ETF Evaluator:
ProShares Short Ether ETF ()
Follow This ETF
(as of Nov 13)
Best Performing in Digital Assets Over the Last Year
| 212.0% | The Zcash ETF (ZCSH) |
| 100.3% | Grayscale Near Trust (GSNR) |
| 26.6% | ProShares Short Ether ETF (SETH) |
| 11.5% | Horizon Kinetics Blockchain Dev ETF (BCDF) |
| 8.6% | Simplify US Equity PLUS Bitcoin Stgy ETF (SPBC) |
Risk
Index
Risk
Index
ETF Details
ProShares Short Ether ETF Overview
ProShares Short Ether ETF (SETH) is a passively managed Miscellaneous Digital Assets exchange-traded fund (ETF). ProShares launched the ETF in 2023.
The investment seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Bloomberg Ethereum Index.
The index is designed to measure the performance of a single ether traded in USD and seeks to provide a proxy for the ether market. The digital asset trading platforms included in the index are reevaluated quarterly. The fund is non-diversified.
About ProShares Short Ether ETF (SETH)
There are 2 members of the management team with an average tenure of 3.00 years: Alexander Ilyasov (2023) and George Banian (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg Ethereum TR USD index with a weighting of -100%. ProShares Short Ether ETF has 5 securities in its portfolio. The top 10 holdings constitute 159.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares Short Ether ETF is part of the Other global asset class and is within the Miscellaneous ETF group. ProShares Short Ether ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares Short Ether ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $8 million in total assets, which is below the $809 million average for the Digital Assets category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SETH Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares Short Ether ETF expense ratio is high compared to funds in the Digital Assets category. ProShares Short Ether ETF has an expense ratio of 0.95%, which is 12% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares Short Ether ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 72% for the Digital Assets category.
Recently, in the month of October 2026, ProShares Short Ether ETF returned 18.6%, which earned it a grade of A, as the Digital Assets category had an average return of -12.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares Short Ether ETF has a trailing yield of 27.55%, which is above the 10.21% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProShares Short Ether ETF Grades
Year to date, the ETF has returned 4.8%, 21.1 percentage points better than the category, which translates into a grade of A. The fund has returned 26.6% over the past year (grade of A).
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SETH Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SETH Return (NAV) | 18.6% | -19.5% | 26.6% | na | na | na |
| SETH Return (Price) | 18.7% | -19.5% | 26.4% | -32.9% | na | na |
| NAV +/- Price Return | -0.027% | 0.040% | 0.177% | na | na | na |
| Digital Assets Avg | -12.1% | 19.4% | -29.0% | 13.3% | -17.0% | 57.0% |
| SETH Grade (NAV) | A | F | A | na | na | na |
| +/- Category (NAV) | 30.7% | -38.9% | 55.5% | na | na | na |
| SETH Tax-Cost Ratio | na | na | 7.7% | na | na | na |
SETH Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SETH Return (NAV) | 4.8% | -29.3% | -49.7% | na | na | na | na | na | na | na | na |
| SETH Return (Price) | 4.6% | -29.4% | -49.6% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.029% | 0.005% | -0.002% | na | na | na | na | na | na | na | na |
| Digital Assets Avg | -16.3% | -5.9% | 61.5% | 126.8% | -72.8% | 199.4% | 175.1% | 11.8% | -81.4% | 1391.4% | 119.9% |
| SETH Grade (NAV) | A | D | F | na | na | na | na | na | na | na | na |
| +/- Category | 21.1% | -23.4% | -111.1% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 27.6% |
| Total Assets: | $ 8 Mil |
| Share Class Assets: | $ 8 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.95% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg Ethereum TR USD |
| Index Weighting: | -100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 3.0 years | |||
| Average Tenure: 3.0 years | |||
| Managers (Year): Ilyasov Alexander (2023), Banian George (2023) | |||
Portfolio Composition (as of 10/30/26)
| # of Holdings: | 5 |
| % in Top 10 Holdings: | 159.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 100.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | November 1, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.95% (Rating: High) |
| Category Average Expense Ratio (%): | 0.85% |
