BLOX vs. IBIT

Last updated Jun 24, 2026

BLOX (Nicholas Crypto Income ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. BLOX is actively managed, while IBIT is passively managed. Over the past year, BLOX returned 25.91% vs -39.82% for IBIT. A 0.80 correlation means they provide meaningful diversification when combined. BLOX charges 1.03%/yr vs 0.25%/yr for IBIT.

Performance

BLOX vs. IBIT - Performance Comparison

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

Returns By Period

In the year-to-date period, BLOX achieves a 14.14% return, which is significantly higher than IBIT's -28.88% return.

BLOX

• 1D: -2.16%
• 1M: 1.81%
• YTD: 14.14%
• 6M: 8.96%
• 1Y: 25.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -3.26%
• 1M: -17.81%
• YTD: -28.88%
• 6M: -28.88%
• 1Y: -39.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BLOX vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025
BLOX Nicholas Crypto Income ETF	14.14%	8.17%
IBIT iShares Bitcoin Trust ETF	-28.88%	-19.66%

Correlation

The correlation between BLOX and IBIT is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025	0.80

The correlation between BLOX and IBIT has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.

Return for Risk

BLOX vs. IBIT — Risk / Return Rank

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

BLOX

BLOX Risk / Return Rank: 16
BLOX Sharpe Ratio Rank: 16
BLOX Sortino Ratio Rank: 19
BLOX Omega Ratio Rank: 18
BLOX Calmar Ratio Rank: 15
BLOX Martin Ratio Rank: 14

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT 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.

BLOX vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	0.48	-0.90	+1.38
Sortino ratio: Return per unit of downside risk	1.00	-1.25	+2.25
Omega ratio: Gain probability vs. loss probability	1.12	0.86	+0.26
Calmar ratio: Return relative to maximum drawdown	0.55	-0.77	+1.32
Martin ratio: Return relative to average drawdown	1.11	-1.30	+2.41

BLOX vs. IBIT - Sharpe Ratio Comparison

The current BLOX Sharpe Ratio is 0.48, which is higher than the IBIT Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of BLOX and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BLOX vs. IBIT - Drawdown Comparison

The maximum BLOX drawdown since its inception was -47.09%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for BLOX and IBIT.

Drawdown Indicators

	BLOX	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	-52.11%	+5.02%
Max Drawdown (1Y) Largest decline over 1 year	-47.09%	-52.11%	+5.02%
Current Drawdown Current decline from peak	-21.10%	-50.47%	+29.37%
Average Drawdown Average peak-to-trough decline	-18.66%	-16.85%	-1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.45%	30.58%	-7.13%

Volatility

BLOX vs. IBIT - Volatility Comparison

Nicholas Crypto Income ETF (BLOX) has a higher volatility of 15.68% compared to iShares Bitcoin Trust ETF (IBIT) at 13.18%. This indicates that BLOX's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLOX	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.68%	13.18%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	41.09%	34.64%	+6.45%
Volatility (1Y) Calculated over the trailing 1-year period	54.17%	44.31%	+9.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.89%	50.22%	+3.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.89%	50.22%	+3.67%

BLOX vs. IBIT - Expense Ratio Comparison

BLOX has a 1.03% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

BLOX vs. IBIT - Dividend Comparison

BLOX's dividend yield for the trailing twelve months is around 40.47%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	40.47%	22.69%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BLOX and IBIT in my portfolio?

BLOX and IBIT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLOX or IBIT?

BLOX has higher volatility (15.68%) compared to IBIT (13.18%). In terms of maximum drawdown, BLOX dropped -47.09% vs IBIT's -52.11%.

Which ETF is better, BLOX or IBIT?

On 1-year performance, BLOX leads with 25.91% vs -39.82% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 13.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLOX or IBIT?

Over the 1-year period, BLOX has performed better with a 25.91% return vs -39.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLOX or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 1.03% for BLOX.

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

BLOX has the higher dividend yield at 40.47%, compared with 0.00% for IBIT.

What is the main difference between BLOX and IBIT?

They also come from different issuers: Nicholas and iShares. Their fees differ too: 1.03% for BLOX and 0.25% for IBIT.

Which has better risk-adjusted returns?

BLOX currently has the higher Sharpe Ratio (0.48 vs -0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.