LTCN vs. ETHD

Last updated Apr 2, 2026

Compare and contrast key facts about Grayscale Litecoin Trust (LTCN) and ProShares UltraShort Ether ETF (ETHD).

LTCN and ETHD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LTCN is a passively managed fund by Grayscale that tracks the performance of the CoinDesk Litecoin Price Index. It was launched on Aug 18, 2020. ETHD is an actively managed fund by ProShares. It was launched on Jun 7, 2024.

Performance

LTCN vs. ETHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Litecoin Trust (LTCN) and ProShares UltraShort Ether ETF (ETHD). The values are adjusted to include any dividend payments, if applicable.

LTCN vs. ETHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LTCN Grayscale Litecoin Trust	-30.17%	-54.37%	-50.00%
ETHD ProShares UltraShort Ether ETF	24.55%	-72.49%	-42.57%

Returns By Period

In the year-to-date period, LTCN achieves a -30.17% return, which is significantly lower than ETHD's 24.55% return.

LTCN

• 1D: -0.12%
• 1M: -2.04%
• YTD: -30.17%
• 6M: -56.04%
• 1Y: -40.13%
• 3Y*: 0.21%
• 5Y*: -48.73%
• 10Y*: —

ETHD

• 1D: -3.95%
• 1M: -18.40%
• YTD: 24.55%
• 6M: 83.22%
• 1Y: -84.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LTCN vs. ETHD - Expense Ratio Comparison

LTCN has a 2.50% expense ratio, which is higher than ETHD's 1.01% expense ratio.

LTCN

Grayscale Litecoin Trust

ETHD

ProShares UltraShort Ether ETF

Return for Risk

LTCN vs. ETHD — Risk / Return Rank

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

LTCN

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

ETHD

ETHD Risk / Return Rank: 3
ETHD Sharpe Ratio Rank: 3
ETHD Sortino Ratio Rank: 4
ETHD Omega Ratio Rank: 4
ETHD Calmar Ratio Rank: 1
ETHD Martin Ratio Rank: 4

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.

LTCN vs. ETHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) 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.

	LTCN	ETHD	Difference
Sharpe ratio Return per unit of total volatility	-0.54	-0.56	+0.03
Sortino ratio Return per unit of downside risk	-0.46	-0.61	+0.15
Omega ratio Gain probability vs. loss probability	0.95	0.93	+0.02
Calmar ratio Return relative to maximum drawdown	-0.58	-0.90	+0.32
Martin ratio Return relative to average drawdown	-1.09	-1.01	-0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LTCN vs. ETHD - Sharpe Ratio Comparison

The current LTCN Sharpe Ratio is -0.54, which is comparable to the ETHD Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of LTCN and ETHD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LTCN	ETHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.54	-0.56	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	-0.41	+0.22

Correlation

The correlation between LTCN and ETHD is -0.66. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

LTCN vs. ETHD - Dividend Comparison

LTCN has not paid dividends to shareholders, while ETHD's dividend yield for the trailing twelve months is around 85.90%.

	TTM	2025	2024
LTCN Grayscale Litecoin Trust	0.00%	0.00%	0.00%
ETHD ProShares UltraShort Ether ETF	85.90%	156.62%	19.15%

Drawdowns

LTCN vs. ETHD - Drawdown Comparison

The maximum LTCN drawdown since its inception was -99.58%, roughly equal to the maximum ETHD drawdown of -95.59%. Use the drawdown chart below to compare losses from any high point for LTCN and ETHD.

Drawdown Indicators

	LTCN	ETHD	Difference
Max Drawdown Largest peak-to-trough decline	-99.58%	-95.59%	-3.99%
Max Drawdown (1Y) Largest decline over 1 year	-65.17%	-95.50%	+30.33%
Max Drawdown (5Y) Largest decline over 5 years	-99.53%	—	—
Current Drawdown Current decline from peak	-99.19%	-90.27%	-8.92%
Average Drawdown Average peak-to-trough decline	-89.32%	-63.63%	-25.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.91%	84.73%	-49.82%

Volatility

LTCN vs. ETHD - Volatility Comparison

The current volatility for Grayscale Litecoin Trust (LTCN) is 11.52%, while ProShares UltraShort Ether ETF (ETHD) has a volatility of 40.47%. This indicates that LTCN experiences smaller price fluctuations and is considered to be less risky than ETHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTCN	ETHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.52%	40.47%	-28.95%
Volatility (6M) Calculated over the trailing 6-month period	54.46%	106.90%	-52.44%
Volatility (1Y) Calculated over the trailing 1-year period	75.18%	150.88%	-75.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.22%	146.74%	-33.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.39%	146.74%	-3.35%