SETH vs. QLD
Compare and contrast key facts about ProShares Short Ether Strategy ETF (SETH) and ProShares Ultra QQQ (QLD).
SETH and QLD 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. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006. Both SETH and QLD 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. QLD - Performance Comparison
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SETH vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SETH ProShares Short Ether Strategy ETF | 23.38% | -29.41% | -49.59% | -22.80% |
QLD ProShares Ultra QQQ | -13.35% | 30.36% | 42.82% | 25.85% |
Returns By Period
In the year-to-date period, SETH achieves a 23.38% return, which is significantly higher than QLD's -13.35% return.
SETH
- 1D
- -3.61%
- 1M
- -11.44%
- YTD
- 23.38%
- 6M
- 54.25%
- 1Y
- -46.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLD
- 1D
- 6.72%
- 1M
- -10.26%
- YTD
- -13.35%
- 6M
- -11.03%
- 1Y
- 37.53%
- 3Y*
- 35.41%
- 5Y*
- 15.27%
- 10Y*
- 29.40%
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SETH vs. QLD - Expense Ratio Comparison
Both SETH and QLD have an expense ratio of 0.95%.
Return for Risk
SETH vs. QLD — Risk / Return Rank
SETH
QLD
SETH vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Ether Strategy ETF (SETH) and ProShares Ultra QQQ (QLD). 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 | QLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.62 | 0.84 | -1.46 |
Sortino ratioReturn per unit of downside risk | -0.59 | 1.43 | -2.03 |
Omega ratioGain probability vs. loss probability | 0.93 | 1.20 | -0.27 |
Calmar ratioReturn relative to maximum drawdown | -0.61 | 1.49 | -2.10 |
Martin ratioReturn relative to average drawdown | -0.77 | 4.88 | -5.66 |
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 | QLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | 0.84 | -1.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.51 | 0.53 | -1.04 |
Correlation
The correlation between SETH and QLD is -0.44. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SETH vs. QLD - Dividend Comparison
SETH's dividend yield for the trailing twelve months is around 11.08%, more than QLD's 0.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SETH ProShares Short Ether Strategy ETF | 11.08% | 7.01% | 3.44% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.19% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Drawdowns
SETH vs. QLD - Drawdown Comparison
The maximum SETH drawdown since its inception was -80.74%, roughly equal to the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for SETH and QLD.
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Drawdown Indicators
| SETH | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.74% | -83.13% | +2.39% |
Max Drawdown (1Y)Largest decline over 1 year | -75.02% | -25.13% | -49.89% |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.68% | — |
Current DrawdownCurrent decline from peak | -66.11% | -20.10% | -46.01% |
Average DrawdownAverage peak-to-trough decline | -53.81% | -18.30% | -35.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 58.90% | 7.67% | +51.23% |
Volatility
SETH vs. QLD - Volatility Comparison
ProShares Short Ether Strategy ETF (SETH) has a higher volatility of 20.05% compared to ProShares Ultra QQQ (QLD) at 12.96%. This indicates that SETH's price experiences larger fluctuations and is considered to be riskier than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SETH | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.05% | 12.96% | +7.09% |
Volatility (6M)Calculated over the trailing 6-month period | 53.23% | 25.55% | +27.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.10% | 44.91% | +31.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.19% | 44.77% | +26.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.19% | 44.47% | +26.72% |