HYDR vs. SBIT

Last updated Aug 2, 2026

HYDR (Global X Hydrogen ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - HYDR is a Alternative Energy Equities fund tracking the Solactive Global Hydrogen Index - Benchmark TR Net, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, HYDR returned 82.55% vs 98.77% for SBIT. Their -0.36 correlation means they have often moved in opposite directions in the past. HYDR charges 0.50%/yr vs 0.95%/yr for SBIT.

Performance

HYDR vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Hydrogen ETF (HYDR) 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, HYDR achieves a 28.48% return, which is significantly lower than SBIT's 39.44% return.

HYDR

• 1D: 0.65%
• 1M: -19.71%
• 6M: 8.17%
• YTD: 28.48%
• 1Y: 82.55%
• 3Y*: -6.24%
• 5Y*: -18.53%
• 10Y*: —
• ALL TIME*: -18.84%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HYDR Global X Hydrogen ETF	$2.92M	$2.57M	$5.93M
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M

HYDR vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYDR Global X Hydrogen ETF	28.48%	43.73%	-19.58%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-73.74%

Correlation

The correlation between HYDR and SBIT is -0.44, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.44
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.36

Return for Risk

HYDR vs. SBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HYDR

HYDR Risk / Return Rank: 47
HYDR Sharpe Ratio Rank: 51
HYDR Sortino Ratio Rank: 57
HYDR Omega Ratio Rank: 49
HYDR Calmar Ratio Rank: 41
HYDR Martin Ratio Rank: 38

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HYDR vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HYDR) 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.

	HYDR	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.27	-0.03
Sortino ratio: Return per unit of downside risk	1.96	1.95	+0.01
Omega ratio: Gain probability vs. loss probability	1.22	1.23	-0.01
Calmar ratio: Return relative to maximum drawdown	1.46	2.35	-0.89
Martin ratio: Return relative to average drawdown	3.93	5.19	-1.25

HYDR vs. SBIT - Sharpe Ratio Comparison

The current HYDR Sharpe Ratio is 1.24, which is comparable to the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of HYDR 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

HYDR vs. SBIT - Drawdown Comparison

The maximum HYDR drawdown since its inception was -89.28%, roughly equal to the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for HYDR and SBIT.

Drawdown Indicators

	HYDR	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-89.28%	-91.35%	+2.07%
Max Drawdown (1Y) Largest decline over 1 year	-49.90%	-47.94%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	-68.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-89.28%	—	—
Current Drawdown Current decline from peak	-70.50%	-77.87%	+7.37%
Average Drawdown Average peak-to-trough decline	-64.19%	-69.07%	+4.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.45%	21.67%	-3.22%

Volatility

HYDR vs. SBIT - Volatility Comparison

Global X Hydrogen ETF (HYDR) has a higher volatility of 19.14% compared to Proshares Ultrashort Bitcoin ETF (SBIT) at 18.09%. This indicates that HYDR'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

	HYDR	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.14%	18.09%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	43.18%	67.10%	-23.92%
Volatility (1Y) Calculated over the trailing 1-year period	58.47%	88.65%	-30.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.15%	96.10%	-47.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.04%	96.10%	-48.06%

HYDR vs. SBIT - Expense Ratio Comparison

HYDR has a 0.50% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

HYDR vs. SBIT - Dividend Comparison

HYDR's dividend yield for the trailing twelve months is around 3.25%, less than SBIT's 4.10% yield.

Position	TTM	2025	2024	2023	2022	2021
HYDR Global X Hydrogen ETF	3.25%	3.82%	0.40%	0.00%	0.00%	0.06%
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYDR and SBIT in my portfolio?

HYDR and SBIT have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYDR or SBIT?

HYDR has higher volatility (19.14%) compared to SBIT (18.09%). In terms of maximum drawdown, HYDR dropped -89.28% vs SBIT's -91.35%.

Which ETF is better, HYDR or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 82.55% for HYDR. On fees, HYDR is cheaper at 0.50% per year. On volatility, SBIT has been the lower-risk option at 18.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYDR or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 82.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYDR or SBIT?

HYDR is cheaper with a 0.50% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 4.03%, compared with 3.25% for HYDR.

What is the main difference between HYDR and SBIT?

HYDR is categorized as Alternative Energy Equities, while SBIT is Cryptocurrency. HYDR tracks Solactive Global Hydrogen Index - Benchmark TR Net, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Global X and ProShares. Their fees differ too: 0.50% for HYDR and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.27 vs 1.24), 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.