Nicholas Bitcoin Tail ETF (BHDG) belongs to the Cryptocurrency category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with BHDG. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to BHDG
BHDG charges 0.97% annually. There are 92 ETFs in the Cryptocurrency category with lower expense ratios, going as low as 0.14%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Morgan Stanley Bitcoin Trust | 0.14% | 368.03M | Apr 2026 | BHDG vs MSBT | |
| Grayscale Bitcoin Mini Trust ETF | 0.15% | 3.60B | Jul 2024 | BHDG vs BTC | |
| Grayscale Ethereum Staking Mini ETF | 0.15% | 1.51B | Jul 2024 | BHDG vs ETH | |
| Franklin Bitcoin ETF | 0.19% | 331.89M | Jan 2024 | BHDG vs EZBC | |
| Franklin Solana ETF | 0.19% | 8.80M | Dec 2025 | BHDG vs SOEZ |
Best Risk-Adjusted Alternatives to BHDG
Among 75 ETFs in the Cryptocurrency category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Grayscale Zcash Trust (ZEC) | 95 | — | Oct 2017 | BHDG vs ZCSH | |
| ProShares Short Bitcoin ETF | 52 | 115.79M | Jun 2022 | BHDG vs BITI | |
| Proshares Ultrashort Bitcoin ETF | 48 | 158.01M | Apr 2024 | BHDG vs SBIT | |
| T-Rex 2X Inverse Bitcoin Daily Target ETF | 42 | — | Jul 2024 | BHDG vs BTCZ | |
| CoinShares Bitcoin Miners ETF | 36 | 395.17M | Feb 2022 | BHDG vs WGMI |
Top Performing BHDG Alternatives (YTD)
Among 110 ETFs in the Cryptocurrency category with YTD return data, the top-performing alternatives shown here go as high as 34.55%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Proshares Ultrashort Bitcoin ETF | 34.55% | 158.01M | Apr 2024 | BHDG vs SBIT | |
| ProShares UltraShort Ether ETF | 30.34% | 51.90M | Jun 2024 | BHDG vs ETHD | |
| T-Rex 2X Inverse Bitcoin Daily Target ETF | 29.81% | — | Jul 2024 | BHDG vs BTCZ | |
| ProShares Short Ether Strategy ETF | 29.34% | 17.31M | Nov 2023 | BHDG vs SETH | |
| CoinShares Bitcoin Miners ETF | 25.69% | 395.17M | Feb 2022 | BHDG vs WGMI |
Lowest Volatility Alternatives to BHDG
BHDG has 26.91% 1-year volatility. There are 15 ETFs in the Cryptocurrency category with lower 1-year volatility, going as low as 2.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Calamos Bitcoin Structured Alt Protection ETF - Oc... | 2.00% | — | Oct 2025 | BHDG vs CBOO | |
| Calamos Laddered Bitcoin 90 Series Structured Alt ... | 3.72% | — | Oct 2025 | BHDG vs CBOL | |
| Calamos Bitcoin 90 Series Structured Alt Protectio... | 6.66% | — | Oct 2025 | BHDG vs CBXO | |
| Calamos Bitcoin 80 Series Structured Alt Protectio... | 11.88% | — | Oct 2025 | BHDG vs CBTO | |
| FT Vest Bitcoin Strategy Floor15 ETF - October | 11.91% | 7.63M | Sep 2025 | BHDG vs BFOC |
Lowest Drawdown Alternatives to BHDG
Among 75 ETFs in the Cryptocurrency category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -14.02%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Horizon Kinetics Blockchain Development ETF | -14.02% | 22.57M | Aug 2022 | BHDG vs BCDF | |
| FT Vest Bitcoin Strategy Floor15 ETF - July | -21.27% | 3.45M | Jun 2025 | BHDG vs BFJL | |
| REX Crypto Equity Premium Income ETF | -22.47% | 112.35M | Dec 2024 | BHDG vs CEPI | |
| ProShares Short Bitcoin ETF | -25.28% | 115.79M | Jun 2022 | BHDG vs BITI | |
| Global X Bitcoin Trend Strategy ETF | -26.03% | 1.48M | Mar 2024 | BHDG vs BTRN |
Other ETFs from Nicholas
The 6 most viewed Nicholas ETFs shown here include BLOX, GIAX, FIAX and span 6 categories. AUM among these funds goes as high as $298M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Nicholas Crypto Income ETF | Cryptocurrency | 7 | -6.85% | 298.00M | Jun 2025 | BHDG vs BLOX | |
| Nicholas Global Equity and Income ETF | Derivative Income | 19 | 7.71% | 89.37M | Jul 2024 | BHDG vs GIAX | |
| Nicholas Fixed Income Alternative ETF | Nontraditional Bonds | 47 | 1.89% | 132.16M | Nov 2022 | BHDG vs FIAX | |
| Fitz-Gerald Must Have Portfolio ETF | Large Cap Growth Equities | — | — | 22.49M | May 2026 | BHDG vs FITZ | |
| Nicholas Gold Income ETF | Gold, Derivative Income, Precious Metals | — | — | 2.47M | Feb 2026 | BHDG vs GLDN | |
| Nicholas Bitcoin and Treasuries AfterDark ETF | Cryptocurrency | — | — | 29.68M | Apr 2026 | BHDG vs NGHT |
Often Compared With BHDG
Investors most often compare BHDG with ESK, BITC, EZET. These 6 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| REX-Osprey ETH + Staking ETF | Cryptocurrency | — | -44.38% | — | Sep 2025 | BHDG vs ESK | |
| Bitwise Bitcoin Strategy Optimum Roll ETF | Cryptocurrency | 2 | 0.52% | 14.58M | Mar 2023 | BHDG vs BITC | |
| Franklin Ethereum ETF | Cryptocurrency | 4 | -36.90% | 32.26M | Jul 2024 | BHDG vs EZET | |
| iShares Blockchain and Tech ETF | Cryptocurrency | 11 | 4.27% | 85.41M | Apr 2022 | BHDG vs IBLC | |
| Franklin Crypto Index ETF | Cryptocurrency | 2 | -29.25% | 12.68M | Feb 2025 | BHDG vs EZPZ | |
| Grayscale Solana Staking ETF | Cryptocurrency | — | — | 101.54M | Nov 2021 | BHDG vs GSOL |
Compare BHDG with Any Fund or Stock
Compare BHDG with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair BHDG with funds that move differently
Nicholas Bitcoin Tail ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to BHDG.
Explore BHDG Diversifiers