ETU vs. SBIT

Last updated Jul 17, 2026

ETU (T-Rex 2X Long Ether Daily Target ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - ETU is a Leveraged Cryptocurrency fund actively managed by REX Shares, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). ETU is actively managed, while SBIT is passively managed. Over the past year, ETU returned -83.52% vs 114.31% for SBIT. At a correlation of -0.82, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

ETU vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Ether Daily Target ETF (ETU) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETU achieves a -70.86% return, which is significantly lower than SBIT's 34.55% return.

ETU

• 1D: -5.08%
• 1M: 6.19%
• 6M: -76.03%
• YTD: -70.86%
• 1Y: -83.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 2.17%
• 1M: 1.59%
• 6M: 61.94%
• YTD: 34.55%
• 1Y: 114.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETU vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETU T-Rex 2X Long Ether Daily Target ETF	-70.86%	-62.44%	53.26%
SBIT Proshares Ultrashort Bitcoin ETF	34.55%	-25.11%	-58.31%

Correlation

The correlation between ETU and SBIT is -0.89, 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 (1Y) Calculated over the trailing 1-year period	-0.89
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	-0.82

The correlation between ETU and SBIT has been stable across timeframes, ranging from -0.89 to -0.82 - a consistent structural relationship.

Return for Risk

ETU vs. SBIT — Risk / Return Rank

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

ETU

ETU Risk / Return Rank: 3
ETU Sharpe Ratio Rank: 4
ETU Sortino Ratio Rank: 4
ETU Omega Ratio Rank: 4
ETU Calmar Ratio Rank: 1
ETU Martin Ratio Rank: 3

SBIT

SBIT Risk / Return Rank: 48
SBIT Sharpe Ratio Rank: 45
SBIT Sortino Ratio Rank: 48
SBIT Omega Ratio Rank: 44
SBIT Calmar Ratio Rank: 60
SBIT Martin Ratio Rank: 42

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.

ETU vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Ether Daily Target ETF (ETU) 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.

	ETU	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	1.30	-1.92
Sortino ratio: Return per unit of downside risk	-0.92	1.97	-2.89
Omega ratio: Gain probability vs. loss probability	0.90	1.24	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.89	2.40	-3.29
Martin ratio: Return relative to average drawdown	-1.20	5.42	-6.63

ETU vs. SBIT - Sharpe Ratio Comparison

The current ETU Sharpe Ratio is -0.62, which is lower than the SBIT Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of ETU and SBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETU vs. SBIT - Drawdown Comparison

The maximum ETU drawdown since its inception was -95.01%, roughly equal to the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for ETU and SBIT.

Drawdown Indicators

	ETU	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-95.01%	-91.35%	-3.66%
Max Drawdown (1Y) Largest decline over 1 year	-93.91%	-47.94%	-45.97%
Current Drawdown Current decline from peak	-92.91%	-78.65%	-14.26%
Average Drawdown Average peak-to-trough decline	-64.37%	-68.88%	+4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	69.30%	21.17%	+48.13%

Volatility

ETU vs. SBIT - Volatility Comparison

T-Rex 2X Long Ether Daily Target ETF (ETU) has a higher volatility of 28.79% compared to Proshares Ultrashort Bitcoin ETF (SBIT) at 21.57%. This indicates that ETU's price experiences larger fluctuations and is considered to be riskier than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETU	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.79%	21.57%	+7.22%
Volatility (6M) Calculated over the trailing 6-month period	95.84%	68.96%	+26.88%
Volatility (1Y) Calculated over the trailing 1-year period	136.61%	88.50%	+48.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.86%	96.78%	+48.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.86%	96.78%	+48.08%

ETU vs. SBIT - Expense Ratio Comparison

Both ETU and SBIT have an expense ratio of 0.95%.

Dividends

ETU vs. SBIT - Dividend Comparison

ETU's dividend yield for the trailing twelve months is around 0.01%, less than SBIT's 4.25% yield.

Position	TTM	2025	2024
ETU T-Rex 2X Long Ether Daily Target ETF	0.01%	0.00%	0.05%
SBIT Proshares Ultrashort Bitcoin ETF	4.25%	0.52%	1.00%

Frequently Asked Questions

Can I hold both ETU and SBIT in my portfolio?

ETU and SBIT have a correlation of -0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETU or SBIT?

ETU has higher volatility (28.79%) compared to SBIT (21.57%). In terms of maximum drawdown, ETU dropped -95.01% vs SBIT's -91.35%.

Which ETF is better, ETU or SBIT?

On 1-year performance, SBIT leads with 114.31% vs -83.52% for ETU. Both ETFs have the same 0.95% expense ratio. On volatility, SBIT has been the lower-risk option at 21.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETU or SBIT?

Over the 1-year period, SBIT has performed better with a 114.31% return vs -83.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETU or SBIT?

ETU and SBIT have the same expense ratio: 0.95% per year.

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

SBIT has the higher dividend yield at 4.25%, compared with 0.01% for ETU.

What is the main difference between ETU and SBIT?

ETU is categorized as Leveraged Cryptocurrency, while SBIT is Cryptocurrency. They also come from different issuers: REX Shares and ProShares.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.30 vs -0.62), 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.