BLOX vs. MSTW

Last updated Jun 25, 2026

BLOX (Nicholas Crypto Income ETF) and MSTW (Roundhill MSTR WeeklyPay ETF) are both exchange-traded funds - BLOX is a Cryptocurrency fund actively managed by Nicholas, while MSTW is a Derivative Income fund actively managed by Roundhill. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. BLOX charges 1.03%/yr vs 0.99%/yr for MSTW.

Performance

BLOX vs. MSTW - Performance Comparison

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

Returns By Period

In the year-to-date period, BLOX achieves a 9.45% return, which is significantly higher than MSTW's -47.02% return.

BLOX

• 1D: -4.11%
• 1M: -2.37%
• YTD: 9.45%
• 6M: 3.69%
• 1Y: 14.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTW

• 1D: -11.27%
• 1M: -48.03%
• YTD: -47.02%
• 6M: -49.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BLOX vs. MSTW - Yearly Performance Comparison

	2026 (YTD)	2025
BLOX Nicholas Crypto Income ETF	9.45%	-12.15%
MSTW Roundhill MSTR WeeklyPay ETF	-47.02%	-71.40%

Correlation

The correlation between BLOX and MSTW is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.77

Return for Risk

BLOX vs. MSTW — Risk / Return Rank

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

BLOX

BLOX Risk / Return Rank: 13
BLOX Sharpe Ratio Rank: 13
BLOX Sortino Ratio Rank: 15
BLOX Omega Ratio Rank: 15
BLOX Calmar Ratio Rank: 12
BLOX Martin Ratio Rank: 12

MSTW

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

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. MSTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) and Roundhill MSTR WeeklyPay ETF (MSTW). 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	MSTW	Difference
Sharpe ratio: Return per unit of total volatility	0.27	—	—
Sortino ratio: Return per unit of downside risk	0.74	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.31	—	—
Martin ratio: Return relative to average drawdown	0.62	—	—

Drawdowns

BLOX vs. MSTW - Drawdown Comparison

The maximum BLOX drawdown since its inception was -47.09%, smaller than the maximum MSTW drawdown of -84.86%. Use the drawdown chart below to compare losses from any high point for BLOX and MSTW.

Drawdown Indicators

	BLOX	MSTW	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	-84.86%	+37.77%
Max Drawdown (1Y) Largest decline over 1 year	-47.09%	—	—
Current Drawdown Current decline from peak	-24.34%	-84.86%	+60.52%
Average Drawdown Average peak-to-trough decline	-18.68%	-55.81%	+37.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.50%	—	—

Volatility

Volatility by Period

	BLOX	MSTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	40.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.31%	89.58%	-35.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.95%	89.58%	-35.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.95%	89.58%	-35.63%

BLOX vs. MSTW - Expense Ratio Comparison

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

Dividends

BLOX vs. MSTW - Dividend Comparison

BLOX's dividend yield for the trailing twelve months is around 42.20%, less than MSTW's 367.37% yield.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	42.20%	22.69%
MSTW Roundhill MSTR WeeklyPay ETF	367.37%	106.94%

Frequently Asked Questions

Can I hold both BLOX and MSTW in my portfolio?

BLOX and MSTW have a correlation of 0.77, 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 MSTW?

On fees, MSTW 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 MSTW?

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

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

MSTW has the higher dividend yield at 367.37%, compared with 42.20% for BLOX.

What is the main difference between BLOX and MSTW?

BLOX is categorized as Cryptocurrency, while MSTW is Derivative Income. They also come from different issuers: Nicholas and Roundhill. Their fees differ too: 1.03% for BLOX and 0.99% for MSTW.