TETH vs. ETHD
TETH (21Shares Ethereum ETF) and ETHD (ProShares UltraShort Ether ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, TETH returned -32.60% vs -42.20% for ETHD. At a correlation of -1.00, they often move in opposite directions.
Performance
TETH vs. ETHD - Performance Comparison
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Returns By Period
In the year-to-date period, TETH achieves a -45.15% return, which is significantly lower than ETHD's 81.43% return.
TETH
- 1D
- 3.43%
- 1M
- -19.29%
- YTD
- -45.15%
- 6M
- -44.28%
- 1Y
- -32.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHD
- 1D
- -6.34%
- 1M
- 36.59%
- YTD
- 81.43%
- 6M
- 75.78%
- 1Y
- -42.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TETH vs. ETHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TETH 21Shares Ethereum ETF | -45.15% | -11.20% | -5.86% |
ETHD ProShares UltraShort Ether ETF | 81.43% | -72.49% | -43.10% |
Correlation
The correlation between TETH and ETHD is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | -1.00 |
The correlation between TETH and ETHD has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.
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Return for Risk
TETH vs. ETHD — Risk / Return Rank
TETH
ETHD
TETH vs. ETHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum ETF (TETH) and ProShares UltraShort Ether ETF (ETHD). 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.
| TETH | ETHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.05 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.52 | +0.03 |
| Martin ratioReturn relative to average drawdown | -0.79 | -0.66 | -0.13 |
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Drawdowns
TETH vs. ETHD - Drawdown Comparison
The maximum TETH drawdown since its inception was -67.74%, smaller than the maximum ETHD drawdown of -95.59%. Use the drawdown chart below to compare losses from any high point for TETH and ETHD.
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Drawdown Indicators
| TETH | ETHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.74% | -95.59% | +27.85% |
Max Drawdown (1Y)Largest decline over 1 year | -67.74% | -82.01% | +14.27% |
Current DrawdownCurrent decline from peak | -66.33% | -85.82% | +19.49% |
Average DrawdownAverage peak-to-trough decline | -34.03% | -66.55% | +32.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.19% | 64.12% | -22.93% |
Volatility
TETH vs. ETHD - Volatility Comparison
The current volatility for 21Shares Ethereum ETF (TETH) is 20.46%, while ProShares UltraShort Ether ETF (ETHD) has a volatility of 40.69%. This indicates that TETH experiences smaller price fluctuations and is considered to be less risky than ETHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TETH | ETHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.46% | 40.69% | -20.23% |
Volatility (6M)Calculated over the trailing 6-month period | 46.69% | 92.86% | -46.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.15% | 137.68% | -68.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.18% | 142.23% | -70.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.18% | 142.23% | -70.05% |
Dividends
TETH vs. ETHD - Dividend Comparison
TETH's dividend yield for the trailing twelve months is around 0.39%, less than ETHD's 9.64% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 9.64% | 156.62% | 19.15% |
TETH 21Shares Ethereum ETF | 0.39% | 0.00% | 0.00% |
Frequently Asked Questions
TETH and ETHD have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHD has higher volatility (40.69%) compared to TETH (20.46%). In terms of maximum drawdown, TETH dropped -67.74% vs ETHD's -95.59%.
On 1-year performance, TETH leads with -32.60% vs -42.20% for ETHD. On volatility, TETH has been the lower-risk option at 20.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TETH has performed better with a -32.60% return vs -42.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHD has the higher dividend yield at 9.64%, compared with 0.39% for TETH.
They also come from different issuers: 21Shares and ProShares.
ETHD currently has the higher Sharpe Ratio (-0.31 vs -0.47), 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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