SETH vs. CETH

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Short Ether Strategy ETF (SETH) and 21shares Core Ethereum ETF (CETH).

SETH and CETH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SETH is a passively managed fund by ProShares that tracks the performance of the Bloomberg Galaxy Ethereum (--100%). It was launched on Nov 1, 2023. CETH is a passively managed fund by 21Shares that tracks the performance of the CME CF Ether-Dollar Reference Rate. It was launched on Jul 22, 2024. Both SETH and CETH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SETH vs. CETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Ether Strategy ETF (SETH) and 21shares Core Ethereum ETF (CETH). The values are adjusted to include any dividend payments, if applicable.

SETH vs. CETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SETH ProShares Short Ether Strategy ETF	23.38%	-29.41%	-49.59%	-22.80%
CETH 21shares Core Ethereum ETF	0.00%	0.00%	0.00%	0.00%

Returns By Period

SETH

• 1D: -3.61%
• 1M: -11.44%
• YTD: 23.38%
• 6M: 54.25%
• 1Y: -46.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CETH

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SETH vs. CETH - Expense Ratio Comparison

SETH has a 0.95% expense ratio, which is higher than CETH's 0.21% expense ratio.

SETH

ProShares Short Ether Strategy ETF

CETH

21shares Core Ethereum ETF

Return for Risk

SETH vs. CETH — Risk / Return Rank

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

SETH

SETH Risk / Return Rank: 4
SETH Sharpe Ratio Rank: 3
SETH Sortino Ratio Rank: 3
SETH Omega Ratio Rank: 4
SETH Calmar Ratio Rank: 3
SETH Martin Ratio Rank: 6

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.

SETH vs. CETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Ether Strategy ETF (SETH) and 21shares Core Ethereum ETF (CETH). 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	CETH	Difference
Sharpe ratio Return per unit of total volatility	-0.62	—	—
Sortino ratio Return per unit of downside risk	-0.59	—	—
Omega ratio Gain probability vs. loss probability	0.93	—	—
Calmar ratio Return relative to maximum drawdown	-0.61	—	—
Martin ratio Return relative to average drawdown	-0.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SETH	CETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	—	—

Dividends

SETH vs. CETH - Dividend Comparison

SETH's dividend yield for the trailing twelve months is around 11.08%, while CETH has not paid dividends to shareholders.

	TTM	2025	2024	2023
SETH ProShares Short Ether Strategy ETF	11.08%	7.01%	3.44%	0.38%
CETH 21shares Core Ethereum ETF	0.00%	0.00%	0.00%	0.00%

Drawdowns

Volatility

Volatility by Period

	SETH	CETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	53.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	76.10%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.19%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.19%	—	—