ETH vs. BLOX

Last updated Jun 24, 2026

ETH (Grayscale Ethereum Staking Mini ETF) and BLOX (Nicholas Crypto Income ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, ETH returned -27.60% vs 25.91% for BLOX. A 0.78 correlation means they provide meaningful diversification when combined. ETH charges 0.15%/yr vs 1.03%/yr for BLOX.

Performance

ETH vs. BLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Ethereum Staking Mini ETF (ETH) and Nicholas Crypto Income ETF (BLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETH achieves a -43.73% return, which is significantly lower than BLOX's 14.14% return.

ETH

• 1D: -4.13%
• 1M: -19.44%
• YTD: -43.73%
• 6M: -43.65%
• 1Y: -27.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLOX

• 1D: -2.16%
• 1M: 1.81%
• YTD: 14.14%
• 6M: 8.96%
• 1Y: 25.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETH vs. BLOX - Yearly Performance Comparison

	2026 (YTD)	2025
ETH Grayscale Ethereum Staking Mini ETF	-43.73%	11.88%
BLOX Nicholas Crypto Income ETF	14.14%	8.17%

Correlation

The correlation between ETH and BLOX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025	0.78

The correlation between ETH and BLOX has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

Return for Risk

ETH vs. BLOX — Risk / Return Rank

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

ETH

ETH Risk / Return Rank: 6
ETH Sharpe Ratio Rank: 6
ETH Sortino Ratio Rank: 6
ETH Omega Ratio Rank: 6
ETH Calmar Ratio Rank: 5
ETH Martin Ratio Rank: 6

BLOX

BLOX Risk / Return Rank: 16
BLOX Sharpe Ratio Rank: 16
BLOX Sortino Ratio Rank: 19
BLOX Omega Ratio Rank: 18
BLOX Calmar Ratio Rank: 15
BLOX Martin Ratio Rank: 14

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.

ETH vs. BLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) and Nicholas Crypto Income ETF (BLOX). 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.

	ETH	BLOX	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	0.48	-0.88
Sortino ratio: Return per unit of downside risk	-0.18	1.00	-1.18
Omega ratio: Gain probability vs. loss probability	0.98	1.12	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.41	0.55	-0.96
Martin ratio: Return relative to average drawdown	-0.69	1.11	-1.80

ETH vs. BLOX - Sharpe Ratio Comparison

The current ETH Sharpe Ratio is -0.40, which is lower than the BLOX Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of ETH and BLOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETH vs. BLOX - Drawdown Comparison

The maximum ETH drawdown since its inception was -67.19%, which is greater than BLOX's maximum drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for ETH and BLOX.

Drawdown Indicators

	ETH	BLOX	Difference
Max Drawdown Largest peak-to-trough decline	-67.19%	-47.09%	-20.10%
Max Drawdown (1Y) Largest decline over 1 year	-67.19%	-47.09%	-20.10%
Current Drawdown Current decline from peak	-65.34%	-21.10%	-44.24%
Average Drawdown Average peak-to-trough decline	-33.50%	-18.66%	-14.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.15%	23.45%	+16.70%

Volatility

ETH vs. BLOX - Volatility Comparison

Grayscale Ethereum Staking Mini ETF (ETH) has a higher volatility of 19.75% compared to Nicholas Crypto Income ETF (BLOX) at 15.68%. This indicates that ETH's price experiences larger fluctuations and is considered to be riskier than BLOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETH	BLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.75%	15.68%	+4.07%
Volatility (6M) Calculated over the trailing 6-month period	46.93%	41.09%	+5.84%
Volatility (1Y) Calculated over the trailing 1-year period	69.05%	54.17%	+14.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.37%	53.89%	+18.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.37%	53.89%	+18.48%

ETH vs. BLOX - Expense Ratio Comparison

ETH has a 0.15% expense ratio, which is lower than BLOX's 1.03% expense ratio.

Dividends

ETH vs. BLOX - Dividend Comparison

ETH has not paid dividends to shareholders, while BLOX's dividend yield for the trailing twelve months is around 40.47%.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	40.47%	22.69%
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETH and BLOX in my portfolio?

ETH and BLOX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETH or BLOX?

ETH has higher volatility (19.75%) compared to BLOX (15.68%). In terms of maximum drawdown, ETH dropped -67.19% vs BLOX's -47.09%.

Which ETF is better, ETH or BLOX?

On 1-year performance, BLOX leads with 25.91% vs -27.60% for ETH. On fees, ETH is cheaper at 0.15% per year. On volatility, BLOX has been the lower-risk option at 15.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETH or BLOX?

Over the 1-year period, BLOX has performed better with a 25.91% return vs -27.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETH or BLOX?

ETH is cheaper with a 0.15% expense ratio, compared with 1.03% for BLOX.

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

BLOX has the higher dividend yield at 40.47%, compared with 0.00% for ETH.

What is the main difference between ETH and BLOX?

They also come from different issuers: Grayscale and Nicholas. Their fees differ too: 0.15% for ETH and 1.03% for BLOX.

Which has better risk-adjusted returns?

BLOX currently has the higher Sharpe Ratio (0.48 vs -0.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.