SBET vs. ETHU
SBET (SharpLink Gaming Ltd.) is a stock, while ETHU (Volatility Shares 2x Ether ETF) is Cryptocurrency fund actively managed by Volatility Shares. Over the past year, SBET returned -88.98% vs -75.44% for ETHU. At a 0.42 correlation, their price movements are largely independent.
Performance
SBET vs. ETHU - Performance Comparison
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Returns By Period
In the year-to-date period, SBET achieves a -38.03% return, which is significantly higher than ETHU's -71.31% return.
SBET
- 1D
- -4.65%
- 1M
- -26.82%
- YTD
- -38.03%
- 6M
- -47.69%
- 1Y
- -88.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHU
- 1D
- -11.44%
- 1M
- -43.11%
- YTD
- -71.31%
- 6M
- -75.18%
- 1Y
- -75.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SBET vs. ETHU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBET SharpLink Gaming Ltd. | -38.03% | 15.65% | -29.99% |
ETHU Volatility Shares 2x Ether ETF | -71.31% | -64.38% | -49.29% |
Correlation
The correlation between SBET and ETHU 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 Jun 5, 2024 | 0.42 |
Over the past year, SBET and ETHU have become more correlated (0.76) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
SBET vs. ETHU — Risk / Return Rank
SBET
ETHU
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 ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.95 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.83 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.12 | -1.21 | +0.09 |
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 | ETHU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | -0.55 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | -0.54 | +0.43 |
Drawdowns
SBET vs. ETHU - Drawdown Comparison
The maximum SBET drawdown since its inception was -93.01%, roughly equal to the maximum ETHU drawdown of -95.03%. Use the drawdown chart below to compare losses from any high point for SBET and ETHU.
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Drawdown Indicators
| SBET | ETHU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.01% | -95.03% | +2.02% |
Max Drawdown (1Y)Largest decline over 1 year | -90.64% | -91.56% | +0.92% |
Current DrawdownCurrent decline from peak | -93.01% | -95.03% | +2.02% |
Average DrawdownAverage peak-to-trough decline | -65.70% | -69.40% | +3.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 79.14% | 62.34% | +16.80% |
Volatility
SBET vs. ETHU - Volatility Comparison
The current volatility for SharpLink Gaming Ltd. (SBET) is 18.65%, while Volatility Shares 2x Ether ETF (ETHU) has a volatility of 20.46%. 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.
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Volatility by Period
| SBET | ETHU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.65% | 20.46% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 56.20% | 93.82% | -37.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 143.78% | 137.60% | +6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 341.43% | 143.09% | +198.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 341.43% | 143.09% | +198.34% |
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 5.01%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | 5.01% | 2.31% | 0.41% |
SBET SharpLink Gaming Ltd. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SBET and ETHU 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.
ETHU has higher volatility (20.46%) compared to SBET (18.65%). In terms of maximum drawdown, SBET dropped -93.01% vs ETHU's -95.03%.
ETHU currently has the higher Sharpe Ratio (-0.55 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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