SETH vs. BFJL

Last updated Aug 4, 2026

SETH (ProShares Short Ether Strategy ETF) and BFJL (FT Vest Bitcoin Strategy Floor15 ETF - July) are both exchange-traded funds - SETH is a Cryptocurrency fund tracking the Bloomberg Galaxy Ethereum (--100%), while BFJL is a Defined Outcome fund tracking the iShares Bitcoin Trust ETF (IBIT). Both are passively managed. Over the past year, SETH returned 27.48% vs -14.28% for BFJL. Their -0.80 correlation means they have often moved in opposite directions in the past. SETH charges 0.95%/yr vs 0.90%/yr for BFJL.

Performance

SETH vs. BFJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Ether Strategy ETF (SETH) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SETH achieves a 29.49% return, which is significantly higher than BFJL's -4.52% return.

SETH

• 1D: -0.18%
• 1M: -10.05%
• 6M: 5.54%
• YTD: 29.49%
• 1Y: 27.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -31.12%

BFJL

• 1D: 0.62%
• 1M: 1.98%
• 6M: -0.32%
• YTD: -4.52%
• 1Y: -14.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -10.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	$5.60K	$8.34K	$5.01K
SETH ProShares Short Ether Strategy ETF	$1.09M	$1.16M	$1.85M

SETH vs. BFJL - Yearly Performance Comparison

	2026 (YTD)	2025
SETH ProShares Short Ether Strategy ETF	29.49%	-31.49%
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	-4.52%	-7.43%

Correlation

The correlation between SETH and BFJL is -0.82, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.82
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	-0.80

The correlation between SETH and BFJL has been stable across timeframes, ranging from -0.82 to -0.80 - a consistent structural relationship.

Return for Risk

SETH vs. BFJL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SETH

SETH Risk / Return Rank: 24
SETH Sharpe Ratio Rank: 20
SETH Sortino Ratio Rank: 26
SETH Omega Ratio Rank: 25
SETH Calmar Ratio Rank: 28
SETH Martin Ratio Rank: 22

BFJL

BFJL Risk / Return Rank: 3
BFJL Sharpe Ratio Rank: 1
BFJL Sortino Ratio Rank: 2
BFJL Omega Ratio Rank: 2
BFJL Calmar Ratio Rank: 4
BFJL Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SETH vs. BFJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Ether Strategy ETF (SETH) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). 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.

	SETH	BFJL	Difference
Sharpe ratio: Return per unit of total volatility	0.41	-1.09	+1.50
Sortino ratio: Return per unit of downside risk	1.00	-1.45	+2.45
Omega ratio: Gain probability vs. loss probability	1.12	0.82	+0.30
Calmar ratio: Return relative to maximum drawdown	0.93	-0.67	+1.60
Martin ratio: Return relative to average drawdown	1.60	-0.91	+2.50

SETH vs. BFJL - Sharpe Ratio Comparison

The current SETH Sharpe Ratio is 0.41, which is higher than the BFJL Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of SETH and BFJL, 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

SETH vs. BFJL - Drawdown Comparison

The maximum SETH drawdown since its inception was -80.74%, which is greater than BFJL's maximum drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for SETH and BFJL.

Drawdown Indicators

	SETH	BFJL	Difference
Max Drawdown Largest peak-to-trough decline	-80.74%	-21.27%	-59.47%
Max Drawdown (1Y) Largest decline over 1 year	-29.71%	-21.27%	-8.44%
Current Drawdown Current decline from peak	-64.43%	-18.51%	-45.92%
Average Drawdown Average peak-to-trough decline	-55.12%	-12.92%	-42.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.71%	15.79%	+1.92%

Volatility

SETH vs. BFJL - Volatility Comparison

ProShares Short Ether Strategy ETF (SETH) has a higher volatility of 12.55% compared to FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL) at 3.56%. This indicates that SETH's price experiences larger fluctuations and is considered to be riskier than BFJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SETH	BFJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.55%	3.56%	+8.99%
Volatility (6M) Calculated over the trailing 6-month period	45.56%	5.58%	+39.98%
Volatility (1Y) Calculated over the trailing 1-year period	67.05%	13.21%	+53.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.84%	13.16%	+55.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.84%	13.16%	+55.68%

SETH vs. BFJL - Expense Ratio Comparison

SETH has a 0.95% expense ratio, which is higher than BFJL's 0.90% expense ratio.

Dividends

SETH vs. BFJL - Dividend Comparison

SETH's dividend yield for the trailing twelve months is around 22.11%, more than BFJL's 1.41% yield.

Position	TTM	2025	2024	2023
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	1.41%	1.35%	0.00%	0.00%
SETH ProShares Short Ether Strategy ETF	22.11%	7.01%	3.44%	0.38%

Frequently Asked Questions

Can I hold both SETH and BFJL in my portfolio?

SETH and BFJL have a correlation of -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SETH or BFJL?

SETH has higher volatility (12.55%) compared to BFJL (3.56%). In terms of maximum drawdown, SETH dropped -80.74% vs BFJL's -21.27%.

Which ETF is better, SETH or BFJL?

On 1-year performance, SETH leads with 27.48% vs -14.28% for BFJL. On fees, BFJL is cheaper at 0.90% per year. On volatility, BFJL has been the lower-risk option at 3.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SETH or BFJL?

Over the 1-year period, SETH has performed better with a 27.48% return vs -14.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SETH or BFJL?

BFJL is cheaper with a 0.90% expense ratio, compared with 0.95% for SETH.

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

SETH has the higher dividend yield at 22.11%, compared with 1.41% for BFJL.

What is the main difference between SETH and BFJL?

SETH is categorized as Cryptocurrency, while BFJL is Defined Outcome. SETH tracks Bloomberg Galaxy Ethereum (--100%), while BFJL tracks iShares Bitcoin Trust ETF (IBIT). They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.95% for SETH and 0.90% for BFJL.

Which has better risk-adjusted returns?

SETH currently has the higher Sharpe Ratio (0.41 vs -1.09), 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.