SBET vs. ETHE
SBET (SharpLink Gaming Ltd.) is a stock, while ETHE (Grayscale Ethereum Trust ETF) is Cryptocurrency fund tracking the CoinDesk Ether Price Index . Over the past year, SBET returned -88.98% vs -32.48% for ETHE. At a 0.37 correlation, their price movements are largely independent.
Performance
SBET vs. ETHE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SBET having a -38.03% return and ETHE slightly lower at -39.63%.
SBET
- 1D
- -4.65%
- 1M
- -26.82%
- YTD
- -38.03%
- 6M
- -47.69%
- 1Y
- -88.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHE
- 1D
- -5.64%
- 1M
- -23.64%
- YTD
- -39.63%
- 6M
- -42.89%
- 1Y
- -32.48%
- 3Y*
- 19.37%
- 5Y*
- -11.60%
- 10Y*
- —
SBET vs. ETHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBET SharpLink Gaming Ltd. | -38.03% | 15.65% | -52.63% |
ETHE Grayscale Ethereum Trust ETF | -39.63% | -13.03% | 31.92% |
Correlation
The correlation between SBET and ETHE is 0.76, 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 | 0.76 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2024 | 0.37 |
Over the past year, SBET and ETHE have become more correlated (0.76) than their long-term average of 0.37, 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 Gaming Ltd. (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.
| SBET | ETHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.96 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.52 | -0.47 |
| Martin ratioReturn relative to average drawdown | -1.12 | -0.86 | -0.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SBET | ETHE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | -0.48 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.14 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.06 | -0.17 |
Drawdowns
SBET vs. ETHE - Drawdown Comparison
The maximum SBET drawdown since its inception was -93.01%, 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 | -93.01% | -96.26% | +3.25% |
Max Drawdown (1Y)Largest decline over 1 year | -90.64% | -63.16% | -27.48% |
Max Drawdown (3Y)Largest decline over 3 years | — | -66.12% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.85% | — |
Current DrawdownCurrent decline from peak | -93.01% | -77.17% | -15.84% |
Average DrawdownAverage peak-to-trough decline | -65.70% | -72.23% | +6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 79.14% | 37.98% | +41.16% |
Volatility
SBET vs. ETHE - Volatility Comparison
SharpLink Gaming Ltd. (SBET) has a higher volatility of 18.65% compared to Grayscale Ethereum Trust ETF (ETHE) at 9.87%. 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 | 18.65% | 9.87% | +8.78% |
Volatility (6M)Calculated over the trailing 6-month period | 56.20% | 46.00% | +10.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 143.78% | 68.31% | +75.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 341.43% | 82.26% | +259.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 341.43% | 191.84% | +149.59% |
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 1.35%.
| Position | TTM |
|---|---|
ETHE Grayscale Ethereum Trust ETF | 1.35% |
SBET SharpLink Gaming Ltd. | 0.00% |
Frequently Asked Questions
SBET and ETHE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBET has higher volatility (18.65%) compared to ETHE (9.87%). In terms of maximum drawdown, SBET dropped -93.01% vs ETHE's -96.26%.
ETHE currently has the higher Sharpe Ratio (-0.48 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.
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