ETCO vs. IBLC
ETCO (Grayscale Ethereum Covered Call ETF) and IBLC (iShares Blockchain and Tech ETF) are both Cryptocurrency funds. ETCO is actively managed, while IBLC is passively managed. A 0.69 correlation means they provide meaningful diversification when combined. ETCO charges 0.66%/yr vs 0.47%/yr for IBLC.
Performance
ETCO vs. IBLC - Performance Comparison
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Returns By Period
In the year-to-date period, ETCO achieves a -36.64% return, which is significantly lower than IBLC's 12.78% return.
ETCO
- 1D
- 1.20%
- 1M
- 1.79%
- 6M
- -37.86%
- YTD
- -36.64%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBLC
- 1D
- -0.70%
- 1M
- -10.74%
- 6M
- 1.24%
- YTD
- 12.78%
- 1Y
- 17.57%
- 3Y*
- 30.60%
- 5Y*
- —
- 10Y*
- —
ETCO vs. IBLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -36.64% | -26.08% |
IBLC iShares Blockchain and Tech ETF | 12.78% | -2.01% |
Correlation
The correlation between ETCO and IBLC is 0.69, 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 Sep 4, 2025 | 0.69 |
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Return for Risk
ETCO vs. IBLC — Risk / Return Rank
ETCO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBLC
ETCO vs. IBLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Covered Call ETF (ETCO) and iShares Blockchain and Tech ETF (IBLC). 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.
| ETCO | IBLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.09 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.36 | — |
| Martin ratioReturn relative to average drawdown | — | 0.69 | — |
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Drawdowns
ETCO vs. IBLC - Drawdown Comparison
The maximum ETCO drawdown since its inception was -59.43%, roughly equal to the maximum IBLC drawdown of -62.54%. Use the drawdown chart below to compare losses from any high point for ETCO and IBLC.
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Drawdown Indicators
| ETCO | IBLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.43% | -62.54% | +3.11% |
Max Drawdown (1Y)Largest decline over 1 year | — | -44.94% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -51.68% | — |
Current DrawdownCurrent decline from peak | -56.55% | -25.85% | -30.70% |
Average DrawdownAverage peak-to-trough decline | -36.97% | -25.74% | -11.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 23.47% | — |
Volatility
ETCO vs. IBLC - Volatility Comparison
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Volatility by Period
| ETCO | IBLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.47% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 41.16% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 51.92% | 55.41% | -3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.92% | 64.34% | -12.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.92% | 64.34% | -12.42% |
ETCO vs. IBLC - Expense Ratio Comparison
ETCO has a 0.66% expense ratio, which is higher than IBLC's 0.47% expense ratio.
Dividends
ETCO vs. IBLC - Dividend Comparison
ETCO's dividend yield for the trailing twelve months is around 146.11%, more than IBLC's 5.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | 146.11% | 42.29% | 0.00% | 0.00% | 0.00% |
IBLC iShares Blockchain and Tech ETF | 5.55% | 6.31% | 1.60% | 1.79% | 0.84% |
Frequently Asked Questions
ETCO and IBLC have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBLC is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBLC is cheaper with a 0.47% expense ratio, compared with 0.66% for ETCO.
ETCO has the higher dividend yield at 146.11%, compared with 5.55% for IBLC.
They also come from different issuers: Grayscale and iShares. Their fees differ too: 0.66% for ETCO and 0.47% for IBLC.
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