# SETH (ProShares Short Ether ETF)

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

Three months to Sep 11, 2026: SETH returned −37.8% where its own daily promise gave −38.7%, 0.9 points over.

## Key facts

- SETH, what ETHA did: +52.4%, as of Sep 11, 2026.
- SETH, what −1 times a day gives: −38.7%, as of Sep 11, 2026.
- SETH, what the fund returned: −37.8%, as of Sep 11, 2026.
- SETH, the fund itself added: +0.9 pts, as of Sep 11, 2026.
- SETH, net assets: $20m (source, as filed for May 31, 2026).
- SETH, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## SETH over each window to Sep 11, 2026

| Window | Fund | ETHA | -1x the move | Difference | ETHA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −28.0% | +35.3% | −35.3% | +7.3 pts | 55% |
| 3 months | −37.8% | +52.4% | −52.4% | +14.6 pts | 51% |
| 6 months | −25.8% | +20.6% | −20.6% | −5.2 pts | 53% |
| 1 year | +22.4% | −42.8% | +42.8% | −20.4 pts | 65% |
| Since launch | −43.0% | −27.0% | +27.0% | −70.0 pts | 71% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of ETHA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -0.72 times, against -1 stated | ETFIQ |
| Underlying | ETHA | ETFIQ |
| Segment | asset class, crypto | ETFIQ |
| Net assets | $20m | source, as filed for May 31, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Nov 2, 2023 | ETFIQ |
| Underlying volatility over the window | 51% annualized | ETFIQ |

## Questions

### Did SETH return -1 times ETHA?

Over the window to Sep 11, 2026, ETHA moved +52.4% and SETH returned −37.8%. 1 times that move is −52.4%, so the fund came out 14.6 points ahead of it.

### Why does SETH not return -1 times over a year?

Because it resets daily. SETH aims at -1 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 -1 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, SETH, data as of Sep 11, 2026. https://etfiq.com/funds/SETH
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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