FIAX vs. BLOX

Last updated Jul 15, 2026

FIAX (Nicholas Fixed Income Alternative ETF) and BLOX (Nicholas Crypto Income ETF) are both exchange-traded funds - FIAX is a Nontraditional Bonds fund actively managed by Nicholas, while BLOX is a Cryptocurrency fund actively managed by Nicholas. Both are actively managed. Over the past year, FIAX returned 4.74% vs -9.66% for BLOX. At a 0.30 correlation, their price movements are largely independent. FIAX charges 1.04%/yr vs 1.03%/yr for BLOX.

Performance

FIAX vs. BLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Fixed Income Alternative ETF (FIAX) 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, FIAX achieves a 1.90% return, which is significantly higher than BLOX's -1.51% return.

FIAX

• 1D: 0.17%
• 1M: 0.50%
• 6M: 1.53%
• YTD: 1.90%
• 1Y: 4.74%
• 3Y*: 3.43%
• 5Y*: —
• 10Y*: —

BLOX

• 1D: 0.93%
• 1M: -12.07%
• 6M: -15.20%
• YTD: -1.51%
• 1Y: -9.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FIAX vs. BLOX - Yearly Performance Comparison

	2026 (YTD)	2025
FIAX Nicholas Fixed Income Alternative ETF	1.90%	3.29%
BLOX Nicholas Crypto Income ETF	-1.51%	8.17%

Correlation

The correlation between FIAX and BLOX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025	0.30

Return for Risk

FIAX vs. BLOX — Risk / Return Rank

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

FIAX

FIAX Risk / Return Rank: 45
FIAX Sharpe Ratio Rank: 41
FIAX Sortino Ratio Rank: 41
FIAX Omega Ratio Rank: 41
FIAX Calmar Ratio Rank: 49
FIAX Martin Ratio Rank: 54

BLOX

BLOX Risk / Return Rank: 8
BLOX Sharpe Ratio Rank: 7
BLOX Sortino Ratio Rank: 9
BLOX Omega Ratio Rank: 9
BLOX Calmar Ratio Rank: 7
BLOX Martin Ratio Rank: 7

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.

FIAX vs. BLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Fixed Income Alternative ETF (FIAX) 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.

	FIAX	BLOX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	-0.18	+1.36
Sortino ratio: Return per unit of downside risk	1.73	0.12	+1.61
Omega ratio: Gain probability vs. loss probability	1.22	1.01	+0.21
Calmar ratio: Return relative to maximum drawdown	1.99	-0.21	+2.19
Martin ratio: Return relative to average drawdown	7.43	-0.40	+7.82

FIAX vs. BLOX - Sharpe Ratio Comparison

The current FIAX Sharpe Ratio is 1.18, which is higher than the BLOX Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of FIAX 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

FIAX vs. BLOX - Drawdown Comparison

The maximum FIAX drawdown since its inception was -6.26%, smaller than the maximum BLOX drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for FIAX and BLOX.

Drawdown Indicators

	FIAX	BLOX	Difference
Max Drawdown Largest peak-to-trough decline	-6.26%	-47.09%	+40.83%
Max Drawdown (1Y) Largest decline over 1 year	-2.40%	-47.09%	+44.69%
Max Drawdown (3Y) Largest decline over 3 years	-6.26%	—	—
Current Drawdown Current decline from peak	-0.17%	-31.91%	+31.74%
Average Drawdown Average peak-to-trough decline	-0.83%	-19.17%	+18.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	24.41%	-23.77%

Volatility

FIAX vs. BLOX - Volatility Comparison

The current volatility for Nicholas Fixed Income Alternative ETF (FIAX) is 0.76%, while Nicholas Crypto Income ETF (BLOX) has a volatility of 12.40%. This indicates that FIAX experiences smaller price fluctuations and is considered to be less risky than BLOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIAX	BLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	12.40%	-11.64%
Volatility (6M) Calculated over the trailing 6-month period	3.27%	40.81%	-37.54%
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	54.49%	-50.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.00%	53.55%	-49.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.00%	53.55%	-49.55%

FIAX vs. BLOX - Expense Ratio Comparison

FIAX has a 1.04% expense ratio, which is higher than BLOX's 1.03% expense ratio.

Dividends

FIAX vs. BLOX - Dividend Comparison

FIAX's dividend yield for the trailing twelve months is around 8.17%, less than BLOX's 48.13% yield.

Position	TTM	2025	2024	2023
BLOX Nicholas Crypto Income ETF	48.13%	22.69%	0.00%	0.00%
FIAX Nicholas Fixed Income Alternative ETF	8.17%	8.17%	8.11%	4.81%

Frequently Asked Questions

Can I hold both FIAX and BLOX in my portfolio?

FIAX and BLOX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIAX or BLOX?

BLOX has higher volatility (12.40%) compared to FIAX (0.76%). In terms of maximum drawdown, FIAX dropped -6.26% vs BLOX's -47.09%.

Which ETF is better, FIAX or BLOX?

On 1-year performance, FIAX leads with 4.74% vs -9.66% for BLOX. On fees, BLOX is cheaper at 1.03% per year. On volatility, FIAX has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIAX or BLOX?

Over the 1-year period, FIAX has performed better with a 4.74% return vs -9.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIAX or BLOX?

BLOX is cheaper with a 1.03% expense ratio, compared with 1.04% for FIAX.

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

BLOX has the higher dividend yield at 48.13%, compared with 8.17% for FIAX.

What is the main difference between FIAX and BLOX?

FIAX is categorized as Nontraditional Bonds, while BLOX is Cryptocurrency. Their fees differ too: 1.04% for FIAX and 1.03% for BLOX.

Which has better risk-adjusted returns?

FIAX currently has the higher Sharpe Ratio (1.18 vs -0.18), 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.