GIAX vs. BLOX

Last updated Jun 4, 2026

GIAX (Nicholas Global Equity and Income ETF) and BLOX (Nicholas Crypto Income ETF) are both exchange-traded funds - GIAX is a Derivative Income fund actively managed by Nicholas, while BLOX is a Cryptocurrency fund actively managed by Nicholas. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. GIAX charges 0.97%/yr vs 1.03%/yr for BLOX.

Performance

GIAX vs. BLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Global Equity and Income ETF (GIAX) 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, GIAX achieves a 22.12% return, which is significantly higher than BLOX's 16.52% return.

GIAX

• 1D: -2.89%
• 1M: 12.88%
• YTD: 22.12%
• 6M: 19.89%
• 1Y: 31.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLOX

• 1D: -2.56%
• 1M: 10.59%
• YTD: 16.52%
• 6M: 5.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GIAX vs. BLOX - Yearly Performance Comparison

	2026 (YTD)	2025
GIAX Nicholas Global Equity and Income ETF	22.12%	7.78%
BLOX Nicholas Crypto Income ETF	16.52%	9.24%

Correlation

The correlation between GIAX and BLOX is 0.75, 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 Jun 18, 2025	0.75

GIAX vs. BLOX - Sectors Allocation Comparison

Sectors	GIAX	BLOX
Technology	36.5%	39.3%
Communication Services	14.8%	-
Financial Services	14.0%	60.7%
Consumer Cyclical	11.8%	-
Industrials	5.8%	-
Basic Materials	4.4%	-
Utilities	4.0%	-
Healthcare	3.1%	-
Real Estate	2.9%	-
Consumer Defensive	1.4%	-
Energy	1.3%	-

Return for Risk

GIAX vs. BLOX — Risk / Return Rank

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

GIAX

GIAX Risk / Return Rank: 41
GIAX Sharpe Ratio Rank: 41
GIAX Sortino Ratio Rank: 39
GIAX Omega Ratio Rank: 41
GIAX Calmar Ratio Rank: 36
GIAX Martin Ratio Rank: 47

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.

GIAX vs. BLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Global Equity and Income ETF (GIAX) 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.

	GIAX	BLOX	Difference
Sharpe ratio Return per unit of total volatility	1.47	—	—
Sortino ratio Return per unit of downside risk	2.04	—	—
Omega ratio Gain probability vs. loss probability	1.27	—	—
Calmar ratio Return relative to maximum drawdown	1.81	—	—
Martin ratio Return relative to average drawdown	7.84	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GIAX	BLOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.54	+0.44

Drawdowns

GIAX vs. BLOX - Drawdown Comparison

The maximum GIAX drawdown since its inception was -20.38%, smaller than the maximum BLOX drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for GIAX and BLOX.

Drawdown Indicators

	GIAX	BLOX	Difference
Max Drawdown Largest peak-to-trough decline	-20.38%	-47.09%	+26.71%
Max Drawdown (1Y) Largest decline over 1 year	-17.62%	—	—
Current Drawdown Current decline from peak	-2.89%	-19.45%	+16.56%
Average Drawdown Average peak-to-trough decline	-2.99%	-18.53%	+15.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	—	—

Volatility

Volatility by Period

	GIAX	BLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.77%	53.44%	-31.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.46%	53.44%	-31.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	53.44%	-31.98%

GIAX vs. BLOX - Expense Ratio Comparison

GIAX has a 0.97% expense ratio, which is lower than BLOX's 1.03% expense ratio.

Dividends

GIAX vs. BLOX - Dividend Comparison

GIAX's dividend yield for the trailing twelve months is around 22.33%, less than BLOX's 36.81% yield.

Position	TTM	2025	2024
BLOX Nicholas Crypto Income ETF	36.81%	22.69%	0.00%
GIAX Nicholas Global Equity and Income ETF	22.33%	25.62%	10.58%

Frequently Asked Questions

Can I hold both GIAX and BLOX in my portfolio?

GIAX and BLOX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GIAX or BLOX?

On fees, GIAX is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GIAX or BLOX?

GIAX is cheaper with a 0.97% expense ratio, compared with 1.03% for BLOX.

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

BLOX has the higher dividend yield at 36.81%, compared with 22.33% for GIAX.

What is the main difference between GIAX and BLOX?

GIAX is categorized as Derivative Income, while BLOX is Cryptocurrency. Their fees differ too: 0.97% for GIAX and 1.03% for BLOX.