BHDG vs. ESK

Last updated Aug 4, 2026

BHDG (Nicholas Bitcoin Tail ETF) and ESK (REX-Osprey ETH + Staking ETF) are both Cryptocurrency funds. Both are actively managed. Their -0.64 correlation means they have often moved in opposite directions in the past. BHDG charges 0.97%/yr vs 0.75%/yr for ESK.

Performance

BHDG vs. ESK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Bitcoin Tail ETF (BHDG) and REX-Osprey ETH + Staking ETF (ESK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BHDG

• 1D: -1.34%
• 1M: -4.67%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

ESK

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
BHDG Nicholas Bitcoin Tail ETF	$110.35K	$139.84K	$313.05K

BHDG vs. ESK - Yearly Performance Comparison

	2026 (YTD)
BHDG Nicholas Bitcoin Tail ETF	-5.83%
ESK REX-Osprey ETH + Staking ETF	-29.57%

Correlation

The correlation between BHDG and ESK is -0.64, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 18, 2026	-0.64

Return for Risk

BHDG vs. ESK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Bitcoin Tail ETF (BHDG) and REX-Osprey ETH + Staking ETF (ESK). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Drawdown Indicators

	BHDG	ESK	Difference
Max Drawdown Largest peak-to-trough decline	-15.06%	—	—
Current Drawdown Current decline from peak	-10.34%	—	—
Average Drawdown Average peak-to-trough decline	-8.64%	—	—

Volatility

Volatility by Period

	BHDG	ESK	Difference
Volatility (1Y) Calculated over the trailing 1-year period	25.88%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.88%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.88%	—	—

BHDG vs. ESK - Expense Ratio Comparison

BHDG has a 0.97% expense ratio, which is higher than ESK's 0.75% expense ratio.

Dividends

BHDG vs. ESK - Dividend Comparison

BHDG has not paid dividends to shareholders, while ESK's dividend yield for the trailing twelve months is around 1.06%.

Position	TTM	2025
BHDG Nicholas Bitcoin Tail ETF	0.00%	0.00%
ESK REX-Osprey ETH + Staking ETF	1.06%	0.30%

Frequently Asked Questions

Can I hold both BHDG and ESK in my portfolio?

BHDG and ESK have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BHDG or ESK?

On fees, ESK is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BHDG or ESK?

ESK is cheaper with a 0.75% expense ratio, compared with 0.97% for BHDG.

Which ETF pays a higher dividend yield, BHDG or ESK?

ESK has the higher dividend yield at 1.06%, compared with 0.00% for BHDG.

What is the main difference between BHDG and ESK?

They also come from different issuers: Nicholas and REX Shares. Their fees differ too: 0.97% for BHDG and 0.75% for ESK.