ETHA vs. SBET
ETHA (iShares Ethereum Trust ETF) is Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while SBET (Sharplink, Inc.) is a stock. Over the past year, ETHA returned -44.87% vs -84.64% for SBET. At a 0.48 correlation, their price movements are largely independent.
Performance
ETHA vs. SBET - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ETHA having a -37.00% return and SBET slightly higher at -35.79%.
ETHA
- 1D
- -2.69%
- 1M
- 4.36%
- 6M
- -43.09%
- YTD
- -37.00%
- 1Y
- -44.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SBET
- 1D
- -5.59%
- 1M
- 2.87%
- 6M
- -45.02%
- YTD
- -35.79%
- 1Y
- -84.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA vs. SBET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -37.00% | -11.31% | -4.89% |
SBET Sharplink, Inc. | -35.79% | 15.65% | 7.37% |
Correlation
The correlation between ETHA and SBET is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.48 |
Over the past year, ETHA and SBET have become more correlated (0.78) than their long-term average of 0.48, meaning their price movements have been converging.
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Return for Risk
ETHA vs. SBET — Risk / Return Rank
ETHA
SBET
ETHA vs. SBET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and Sharplink, Inc. (SBET). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ETHA | SBET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.51 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.76 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | -0.97 | +0.31 |
| Martin ratioReturn relative to average drawdown | -1.03 | -1.19 | +0.16 |
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Drawdowns
ETHA vs. SBET - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.91%, smaller than the maximum SBET drawdown of -94.24%. Use the drawdown chart below to compare losses from any high point for ETHA and SBET.
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Drawdown Indicators
| ETHA | SBET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.91% | -94.24% | +26.33% |
Max Drawdown (1Y)Largest decline over 1 year | -67.91% | -87.47% | +19.56% |
Current DrawdownCurrent decline from peak | -61.38% | -92.75% | +31.37% |
Average DrawdownAverage peak-to-trough decline | -34.63% | -66.91% | +32.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.55% | 71.80% | -28.25% |
Volatility
ETHA vs. SBET - Volatility Comparison
The current volatility for iShares Ethereum Trust ETF (ETHA) is 14.80%, while Sharplink, Inc. (SBET) has a volatility of 21.01%. This indicates that ETHA experiences smaller price fluctuations and is considered to be less risky than SBET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHA | SBET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.80% | 21.01% | -6.21% |
Volatility (6M)Calculated over the trailing 6-month period | 47.60% | 56.45% | -8.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.72% | 90.85% | -22.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.10% | 333.41% | -261.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.10% | 333.41% | -261.31% |
Dividends
ETHA vs. SBET - Dividend Comparison
Neither ETHA nor SBET has paid dividends to shareholders.
Frequently Asked Questions
ETHA and SBET have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBET has higher volatility (21.01%) compared to ETHA (14.80%). In terms of maximum drawdown, ETHA dropped -67.91% vs SBET's -94.24%.
ETHA currently has the higher Sharpe Ratio (-0.66 vs -0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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