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DOG vs ETHD

ProShares Short Dow30

DOGBNYSE Arca

ProShares UltraShort Ether ETF

ETHDCNYSE Arca

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

DOG0.95%ETHD0.95%

Avg volume · 30D

DOG 8.4×the volume

DOG4.77METHD570K

DOG vs ETHD Performance

Oct 31, 2025 – Oct 30, 2026

−4.9%DOG+1.5%ETHD

Oct 31, 2025 to Oct 30, 2026. DOG −4.9%. ETHD +1.5%. Use the arrow keys to read each point.50%100%150%Oct 2025Apr 2026Oct 2026
Expense ratio
DOG 0.95%
ETHD 0.95%
Fund size
DOG $115M
ETHD $64M
1Y total return
DOG −4.9%
ETHD +1.5%, better
Yield (12M)
DOG 3.15%
ETHD 18.27%, better
Holdings
DOG 3
ETHD 1
Avg volume (30D)
DOG 4.77M sh, better
ETHD 570K sh
NAV per share
DOG $22.02
ETHD $34.36
52W range

ETF.net Grade

DOG: Cost 50, Risk 65, Mission 97, Tradability 94, Holdings 43, Durability 69. ETHD: Cost 50, Risk 31, Mission 0, Tradability 59, Holdings not scored, Durability 52.
Pillar letters and Scores for DOG, ETHD, with each pillar’s weight
PillarDOGETHD
Cost30% weightC50C50
Mission25% weightA97HigherF0
Risk15% weightB65HigherD31
Tradability15% weightA94HigherB59
Holdings10% weightC43Not scored
Durability5% weightB69HigherC52

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DOG and ETHD are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

DOG ranks 1st and ETHD 25th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 24CGLLProShares UltraShort GoldScore 48
  4. Rank 25CETHDProShares UltraShort Ether ETFScore 47
  5. Rank 26CBTCZT-Rex 2X Inverse Bitcoin Daily Target ETFScore 46

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

ETHDCProShares UltraShort Ether ETF

In short

DOG The plain-vanilla short on the Dow: DOG aims to deliver the inverse of the index's move each day, with no 2x or 3x bolted on. Running since 2006, and ProShares bills it as the only -1x ETF built on the Dow.

ETHD The only ETF aiming at -2x the daily move in ether, per ProShares. It gets there with swaps and futures rather than an actual short position, resets every day, and charges 0.95%.

Stated mandate

DOG DOG seeks daily investment results, before fees and expenses, that correspond to the inverse of the Dow Jones Industrial Average's daily performance.

ETHD The fund seeks daily results equal to negative two times the daily performance of the Bloomberg Ethereum Index, before fees and expenses.

Why people hold it

  • DOG 0.95% net of a waiver through September 30, 2027 (1.00% gross), which sits near the typical fee among leveraged and inverse funds.
  • Sticks close to its daily inverse target, one of the tighter implementations in its peer group.proshares.com
  • Actively traded for an inverse fund, so getting in and back out is rarely the hard part.
  • Live since 2006, so the mechanism has run through the financial crisis, 2020 and every tape since.
  • ETHD ProShares bills it as the only -2x ether ETF on the market, and it has been live since 2024, through real crypto swings in both directions.proshares.com
  • It handles the plumbing: futures and swaps inside the fund, rebalanced daily to the -2x target. No margin account, no borrow, and the fund never shorts ether itself.proshares.comsec.gov
  • Fee is 0.95%, no waiver propping it up, near what leveraged and inverse funds typically charge. Same-index sibling SETH (-1x) also sits at 0.95% net, but net of a waiver through September 30, 2027.

Worth knowing

  • DOG The target resets every day. Hold longer than a day and the result depends on the path the Dow takes, not just its direction.proshares.com
  • If the waiver lapses after September 30, 2027, the fee steps up toward the 1.00% gross figure.
  • The Dow is 30 price-weighted names, so this is a short on a narrow, old-school slice of the market rather than the broad tape.proshares.com
  • ETHD Daily reset. Hold longer than a day and compounding takes over: results can differ a lot from -2x the index move, especially in choppy markets.proshares.com
  • ProShares says these funds should be monitored daily. Two times the inverse of a crypto price is a fast-moving position, not a set-and-forget one.proshares.com
  • Exposure runs through derivatives and counterparties, including swaps that can reference spot ether ETFs, rather than a direct short in ether.proshares.com

Full DOG profile⁠

Full ETHD profile⁠

DOG vs ETHD Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DOG vs ETHD Cost

Same expense ratio

$17,869

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DOG 0.95%

    $17,869

  • ETHD 0.95%

    $17,869

$10,000
30 years

Cost over time

  • DOG 0.95%
  • ETHD 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DOG $17,869ETHD $17,869

Year by year

YearDOGETHD
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%DOG
  • 0.95%ETHD
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

DOG 6th cheapest of 53 funds

ETHD 6th cheapest of 53 funds

DOG vs ETHD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DOG 3.15%
ETHD 18.27%, better
Payout (12M)
DOG $0.69
ETHD $6.28
Last payment
DOG $0.17
ETHD $0.19
Ex-dividend
DOG Sep 23, 2026
ETHD Oct 1, 2026
Paid on
DOG Sep 29, 2026
ETHD Oct 7, 2026
Frequency
DOG Quarterly
ETHD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DOGQuarterly · 15 paymentsAll DOG payments⁠
One bar per payment. 15 payments from 2023 to 2026 YTD. Mar 22, 2023 $0.20; Jun 21, 2023 $0.35; Sep 20, 2023 $0.39; Dec 20, 2023 $0.41; Mar 20, 2024 $0.32; Jun 26, 2024 $0.40; Sep 25, 2024 $0.36; Dec 23, 2024 $0.43; Mar 26, 2025 $0.18; Jun 25, 2025 $0.21; Sep 24, 2025 $0.21; Dec 24, 2025 $0.26; Mar 25, 2026 $0.10; Jun 24, 2026 $0.16; Sep 23, 2026 $0.17. Use the arrow keys to read each point.$0$2520232026YTD
ETHDMonthly · 20 paymentsAll ETHD payments⁠
One bar per payment. 20 payments from 2023 to 2026 YTD. Jul 1, 2024 $1.56; Aug 1, 2024 $6.80; Sep 3, 2024 $20.05; Nov 1, 2024 $8.72; Dec 2, 2024 $3.70; Apr 1, 2025 $27.32; Jun 2, 2025 $2.88; Sep 2, 2025 $0.01; Oct 1, 2025 $0.04; Nov 3, 2025 $0.04; Dec 24, 2025 $0.0071; Feb 2, 2026 $0.15; Mar 2, 2026 $1.51; Apr 1, 2026 $0.0082; May 1, 2026 $0.02; Jun 1, 2026 $0.03; Jul 1, 2026 $1.71; Aug 3, 2026 $1.74; Sep 1, 2026 $0.86; Oct 1, 2026 $0.19. Use the arrow keys to read each point.$0$2520232026YTD

DOG vs ETHD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DOG 11.7%ETHD 130.0%since Jul 2024
Return per unit of riskSharpe ratio, 3 years
DOG −1.21ETHD −0.10since Jul 2024
Worst fallMax drawdown, 5 years
DOG −37.3%ETHD −96.5%since Jun 2024
Market sensitivityBeta, 5 years
DOG −0.83ETHD −3.93

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