BLOX vs. GLDN

Last updated Aug 4, 2026

BLOX (Nicholas Crypto Income ETF) and GLDN (Nicholas Gold Income ETF) are both exchange-traded funds - BLOX is a Cryptocurrency fund actively managed by Nicholas, while GLDN is a Gold fund actively managed by Nicholas. Both are actively managed. Their 0.44 correlation means their historical movements had little consistent relationship. BLOX charges 1.03%/yr vs 1.07%/yr for GLDN.

Performance

BLOX vs. GLDN - Performance Comparison

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

Returns By Period

BLOX

• 1D: 3.66%
• 1M: -0.32%
• 6M: -1.27%
• YTD: -1.70%
• 1Y: -6.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.59%

GLDN

• 1D: 1.73%
• 1M: -3.62%
• 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)
BLOX Nicholas Crypto Income ETF	$4.89M	$4.95M	$6.25M
GLDN Nicholas Gold Income ETF	$89.94K	$104.95K	$97.90K

BLOX vs. GLDN - Yearly Performance Comparison

	2026 (YTD)
BLOX Nicholas Crypto Income ETF	8.86%
GLDN Nicholas Gold Income ETF	-25.64%

Correlation

The correlation between BLOX and GLDN is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026	0.44

Return for Risk

BLOX vs. GLDN — Risk / Return Rank

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

BLOX

BLOX Risk / Return Rank: 11
BLOX Sharpe Ratio Rank: 9
BLOX Sortino Ratio Rank: 13
BLOX Omega Ratio Rank: 12
BLOX Calmar Ratio Rank: 9
BLOX Martin Ratio Rank: 9

GLDN

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

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.

BLOX vs. GLDN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) and Nicholas Gold Income ETF (GLDN). 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.

	BLOX	GLDN	Difference
Sharpe ratio: Return per unit of total volatility	-0.11	—	—
Sortino ratio: Return per unit of downside risk	0.25	—	—
Omega ratio: Gain probability vs. loss probability	1.03	—	—
Calmar ratio: Return relative to maximum drawdown	-0.13	—	—
Martin ratio: Return relative to average drawdown	-0.24	—	—

Drawdowns

BLOX vs. GLDN - Drawdown Comparison

The maximum BLOX drawdown since its inception was -47.09%, which is greater than GLDN's maximum drawdown of -36.20%. Use the drawdown chart below to compare losses from any high point for BLOX and GLDN.

Drawdown Indicators

	BLOX	GLDN	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	-36.20%	-10.89%
Max Drawdown (1Y) Largest decline over 1 year	-47.09%	—	—
Current Drawdown Current decline from peak	-32.04%	-32.30%	+0.26%
Average Drawdown Average peak-to-trough decline	-19.87%	-20.90%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.62%	—	—

Volatility

Volatility by Period

	BLOX	GLDN	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	56.97%	41.24%	+15.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.14%	41.24%	+13.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.14%	41.24%	+13.90%

BLOX vs. GLDN - Expense Ratio Comparison

BLOX has a 1.03% expense ratio, which is lower than GLDN's 1.07% expense ratio.

Dividends

BLOX vs. GLDN - Dividend Comparison

BLOX's dividend yield for the trailing twelve months is around 47.94%, more than GLDN's 7.51% yield.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	47.94%	22.69%
GLDN Nicholas Gold Income ETF	7.51%	0.00%

Frequently Asked Questions

Can I hold both BLOX and GLDN in my portfolio?

BLOX and GLDN have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BLOX or GLDN?

On fees, BLOX is cheaper at 1.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BLOX or GLDN?

BLOX is cheaper with a 1.03% expense ratio, compared with 1.07% for GLDN.

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

BLOX has the higher dividend yield at 47.94%, compared with 7.51% for GLDN.

What is the main difference between BLOX and GLDN?

BLOX is categorized as Cryptocurrency, while GLDN is Gold. Their fees differ too: 1.03% for BLOX and 1.07% for GLDN.