ETHD vs SPY
ETHD vs SPY
ProShares UltraShort Ether ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | ETHD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.99% | 0.09% | |
| AUM | $46M | $789.1B | |
| Dividend Yield | 2.58% | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | +31.86% | +13.79% | |
| 1Y Return | +11.70% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 126.6% | 15.3% | |
| Max Drawdown | -95.6% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jun 7, 2024 | Jan 22, 1993 |
ETHD vs SPY Performance
ProShares UltraShort Ether ETF (ETHD) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ETHD returned +11.70% while SPY returned +23.66%. Year to date, ETHD is up 31.86% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
ETHD has been the more volatile fund, with annualized monthly volatility of 126.6% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -95.6% for ETHD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.38. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ETHD charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, ETHD currently yields 2.58% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, ETHD or SPY?
ETHD has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, ETHD or SPY?
Over the past year ETHD returned +11.70% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), ETHD annualized -54.05% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, ETHD or SPY?
ETHD has been the more volatile fund at 126.6% annualized versus 15.3% for SPY. Worst drawdown: ETHD -95.6% vs SPY -56.5%.
Should I hold both ETHD and SPY?
ETHD and SPY have a monthly-return correlation of -0.38, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, ETHD or SPY?
ETHD yields 2.58% while SPY yields 1.01%, so ETHD currently pays the higher dividend yield.
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