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Dividend Vision

ENA-USD Crypto — Ethena

Ethena (ENA-USD)

Updated October 25, 2026.

ENA-USD is a cryptocurrency. Total return is -74.6% over the past 2.6 years, 125.4 points behind SPY at 50.8%.

ENA is the governance token of Ethana, an Ethereum-based protocol that issues USDe, a crypto-collateralized synthetic dollar designed to maintain its peg through delta-hedging its collateral with short perpetual futures positions. ENA holders govern protocol parameters, collateral types, and risk limits. The token does not currently have an established distribution schedule.

ENA-USD performance versus SPY

Total return is -74.6% over the past 2.6 years, 125.4 points behind SPY at 50.8%. Over the past year its total return — price change plus distributions reinvested — is -56.3%. Its deepest 1-year drawdown was 86.0%.

WindowTotal returnCAGR
1M-3.5%—
3M124.2%—
6M81.0%—
YTD-8.4%—
1Y-56.3%—
2Y CAGR—-26.10%
Since inception (2.6 years)-74.6%-41.50%

ENA-USD key facts

Asset type
Crypto
Asset class
Crypto
Inception date
04/02/2024
Distribution frequency
None
Last close
$0.20 (as of 2026-10-25)
Market cap
$2,789,123,072
Average volume
458,128,787

How Dividend Vision calculates returns

Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

ENA-USD risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 86.0%.

Who may consider ENA-USD — and who may not

It is a weaker fit for investors who need monthly cash flow (ENA-USD does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on ENA-USD

Tagged: Crypto.

Frequently asked questions

Does ENA-USD pay monthly?

No. ENA-USD does not currently distribute.

When does ENA-USD pay a dividend?

ENA-USD does not currently distribute.

How has ENA-USD performed?

Total return is -74.6% over the past 2.6 years, 125.4 points behind SPY at 50.8%. Over the past year its total return — price change plus distributions reinvested — is -56.3%. Its deepest 1-year drawdown was 86.0%.

DividendVision analysis is generated from public SEC filing data and may not capture every change. Review the original filing for complete information.