BLOX vs. WGMI

Last updated Jun 4, 2026

BLOX (Nicholas Crypto Income ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both Cryptocurrency funds. Both are actively managed. Their correlation of 0.83 suggests significant overlap in exposure. BLOX charges 1.03%/yr vs 0.75%/yr for WGMI.

Performance

BLOX vs. WGMI - Performance Comparison

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

Returns By Period

In the year-to-date period, BLOX achieves a 16.52% return, which is significantly lower than WGMI's 84.78% return.

BLOX

• 1D: -2.56%
• 1M: 10.59%
• YTD: 16.52%
• 6M: 5.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -1.11%
• 1M: 40.03%
• YTD: 84.78%
• 6M: 55.52%
• 1Y: 294.61%
• 3Y*: 86.17%
• 5Y*: —
• 10Y*: —

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

BLOX vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025
BLOX Nicholas Crypto Income ETF	16.52%	9.24%
WGMI Valkyrie Bitcoin Miners ETF	84.78%	104.87%

Correlation

The correlation between BLOX and WGMI is 0.83, 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	0.83

BLOX vs. WGMI - Sectors Allocation Comparison

Sectors	BLOX	WGMI
Financial Services	60.7%	51.3%
Technology	39.3%	45.9%
Basic Materials	-	-
Communication Services	-	1.2%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.5%
Real Estate	-	-
Utilities	-	1.2%

Return for Risk

BLOX vs. WGMI — Risk / Return Rank

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

WGMI

WGMI Risk / Return Rank: 79
WGMI Sharpe Ratio Rank: 95
WGMI Sortino Ratio Rank: 76
WGMI Omega Ratio Rank: 69
WGMI Calmar Ratio Rank: 91
WGMI Martin Ratio Rank: 64

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. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) and Valkyrie Bitcoin Miners ETF (WGMI). 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.

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

Sharpe Ratios by Period

	BLOX	WGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.31	+0.23

Drawdowns

BLOX vs. WGMI - Drawdown Comparison

The maximum BLOX drawdown since its inception was -47.09%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for BLOX and WGMI.

Drawdown Indicators

	BLOX	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	-85.76%	+38.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-50.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-62.79%	—
Current Drawdown Current decline from peak	-19.45%	-1.11%	-18.34%
Average Drawdown Average peak-to-trough decline	-18.53%	-42.90%	+24.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	25.08%	—

Volatility

Volatility by Period

	BLOX	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	55.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	53.44%	76.03%	-22.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.44%	81.53%	-28.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.44%	81.53%	-28.09%

BLOX vs. WGMI - Expense Ratio Comparison

BLOX has a 1.03% expense ratio, which is higher than WGMI's 0.75% expense ratio.

Dividends

BLOX vs. WGMI - Dividend Comparison

BLOX's dividend yield for the trailing twelve months is around 36.81%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BLOX Nicholas Crypto Income ETF	36.81%	22.69%	0.00%	0.00%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both BLOX and WGMI in my portfolio?

BLOX and WGMI have a correlation of 0.83, 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 WGMI?

On fees, WGMI is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BLOX or WGMI?

WGMI is cheaper with a 0.75% expense ratio, compared with 1.03% for BLOX.

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

BLOX has the higher dividend yield at 36.81%, compared with 0.00% for WGMI.

What is the main difference between BLOX and WGMI?

They also come from different issuers: Nicholas and Valkyrie. Their fees differ too: 1.03% for BLOX and 0.75% for WGMI.