BHDG vs. BLOX
BHDG (Nicholas Bitcoin Tail ETF) and BLOX (Nicholas Crypto Income ETF) are both Cryptocurrency funds from Nicholas. Both are actively managed. At a correlation of -0.70, they often move in opposite directions. BHDG charges 0.97%/yr vs 1.03%/yr for BLOX.
Performance
BHDG vs. BLOX - Performance Comparison
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Returns By Period
BHDG
- 1D
- 2.19%
- 1M
- 9.98%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BLOX
- 1D
- -4.11%
- 1M
- -2.37%
- YTD
- 9.45%
- 6M
- 3.69%
- 1Y
- 14.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BHDG vs. BLOX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BHDG Nicholas Bitcoin Tail ETF | 0.95% |
BLOX Nicholas Crypto Income ETF | 15.79% |
Correlation
The correlation between BHDG and BLOX is -0.70, 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 (All Time) Calculated using the full available price history since Mar 18, 2026 | -0.70 |
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Return for Risk
BHDG vs. BLOX — Risk / Return Rank
BHDG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BLOX
BHDG vs. BLOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Bitcoin Tail ETF (BHDG) and Nicholas Crypto Income ETF (BLOX). 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.
| BHDG | BLOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.09 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.31 | — |
| Martin ratioReturn relative to average drawdown | — | 0.62 | — |
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Drawdowns
BHDG vs. BLOX - Drawdown Comparison
The maximum BHDG drawdown since its inception was -15.06%, smaller than the maximum BLOX drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for BHDG and BLOX.
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Drawdown Indicators
| BHDG | BLOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.06% | -47.09% | +32.03% |
Max Drawdown (1Y)Largest decline over 1 year | — | -47.09% | — |
Current DrawdownCurrent decline from peak | -3.89% | -24.34% | +20.45% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -18.68% | +10.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 23.50% | — |
Volatility
BHDG vs. BLOX - Volatility Comparison
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Volatility by Period
| BHDG | BLOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 16.23% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 40.74% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.77% | 54.31% | -26.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.77% | 53.95% | -26.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.77% | 53.95% | -26.18% |
BHDG vs. BLOX - Expense Ratio Comparison
BHDG has a 0.97% expense ratio, which is lower than BLOX's 1.03% expense ratio.
Dividends
BHDG vs. BLOX - Dividend Comparison
BHDG has not paid dividends to shareholders, while BLOX's dividend yield for the trailing twelve months is around 42.20%.
| Position | TTM | 2025 |
|---|---|---|
BHDG Nicholas Bitcoin Tail ETF | 0.00% | 0.00% |
BLOX Nicholas Crypto Income ETF | 42.20% | 22.69% |
Frequently Asked Questions
BHDG and BLOX have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BHDG is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BHDG is cheaper with a 0.97% expense ratio, compared with 1.03% for BLOX.
BLOX has the higher dividend yield at 42.20%, compared with 0.00% for BHDG.
Their fees differ too: 0.97% for BHDG and 1.03% for BLOX.
Find the right allocation for BHDG and BLOX
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