ETHU vs. SBET
ETHU (Volatility Shares 2x Ether ETF) is Leveraged Cryptocurrency fund actively managed by Volatility Shares, while SBET (Sharplink, Inc.) is a stock. Over the past year, ETHU returned -84.43% vs -68.56% for SBET. Their 0.44 correlation means their historical movements had little consistent relationship.
Performance
ETHU vs. SBET - Performance Comparison
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Returns By Period
In the year-to-date period, ETHU achieves a -69.84% return, which is significantly lower than SBET's -28.86% return.
ETHU
- 1D
- 4.66%
- 1M
- 11.97%
- 6M
- -39.01%
- YTD
- -69.84%
- 1Y
- -84.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -73.73%
SBET
- 1D
- 0.63%
- 1M
- 12.17%
- 6M
- -10.17%
- YTD
- -28.86%
- 1Y
- -68.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -27.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $80.70M | $83.75M | $92.10M | |
SBET Sharplink, Inc. | $48.97M | $50.18M | $52.09M |
ETHU vs. SBET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | -69.84% | -64.38% | -48.73% |
SBET Sharplink, Inc. | -28.86% | 15.65% | -32.24% |
Correlation
The correlation between ETHU and SBET is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024 | 0.44 |
Over the past year, ETHU and SBET have become more correlated (0.85) than their long-term average of 0.44, meaning their price movements have been converging.
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Return for Risk
ETHU vs. SBET — Risk / Return Rank
ETHU
SBET
ETHU vs. SBET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Ether ETF (ETHU) 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.
| ETHU | SBET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.85 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.85 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.16 | -1.13 | -0.03 |
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Drawdowns
ETHU vs. SBET - Drawdown Comparison
The maximum ETHU drawdown since its inception was -96.46%, roughly equal to the maximum SBET drawdown of -94.24%. Use the drawdown chart below to compare losses from any high point for ETHU and SBET.
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Drawdown Indicators
| ETHU | SBET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.46% | -94.24% | -2.22% |
Max Drawdown (1Y)Largest decline over 1 year | -93.99% | -80.94% | -13.05% |
Current DrawdownCurrent decline from peak | -94.78% | -91.97% | -2.81% |
Average DrawdownAverage peak-to-trough decline | -71.33% | -67.48% | -3.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.78% | 60.78% | +12.00% |
Volatility
ETHU vs. SBET - Volatility Comparison
Volatility Shares 2x Ether ETF (ETHU) has a higher volatility of 22.19% compared to Sharplink, Inc. (SBET) at 20.46%. This indicates that ETHU's price experiences larger fluctuations and is considered to be riskier 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
| ETHU | SBET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.19% | 20.46% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 87.98% | 54.96% | +33.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 134.31% | 80.98% | +53.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 140.83% | 329.79% | -188.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 140.83% | 329.79% | -188.96% |
Dividends
ETHU vs. SBET - Dividend Comparison
ETHU's dividend yield for the trailing twelve months is around 4.27%, while SBET has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | 4.27% | 2.31% | 0.41% |
SBET Sharplink, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHU and SBET have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHU has higher volatility (22.19%) compared to SBET (20.46%). In terms of maximum drawdown, ETHU dropped -96.46% vs SBET's -94.24%.
ETHU currently has the higher Sharpe Ratio (-0.63 vs -0.85), 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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