Proshares UltraShort Ether ETF (ETHD) Performance
ETHD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −32.5% since Dec 31, 2025
- 1 year
- −15.7% total return
- Since first price
- −89.3% since 2024
ETHD trailing returns vs SPY, QQQ, AGG
| Period | ETHD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +22.9% | +22.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −47.8% | −51.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −34.4% | −39.7% | +7.8% | +8.4% | −1.5% |
| YTD | −32.5% | −39.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −15.7% | −24.1% | +14.4% | +15.9% | −1.1% |
| Since inceptionJun 7, 2024 | −89.3% | −92.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: ETHD vs SPY
From Jun 7, 2024: ETHD grew to $1,066, SPY to $14,652.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ETHD returns by calendar year
0 of 1 full years positive. Best 2025 (−72.5%), worst 2025 (−72.5%). 2026 is year to date.
ETHD annual returns table
| Year | ETHD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −32.5% | −75.4% | +12.3% | +15.1% | −1.0% |
| 2025 | −72.5% | −95.5% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
ETHD largest drawdowns
Now 94.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Sep 6, 2024 | −96.0% | Sep 21, 2026 | not yet | 2.0 years | 2.1 years so far |
| Jul 5, 2024 | −30.7% | Jul 19, 2024 | Aug 5, 2024 | 14 days | 31 days |
| Aug 7, 2024 | −30.3% | Aug 23, 2024 | Sep 6, 2024 | 16 days | 30 days |
| Jun 24, 2024 | −10.8% | Jul 1, 2024 | Jul 5, 2024 | 7 days | 11 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
ETHD risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −68.2% |
| Volatility (annualized) | 128.6% |
| Sharpe ratio | -0.21 |
| Sortino ratio | -0.31 |
| Best month | +93.6% |
| Worst month | −61.1% |
| Best 12 months | +10.2% |
| Worst 12 months | −92.9% |
| Positive months | 41% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
ETHD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 17 | −92.9% | −68.6% | +10.2% | 6% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
ETHD performance overview
Proshares UltraShort Ether ETF (ETHD) returned −15.7% over the past year, with distributions reinvested. Since its first recorded price on Jun 7, 2024 it has returned −89.3%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −96.0%, from Sep 6, 2024 to Sep 21, 2026; the fund has not yet regained that high. Volatility has been 128.6% a year.
Related: ETHD chart, ETHD dividends. See the ETHD overview for the latest quote and fund facts.
ETHD performance FAQ
What is the ETHD return over the past year?
ETHD returned −15.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 24.1%.
How much would $10,000 invested in ETHD be worth?
$10,000 invested in ETHD at its first recorded close on June 7, 2024 would be worth about $1,066 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of ETHD?
The largest peak-to-trough decline was −96.0% between September 6, 2024 and September 21, 2026. It has not yet recovered to that high; it is 94.7% below its peak.
How volatile is ETHD?
Over the past history ETHD had an annualized volatility of 128.6% and a Sharpe ratio of -0.21 (excess return over 1–3 month T-bills per unit of risk).