SOLZ vs. ETHU

Last updated Jul 9, 2026

SOLZ (Solana ETF) and ETHU (Volatility Shares 2x Ether ETF) are both exchange-traded funds - SOLZ is a Cryptocurrency fund actively managed by Volatility Shares, while ETHU is a Leveraged Cryptocurrency fund actively managed by Volatility Shares. Both are actively managed. Over the past year, SOLZ returned -53.09% vs -76.79% for ETHU. Their correlation of 0.87 suggests significant overlap in exposure. SOLZ charges 0.95%/yr vs 2.67%/yr for ETHU.

Performance

SOLZ vs. ETHU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Solana ETF (SOLZ) and Volatility Shares 2x Ether ETF (ETHU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOLZ achieves a -38.47% return, which is significantly higher than ETHU's -74.66% return.

SOLZ

• 1D: -4.91%
• 1M: 14.68%
• 6M: -43.61%
• YTD: -38.47%
• 1Y: -53.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHU

• 1D: -5.68%
• 1M: 3.63%
• 6M: -77.07%
• YTD: -74.66%
• 1Y: -76.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOLZ vs. ETHU - Yearly Performance Comparison

	2026 (YTD)	2025
SOLZ Solana ETF	-38.47%	-14.53%
ETHU Volatility Shares 2x Ether ETF	-74.66%	19.37%

Correlation

The correlation between SOLZ and ETHU is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Mar 20, 2025	0.87

The correlation between SOLZ and ETHU has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

Return for Risk

SOLZ vs. ETHU — Risk / Return Rank

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

SOLZ

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

ETHU

ETHU Risk / Return Rank: 4
ETHU Sharpe Ratio Rank: 5
ETHU Sortino Ratio Rank: 5
ETHU Omega Ratio Rank: 5
ETHU Calmar Ratio Rank: 2
ETHU Martin Ratio Rank: 4

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.

SOLZ vs. ETHU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Solana ETF (SOLZ) and Volatility Shares 2x Ether ETF (ETHU). 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.

	SOLZ	ETHU	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	-0.56	-0.16
Sortino ratio: Return per unit of downside risk	-0.91	-0.52	-0.39
Omega ratio: Gain probability vs. loss probability	0.90	0.94	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.70	-0.82	+0.12
Martin ratio: Return relative to average drawdown	-1.04	-1.13	+0.08

SOLZ vs. ETHU - Sharpe Ratio Comparison

The current SOLZ Sharpe Ratio is -0.71, which is comparable to the ETHU Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of SOLZ and ETHU, 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

SOLZ vs. ETHU - Drawdown Comparison

The maximum SOLZ drawdown since its inception was -75.68%, smaller than the maximum ETHU drawdown of -96.46%. Use the drawdown chart below to compare losses from any high point for SOLZ and ETHU.

Drawdown Indicators

	SOLZ	ETHU	Difference
Max Drawdown Largest peak-to-trough decline	-75.68%	-96.46%	+20.78%
Max Drawdown (1Y) Largest decline over 1 year	-75.68%	-93.99%	+18.31%
Current Drawdown Current decline from peak	-70.27%	-95.61%	+25.34%
Average Drawdown Average peak-to-trough decline	-36.73%	-70.43%	+33.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.89%	68.09%	-17.20%

Volatility

SOLZ vs. ETHU - Volatility Comparison

The current volatility for Solana ETF (SOLZ) is 23.12%, while Volatility Shares 2x Ether ETF (ETHU) has a volatility of 34.10%. This indicates that SOLZ experiences smaller price fluctuations and is considered to be less risky than ETHU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOLZ	ETHU	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.12%	34.10%	-10.98%
Volatility (6M) Calculated over the trailing 6-month period	52.77%	95.87%	-43.10%
Volatility (1Y) Calculated over the trailing 1-year period	74.61%	138.31%	-63.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.59%	142.71%	-66.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	76.59%	142.71%	-66.12%

SOLZ vs. ETHU - Expense Ratio Comparison

SOLZ has a 0.95% expense ratio, which is lower than ETHU's 2.67% expense ratio.

Dividends

SOLZ vs. ETHU - Dividend Comparison

SOLZ's dividend yield for the trailing twelve months is around 3.49%, less than ETHU's 5.57% yield.

Position	TTM	2025	2024
ETHU Volatility Shares 2x Ether ETF	5.57%	2.31%	0.41%
SOLZ Solana ETF	3.49%	1.75%	0.00%

Frequently Asked Questions

Can I hold both SOLZ and ETHU in my portfolio?

SOLZ and ETHU have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOLZ or ETHU?

ETHU has higher volatility (34.10%) compared to SOLZ (23.12%). In terms of maximum drawdown, SOLZ dropped -75.68% vs ETHU's -96.46%.

Which ETF is better, SOLZ or ETHU?

On 1-year performance, SOLZ leads with -53.09% vs -76.79% for ETHU. On fees, SOLZ is cheaper at 0.95% per year. On volatility, SOLZ has been the lower-risk option at 23.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOLZ or ETHU?

Over the 1-year period, SOLZ has performed better with a -53.09% return vs -76.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOLZ or ETHU?

SOLZ is cheaper with a 0.95% expense ratio, compared with 2.67% for ETHU.

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

ETHU has the higher dividend yield at 5.57%, compared with 3.49% for SOLZ.

What is the main difference between SOLZ and ETHU?

SOLZ is categorized as Cryptocurrency, while ETHU is Leveraged Cryptocurrency. Their fees differ too: 0.95% for SOLZ and 2.67% for ETHU.

Which has better risk-adjusted returns?

ETHU currently has the higher Sharpe Ratio (-0.56 vs -0.71), 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.