DOJE vs. ZCSH

Last updated Jun 4, 2026

DOJE (REX-Osprey DOGE ETF) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds - DOJE tracks the Dogecoin (DOGE) spot price while ZCSH tracks the Zcash (ZEC). Both are passively managed. At a 0.44 correlation, their price movements are largely independent. DOJE charges 1.50%/yr vs 2.50%/yr for ZCSH.

Performance

DOJE vs. ZCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX-Osprey DOGE ETF (DOJE) and Grayscale Zcash Trust (ZEC) (ZCSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOJE achieves a -22.00% return, which is significantly lower than ZCSH's 41.32% return.

DOJE

• 1D: -2.54%
• 1M: -17.62%
• YTD: -22.00%
• 6M: -39.82%
• 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*: —

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

DOJE vs. ZCSH - Yearly Performance Comparison

	2026 (YTD)	2025
DOJE REX-Osprey DOGE ETF	-22.00%	-58.63%
ZCSH Grayscale Zcash Trust (ZEC)	41.32%	590.99%

Correlation

The correlation between DOJE and ZCSH is 0.44, 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 Sep 19, 2025	0.44

Return for Risk

DOJE vs. ZCSH — Risk / Return Rank

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

ZCSH

ZCSH Risk / Return Rank: 92
ZCSH Sharpe Ratio Rank: 98
ZCSH Sortino Ratio Rank: 89
ZCSH Omega Ratio Rank: 81
ZCSH Calmar Ratio Rank: 98
ZCSH Martin Ratio Rank: 94

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.

DOJE vs. ZCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX-Osprey DOGE ETF (DOJE) 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.

Sharpe Ratios by Period

	DOJE	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	-1.02	0.10	-1.11

Drawdowns

DOJE vs. ZCSH - Drawdown Comparison

The maximum DOJE drawdown since its inception was -68.45%, smaller than the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for DOJE and ZCSH.

Drawdown Indicators

	DOJE	ZCSH	Difference
Max Drawdown Largest peak-to-trough decline	-68.45%	-93.73%	+25.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-69.62%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-71.90%	—
Current Drawdown Current decline from peak	-67.73%	-15.71%	-52.02%
Average Drawdown Average peak-to-trough decline	-52.04%	-74.41%	+22.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	35.49%	—

Volatility

Volatility by Period

	DOJE	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	79.01%	166.02%	-87.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.01%	136.87%	-57.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.01%	136.87%	-57.86%

DOJE vs. ZCSH - Expense Ratio Comparison

DOJE has a 1.50% expense ratio, which is lower than ZCSH's 2.50% expense ratio.

Dividends

DOJE vs. ZCSH - Dividend Comparison

Neither DOJE nor ZCSH has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DOJE and ZCSH in my portfolio?

DOJE and ZCSH have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DOJE or ZCSH?

On fees, DOJE is cheaper at 1.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DOJE or ZCSH?

DOJE is cheaper with a 1.50% expense ratio, compared with 2.50% for ZCSH.

Which ETF pays a higher dividend yield, DOJE or ZCSH?

DOJE and ZCSH have nearly identical dividend yields, around 0.00%.

What is the main difference between DOJE and ZCSH?

DOJE tracks Dogecoin (DOGE) spot price, while ZCSH tracks Zcash (ZEC). They also come from different issuers: REX-Osprey and Grayscale. Their fees differ too: 1.50% for DOJE and 2.50% for ZCSH.