SETH vs. CARZ
SETH (ProShares Short Ether Strategy ETF) and CARZ (First Trust NASDAQ Global Auto Index Fund) are both exchange-traded funds - SETH is a Cryptocurrency fund tracking the Bloomberg Galaxy Ethereum (--100%), while CARZ is a Consumer Discretionary Equities fund tracking the NASDAQ OMX Global Automobile (TR). Both are passively managed. Over the past year, SETH returned -1.33% vs 116.25% for CARZ. At a correlation of -0.46, they often move in opposite directions. SETH charges 0.95%/yr vs 0.70%/yr for CARZ.
Performance
SETH vs. CARZ - Performance Comparison
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Returns By Period
In the year-to-date period, SETH achieves a 40.93% return, which is significantly lower than CARZ's 57.52% return.
SETH
- 1D
- 5.62%
- 1M
- 29.74%
- YTD
- 40.93%
- 6M
- 46.51%
- 1Y
- -1.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CARZ
- 1D
- -0.37%
- 1M
- 19.08%
- YTD
- 57.52%
- 6M
- 60.74%
- 1Y
- 116.25%
- 3Y*
- 34.19%
- 5Y*
- 16.32%
- 10Y*
- 16.49%
SETH vs. CARZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SETH ProShares Short Ether Strategy ETF | 40.93% | -29.41% | -49.59% | -22.80% |
CARZ First Trust NASDAQ Global Auto Index Fund | 57.52% | 37.18% | 3.26% | 16.51% |
Correlation
The correlation between SETH and CARZ is -0.53, 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 | -0.53 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2023 | -0.46 |
The correlation between SETH and CARZ has been stable across timeframes, ranging from -0.53 to -0.46 - a consistent structural relationship.
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Return for Risk
SETH vs. CARZ — Risk / Return Rank
SETH
CARZ
SETH vs. CARZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Ether Strategy ETF (SETH) and First Trust NASDAQ Global Auto Index Fund (CARZ). 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.
| SETH | CARZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.55 | ||
| Sortino ratioReturn per unit of downside risk | -4.74 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.70 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 8.10 | -8.12 |
| Martin ratioReturn relative to average drawdown | -0.04 | 32.71 | -32.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SETH | CARZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 4.53 | -4.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.45 | 0.46 | -0.90 |
Drawdowns
SETH vs. CARZ - Drawdown Comparison
The maximum SETH drawdown since its inception was -80.74%, which is greater than CARZ's maximum drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for SETH and CARZ.
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Drawdown Indicators
| SETH | CARZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.74% | -51.20% | -29.54% |
Max Drawdown (1Y)Largest decline over 1 year | -56.01% | -14.44% | -41.57% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.84% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.20% | — |
Current DrawdownCurrent decline from peak | -61.29% | -0.37% | -60.92% |
Average DrawdownAverage peak-to-trough decline | -54.79% | -12.90% | -41.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.77% | 3.57% | +32.20% |
Volatility
SETH vs. CARZ - Volatility Comparison
ProShares Short Ether Strategy ETF (SETH) and First Trust NASDAQ Global Auto Index Fund (CARZ) have volatilities of 9.81% and 10.14%, 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.
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Volatility by Period
| SETH | CARZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.81% | 10.14% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 46.07% | 20.31% | +25.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.54% | 25.79% | +42.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.53% | 28.11% | +41.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.53% | 26.27% | +43.26% |
SETH vs. CARZ - Expense Ratio Comparison
SETH has a 0.95% expense ratio, which is higher than CARZ's 0.70% expense ratio.
Dividends
SETH vs. CARZ - Dividend Comparison
SETH's dividend yield for the trailing twelve months is around 10.91%, more than CARZ's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CARZ First Trust NASDAQ Global Auto Index Fund | 1.35% | 2.13% | 1.17% | 1.40% | 1.59% | 2.25% | 0.63% | 3.23% | 2.85% | 2.11% | 2.47% | 1.64% |
SETH ProShares Short Ether Strategy ETF | 10.91% | 7.01% | 3.44% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SETH and CARZ have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARZ has higher volatility (10.14%) compared to SETH (9.81%). In terms of maximum drawdown, SETH dropped -80.74% vs CARZ's -51.20%.
On 1-year performance, CARZ leads with 116.25% vs -1.33% for SETH. On fees, CARZ is cheaper at 0.70% per year. On volatility, SETH has been the lower-risk option at 9.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CARZ has performed better with a 116.25% return vs -1.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CARZ is cheaper with a 0.70% expense ratio, compared with 0.95% for SETH.
SETH has the higher dividend yield at 10.91%, compared with 1.35% for CARZ.
SETH is categorized as Cryptocurrency, while CARZ is Consumer Discretionary Equities. SETH tracks Bloomberg Galaxy Ethereum (--100%), while CARZ tracks NASDAQ OMX Global Automobile (TR). They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.95% for SETH and 0.70% for CARZ.
CARZ currently has the higher Sharpe Ratio (4.53 vs -0.02), 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.
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