ETHB vs. SBIT

Last updated Jul 12, 2026

ETHB (iShares Staked Ethereum Trust ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both Cryptocurrency funds - ETHB tracks the CME CF Ether Dollar Reference Rate - New York Variant while SBIT tracks the Bloomberg Bitcoin Index (-200%). Both are passively managed. At a correlation of -0.93, they often move in opposite directions. ETHB charges 0.25%/yr vs 0.95%/yr for SBIT.

Performance

ETHB vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Staked Ethereum Trust ETF (ETHB) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ETHB

• 1D: 2.63%
• 1M: 6.67%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: -2.27%
• 1M: -3.83%
• 6M: 46.38%
• YTD: 36.65%
• 1Y: 112.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETHB vs. SBIT - Yearly Performance Comparison

	2026 (YTD)
ETHB iShares Staked Ethereum Trust ETF	-12.83%
SBIT Proshares Ultrashort Bitcoin ETF	9.64%

Correlation

The correlation between ETHB and SBIT is -0.93, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	-0.93

Return for Risk

ETHB vs. SBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETHB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SBIT

SBIT Risk / Return Rank: 41
SBIT Sharpe Ratio Rank: 37
SBIT Sortino Ratio Rank: 43
SBIT Omega Ratio Rank: 40
SBIT Calmar Ratio Rank: 49
SBIT Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETHB vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Staked Ethereum Trust ETF (ETHB) and Proshares Ultrashort Bitcoin ETF (SBIT). 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.

	ETHB	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.08	—
Sortino ratio: Return per unit of downside risk	—	1.80	—
Omega ratio: Gain probability vs. loss probability	—	1.21	—
Calmar ratio: Return relative to maximum drawdown	—	1.99	—
Martin ratio: Return relative to average drawdown	—	4.53	—

Drawdowns

ETHB vs. SBIT - Drawdown Comparison

The maximum ETHB drawdown since its inception was -35.92%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for ETHB and SBIT.

Drawdown Indicators

	ETHB	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-35.92%	-91.35%	+55.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-47.94%	—
Current Drawdown Current decline from peak	-26.18%	-78.31%	+52.13%
Average Drawdown Average peak-to-trough decline	-14.61%	-68.81%	+54.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	21.10%	—

Volatility

Volatility by Period

	ETHB	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	22.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	68.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	54.01%	88.69%	-34.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.01%	96.91%	-42.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.01%	96.91%	-42.90%

ETHB vs. SBIT - Expense Ratio Comparison

ETHB has a 0.25% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

ETHB vs. SBIT - Dividend Comparison

ETHB's dividend yield for the trailing twelve months is around 0.21%, less than SBIT's 4.19% yield.

Position	TTM	2025	2024
ETHB iShares Staked Ethereum Trust ETF	0.21%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	4.19%	0.52%	1.00%

Frequently Asked Questions

Can I hold both ETHB and SBIT in my portfolio?

ETHB and SBIT have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETHB or SBIT?

On fees, ETHB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETHB or SBIT?

ETHB is cheaper with a 0.25% expense ratio, compared with 0.95% for SBIT.

Which ETF pays a higher dividend yield, ETHB or SBIT?

SBIT has the higher dividend yield at 4.19%, compared with 0.21% for ETHB.

What is the main difference between ETHB and SBIT?

ETHB tracks CME CF Ether Dollar Reference Rate - New York Variant, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.25% for ETHB and 0.95% for SBIT.