ESK vs. BHDG

Last updated Jun 4, 2026

ESK (REX-Osprey ETH + Staking ETF) and BHDG (Nicholas Bitcoin Tail ETF) are both Cryptocurrency funds. Both are actively managed. At a correlation of -0.87, they often move in opposite directions. ESK charges 0.75%/yr vs 0.97%/yr for BHDG.

Performance

ESK vs. BHDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX-Osprey ETH + Staking ETF (ESK) and Nicholas Bitcoin Tail ETF (BHDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ESK

• 1D: -6.26%
• 1M: -24.17%
• YTD: -39.23%
• 6M: -42.40%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BHDG

• 1D: 1.46%
• 1M: 6.79%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ESK vs. BHDG - Yearly Performance Comparison

	2026 (YTD)
ESK REX-Osprey ETH + Staking ETF	-18.29%
BHDG Nicholas Bitcoin Tail ETF	-3.79%

Correlation

The correlation between ESK and BHDG is -0.87, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	-0.87

Return for Risk

ESK vs. BHDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX-Osprey ETH + Staking ETF (ESK) and Nicholas Bitcoin Tail ETF (BHDG). 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

	ESK	BHDG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.99	-0.91	-0.09

Drawdowns

ESK vs. BHDG - Drawdown Comparison

The maximum ESK drawdown since its inception was -61.14%, which is greater than BHDG's maximum drawdown of -15.06%. Use the drawdown chart below to compare losses from any high point for ESK and BHDG.

Drawdown Indicators

	ESK	BHDG	Difference
Max Drawdown Largest peak-to-trough decline	-61.14%	-15.06%	-46.08%
Current Drawdown Current decline from peak	-61.14%	-7.70%	-53.44%
Average Drawdown Average peak-to-trough decline	-40.19%	-9.28%	-30.91%

Volatility

Volatility by Period

	ESK	BHDG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	67.24%	18.70%	+48.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.24%	18.70%	+48.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.24%	18.70%	+48.54%

ESK vs. BHDG - Expense Ratio Comparison

ESK has a 0.75% expense ratio, which is lower than BHDG's 0.97% expense ratio.

Dividends

ESK vs. BHDG - Dividend Comparison

ESK's dividend yield for the trailing twelve months is around 0.97%, while BHDG has not paid dividends to shareholders.

Position	TTM	2025
BHDG Nicholas Bitcoin Tail ETF	0.00%	0.00%
ESK REX-Osprey ETH + Staking ETF	0.97%	0.30%

Frequently Asked Questions

Can I hold both ESK and BHDG in my portfolio?

ESK and BHDG have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESK or BHDG?

On fees, ESK 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, ESK or BHDG?

ESK is cheaper with a 0.75% expense ratio, compared with 0.97% for BHDG.

Which ETF pays a higher dividend yield, ESK or BHDG?

ESK has the higher dividend yield at 0.97%, compared with 0.00% for BHDG.

What is the main difference between ESK and BHDG?

They also come from different issuers: REX Shares and Nicholas. Their fees differ too: 0.75% for ESK and 0.97% for BHDG.