SBET vs. ETHU
SBET (Sharplink, Inc.) is a stock, while ETHU (Volatility Shares 2x Ether ETF) is Leveraged Cryptocurrency fund actively managed by Volatility Shares. Over the past year, SBET returned -44.83% vs -73.33% for ETHU. At a 0.43 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 -44.46% return, which is significantly higher than ETHU's -76.57% return.
SBET
- 1D
- -6.50%
- 1M
- -20.30%
- YTD
- -44.46%
- 6M
- -46.27%
- 1Y
- -44.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHU
- 1D
- -8.34%
- 1M
- -38.44%
- YTD
- -76.57%
- 6M
- -76.68%
- 1Y
- -73.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SBET vs. ETHU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBET Sharplink, Inc. | -44.46% | 15.65% | -32.24% |
ETHU Volatility Shares 2x Ether ETF | -76.57% | -64.38% | -48.73% |
Correlation
The correlation between SBET and ETHU is 0.77, 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 | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024 | 0.43 |
Over the past year, SBET and ETHU have become more correlated (0.77) than their long-term average of 0.43, 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, Inc. (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.
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 | ETHU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.96 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | -0.78 | +0.27 |
| Martin ratioReturn relative to average drawdown | -0.66 | -1.12 | +0.46 |
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Drawdowns
SBET vs. ETHU - Drawdown Comparison
The maximum SBET drawdown since its inception was -93.73%, roughly equal to the maximum ETHU drawdown of -96.27%. 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 | -93.73% | -96.27% | +2.54% |
Max Drawdown (1Y)Largest decline over 1 year | -86.72% | -93.66% | +6.94% |
Current DrawdownCurrent decline from peak | -93.73% | -95.94% | +2.21% |
Average DrawdownAverage peak-to-trough decline | -66.19% | -69.93% | +3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 68.47% | 65.51% | +2.96% |
Volatility
SBET vs. ETHU - Volatility Comparison
The current volatility for Sharplink, Inc. (SBET) is 19.33%, while Volatility Shares 2x Ether ETF (ETHU) has a volatility of 39.76%. 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 | 19.33% | 39.76% | -20.43% |
Volatility (6M)Calculated over the trailing 6-month period | 55.46% | 95.70% | -40.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 104.13% | 138.92% | -34.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 337.68% | 143.29% | +194.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 337.68% | 143.29% | +194.39% |
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 6.26%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHU Volatility Shares 2x Ether ETF | 6.26% | 2.31% | 0.41% |
SBET Sharplink, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SBET and ETHU have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHU has higher volatility (39.76%) compared to SBET (19.33%). In terms of maximum drawdown, SBET dropped -93.73% vs ETHU's -96.27%.
SBET currently has the higher Sharpe Ratio (-0.43 vs -0.53), 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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