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 -78.84% vs -55.64% for SBET. At a 0.43 correlation, their price movements are largely independent.
Performance
ETHU vs. SBET - Performance Comparison
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Returns By Period
In the year-to-date period, ETHU achieves a -79.57% return, which is significantly lower than SBET's -48.99% return.
ETHU
- 1D
- -3.56%
- 1M
- -46.59%
- YTD
- -79.57%
- 6M
- -79.19%
- 1Y
- -78.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SBET
- 1D
- -3.39%
- 1M
- -26.21%
- YTD
- -48.99%
- 6M
- -50.43%
- 1Y
- -55.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHU vs. SBET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | -79.57% | -64.38% | -48.73% |
SBET Sharplink, Inc. | -48.99% | 15.65% | -32.24% |
Correlation
The correlation between ETHU and SBET is 0.77, 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 | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024 | 0.43 |
Over the past year, ETHU and SBET have become more correlated (0.77) than their long-term average of 0.43, 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 | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.95 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.64 | -0.20 |
| Martin ratioReturn relative to average drawdown | -1.19 | -0.81 | -0.39 |
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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% | -87.80% | -6.19% |
Current DrawdownCurrent decline from peak | -96.46% | -94.24% | -2.22% |
Average DrawdownAverage peak-to-trough decline | -70.04% | -66.29% | -3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.04% | 68.91% | -2.87% |
Volatility
ETHU vs. SBET - Volatility Comparison
Volatility Shares 2x Ether ETF (ETHU) has a higher volatility of 39.99% compared to Sharplink, Inc. (SBET) at 19.63%. 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 | 39.99% | 19.63% | +20.36% |
Volatility (6M)Calculated over the trailing 6-month period | 94.89% | 54.96% | +39.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 138.64% | 103.68% | +34.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.18% | 337.14% | -193.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 143.18% | 337.14% | -193.96% |
Dividends
ETHU vs. SBET - Dividend Comparison
ETHU's dividend yield for the trailing twelve months is around 7.17%, while SBET has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | 7.17% | 2.31% | 0.41% |
SBET Sharplink, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHU and SBET have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHU has higher volatility (39.99%) compared to SBET (19.63%). In terms of maximum drawdown, ETHU dropped -96.46% vs SBET's -94.24%.
SBET currently has the higher Sharpe Ratio (-0.54 vs -0.57), 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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