TETH vs. SBIT
TETH (21Shares Ethereum ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both Cryptocurrency funds. TETH is actively managed, while SBIT is passively managed. Over the past year, TETH returned -32.60% vs 95.06% for SBIT. At a correlation of -0.82, they often move in opposite directions.
Performance
TETH vs. SBIT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TETH achieves a -45.15% return, which is significantly lower than SBIT's 55.04% return.
TETH
- 1D
- 3.43%
- 1M
- -19.29%
- YTD
- -45.15%
- 6M
- -44.28%
- 1Y
- -32.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SBIT
- 1D
- -2.15%
- 1M
- 40.83%
- YTD
- 55.04%
- 6M
- 53.57%
- 1Y
- 95.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TETH vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TETH 21Shares Ethereum ETF | -45.15% | -11.20% | -5.86% |
SBIT Proshares Ultrashort Bitcoin ETF | 55.04% | -25.11% | -64.46% |
Correlation
The correlation between TETH and SBIT is -0.88, 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 | -0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | -0.82 |
The correlation between TETH and SBIT has been stable across timeframes, ranging from -0.88 to -0.82 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TETH vs. SBIT — Risk / Return Rank
TETH
SBIT
TETH vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum ETF (TETH) and Proshares Ultrashort Bitcoin ETF (SBIT). 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.
| TETH | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.22 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 1.99 | -2.48 |
| Martin ratioReturn relative to average drawdown | -0.79 | 4.16 | -4.95 |
Loading charts...
Drawdowns
TETH vs. SBIT - Drawdown Comparison
The maximum TETH drawdown since its inception was -67.74%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for TETH and SBIT.
Loading charts...
Drawdown Indicators
| TETH | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.74% | -91.35% | +23.61% |
Max Drawdown (1Y)Largest decline over 1 year | -67.74% | -47.94% | -19.80% |
Current DrawdownCurrent decline from peak | -66.33% | -75.40% | +9.07% |
Average DrawdownAverage peak-to-trough decline | -34.03% | -68.70% | +34.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.19% | 22.95% | +18.24% |
Volatility
TETH vs. SBIT - Volatility Comparison
The current volatility for 21Shares Ethereum ETF (TETH) is 20.46%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 27.01%. This indicates that TETH experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TETH | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.46% | 27.01% | -6.55% |
Volatility (6M)Calculated over the trailing 6-month period | 46.69% | 68.70% | -22.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.15% | 88.70% | -19.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.18% | 97.22% | -25.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.18% | 97.22% | -25.04% |
Dividends
TETH vs. SBIT - Dividend Comparison
TETH's dividend yield for the trailing twelve months is around 0.39%, less than SBIT's 3.03% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 3.03% | 0.52% | 1.00% |
TETH 21Shares Ethereum ETF | 0.39% | 0.00% | 0.00% |
Frequently Asked Questions
TETH and SBIT have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (27.01%) compared to TETH (20.46%). In terms of maximum drawdown, TETH dropped -67.74% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 95.06% vs -32.60% for TETH. On volatility, TETH has been the lower-risk option at 20.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 95.06% return vs -32.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SBIT has the higher dividend yield at 3.03%, compared with 0.39% for TETH.
They also come from different issuers: 21Shares and ProShares.
SBIT currently has the higher Sharpe Ratio (1.08 vs -0.47), 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.
Find the right allocation for TETH and SBIT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer