SBET vs. ETHU

Last updated Apr 2, 2026

Compare and contrast key facts about SharpLink Gaming Ltd. (SBET) and Volatility Shares 2x Ether ETF (ETHU).

ETHU is an actively managed fund by Volatility Shares. It was launched on Nov 1, 2023.

Performance

SBET vs. ETHU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SharpLink Gaming Ltd. (SBET) and Volatility Shares 2x Ether ETF (ETHU). The values are adjusted to include any dividend payments, if applicable.

SBET vs. ETHU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBET SharpLink Gaming Ltd.	-27.74%	15.65%	-29.99%
ETHU Volatility Shares 2x Ether ETF	-57.28%	-64.38%	-49.29%

Returns By Period

In the year-to-date period, SBET achieves a -27.74% return, which is significantly higher than ETHU's -57.28% return.

SBET

• 1D: 0.16%
• 1M: -12.58%
• YTD: -27.74%
• 6M: -62.81%
• 1Y: 64.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHU

• 1D: 4.30%
• 1M: 5.26%
• YTD: -57.28%
• 6M: -83.33%
• 1Y: -40.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

SBET vs. ETHU — Risk / Return Rank

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

SBET

SBET Risk / Return Rank: 71
SBET Sharpe Ratio Rank: 45
SBET Sortino Ratio Rank: 98
SBET Omega Ratio Rank: 97
SBET Calmar Ratio Rank: 61
SBET Martin Ratio Rank: 53

ETHU

ETHU Risk / Return Rank: 12
ETHU Sharpe Ratio Rank: 7
ETHU Sortino Ratio Rank: 21
ETHU Omega Ratio Rank: 19
ETHU Calmar Ratio Rank: 6
ETHU Martin Ratio Rank: 7

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.

SBET vs. ETHU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SharpLink Gaming Ltd. (SBET) and Volatility Shares 2x Ether ETF (ETHU). 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	ETHU	Difference
Sharpe ratio Return per unit of total volatility	0.13	-0.27	+0.40
Sortino ratio Return per unit of downside risk	4.76	0.62	+4.14
Omega ratio Gain probability vs. loss probability	1.64	1.07	+0.57
Calmar ratio Return relative to maximum drawdown	0.92	-0.40	+1.32
Martin ratio Return relative to average drawdown	1.12	-0.69	+1.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBET vs. ETHU - Sharpe Ratio Comparison

The current SBET Sharpe Ratio is 0.13, which is higher than the ETHU Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of SBET and ETHU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SBET	ETHU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.13	-0.27	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	-0.51	+0.41

Correlation

The correlation between SBET and ETHU is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SBET vs. ETHU - Dividend Comparison

SBET has not paid dividends to shareholders, while ETHU's dividend yield for the trailing twelve months is around 3.36%.

	TTM	2025	2024
SBET SharpLink Gaming Ltd.	0.00%	0.00%	0.00%
ETHU Volatility Shares 2x Ether ETF	3.36%	2.31%	0.41%

Drawdowns

SBET vs. ETHU - Drawdown Comparison

The maximum SBET drawdown since its inception was -92.41%, roughly equal to the maximum ETHU drawdown of -94.05%. Use the drawdown chart below to compare losses from any high point for SBET and ETHU.

Drawdown Indicators

	SBET	ETHU	Difference
Max Drawdown Largest peak-to-trough decline	-92.41%	-94.05%	+1.64%
Max Drawdown (1Y) Largest decline over 1 year	-92.41%	-89.89%	-2.52%
Current Drawdown Current decline from peak	-91.84%	-92.60%	+0.76%
Average Drawdown Average peak-to-trough decline	-63.64%	-67.26%	+3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	76.02%	51.76%	+24.26%

Volatility

SBET vs. ETHU - Volatility Comparison

The current volatility for SharpLink Gaming Ltd. (SBET) is 24.90%, while Volatility Shares 2x Ether ETF (ETHU) has a volatility of 37.78%. This indicates that SBET experiences smaller price fluctuations and is considered to be less risky than ETHU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBET	ETHU	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.90%	37.78%	-12.88%
Volatility (6M) Calculated over the trailing 6-month period	60.09%	109.38%	-49.29%
Volatility (1Y) Calculated over the trailing 1-year period	499.31%	152.42%	+346.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	354.50%	147.66%	+206.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	354.50%	147.66%	+206.84%