# ETHD (ProShares UltraShort Ether ETF)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: ETHD returned −69.5% where its own daily promise gave −69.8%, 0.3 points over.

## Key facts

- ETHD, what ETHA did: +65.0%, as of Sep 30, 2026.
- ETHD, what −2 times a day gives: −69.8%, as of Sep 30, 2026.
- ETHD, what the fund returned: −69.5%, as of Sep 30, 2026.
- ETHD, the fund itself added: +0.3 pts, as of Sep 30, 2026.
- ETHD, net assets: $59m (issuer page, as of Sep 30, 2026).
- ETHD, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## ETHD over each window to Sep 30, 2026

| Window | Fund | ETHA | -2x the move | Difference | ETHA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −17.6% | +7.5% | −15.0% | −2.6 pts | 46% |
| 3 months | −69.5% | +65.0% | −130.1% | +60.5 pts | 48% |
| 6 months | −55.3% | +24.5% | −49.0% | −6.3 pts | 51% |
| 1 year | −24.9% | −36.1% | +72.3% | −97.2 pts | 64% |
| Since launch | −91.5% | −23.3% | +46.6% | −138.1 pts | 70% |

## 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 | -1.07 times, against -2 stated | ETFIQ |
| Underlying | ETHA | ETFIQ |
| Segment | asset class, crypto | ETFIQ |
| Net assets | $59m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jun 7, 2024 | ETFIQ |
| Underlying volatility over the window | 48% annualized | ETFIQ |

## Questions

### Did ETHD return -2 times ETHA?

Over the window to Sep 30, 2026, ETHA moved +65.0% and ETHD returned −69.5%. −2 times that move is −130.1%, so the fund came out 60.5 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 30, 2026. https://etfiq.com/funds/ethd
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/ethd  ·  JSON: https://etfiq.com/funds/ethd.json