HYPG vs. TSOL

Last updated Jun 30, 2026

HYPG (Grayscale Hyperliquid Staking ETF) and TSOL (21Shares Solana ETF) are both exchange-traded funds - HYPG is a Blockchain fund actively managed by Grayscale, while TSOL is a Cryptocurrency fund actively managed by 21Shares. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined.

Performance

HYPG vs. TSOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Hyperliquid Staking ETF (HYPG) and 21Shares Solana ETF (TSOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYPG

• 1D: 3.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSOL

• 1D: 3.86%
• 1M: -7.45%
• YTD: -38.28%
• 6M: -37.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYPG vs. TSOL - Yearly Performance Comparison

	2026 (YTD)
HYPG Grayscale Hyperliquid Staking ETF	-8.85%
TSOL 21Shares Solana ETF	0.72%

Correlation

The correlation between HYPG and TSOL is 0.77, 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 3, 2026	0.77

Return for Risk

HYPG vs. TSOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Hyperliquid Staking ETF (HYPG) and 21Shares Solana ETF (TSOL). 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.

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

Drawdowns

HYPG vs. TSOL - Drawdown Comparison

The maximum HYPG drawdown since its inception was -26.56%, smaller than the maximum TSOL drawdown of -56.62%. Use the drawdown chart below to compare losses from any high point for HYPG and TSOL.

Drawdown Indicators

	HYPG	TSOL	Difference
Max Drawdown Largest peak-to-trough decline	-26.56%	-56.62%	+30.06%
Current Drawdown Current decline from peak	-8.91%	-48.05%	+39.14%
Average Drawdown Average peak-to-trough decline	-12.29%	-31.82%	+19.53%

Volatility

Volatility by Period

	HYPG	TSOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	109.96%	73.91%	+36.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	109.96%	73.91%	+36.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	109.96%	73.91%	+36.05%

Dividends

HYPG vs. TSOL - Dividend Comparison

HYPG has not paid dividends to shareholders, while TSOL's dividend yield for the trailing twelve months is around 5.04%.

Position	TTM
HYPG Grayscale Hyperliquid Staking ETF	0.00%
TSOL 21Shares Solana ETF	5.04%

Frequently Asked Questions

Can I hold both HYPG and TSOL in my portfolio?

HYPG and TSOL have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, HYPG or TSOL?

TSOL has the higher dividend yield at 5.04%, compared with 0.00% for HYPG.

What is the main difference between HYPG and TSOL?

HYPG is categorized as Blockchain, while TSOL is Cryptocurrency. They also come from different issuers: Grayscale and 21Shares.