HBR vs. BLOX

Last updated Jun 5, 2026

HBR (Canary HBAR ETF) and BLOX (Nicholas Crypto Income ETF) are both Cryptocurrency funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. HBR charges 0.50%/yr vs 1.03%/yr for BLOX.

Performance

HBR vs. BLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canary HBAR ETF (HBR) 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, HBR achieves a -21.13% return, which is significantly lower than BLOX's 15.59% return.

HBR

• 1D: -0.93%
• 1M: -6.67%
• YTD: -21.13%
• 6M: -39.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLOX

• 1D: -0.80%
• 1M: 5.80%
• YTD: 15.59%
• 6M: 2.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HBR vs. BLOX - Yearly Performance Comparison

	2026 (YTD)	2025
HBR Canary HBAR ETF	-21.13%	-46.02%
BLOX Nicholas Crypto Income ETF	15.59%	-28.90%

Correlation

The correlation between HBR and BLOX 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 Oct 29, 2025	0.69

Return for Risk

HBR vs. BLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canary HBAR ETF (HBR) 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.

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

Sharpe Ratios by Period

	HBR	BLOX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.03	0.52	-1.55

Drawdowns

HBR vs. BLOX - Drawdown Comparison

The maximum HBR drawdown since its inception was -61.62%, which is greater than BLOX's maximum drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for HBR and BLOX.

Drawdown Indicators

	HBR	BLOX	Difference
Max Drawdown Largest peak-to-trough decline	-61.62%	-47.09%	-14.53%
Current Drawdown Current decline from peak	-57.93%	-20.09%	-37.84%
Average Drawdown Average peak-to-trough decline	-45.15%	-18.53%	-26.62%

Volatility

Volatility by Period

	HBR	BLOX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	73.88%	53.34%	+20.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.88%	53.34%	+20.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.88%	53.34%	+20.54%

HBR vs. BLOX - Expense Ratio Comparison

HBR has a 0.50% expense ratio, which is lower than BLOX's 1.03% expense ratio.

Dividends

HBR vs. BLOX - Dividend Comparison

HBR has not paid dividends to shareholders, while BLOX's dividend yield for the trailing twelve months is around 37.11%.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	37.11%	22.69%
HBR Canary HBAR ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both HBR and BLOX in my portfolio?

HBR and BLOX 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.

Which ETF is better, HBR or BLOX?

On fees, HBR is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HBR or BLOX?

HBR is cheaper with a 0.50% expense ratio, compared with 1.03% for BLOX.

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

BLOX has the higher dividend yield at 37.11%, compared with 0.00% for HBR.

What is the main difference between HBR and BLOX?

They also come from different issuers: Canary Capital and Nicholas. Their fees differ too: 0.50% for HBR and 1.03% for BLOX.