SATO vs. ETHD

Last updated Jun 3, 2026

SATO (Invesco Alerian Galaxy Crypto Economy ETF) and ETHD (ProShares UltraShort Ether ETF) are both Cryptocurrency funds. SATO is passively managed, while ETHD is actively managed. Over the past year, SATO returned 16.97% vs -51.92% for ETHD. At a correlation of -0.73, they often move in opposite directions. SATO charges 0.60%/yr vs 1.01%/yr for ETHD.

Performance

SATO vs. ETHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Alerian Galaxy Crypto Economy ETF (SATO) 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, SATO achieves a 6.41% return, which is significantly lower than ETHD's 47.23% return.

SATO

• 1D: -2.72%
• 1M: 5.43%
• YTD: 6.41%
• 6M: -5.78%
• 1Y: 16.97%
• 3Y*: 46.97%
• 5Y*: —
• 10Y*: —

ETHD

• 1D: 9.32%
• 1M: 43.01%
• YTD: 47.23%
• 6M: 38.52%
• 1Y: -51.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SATO vs. ETHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SATO Invesco Alerian Galaxy Crypto Economy ETF	6.41%	2.26%	42.70%
ETHD ProShares UltraShort Ether ETF	47.23%	-72.49%	-42.57%

Correlation

The correlation between SATO and ETHD is -0.73, 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	-0.73
Correlation (All Time) Calculated using the full available price history since Jun 10, 2024	-0.73

The correlation between SATO and ETHD has been stable across timeframes, ranging from -0.73 to -0.73 - a consistent structural relationship.

Return for Risk

SATO vs. ETHD — Risk / Return Rank

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

SATO

SATO Risk / Return Rank: 14
SATO Sharpe Ratio Rank: 14
SATO Sortino Ratio Rank: 17
SATO Omega Ratio Rank: 16
SATO Calmar Ratio Rank: 13
SATO Martin Ratio Rank: 11

ETHD

ETHD Risk / Return Rank: 6
ETHD Sharpe Ratio Rank: 5
ETHD Sortino Ratio Rank: 9
ETHD Omega Ratio Rank: 9
ETHD Calmar Ratio Rank: 3
ETHD Martin Ratio Rank: 5

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.

SATO vs. ETHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) 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.

	SATO	ETHD	Difference
Sharpe ratio Return per unit of total volatility	0.33	-0.38	+0.71
Sortino ratio Return per unit of downside risk	0.83	0.21	+0.61
Omega ratio Gain probability vs. loss probability	1.09	1.02	+0.07
Calmar ratio Return relative to maximum drawdown	0.35	-0.60	+0.95
Martin ratio Return relative to average drawdown	0.65	-0.76	+1.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SATO vs. ETHD - Sharpe Ratio Comparison

The current SATO Sharpe Ratio is 0.33, which is higher than the ETHD Sharpe Ratio of -0.38. The chart below compares the historical Sharpe Ratios of SATO 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.

Sharpe Ratios by Period

	SATO	ETHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	-0.38	+0.71
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	-0.37	+0.37

Drawdowns

SATO vs. ETHD - Drawdown Comparison

The maximum SATO drawdown since its inception was -88.00%, smaller than the maximum ETHD drawdown of -95.59%. Use the drawdown chart below to compare losses from any high point for SATO and ETHD.

Drawdown Indicators

	SATO	ETHD	Difference
Max Drawdown Largest peak-to-trough decline	-88.00%	-95.59%	+7.59%
Max Drawdown (1Y) Largest decline over 1 year	-53.49%	-83.63%	+30.14%
Max Drawdown (3Y) Largest decline over 3 years	-53.49%	—	—
Current Drawdown Current decline from peak	-34.80%	-88.50%	+53.70%
Average Drawdown Average peak-to-trough decline	-51.02%	-65.97%	+14.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.07%	65.92%	-36.85%

Volatility

SATO vs. ETHD - Volatility Comparison

The current volatility for Invesco Alerian Galaxy Crypto Economy ETF (SATO) is 11.41%, while ProShares UltraShort Ether ETF (ETHD) has a volatility of 18.08%. This indicates that SATO 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

	SATO	ETHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.41%	18.08%	-6.67%
Volatility (6M) Calculated over the trailing 6-month period	38.64%	93.35%	-54.71%
Volatility (1Y) Calculated over the trailing 1-year period	51.47%	135.82%	-84.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.29%	142.11%	-78.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.29%	142.11%	-78.82%

SATO vs. ETHD - Expense Ratio Comparison

SATO has a 0.60% expense ratio, which is lower than ETHD's 1.01% expense ratio.

Dividends

SATO vs. ETHD - Dividend Comparison

SATO's dividend yield for the trailing twelve months is around 7.41%, less than ETHD's 11.88% yield.

Position	TTM	2025	2024	2023	2022	2021
ETHD ProShares UltraShort Ether ETF	11.88%	156.62%	19.15%	0.00%	0.00%	0.00%
SATO Invesco Alerian Galaxy Crypto Economy ETF	7.41%	9.50%	15.03%	2.21%	8.97%	0.73%

Frequently Asked Questions

Can I hold both SATO and ETHD in my portfolio?

SATO and ETHD have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SATO or ETHD?

ETHD has higher volatility (18.08%) compared to SATO (11.41%). In terms of maximum drawdown, SATO dropped -88.00% vs ETHD's -95.59%.

Which ETF is better, SATO or ETHD?

On 1-year performance, SATO leads with 16.97% vs -51.92% for ETHD. On fees, SATO is cheaper at 0.60% per year. On volatility, SATO has been the lower-risk option at 11.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SATO or ETHD?

Over the 1-year period, SATO has performed better with a 16.97% return vs -51.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SATO or ETHD?

SATO is cheaper with a 0.60% expense ratio, compared with 1.01% for ETHD.

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

ETHD has the higher dividend yield at 11.88%, compared with 7.41% for SATO.

What is the main difference between SATO and ETHD?

They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.60% for SATO and 1.01% for ETHD.

Which has better risk-adjusted returns?

SATO currently has the higher Sharpe Ratio (0.33 vs -0.38), 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.