BLOX vs. MSII

Last updated Aug 4, 2026

BLOX (Nicholas Crypto Income ETF) and MSII (REX MSTR Growth & Income ETF) are both exchange-traded funds - BLOX is a Cryptocurrency fund actively managed by Nicholas, while MSII is a Leveraged Equities fund actively managed by REX. Both are actively managed. Their 0.70 correlation means they have sometimes moved together and sometimes differently. BLOX charges 1.03%/yr vs 0.99%/yr for MSII.

Performance

BLOX vs. MSII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Crypto Income ETF (BLOX) and REX MSTR Growth & Income ETF (MSII). 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%

MSII

• 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)
BLOX Nicholas Crypto Income ETF	$4.89M	$4.95M	$6.25M

BLOX vs. MSII - Yearly Performance Comparison

	2026 (YTD)	2025
BLOX Nicholas Crypto Income ETF	-1.70%	8.17%
MSII REX MSTR Growth & Income ETF	-28.10%	-61.00%

Correlation

The correlation between BLOX and MSII is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025	0.70

The correlation between BLOX and MSII has been stable across timeframes, ranging from 0.69 to 0.70 - a consistent structural relationship.

Return for Risk

BLOX vs. MSII — 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

MSII

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. MSII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) and REX MSTR Growth & Income ETF (MSII). 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	MSII	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

Drawdown Indicators

	BLOX	MSII	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-47.09%	—	—
Current Drawdown Current decline from peak	-32.04%	—	—
Average Drawdown Average peak-to-trough decline	-19.87%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	25.62%	—	—

Volatility

Volatility by Period

	BLOX	MSII	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%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.14%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.14%	—	—

BLOX vs. MSII - Expense Ratio Comparison

BLOX has a 1.03% expense ratio, which is higher than MSII's 0.99% expense ratio.

Dividends

BLOX vs. MSII - Dividend Comparison

BLOX's dividend yield for the trailing twelve months is around 47.94%, while MSII has not paid dividends to shareholders.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	47.94%	22.69%
MSII REX MSTR Growth & Income ETF	60.40%	48.93%

Frequently Asked Questions

Can I hold both BLOX and MSII in my portfolio?

BLOX and MSII have a correlation of 0.69, 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 MSII?

On fees, MSII is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BLOX or MSII?

MSII is cheaper with a 0.99% expense ratio, compared with 1.03% for BLOX.

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

MSII has the higher dividend yield at 60.40%, compared with 47.94% for BLOX.

What is the main difference between BLOX and MSII?

BLOX is categorized as Cryptocurrency, while MSII is Leveraged Equities. They also come from different issuers: Nicholas and REX. Their fees differ too: 1.03% for BLOX and 0.99% for MSII.