SBIT vs. GLNK

Last updated Jun 4, 2026

SBIT (Proshares Ultrashort Bitcoin ETF) and GLNK (Grayscale Chainlink Trust ETF) are both Cryptocurrency funds - SBIT tracks the Bloomberg Bitcoin Index (-200%) while GLNK tracks the Chainlink (LINK). Both are passively managed. Over the past year, SBIT returned 68.00% vs -59.50% for GLNK. At a correlation of -0.43, they often move in opposite directions. SBIT charges 0.95%/yr vs 2.50%/yr for GLNK.

Performance

SBIT vs. GLNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultrashort Bitcoin ETF (SBIT) and Grayscale Chainlink Trust ETF (GLNK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBIT achieves a 37.02% return, which is significantly higher than GLNK's -33.27% return.

SBIT

• 1D: 5.42%
• 1M: 46.58%
• YTD: 37.02%
• 6M: 52.37%
• 1Y: 68.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLNK

• 1D: -3.84%
• 1M: -12.83%
• YTD: -33.27%
• 6M: -43.25%
• 1Y: -59.50%
• 3Y*: -10.96%
• 5Y*: —
• 10Y*: —

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

SBIT vs. GLNK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	37.02%	-25.11%	-73.13%
GLNK Grayscale Chainlink Trust ETF	-33.27%	-87.10%	-41.64%

Correlation

The correlation between SBIT and GLNK is -0.66, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.66
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024	-0.43

Over the past year, the inverse relationship between SBIT and GLNK has strengthened: their correlation has moved from -0.43 to -0.66, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

SBIT vs. GLNK — Risk / Return Rank

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

SBIT

SBIT Risk / Return Rank: 26
SBIT Sharpe Ratio Rank: 22
SBIT Sortino Ratio Rank: 28
SBIT Omega Ratio Rank: 27
SBIT Calmar Ratio Rank: 29
SBIT Martin Ratio Rank: 22

GLNK

GLNK Risk / Return Rank: 4
GLNK Sharpe Ratio Rank: 4
GLNK Sortino Ratio Rank: 5
GLNK Omega Ratio Rank: 5
GLNK Calmar Ratio Rank: 3
GLNK Martin Ratio Rank: 5

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.

SBIT vs. GLNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and Grayscale Chainlink Trust ETF (GLNK). 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.

	SBIT	GLNK	Difference
Sharpe ratio: Return per unit of total volatility	0.78	-0.55	+1.33
Sortino ratio: Return per unit of downside risk	1.54	-0.42	+1.96
Omega ratio: Gain probability vs. loss probability	1.18	0.95	+0.23
Calmar ratio: Return relative to maximum drawdown	1.43	-0.68	+2.10
Martin ratio: Return relative to average drawdown	2.76	-0.89	+3.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBIT vs. GLNK - Sharpe Ratio Comparison

The current SBIT Sharpe Ratio is 0.78, which is higher than the GLNK Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of SBIT and GLNK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SBIT	GLNK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	-0.55	+1.33
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	-0.01	-0.45

Drawdowns

SBIT vs. GLNK - Drawdown Comparison

The maximum SBIT drawdown since its inception was -91.35%, roughly equal to the maximum GLNK drawdown of -95.82%. Use the drawdown chart below to compare losses from any high point for SBIT and GLNK.

Drawdown Indicators

	SBIT	GLNK	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-95.82%	+4.47%
Max Drawdown (1Y) Largest decline over 1 year	-47.94%	-88.29%	+40.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-95.82%	—
Current Drawdown Current decline from peak	-78.26%	-95.71%	+17.45%
Average Drawdown Average peak-to-trough decline	-68.55%	-55.70%	-12.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.69%	66.68%	-41.99%

Volatility

SBIT vs. GLNK - Volatility Comparison

Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 18.22% compared to Grayscale Chainlink Trust ETF (GLNK) at 15.43%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than GLNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBIT	GLNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.22%	15.43%	+2.79%
Volatility (6M) Calculated over the trailing 6-month period	68.46%	46.79%	+21.67%
Volatility (1Y) Calculated over the trailing 1-year period	87.18%	109.57%	-22.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.47%	164.87%	-67.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.47%	164.87%	-67.40%

SBIT vs. GLNK - Expense Ratio Comparison

SBIT has a 0.95% expense ratio, which is lower than GLNK's 2.50% expense ratio.

Dividends

SBIT vs. GLNK - Dividend Comparison

SBIT's dividend yield for the trailing twelve months is around 3.42%, while GLNK has not paid dividends to shareholders.

Position	TTM	2025	2024
GLNK Grayscale Chainlink Trust ETF	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.42%	0.52%	1.00%

Frequently Asked Questions

Can I hold both SBIT and GLNK in my portfolio?

SBIT and GLNK have a correlation of -0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBIT or GLNK?

SBIT has higher volatility (18.22%) compared to GLNK (15.43%). In terms of maximum drawdown, SBIT dropped -91.35% vs GLNK's -95.82%.

Which ETF is better, SBIT or GLNK?

On 1-year performance, SBIT leads with 68.00% vs -59.50% for GLNK. On fees, SBIT is cheaper at 0.95% per year. On volatility, GLNK has been the lower-risk option at 15.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBIT or GLNK?

Over the 1-year period, SBIT has performed better with a 68.00% return vs -59.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIT or GLNK?

SBIT is cheaper with a 0.95% expense ratio, compared with 2.50% for GLNK.

Which ETF pays a higher dividend yield, SBIT or GLNK?

SBIT has the higher dividend yield at 3.42%, compared with 0.00% for GLNK.

What is the main difference between SBIT and GLNK?

SBIT tracks Bloomberg Bitcoin Index (-200%), while GLNK tracks Chainlink (LINK). They also come from different issuers: ProShares and Grayscale. Their fees differ too: 0.95% for SBIT and 2.50% for GLNK.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (0.78 vs -0.55), 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.