BLOX vs. ZCSH
BLOX (Nicholas Crypto Income ETF) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds. BLOX is actively managed, while ZCSH is passively managed. At a 0.49 correlation, their price movements are largely independent. BLOX charges 1.03%/yr vs 2.50%/yr for ZCSH.
Performance
BLOX vs. ZCSH - Performance Comparison
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Returns By Period
In the year-to-date period, BLOX achieves a 16.52% return, which is significantly lower than ZCSH's 41.32% return.
BLOX
- 1D
- -2.56%
- 1M
- 10.59%
- YTD
- 16.52%
- 6M
- 5.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZCSH
- 1D
- -5.29%
- 1M
- 47.90%
- YTD
- 41.32%
- 6M
- 72.54%
- 1Y
- 1,002.48%
- 3Y*
- 185.96%
- 5Y*
- —
- 10Y*
- —
BLOX vs. ZCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BLOX Nicholas Crypto Income ETF | 16.52% | 9.24% |
ZCSH Grayscale Zcash Trust (ZEC) | 41.32% | 770.91% |
Correlation
The correlation between BLOX and ZCSH is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025 | 0.49 |
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Return for Risk
BLOX vs. ZCSH — Risk / Return Rank
BLOX
ZCSH
BLOX vs. ZCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) and Grayscale Zcash Trust (ZEC) (ZCSH). 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.
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Sharpe Ratios by Period
| BLOX | ZCSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 6.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.10 | +0.44 |
Drawdowns
BLOX vs. ZCSH - Drawdown Comparison
The maximum BLOX drawdown since its inception was -47.09%, smaller than the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for BLOX and ZCSH.
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Drawdown Indicators
| BLOX | ZCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.09% | -93.73% | +46.64% |
Max Drawdown (1Y)Largest decline over 1 year | — | -69.62% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -71.90% | — |
Current DrawdownCurrent decline from peak | -19.45% | -15.71% | -3.74% |
Average DrawdownAverage peak-to-trough decline | -18.53% | -74.41% | +55.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 35.49% | — |
Volatility
BLOX vs. ZCSH - Volatility Comparison
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Volatility by Period
| BLOX | ZCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 48.45% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 94.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 53.44% | 166.02% | -112.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.44% | 136.87% | -83.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.44% | 136.87% | -83.43% |
BLOX vs. ZCSH - Expense Ratio Comparison
BLOX has a 1.03% expense ratio, which is lower than ZCSH's 2.50% expense ratio.
Dividends
BLOX vs. ZCSH - Dividend Comparison
BLOX's dividend yield for the trailing twelve months is around 36.81%, while ZCSH has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BLOX Nicholas Crypto Income ETF | 36.81% | 22.69% |
ZCSH Grayscale Zcash Trust (ZEC) | 0.00% | 0.00% |
Frequently Asked Questions
BLOX and ZCSH have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
BLOX is cheaper with a 1.03% expense ratio, compared with 2.50% for ZCSH.
BLOX has the higher dividend yield at 36.81%, compared with 0.00% for ZCSH.
They also come from different issuers: Nicholas and Grayscale. Their fees differ too: 1.03% for BLOX and 2.50% for ZCSH.
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