NEHI vs. SBIT
NEHI (NEOS Ethereum High Income ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both Cryptocurrency funds. NEHI is actively managed, while SBIT is passively managed. Their -0.92 correlation means they have often moved in opposite directions in the past. NEHI charges 0.98%/yr vs 0.95%/yr for SBIT.
Performance
NEHI vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, NEHI achieves a -34.62% return, which is significantly lower than SBIT's 35.42% return.
NEHI
- 1D
- 0.34%
- 1M
- 9.03%
- 6M
- -18.71%
- YTD
- -34.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SBIT
- 1D
- -2.88%
- 1M
- -8.74%
- 6M
- 12.84%
- YTD
- 35.42%
- 1Y
- 93.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -43.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.32M | $1.23M | $2.12M | |
| $30.10M | $32.07M | $46.36M |
NEHI vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NEHI NEOS Ethereum High Income ETF | -34.62% | -1.24% |
SBIT Proshares Ultrashort Bitcoin ETF | 35.42% | 6.72% |
Correlation
The correlation between NEHI and SBIT is -0.92, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025 | -0.92 |
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Return for Risk
NEHI vs. SBIT — Risk / Return Rank
NEHI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SBIT
NEHI vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Ethereum High Income ETF (NEHI) 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.
| NEHI | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.95 | — |
| Martin ratioReturn relative to average drawdown | — | 4.30 | — |
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Drawdowns
NEHI vs. SBIT - Drawdown Comparison
The maximum NEHI drawdown since its inception was -50.12%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for NEHI and SBIT.
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Drawdown Indicators
| NEHI | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.12% | -91.35% | +41.23% |
Max Drawdown (1Y)Largest decline over 1 year | — | -47.94% | — |
Current DrawdownCurrent decline from peak | -41.52% | -78.51% | +36.99% |
Average DrawdownAverage peak-to-trough decline | -29.67% | -69.09% | +39.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 21.71% | — |
Volatility
NEHI vs. SBIT - Volatility Comparison
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Volatility by Period
| NEHI | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 17.65% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 67.17% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 56.49% | 88.67% | -32.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.49% | 96.04% | -39.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.49% | 96.04% | -39.55% |
NEHI vs. SBIT - Expense Ratio Comparison
NEHI has a 0.98% expense ratio, which is higher than SBIT's 0.95% expense ratio.
Dividends
NEHI vs. SBIT - Dividend Comparison
NEHI's dividend yield for the trailing twelve months is around 30.56%, more than SBIT's 5.09% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
NEHI NEOS Ethereum High Income ETF | 30.56% | 2.87% | 0.00% |
SBIT Proshares Ultrashort Bitcoin ETF | 5.09% | 0.52% | 1.00% |
Frequently Asked Questions
NEHI and SBIT have a correlation of -0.92, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SBIT is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SBIT is cheaper with a 0.95% expense ratio, compared with 0.98% for NEHI.
NEHI has the higher dividend yield at 30.56%, compared with 5.09% for SBIT.
They also come from different issuers: Neos and ProShares. Their fees differ too: 0.98% for NEHI and 0.95% for SBIT.
Find the right allocation for NEHI and SBIT
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