ProShares Short Ether ETF (SETH) Performance
SETH total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −2.4% since Dec 31, 2025
- 1 year
- +15.8% total return
- Since first price
- −73.2% since 2023
SETH trailing returns vs SPY, QQQ, AGG
| Period | SETH total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +11.7% | +11.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −24.5% | −27.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −11.9% | −21.8% | +7.8% | +8.4% | −1.5% |
| YTD | −2.4% | −19.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.8% | −4.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionNov 2, 2023 | −73.2% | −79.3% | — | — | — |
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: SETH vs SPY
From Nov 2, 2023: SETH grew to $2,677, SPY to $18,294.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SETH returns by calendar year
0 of 2 full years positive. Best 2025 (−29.4%), worst 2024 (−49.7%). 2026 is year to date.
SETH annual returns table
| Year | SETH | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −2.4% | −46.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −29.4% | −75.0% | +17.7% | +20.8% | +7.2% |
| 2024 | −49.7% | −59.5% | +24.9% | +25.6% | +1.3% |
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.
SETH largest drawdowns
Now 73.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 2, 2023 | −80.8% | Oct 6, 2025 | not yet | 1.9 years | 3.0 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SETH risk statistics
| Statistic | Since 2023 |
|---|---|
| Annualized return | −36.6% |
| Volatility (annualized) | 66.6% |
| Sharpe ratio | -0.40 |
| Sortino ratio | -0.52 |
| Best month | +42.2% |
| Worst month | −34.6% |
| Best 12 months | +36.2% |
| Worst 12 months | −62.9% |
| Positive months | 44% |
| 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.
SETH rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 24 | −62.9% | −23.6% | +36.2% | 33% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
SETH performance overview
ProShares Short Ether ETF (SETH) returned +15.8% over the past year, with distributions reinvested. Since its first recorded price on Nov 2, 2023 it has returned −73.2%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −80.8%, from Nov 2, 2023 to Oct 6, 2025; the fund has not yet regained that high. Volatility has been 66.6% a year.
Related: SETH chart, SETH dividends. See the SETH overview for the latest quote and fund facts.
SETH performance FAQ
What is the SETH return over the past year?
SETH returned +15.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.9%.
How much would $10,000 invested in SETH be worth?
$10,000 invested in SETH at its first recorded close on November 2, 2023 would be worth about $2,677 on October 23, 2026 with distributions reinvested.
What was the worst year for SETH?
The worst calendar year was 2024, with a total return of −49.7%. The best was 2025 at −29.4%.
What is the biggest drawdown of SETH?
The largest peak-to-trough decline was −80.8% between November 2, 2023 and October 6, 2025. It has not yet recovered to that high; it is 73.2% below its peak.
How volatile is SETH?
Over the past history SETH had an annualized volatility of 66.6% and a Sharpe ratio of -0.40 (excess return over 1–3 month T-bills per unit of risk).