YBIT vs. SETH

Last updated Apr 2, 2026

Compare and contrast key facts about YieldMax Bitcoin Option Income Strategy ETF (YBIT) and ProShares Short Ether Strategy ETF (SETH).

YBIT and SETH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. YBIT is an actively managed fund by YieldMax. It was launched on Apr 22, 2024. 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.

Performance

YBIT vs. SETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Bitcoin Option Income Strategy ETF (YBIT) and ProShares Short Ether Strategy ETF (SETH). The values are adjusted to include any dividend payments, if applicable.

YBIT vs. SETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YBIT YieldMax Bitcoin Option Income Strategy ETF	-19.58%	-2.49%	-0.09%
SETH ProShares Short Ether Strategy ETF	20.65%	-29.41%	-23.15%

Returns By Period

In the year-to-date period, YBIT achieves a -19.58% return, which is significantly lower than SETH's 20.65% return.

YBIT

• 1D: 0.51%
• 1M: 0.83%
• YTD: -19.58%
• 6M: -36.73%
• 1Y: -16.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SETH

• 1D: -2.21%
• 1M: -7.87%
• YTD: 20.65%
• 6M: 57.31%
• 1Y: -45.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YBIT vs. SETH - Expense Ratio Comparison

YBIT has a 0.99% expense ratio, which is higher than SETH's 0.95% expense ratio.

YBIT

YieldMax Bitcoin Option Income Strategy ETF

SETH

ProShares Short Ether Strategy ETF

Return for Risk

YBIT vs. SETH — Risk / Return Rank

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

YBIT

YBIT Risk / Return Rank: 5
YBIT Sharpe Ratio Rank: 4
YBIT Sortino Ratio Rank: 5
YBIT Omega Ratio Rank: 5
YBIT Calmar Ratio Rank: 7
YBIT Martin Ratio Rank: 6

SETH

SETH Risk / Return Rank: 4
SETH Sharpe Ratio Rank: 3
SETH Sortino Ratio Rank: 4
SETH Omega Ratio Rank: 4
SETH Calmar Ratio Rank: 2
SETH Martin Ratio Rank: 6

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.

YBIT vs. SETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Bitcoin Option Income Strategy ETF (YBIT) and ProShares Short Ether Strategy ETF (SETH). 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.

	YBIT	SETH	Difference
Sharpe ratio Return per unit of total volatility	-0.45	-0.60	+0.15
Sortino ratio Return per unit of downside risk	-0.41	-0.56	+0.14
Omega ratio Gain probability vs. loss probability	0.95	0.93	+0.02
Calmar ratio Return relative to maximum drawdown	-0.33	-0.64	+0.31
Martin ratio Return relative to average drawdown	-0.74	-0.81	+0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YBIT vs. SETH - Sharpe Ratio Comparison

The current YBIT Sharpe Ratio is -0.45, which is comparable to the SETH Sharpe Ratio of -0.60. The chart below compares the historical Sharpe Ratios of YBIT and SETH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	YBIT	SETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.45	-0.60	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	-0.30	-0.52	+0.22

Correlation

The correlation between YBIT and SETH is -0.76. 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

YBIT vs. SETH - Dividend Comparison

YBIT's dividend yield for the trailing twelve months is around 103.05%, more than SETH's 11.38% yield.

	TTM	2025	2024	2023
YBIT YieldMax Bitcoin Option Income Strategy ETF	103.05%	88.33%	60.00%	0.00%
SETH ProShares Short Ether Strategy ETF	11.38%	7.01%	3.44%	0.38%

Drawdowns

YBIT vs. SETH - Drawdown Comparison

The maximum YBIT drawdown since its inception was -45.54%, smaller than the maximum SETH drawdown of -80.74%. Use the drawdown chart below to compare losses from any high point for YBIT and SETH.

Drawdown Indicators

	YBIT	SETH	Difference
Max Drawdown Largest peak-to-trough decline	-45.54%	-80.74%	+35.20%
Max Drawdown (1Y) Largest decline over 1 year	-45.54%	-75.02%	+29.48%
Current Drawdown Current decline from peak	-39.32%	-66.86%	+27.54%
Average Drawdown Average peak-to-trough decline	-13.34%	-53.84%	+40.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.97%	59.01%	-39.04%

Volatility

YBIT vs. SETH - Volatility Comparison

The current volatility for YieldMax Bitcoin Option Income Strategy ETF (YBIT) is 9.45%, while ProShares Short Ether Strategy ETF (SETH) has a volatility of 19.86%. This indicates that YBIT experiences smaller price fluctuations and is considered to be less risky than SETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YBIT	SETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.45%	19.86%	-10.41%
Volatility (6M) Calculated over the trailing 6-month period	31.43%	53.29%	-21.86%
Volatility (1Y) Calculated over the trailing 1-year period	37.31%	76.09%	-38.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.60%	71.15%	-31.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.60%	71.15%	-31.55%