SETH vs. ETH-USD
SETH (ProShares Short Ether Strategy ETF) is Cryptocurrency fund tracking the Bloomberg Galaxy Ethereum (--100%), while ETH-USD (Ethereum) is a cryptocurrency. Over the past year, SETH returned 27.71% vs -44.85% for ETH-USD. Their -0.69 correlation means they have often moved in opposite directions in the past.
Performance
SETH vs. ETH-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SETH achieves a 29.72% return, which is significantly higher than ETH-USD's -36.94% return.
SETH
- 1D
- 3.07%
- 1M
- -9.89%
- 6M
- 19.58%
- YTD
- 29.72%
- 1Y
- 27.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -31.15%
ETH-USD
- 1D
- 1.51%
- 1M
- 6.54%
- 6M
- -17.51%
- YTD
- -36.94%
- 1Y
- -44.85%
- 3Y*
- 0.66%
- 5Y*
- -5.69%
- 10Y*
- 66.66%
- ALL TIME*
- 79.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ETH-USD Ethereum | $18.30T | $18.49T | $25.83T |
| $1.13M | $1.17M | $1.89M |
SETH vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SETH ProShares Short Ether Strategy ETF | 29.72% | -29.41% | -49.59% | -22.19% |
ETH-USD Ethereum | -36.94% | -10.91% | 46.00% | 23.45% |
Correlation
The correlation between SETH and ETH-USD is -0.72, 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. | -0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | -0.69 |
The correlation between SETH and ETH-USD has been stable across timeframes, ranging from -0.72 to -0.69 - a consistent structural relationship.
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Return for Risk
SETH vs. ETH-USD — Risk / Return Rank
SETH
ETH-USD
SETH vs. ETH-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Ether Strategy ETF (SETH) and Ethereum (ETH-USD). 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 | ETH-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.92 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | -0.66 | +1.83 |
| Martin ratioReturn relative to average drawdown | 2.03 | -0.98 | +3.01 |
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Drawdowns
SETH vs. ETH-USD - Drawdown Comparison
The maximum SETH drawdown since its inception was -80.74%, smaller than the maximum ETH-USD drawdown of -94.01%. Use the drawdown chart below to compare losses from any high point for SETH and ETH-USD.
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Drawdown Indicators
| SETH | ETH-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.74% | -94.01% | +13.27% |
Max Drawdown (1Y)Largest decline over 1 year | -30.96% | -67.60% | +36.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | -67.60% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -79.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -94.01% | — |
Current DrawdownCurrent decline from peak | -64.37% | -61.27% | -3.10% |
Average DrawdownAverage peak-to-trough decline | -55.10% | -51.05% | -4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.67% | 34.91% | -17.24% |
Volatility
SETH vs. ETH-USD - Volatility Comparison
ProShares Short Ether Strategy ETF (SETH) has a higher volatility of 13.41% compared to Ethereum (ETH-USD) at 11.59%. This indicates that SETH's price experiences larger fluctuations and is considered to be riskier than ETH-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SETH | ETH-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.41% | 11.59% | +1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 45.76% | 43.68% | +2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.20% | 54.71% | +12.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.89% | 58.51% | +10.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.89% | 76.01% | -7.12% |
Frequently Asked Questions
SETH and ETH-USD have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SETH has higher volatility (13.41%) compared to ETH-USD (11.59%). In terms of maximum drawdown, SETH dropped -80.74% vs ETH-USD's -94.01%.
SETH currently has the higher Sharpe Ratio (0.54 vs -0.68), 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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