SBET vs. ETHE
SBET (Sharplink, Inc.) is a stock, while ETHE (Grayscale Ethereum Trust ETF) is Cryptocurrency fund tracking the CoinDesk Ether Price Index. Over the past year, SBET returned -68.56% vs -46.98% for ETHE. Their 0.39 correlation means their historical movements had little consistent relationship.
Performance
SBET vs. ETHE - Performance Comparison
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Returns By Period
In the year-to-date period, SBET achieves a -28.86% return, which is significantly higher than ETHE's -35.79% return.
SBET
- 1D
- 0.63%
- 1M
- 12.17%
- 6M
- -10.17%
- YTD
- -28.86%
- 1Y
- -68.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -27.63%
ETHE
- 1D
- 2.25%
- 1M
- 6.87%
- 6M
- -11.81%
- YTD
- -35.79%
- 1Y
- -46.98%
- 3Y*
- 11.17%
- 5Y*
- -10.68%
- 10Y*
- —
- ALL TIME*
- 12.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $27.42M | $26.51M | $33.62M | |
SBET Sharplink, Inc. | $48.97M | $50.18M | $52.09M |
SBET vs. ETHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBET Sharplink, Inc. | -28.86% | 15.65% | -45.41% |
ETHE Grayscale Ethereum Trust ETF | -35.79% | -13.03% | 29.78% |
Correlation
The correlation between SBET and ETHE 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 Feb 13, 2024 | 0.39 |
Over the past year, SBET and ETHE have become more correlated (0.85) than their long-term average of 0.39, meaning their price movements have been converging.
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Return for Risk
SBET vs. ETHE — Risk / Return Rank
SBET
ETHE
SBET vs. ETHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sharplink, Inc. (SBET) and Grayscale Ethereum Trust ETF (ETHE). 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.
| SBET | ETHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.90 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -0.69 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.13 | -1.02 | -0.11 |
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Drawdowns
SBET vs. ETHE - Drawdown Comparison
The maximum SBET drawdown since its inception was -94.24%, roughly equal to the maximum ETHE drawdown of -96.26%. Use the drawdown chart below to compare losses from any high point for SBET and ETHE.
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Drawdown Indicators
| SBET | ETHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.24% | -96.26% | +2.02% |
Max Drawdown (1Y)Largest decline over 1 year | -80.94% | -68.17% | -12.77% |
Max Drawdown (3Y)Largest decline over 3 years | — | -68.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.85% | — |
Current DrawdownCurrent decline from peak | -91.97% | -75.72% | -16.25% |
Average DrawdownAverage peak-to-trough decline | -67.48% | -72.32% | +4.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.78% | 46.13% | +14.65% |
Volatility
SBET vs. ETHE - Volatility Comparison
Sharplink, Inc. (SBET) has a higher volatility of 20.46% compared to Grayscale Ethereum Trust ETF (ETHE) at 11.42%. This indicates that SBET's price experiences larger fluctuations and is considered to be riskier than ETHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBET | ETHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.46% | 11.42% | +9.04% |
Volatility (6M)Calculated over the trailing 6-month period | 54.96% | 43.45% | +11.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.98% | 66.71% | +14.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 329.79% | 80.89% | +248.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 329.79% | 189.67% | +140.12% |
Dividends
SBET vs. ETHE - Dividend Comparison
SBET has not paid dividends to shareholders, while ETHE's dividend yield for the trailing twelve months is around 1.55%.
| Position | TTM |
|---|---|
ETHE Grayscale Ethereum Trust ETF | 1.55% |
SBET Sharplink, Inc. | 0.00% |
Frequently Asked Questions
SBET and ETHE 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.
SBET has higher volatility (20.46%) compared to ETHE (11.42%). In terms of maximum drawdown, SBET dropped -94.24% vs ETHE's -96.26%.
ETHE currently has the higher Sharpe Ratio (-0.71 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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