LTCN vs. SETH

Last updated Jul 17, 2026

LTCN (Grayscale Litecoin Trust) and SETH (ProShares Short Ether Strategy ETF) are both Cryptocurrency funds - LTCN tracks the CoinDesk Litecoin Price Index while SETH tracks the Bloomberg Galaxy Ethereum (--100%). Both are passively managed. Over the past year, LTCN returned -62.21% vs 22.27% for SETH. At a correlation of -0.62, they often move in opposite directions. LTCN charges 2.50%/yr vs 0.95%/yr for SETH.

Performance

LTCN vs. SETH - Performance Comparison

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

Returns By Period

In the year-to-date period, LTCN achieves a -44.31% return, which is significantly lower than SETH's 29.34% return.

LTCN

• 1D: 0.06%
• 1M: -4.69%
• 6M: -42.58%
• YTD: -44.31%
• 1Y: -62.21%
• 3Y*: -16.08%
• 5Y*: -45.61%
• 10Y*: —

SETH

• 1D: 2.35%
• 1M: -6.08%
• 6M: 44.18%
• YTD: 29.34%
• 1Y: 22.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LTCN vs. SETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LTCN Grayscale Litecoin Trust	-44.31%	-54.37%	-18.79%	194.50%
SETH ProShares Short Ether Strategy ETF	29.34%	-29.41%	-49.59%	-22.19%

Correlation

The correlation between LTCN and SETH is -0.76, 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	-0.76
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	-0.62

The correlation between LTCN and SETH shifts across timeframes, from -0.76 (1 year) to -0.62 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LTCN vs. SETH — Risk / Return Rank

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

LTCN

LTCN Risk / Return Rank: 2
LTCN Sharpe Ratio Rank: 2
LTCN Sortino Ratio Rank: 2
LTCN Omega Ratio Rank: 2
LTCN Calmar Ratio Rank: 2
LTCN Martin Ratio Rank: 3

SETH

SETH Risk / Return Rank: 18
SETH Sharpe Ratio Rank: 15
SETH Sortino Ratio Rank: 20
SETH Omega Ratio Rank: 19
SETH Calmar Ratio Rank: 19
SETH Martin Ratio Rank: 17

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. SETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) and ProShares Short Ether Strategy ETF (SETH). 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.

	LTCN	SETH	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	0.33	-1.26
Sortino ratio: Return per unit of downside risk	-1.53	0.91	-2.44
Omega ratio: Gain probability vs. loss probability	0.83	1.11	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.85	0.68	-1.53
Martin ratio: Return relative to average drawdown	-1.27	1.23	-2.50

LTCN vs. SETH - Sharpe Ratio Comparison

The current LTCN Sharpe Ratio is -0.93, which is lower than the SETH Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of LTCN and SETH, 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

LTCN vs. SETH - Drawdown Comparison

The maximum LTCN drawdown since its inception was -99.58%, which is greater than SETH's maximum drawdown of -80.74%. Use the drawdown chart below to compare losses from any high point for LTCN and SETH.

Drawdown Indicators

	LTCN	SETH	Difference
Max Drawdown Largest peak-to-trough decline	-99.58%	-80.74%	-18.84%
Max Drawdown (1Y) Largest decline over 1 year	-72.99%	-33.10%	-39.89%
Max Drawdown (3Y) Largest decline over 3 years	-93.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-96.93%	—	—
Current Drawdown Current decline from peak	-99.35%	-64.47%	-34.88%
Average Drawdown Average peak-to-trough decline	-89.76%	-54.94%	-34.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.17%	18.36%	+30.81%

Volatility

LTCN vs. SETH - Volatility Comparison

The current volatility for Grayscale Litecoin Trust (LTCN) is 13.07%, while ProShares Short Ether Strategy ETF (SETH) has a volatility of 14.79%. This indicates that LTCN experiences smaller price fluctuations and is considered to be less risky than SETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTCN	SETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.07%	14.79%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	41.21%	47.12%	-5.91%
Volatility (1Y) Calculated over the trailing 1-year period	67.95%	68.52%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	104.29%	69.29%	+35.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	140.88%	69.29%	+71.59%

LTCN vs. SETH - Expense Ratio Comparison

LTCN has a 2.50% expense ratio, which is higher than SETH's 0.95% expense ratio.

Dividends

LTCN vs. SETH - Dividend Comparison

LTCN has not paid dividends to shareholders, while SETH's dividend yield for the trailing twelve months is around 17.26%.

Position	TTM	2025	2024	2023
LTCN Grayscale Litecoin Trust	0.00%	0.00%	0.00%	0.00%
SETH ProShares Short Ether Strategy ETF	17.26%	7.01%	3.44%	0.38%

Frequently Asked Questions

Can I hold both LTCN and SETH in my portfolio?

LTCN and SETH have a correlation of -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LTCN or SETH?

SETH has higher volatility (14.79%) compared to LTCN (13.07%). In terms of maximum drawdown, LTCN dropped -99.58% vs SETH's -80.74%.

Which ETF is better, LTCN or SETH?

On 1-year performance, SETH leads with 22.27% vs -62.21% for LTCN. On fees, SETH is cheaper at 0.95% per year. On volatility, LTCN has been the lower-risk option at 13.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LTCN or SETH?

Over the 1-year period, SETH has performed better with a 22.27% return vs -62.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LTCN or SETH?

SETH is cheaper with a 0.95% expense ratio, compared with 2.50% for LTCN.

Which ETF pays a higher dividend yield, LTCN or SETH?

SETH has the higher dividend yield at 17.26%, compared with 0.00% for LTCN.

What is the main difference between LTCN and SETH?

LTCN tracks CoinDesk Litecoin Price Index, while SETH tracks Bloomberg Galaxy Ethereum (--100%). They also come from different issuers: Grayscale and ProShares. Their fees differ too: 2.50% for LTCN and 0.95% for SETH.

Which has better risk-adjusted returns?

SETH currently has the higher Sharpe Ratio (0.33 vs -0.93), 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.