YETH vs. SBIT

Last updated Aug 2, 2026

YETH (Roundhill Ether Covered Call Strategy ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - YETH is a Derivative Income fund actively managed by Roundhill, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). YETH is actively managed, while SBIT is passively managed. Over the past year, YETH returned -35.08% vs 98.77% for SBIT. Their -0.78 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

YETH vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Ether Covered Call Strategy ETF (YETH) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YETH achieves a -29.48% return, which is significantly lower than SBIT's 39.44% return.

YETH

• 1D: -2.65%
• 1M: 11.61%
• 6M: -21.42%
• YTD: -29.48%
• 1Y: -35.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -23.31%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M
YETH Roundhill Ether Covered Call Strategy ETF	$413.46K	$455.45K	$751.44K

YETH vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YETH Roundhill Ether Covered Call Strategy ETF	-29.48%	-32.10%	26.02%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-70.30%

Correlation

The correlation between YETH and SBIT is -0.85, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.85
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	-0.78

The correlation between YETH and SBIT has been stable across timeframes, ranging from -0.85 to -0.78 - a consistent structural relationship.

Return for Risk

YETH vs. SBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

YETH

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

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

YETH vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Ether Covered Call Strategy ETF (YETH) 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.

	YETH	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	1.27	-1.97
Sortino ratio: Return per unit of downside risk	-0.79	1.95	-2.74
Omega ratio: Gain probability vs. loss probability	0.90	1.23	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.68	2.35	-3.03
Martin ratio: Return relative to average drawdown	-1.06	5.19	-6.25

YETH vs. SBIT - Sharpe Ratio Comparison

The current YETH Sharpe Ratio is -0.70, which is lower than the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of YETH and SBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

YETH vs. SBIT - Drawdown Comparison

The maximum YETH drawdown since its inception was -64.41%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for YETH and SBIT.

Drawdown Indicators

	YETH	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-64.41%	-91.35%	+26.94%
Max Drawdown (1Y) Largest decline over 1 year	-58.73%	-47.94%	-10.79%
Current Drawdown Current decline from peak	-56.91%	-77.87%	+20.96%
Average Drawdown Average peak-to-trough decline	-33.27%	-69.07%	+35.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.51%	21.67%	+15.84%

Volatility

YETH vs. SBIT - Volatility Comparison

The current volatility for Roundhill Ether Covered Call Strategy ETF (YETH) is 8.65%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that YETH 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.

Volatility by Period

	YETH	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.65%	18.09%	-9.44%
Volatility (6M) Calculated over the trailing 6-month period	39.12%	67.10%	-27.98%
Volatility (1Y) Calculated over the trailing 1-year period	57.48%	88.65%	-31.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.75%	96.10%	-41.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.75%	96.10%	-41.35%

YETH vs. SBIT - Expense Ratio Comparison

Both YETH and SBIT have an expense ratio of 0.95%.

Dividends

YETH vs. SBIT - Dividend Comparison

YETH's dividend yield for the trailing twelve months is around 121.07%, more than SBIT's 4.10% yield.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%
YETH Roundhill Ether Covered Call Strategy ETF	121.07%	109.12%	20.52%

Frequently Asked Questions

Can I hold both YETH and SBIT in my portfolio?

YETH and SBIT have a correlation of -0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YETH or SBIT?

SBIT has higher volatility (18.09%) compared to YETH (8.65%). In terms of maximum drawdown, YETH dropped -64.41% vs SBIT's -91.35%.

Which ETF is better, YETH or SBIT?

On 1-year performance, SBIT leads with 98.77% vs -35.08% for YETH. Both ETFs have the same 0.95% expense ratio. On volatility, YETH has been the lower-risk option at 8.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YETH or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs -35.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YETH or SBIT?

YETH and SBIT have the same expense ratio: 0.95% per year.

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

YETH has the higher dividend yield at 121.07%, compared with 4.03% for SBIT.

What is the main difference between YETH and SBIT?

YETH is categorized as Derivative Income, while SBIT is Cryptocurrency. They also come from different issuers: Roundhill and ProShares.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.27 vs -0.70), 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.