# ETHD (ProShares UltraShort Ether ETF)

ProShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: ETHD returned −65.0% where its own daily promise gave −65.2%, 0.2 points over.

## Key facts

- ETHD, what ETHA did: +52.4%, as of Sep 11, 2026.
- ETHD, what −2 times a day gives: −65.2%, as of Sep 11, 2026.
- ETHD, what the fund returned: −65.0%, as of Sep 11, 2026.
- ETHD, the fund itself added: +0.2 pts, as of Sep 11, 2026.
- ETHD, net assets: $55m (issuer page, as of Sep 11, 2026).
- ETHD, expense ratio: 0.99% (485BPOS XBRL, Sep 23, 2025).

## ETHD over each window to Sep 11, 2026

| Window | Fund | ETHA | -2x the move | Difference | ETHA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −50.5% | +35.3% | −70.6% | +20.1 pts | 55% |
| 3 months | −65.0% | +52.4% | −104.9% | +39.8 pts | 51% |
| 6 months | −54.1% | +20.6% | −41.2% | −12.9 pts | 53% |
| 1 year | −7.4% | −42.8% | +85.6% | −93.0 pts | 65% |
| Since launch | −90.3% | −27.0% | +54.0% | −144.2 pts | 71% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of ETHA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.24 times, against -2 stated | ETFIQ |
| Underlying | ETHA | ETFIQ |
| Segment | asset class, crypto | ETFIQ |
| Net assets | $55m | issuer page, as of Sep 11, 2026 |
| Expense ratio | 0.99% | 485BPOS XBRL, Sep 23, 2025 |
| Launched | Jun 7, 2024 | ETFIQ |
| Underlying volatility over the window | 51% annualized | ETFIQ |

## Questions

### Did ETHD return -2 times ETHA?

Over the window to Sep 11, 2026, ETHA moved +52.4% and ETHD returned −65.0%. 2 times that move is −104.9%, so the fund came out 39.8 points ahead of it.

### Why does ETHD not return -2 times over a year?

Because it resets daily. ETHD aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, ETHD, data as of Sep 11, 2026. https://etfiq.com/funds/ETHD
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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