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 Gaming Ltd.) is a stock. Over the past year, ETHA returned -32.65% vs -90.34% for SBET. At a 0.45 correlation, their price movements are largely independent.
Performance
ETHA vs. SBET - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -40.30% return, which is significantly lower than SBET's -36.02% return.
ETHA
- 1D
- -1.40%
- 1M
- -25.20%
- YTD
- -40.30%
- 6M
- -43.67%
- 1Y
- -32.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SBET
- 1D
- 3.25%
- 1M
- -24.74%
- YTD
- -36.02%
- 6M
- -48.75%
- 1Y
- -90.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA vs. SBET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -40.30% | -11.31% | -3.62% |
SBET SharpLink Gaming Ltd. | -36.02% | 15.65% | 15.22% |
Correlation
The correlation between ETHA and SBET is 0.76, 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 | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024 | 0.45 |
Over the past year, ETHA and SBET have become more correlated (0.76) than their long-term average of 0.45, 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 Gaming Ltd. (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.
| ETHA | SBET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.86 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | -1.04 | +0.52 |
| Martin ratioReturn relative to average drawdown | -0.86 | -1.25 | +0.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETHA | SBET | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.48 | -0.64 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | -0.11 | -0.31 |
Drawdowns
ETHA vs. SBET - Drawdown Comparison
The maximum ETHA drawdown since its inception was -64.02%, smaller than the maximum SBET drawdown of -93.01%. 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 | -64.02% | -93.01% | +28.99% |
Max Drawdown (1Y)Largest decline over 1 year | -63.41% | -86.97% | +23.56% |
Current DrawdownCurrent decline from peak | -63.41% | -92.78% | +29.37% |
Average DrawdownAverage peak-to-trough decline | -32.71% | -65.74% | +33.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.94% | 79.34% | -41.40% |
Volatility
ETHA vs. SBET - Volatility Comparison
The current volatility for iShares Ethereum Trust ETF (ETHA) is 9.93%, while SharpLink Gaming Ltd. (SBET) has a volatility of 19.16%. 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 | 9.93% | 19.16% | -9.23% |
Volatility (6M)Calculated over the trailing 6-month period | 45.48% | 56.16% | -10.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.51% | 143.55% | -75.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.46% | 341.14% | -268.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.46% | 341.14% | -268.68% |
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 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBET has higher volatility (19.16%) compared to ETHA (9.93%). In terms of maximum drawdown, ETHA dropped -64.02% vs SBET's -93.01%.
ETHA currently has the higher Sharpe Ratio (-0.48 vs -0.64), 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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