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ETHT vs EVMU

ProShares Ultra Ether ETF

ETHTANYSE Arca

Direxion Daily Ether Bull 2X ETF

EVMUCNYSE Arca

Overlap

Expense ratio

ETHT −0.07pt a year

ETHT0.96%EVMU1.03%

Avg volume · 30D

ETHT 339.8×the volume

ETHT1.72MEVMU5.06K

ETHT vs EVMU Performance

Jul 31, 2026 – Oct 30, 2026

+29.8%ETHT+30.8%EVMU

Jul 31, 2026 to Oct 30, 2026. ETHT +29.8%. EVMU +30.8%. Use the arrow keys to read each point.0%60%80%100%Jul 2026Sep 2026Oct 2026
Expense ratio
ETHT 0.96%, better
EVMU 1.03%
Fund size
ETHT $213M
EVMU $2M
1Y total return
ETHT −82.1%
EVMU No data
Yield (12M)
ETHT 1.74%
EVMU No data
Holdings
ETHT 1
EVMU 9
Avg volume (30D)
ETHT 1.72M sh, better
EVMU 5.06K sh
NAV per share
ETHT $13.05
EVMU $26.33
52W range

ETF.net Grade

ETHT: Cost 91, Risk 51, Mission 0, Tradability 74, Holdings not scored, Durability 72. EVMU: Cost 75, Risk 89, Mission not scored, Tradability 10, Holdings not scored, Durability 21.
Pillar letters and Scores for ETHT, EVMU, with each pillar’s weight
PillarETHTEVMU
Cost30% weightA91HigherA75
Mission25% weightF0Not scored
Risk15% weightC51A89Higher
Tradability15% weightA74HigherF10
Holdings10% weightNot scoredNot scored
Durability5% weightA72HigherF21

Rank among 2x Long Crypto funds

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

Same Category. ETHT and EVMU are both graded against the same 14 2x Long Crypto funds, so their Grades compare head to head.

2x Long Crypto⁠

Category · 14 funds
See all 14 ›

ETHT ranks 2nd and EVMU 9th of 14 funds in the 2x Long Crypto Category.

  1. Rank 1ABITUProShares Ultra Bitcoin ETFScore 82
  2. Rank 2AETHTProShares Ultra Ether ETFScore 76
  3. Rank 3BBTCLT-Rex 2X Long Bitcoin Daily Target ETFScore 65
  4. Rank 7CSLONProShares Ultra Solana ETFScore 45
  5. Rank 9CEVMUDirexion Daily Ether Bull 2X ETFScore 40
  6. Rank 9CTXXH21Shares 2x Long HYPE ETFScore 40

Our read on each fund

ETF.net Research

ETHTAProShares Ultra Ether ETF

EVMUCDirexion Daily Ether Bull 2X ETF

In short

ETHT ProShares opened the US market for leveraged ether in June 2024, and it runs the low-cost version: 0.96% to target twice ether's daily move, below the typical fee among 2x crypto funds.

EVMU Direxion's 2026 entry in leveraged crypto: swaps on a spot ether fund rather than futures, aiming for 200% of ether's daily price move. Fee is 1.03% net of a waiver through September 1, 2027, below the typical cost in its category.

Stated mandate

ETHT The fund seeks daily investment results equal to twice the daily performance of ether, before fees and expenses.

EVMU The fund seeks daily investment results, before fees and expenses, equal to 200% of ether's price performance.

Why people hold it

  • ETHT The original. It listed June 7, 2024 alongside a -2x twin as the first US ETFs built to target twice ether's daily move.businesswire.com
  • At 0.96%, with no fee waiver involved, it costs far less than ETHU, the other 2x ether fund in the group, at 2.97%.
  • One of the stronger builds in its leveraged-crypto peer group, and actively traded, so entering and exiting doesn't hinge on a thin market.
  • No wallet, no keys. It's a registered 1940 Act ETF that gets its exposure from derivatives and does not invest directly in ether.proshares.com
  • EVMU Aims for 200% of ether's daily price move via swaps referencing a spot ether ETF (ETHA), so the exposure sits on spot ether, not a futures curve.direxion.com
  • Costs 1.03% net of a waiver through September 1, 2027 (1.05% gross), below the median fee among leveraged crypto bull funds.
  • A registered 1940 Act fund: 2x ether exposure in an ordinary brokerage account, no crypto wallet or futures account needed.direxion.com

Worth knowing

  • ETHT The 2x target resets daily. Over periods longer than a single day, returns will likely differ from that daily target, per the prospectus.proshares.com
  • Leverage cuts both ways: on a down day for ether, the fund should lose roughly twice as much as the index it tracks.proshares.com
  • The track record starts in June 2024, so there is less history here than for most ETFs when judging behavior across market cycles.
  • EVMU The 2x target resets every day. Held longer, results can drift from twice ether's move, and choppy stretches work against it.direxion.com
  • Small asset base and light trading volume, so spreads can run wider than at the category's largest names.
  • ProShares' ETHT charges 0.96% with no waiver attached, a slimmer fee for 2x daily ether exposure.

Full ETHT profile⁠

Full EVMU profile⁠

ETHT vs EVMU 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.

ETHT vs EVMU Cost

Overpaying EVMU vs ETHT

$1,139

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

  • ETHT 0.96%

    $18,034

  • EVMU 1.03%

    $19,173

$10,000
30 years

Cost over time

  • ETHT 0.96%
  • EVMU 1.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530EVMU $19,173ETHT $18,034

Year by year

YearETHTEVMUOverpaying
10$1,695$1,814$119
20$6,383$6,807$424
30$18,034$19,173$1,139

Expense ratio

  • 0.96%ETHT, cheaper
  • 1.03%EVMU
  • Middle half of 2x Long Crypto funds
  • Median 2.02%

ETHT 3rd cheapest of 14 funds

EVMU 4th cheapest of 14 funds

ETHT vs EVMU Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ETHT 1.74%
EVMU No data
Payout (12M)
ETHT $0.23
EVMU No data
Last payment
ETHT $0.01
EVMU $0.21
Ex-dividend
ETHT Oct 1, 2026
EVMU Sep 22, 2026
Paid on
ETHT Oct 7, 2026
EVMU Sep 29, 2026
Frequency
ETHT Monthly
EVMU Quarterly

Distribution history

Per share, 2024 to 2026, same scale for both

ETHTMonthly · 15 paymentsAll ETHT payments⁠
One bar per payment. 15 payments from 2024 to 2026 YTD. Sep 3, 2024 $0.0038; Dec 23, 2024 $0.01; Sep 2, 2025 $1.60; Nov 3, 2025 $0.0082; Dec 1, 2025 $0.03; Dec 24, 2025 $0.08; Feb 2, 2026 $0.02; Mar 2, 2026 $0.02; Apr 1, 2026 $0.0057; May 1, 2026 $0.0044; Jun 1, 2026 $0.01; Jul 1, 2026 $0.01; Aug 3, 2026 $0.01; Sep 1, 2026 $0.0087; Oct 1, 2026 $0.01. Use the arrow keys to read each point.$0$12026YTD
EVMUQuarterly · 2 paymentsAll EVMU payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Jun 23, 2026 $0.05; Sep 22, 2026 $0.21. Use the arrow keys to read each point.$0$12026YTD

ETHT vs EVMU Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ETHT 153.7%since Jul 2024EVMU No data
Return per unit of riskSharpe ratio, 3 years
ETHT −0.03since Jul 2024EVMU No data
Worst fallMax drawdown, 5 years
ETHT −96.0%since Jun 2024EVMU No data
Market sensitivityBeta, 5 years
ETHT 5.26EVMU 0.00

ETHT and EVMU in the news

All news⁠

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