Data as of .
EVMU vs SETH: which held to its multiple?
Over three months against its own daily promise, EVMU finished 7.9 points short and SETH 0.9 points over.
ETFIQ Decay Resistance Score: SETH scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| EVMU | SETH | EVMU | SETH | EVMU | SETH | |
| 1 month | +76.2% | −28.0% | +70.6% | −35.3% | +5.6 pts | +7.3 pts |
| 3 months | +110.6% | −37.8% | +104.9% | −52.4% | +5.7 pts | +14.6 pts |
| 6 months | not published | −25.8% | not published | −20.6% | not published | −5.2 pts |
| 1 year | not published | +22.4% | not published | +42.8% | not published | −20.4 pts |
| Since launch | +33.3% | −43.0% | +47.5% | +27.0% | −14.2 pts | −70.0 pts |
| EVMU Direxion Daily Ether Bull 2X ETF Aims to return twice the daily move of ether (ETHA) | SETH ProShares Short Ether ETF Aims to return 1 times the opposite of the daily move of ether (ETHA) | |
|---|---|---|
| Issuer | Direxion | ProShares |
| Sets out to return | +2x | -1x |
| On | ETHA | ETHA |
| Segment | crypto | crypto |
| Fund returned, 3 months | +110.6% | −37.8% |
| Underlying returned, 3 months | +52.4% | +52.4% |
| What the stated multiple implies, 3 months | +104.9% | −52.4% |
| Difference from stated, 3 months | +5.7 pts | +14.6 pts |
| Fund returned, 1 year or since launch | +33.3% | +22.4% |
| Difference from stated, over that window | −14.2 pts | −20.4 pts |
| Underlying volatility | 51% | 51% |
| Difference over the days both have traded | +5.7 pts | no shared window |
| Expense ratio | 1.03% | not published |
| Launched | May 27, 2026 | Nov 2, 2023 |
EVMU in plain words
Three months to Sep 11, 2026: EVMU returned +110.6% where its own daily promise gave +118.5%, 7.9 points short. Read the multiple against the whole window instead and +2 times ETHA's 52.4% implies +104.9%, which makes EVMU look 5.7 points over. 13.6 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. EVMU aims to return +2 times ETHA's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. ETHA moved at 51% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
SETH in plain words
Three months to Sep 11, 2026: SETH returned −37.8% where its own daily promise gave −38.7%, 0.9 points over. Read the multiple against the whole window instead and −1 times ETHA's 52.4% implies −52.4%, which makes SETH look 14.6 points over. 13.7 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. SETH aims to return -1 times ETHA's move each day, then resets. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, EVMU or SETH?
- Over the window to Sep 11, 2026, EVMU finished 5.7 points from what its multiple implies and SETH finished 14.6 points from its own, so EVMU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are EVMU and SETH levered on the same thing?
- Yes. Both are levered on ether, EVMU at +2 times and SETH at -1 times the daily move.
- Which one decays faster, EVMU or SETH?
- Decay follows how much the underlying moves about. Over this window EVMU’s moved at 51% annualized and SETH’s at 51%, so EVMU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold EVMU or SETH for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, EVMU against SETH, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/EVMU-SETH Free to use with attribution; the underlying files are at Open data.