{
 "ticker": "ETHD",
 "name": "ProShares UltraShort Ether ETF",
 "issuer": "ProShares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/ethd",
 "html": "https://etfiq.com/funds/ethd",
 "markdown": "https://etfiq.com/funds/ethd.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: ETHD returned \u221269.5% where its own daily promise gave \u221269.8%, 0.3 points over.",
 "key_facts": [
  {
   "key": "what_etha_did",
   "label": "What ETHA did",
   "value": "+65.0%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "ETHD, what ETHA did: +65.0%, as of Sep 30, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What \u22122 times a day gives",
   "value": "\u221269.8%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "ETHD, what \u22122 times a day gives: \u221269.8%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221269.5%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "ETHD, what the fund returned: \u221269.5%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_added",
   "label": "The fund itself added",
   "value": "+0.3 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "ETHD, the fund itself added: +0.3 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$59m",
   "source": "issuer page, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "ETHD, net assets: $59m (issuer page, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "485BPOS XBRL, Sep 25, 2026",
   "as_of": "2026-09-30",
   "sentence": "ETHD, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-2 times the daily move of ETHA, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "-1.07 times, against -2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "ETHA",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "asset class, crypto",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$59m",
   "source": "issuer page, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "485BPOS XBRL, Sep 25, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jun 7, 2024",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "48% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221217.6%",
   "ETHA": "+7.5%",
   "-2x the move": "\u221215.0%",
   "Difference": "\u22122.6 pts",
   "ETHA moved about": "46%"
  },
  {
   "window": "3 months",
   "Fund": "\u221269.5%",
   "ETHA": "+65.0%",
   "-2x the move": "\u2212130.1%",
   "Difference": "+60.5 pts",
   "ETHA moved about": "48%"
  },
  {
   "window": "6 months",
   "Fund": "\u221255.3%",
   "ETHA": "+24.5%",
   "-2x the move": "\u221249.0%",
   "Difference": "\u22126.3 pts",
   "ETHA moved about": "51%"
  },
  {
   "window": "1 year",
   "Fund": "\u221224.9%",
   "ETHA": "\u221236.1%",
   "-2x the move": "+72.3%",
   "Difference": "\u221297.2 pts",
   "ETHA moved about": "64%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221291.5%",
   "ETHA": "\u221223.3%",
   "-2x the move": "+46.6%",
   "Difference": "\u2212138.1 pts",
   "ETHA moved about": "70%"
  }
 ],
 "questions": [
  {
   "q": "Did ETHD return -2 times ETHA?",
   "a": "Over the window to Sep 30, 2026, ETHA moved +65.0% and ETHD returned \u221269.5%. \u22122 times that move is \u2212130.1%, so the fund came out 60.5 points ahead of it."
  },
  {
   "q": "Why does ETHD not return -2 times over a year?",
   "a": "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."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}