BITO vs. BLOX

Last updated Jun 5, 2026

BITO (ProShares Bitcoin Strategy ETF) and BLOX (Nicholas Crypto Income ETF) are both Cryptocurrency funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. BITO charges 0.95%/yr vs 1.03%/yr for BLOX.

Performance

BITO vs. BLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin Strategy ETF (BITO) and Nicholas Crypto Income ETF (BLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITO achieves a -28.44% return, which is significantly lower than BLOX's 15.59% return.

BITO

• 1D: -2.81%
• 1M: -22.52%
• YTD: -28.44%
• 6M: -32.46%
• 1Y: -41.98%
• 3Y*: 26.82%
• 5Y*: —
• 10Y*: —

BLOX

• 1D: -0.80%
• 1M: 5.80%
• YTD: 15.59%
• 6M: 2.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITO vs. BLOX - Yearly Performance Comparison

	2026 (YTD)	2025
BITO ProShares Bitcoin Strategy ETF	-28.44%	-18.58%
BLOX Nicholas Crypto Income ETF	15.59%	9.24%

Correlation

The correlation between BITO and BLOX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.81

BITO vs. BLOX - Sectors Allocation Comparison

Sectors	BITO	BLOX
Financial Services	68.5%	60.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	39.3%
Utilities	-	-

Return for Risk

BITO vs. BLOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 2
BITO Sortino Ratio Rank: 2
BITO Omega Ratio Rank: 2
BITO Calmar Ratio Rank: 2
BITO Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITO vs. BLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) 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.

	BITO	BLOX	Difference
Sharpe ratio: Return per unit of total volatility	-0.97	—	—
Sortino ratio: Return per unit of downside risk	-1.39	—	—
Omega ratio: Gain probability vs. loss probability	0.84	—	—
Calmar ratio: Return relative to maximum drawdown	-0.83	—	—
Martin ratio: Return relative to average drawdown	-1.44	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BITO	BLOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.52	-0.62

Drawdowns

BITO vs. BLOX - Drawdown Comparison

The maximum BITO drawdown since its inception was -77.86%, which is greater than BLOX's maximum drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for BITO and BLOX.

Drawdown Indicators

	BITO	BLOX	Difference
Max Drawdown Largest peak-to-trough decline	-77.86%	-47.09%	-30.77%
Max Drawdown (1Y) Largest decline over 1 year	-50.64%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-50.64%	—	—
Current Drawdown Current decline from peak	-50.64%	-20.09%	-30.55%
Average Drawdown Average peak-to-trough decline	-36.75%	-18.53%	-18.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.27%	—	—

Volatility

Volatility by Period

	BITO	BLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.71%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	43.61%	53.34%	-9.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.10%	53.34%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.10%	53.34%	+1.76%

BITO vs. BLOX - Expense Ratio Comparison

BITO has a 0.95% expense ratio, which is lower than BLOX's 1.03% expense ratio.

Dividends

BITO vs. BLOX - Dividend Comparison

BITO's dividend yield for the trailing twelve months is around 69.59%, more than BLOX's 37.11% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	69.59%	78.29%	61.59%	15.14%
BLOX Nicholas Crypto Income ETF	37.11%	22.69%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITO and BLOX in my portfolio?

BITO and BLOX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BITO or BLOX?

On fees, BITO is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BITO or BLOX?

BITO is cheaper with a 0.95% expense ratio, compared with 1.03% for BLOX.

Which ETF pays a higher dividend yield, BITO or BLOX?

BITO has the higher dividend yield at 69.59%, compared with 37.11% for BLOX.

What is the main difference between BITO and BLOX?

They also come from different issuers: ProShares and Nicholas. Their fees differ too: 0.95% for BITO and 1.03% for BLOX.