GSUI vs. IBLC

Last updated Jun 4, 2026

GSUI (Grayscale Sui Staking ETF) and IBLC (iShares Blockchain and Tech ETF) are both Cryptocurrency funds - GSUI tracks the CoinDesk SUI Reference Rate while IBLC tracks the ICE FactSet Global Blockchain Technologies Index. Both are passively managed. At a 0.49 correlation, their price movements are largely independent. GSUI charges 0.00%/yr vs 0.47%/yr for IBLC.

Performance

GSUI vs. IBLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Sui Staking ETF (GSUI) and iShares Blockchain and Tech ETF (IBLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSUI achieves a -39.93% return, which is significantly lower than IBLC's 32.34% return.

GSUI

• 1D: -1.09%
• 1M: -12.82%
• YTD: -39.93%
• 6M: -46.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBLC

• 1D: -3.00%
• 1M: 13.52%
• YTD: 32.34%
• 6M: 15.25%
• 1Y: 73.27%
• 3Y*: 48.31%
• 5Y*: —
• 10Y*: —

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

GSUI vs. IBLC - Yearly Performance Comparison

	2026 (YTD)	2025
GSUI Grayscale Sui Staking ETF	-39.93%	-34.63%
IBLC iShares Blockchain and Tech ETF	32.34%	-7.21%

Correlation

The correlation between GSUI and IBLC is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.49

Return for Risk

GSUI vs. IBLC — Risk / Return Rank

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

IBLC

IBLC Risk / Return Rank: 33
IBLC Sharpe Ratio Rank: 37
IBLC Sortino Ratio Rank: 36
IBLC Omega Ratio Rank: 33
IBLC Calmar Ratio Rank: 33
IBLC Martin Ratio Rank: 24

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.

GSUI vs. IBLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Sui Staking ETF (GSUI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GSUI	IBLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	0.40	-1.18

Drawdowns

GSUI vs. IBLC - Drawdown Comparison

The maximum GSUI drawdown since its inception was -60.73%, roughly equal to the maximum IBLC drawdown of -62.54%. Use the drawdown chart below to compare losses from any high point for GSUI and IBLC.

Drawdown Indicators

	GSUI	IBLC	Difference
Max Drawdown Largest peak-to-trough decline	-60.73%	-62.54%	+1.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-44.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-51.68%	—
Current Drawdown Current decline from peak	-60.73%	-12.99%	-47.74%
Average Drawdown Average peak-to-trough decline	-43.81%	-25.89%	-17.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	22.56%	—

Volatility

Volatility by Period

	GSUI	IBLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.67%	—
Volatility (6M) Calculated over the trailing 6-month period	—	40.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	107.79%	54.94%	+52.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.79%	64.49%	+43.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.79%	64.49%	+43.30%

GSUI vs. IBLC - Expense Ratio Comparison

GSUI has a 0.00% expense ratio, which is lower than IBLC's 0.47% expense ratio.

Dividends

GSUI vs. IBLC - Dividend Comparison

GSUI has not paid dividends to shareholders, while IBLC's dividend yield for the trailing twelve months is around 4.77%.

Position	TTM	2025	2024	2023	2022
GSUI Grayscale Sui Staking ETF	0.00%	0.00%	0.00%	0.00%	0.00%
IBLC iShares Blockchain and Tech ETF	4.77%	6.31%	1.60%	1.79%	0.84%

Frequently Asked Questions

Can I hold both GSUI and IBLC in my portfolio?

GSUI and IBLC have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GSUI or IBLC?

On fees, GSUI is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GSUI or IBLC?

GSUI is cheaper with a 0.00% expense ratio, compared with 0.47% for IBLC.

Which ETF pays a higher dividend yield, GSUI or IBLC?

IBLC has the higher dividend yield at 4.77%, compared with 0.00% for GSUI.

What is the main difference between GSUI and IBLC?

GSUI tracks CoinDesk SUI Reference Rate, while IBLC tracks ICE FactSet Global Blockchain Technologies Index. They also come from different issuers: Grayscale and iShares. Their fees differ too: 0.00% for GSUI and 0.47% for IBLC.