SLON vs. SOLZ

Last updated Aug 2, 2026

SLON (ProShares Ultra Solana ETF) and SOLZ (Solana ETF) are both Cryptocurrency funds. SLON is passively managed, while SOLZ is actively managed. Over the past year, SLON returned -90.71% vs -59.01% for SOLZ. Their 1.00 correlation means they have historically moved very closely together. SLON charges 2.14%/yr vs 0.95%/yr for SOLZ.

Performance

SLON vs. SOLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Solana ETF (SLON) and Solana ETF (SOLZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLON achieves a -75.40% return, which is significantly lower than SOLZ's -42.02% return.

SLON

• 1D: -3.99%
• 1M: -18.94%
• 6M: -70.99%
• YTD: -75.40%
• 1Y: -90.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -89.92%

SOLZ

• 1D: -2.28%
• 1M: -9.83%
• 6M: -38.17%
• YTD: -42.02%
• 1Y: -59.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -40.24%

*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)
SLON ProShares Ultra Solana ETF	$682.69K	$868.60K	$1.20M
SOLZ Solana ETF	$4.97M	$5.51M	$8.44M

SLON vs. SOLZ - Yearly Performance Comparison

	2026 (YTD)	2025
SLON ProShares Ultra Solana ETF	-75.40%	-62.89%
SOLZ Solana ETF	-42.02%	-29.64%

Correlation

The correlation between SLON and SOLZ is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	1.00

The correlation between SLON and SOLZ has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

SLON vs. SOLZ — Risk / Return Rank

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

SLON

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

SOLZ

SOLZ Risk / Return Rank: 3
SOLZ Sharpe Ratio Rank: 3
SOLZ Sortino Ratio Rank: 2
SOLZ Omega Ratio Rank: 3
SOLZ Calmar Ratio Rank: 2
SOLZ Martin Ratio Rank: 4

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.

SLON vs. SOLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Solana ETF (SLON) and Solana ETF (SOLZ). 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.

	SLON	SOLZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	-0.84	+0.20
Sortino ratio: Return per unit of downside risk	-1.36	-1.29	-0.07
Omega ratio: Gain probability vs. loss probability	0.85	0.86	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.95	-0.81	-0.14
Martin ratio: Return relative to average drawdown	-1.19	-1.13	-0.05

SLON vs. SOLZ - Sharpe Ratio Comparison

The current SLON Sharpe Ratio is -0.63, which is comparable to the SOLZ Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of SLON and SOLZ, 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

SLON vs. SOLZ - Drawdown Comparison

The maximum SLON drawdown since its inception was -96.31%, which is greater than SOLZ's maximum drawdown of -75.68%. Use the drawdown chart below to compare losses from any high point for SLON and SOLZ.

Drawdown Indicators

	SLON	SOLZ	Difference
Max Drawdown Largest peak-to-trough decline	-96.31%	-75.68%	-20.63%
Max Drawdown (1Y) Largest decline over 1 year	-96.31%	-75.68%	-20.63%
Current Drawdown Current decline from peak	-95.38%	-71.98%	-23.40%
Average Drawdown Average peak-to-trough decline	-68.35%	-38.42%	-29.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	77.06%	54.02%	+23.04%

Volatility

SLON vs. SOLZ - Volatility Comparison

ProShares Ultra Solana ETF (SLON) has a higher volatility of 23.28% compared to Solana ETF (SOLZ) at 11.76%. This indicates that SLON's price experiences larger fluctuations and is considered to be riskier than SOLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLON	SOLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.28%	11.76%	+11.52%
Volatility (6M) Calculated over the trailing 6-month period	100.99%	50.58%	+50.41%
Volatility (1Y) Calculated over the trailing 1-year period	144.72%	73.14%	+71.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.74%	75.06%	+69.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.74%	75.06%	+69.68%

SLON vs. SOLZ - Expense Ratio Comparison

SLON has a 2.14% expense ratio, which is higher than SOLZ's 0.95% expense ratio.

Dividends

SLON vs. SOLZ - Dividend Comparison

SLON's dividend yield for the trailing twelve months is around 23.34%, more than SOLZ's 3.71% yield.

Position	TTM	2025
SLON ProShares Ultra Solana ETF	23.34%	5.74%
SOLZ Solana ETF	3.71%	1.75%

Frequently Asked Questions

Can I hold both SLON and SOLZ in my portfolio?

With a correlation of 1.00, SLON and SOLZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SLON or SOLZ?

SLON has higher volatility (23.28%) compared to SOLZ (11.76%). In terms of maximum drawdown, SLON dropped -96.31% vs SOLZ's -75.68%.

Which ETF is better, SLON or SOLZ?

On 1-year performance, SOLZ leads with -59.01% vs -90.71% for SLON. On fees, SOLZ is cheaper at 0.95% per year. On volatility, SOLZ has been the lower-risk option at 11.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLON or SOLZ?

Over the 1-year period, SOLZ has performed better with a -59.01% return vs -90.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLON or SOLZ?

SOLZ is cheaper with a 0.95% expense ratio, compared with 2.14% for SLON.

Which ETF pays a higher dividend yield, SLON or SOLZ?

SLON has the higher dividend yield at 23.34%, compared with 3.71% for SOLZ.

What is the main difference between SLON and SOLZ?

They also come from different issuers: ProShares and Volatility Shares. Their fees differ too: 2.14% for SLON and 0.95% for SOLZ.

Which has better risk-adjusted returns?

SLON currently has the higher Sharpe Ratio (-0.63 vs -0.84), 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.