETHD drawdown of -95.59%. Use the drawdown chart below to compare losses from any high point for ETU and ETHD.

Drawdown Indicators

	ETU	ETHD	Difference
Max Drawdown Largest peak-to-trough decline	-94.77%	-95.59%	+0.82%
Max Drawdown (1Y) Largest decline over 1 year	-93.62%	-83.63%	-9.99%
Current Drawdown Current decline from peak	-93.79%	-87.37%	-6.42%
Average Drawdown Average peak-to-trough decline	-63.16%	-66.37%	+3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	64.99%	66.84%	-1.85%

Volatility

ETU vs. ETHD - Volatility Comparison

T-Rex 2X Long Ether Daily Target ETF (ETU) and ProShares UltraShort Ether ETF (ETHD) have volatilities of 40.50% and 38.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETU	ETHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.50%	38.88%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	94.70%	93.41%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	138.07%	137.58%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	146.29%	142.56%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.29%	142.56%	+3.73%

ETU vs. ETHD - Expense Ratio Comparison

ETU has a 0.95% expense ratio, which is lower than ETHD's 1.01% expense ratio.

Dividends

ETU vs. ETHD - Dividend Comparison

ETU's dividend yield for the trailing twelve months is around 0.01%, less than ETHD's 10.82% yield.

Position	TTM	2025	2024
ETHD ProShares UltraShort Ether ETF	10.82%	156.62%	19.15%
ETU T-Rex 2X Long Ether Daily Target ETF	0.01%	0.00%	0.05%

Frequently Asked Questions

Can I hold both ETU and ETHD in my portfolio?

ETU and ETHD have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETU or ETHD?

ETU has higher volatility (40.50%) compared to ETHD (38.88%). In terms of maximum drawdown, ETU dropped -94.77% vs ETHD's -95.59%.

Which ETF is better, ETU or ETHD?

On 1-year performance, ETHD leads with -49.25% vs -72.96% for ETU. On fees, ETU is cheaper at 0.95% per year. On volatility, ETHD has been the lower-risk option at 38.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETU or ETHD?

Over the 1-year period, ETHD has performed better with a -49.25% return vs -72.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETU or ETHD?

ETU is cheaper with a 0.95% expense ratio, compared with 1.01% for ETHD.

Which ETF pays a higher dividend yield, ETU or ETHD?

ETHD has the higher dividend yield at 10.82%, compared with 0.01% for ETU.

What is the main difference between ETU and ETHD?

ETU is categorized as Leveraged Cryptocurrency, while ETHD is Cryptocurrency. They also come from different issuers: REX Shares and ProShares. Their fees differ too: 0.95% for ETU and 1.01% for ETHD.

Which has better risk-adjusted returns?

ETHD currently has the higher Sharpe Ratio (-0.36 vs -0.53), 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.