NCIQ vs. IBLC
Compare and contrast key facts about Hashdex Nasdaq Crypto Index US ETF (NCIQ) and iShares Blockchain and Tech ETF (IBLC).
NCIQ and IBLC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NCIQ is a passively managed fund by Hashdex that tracks the performance of the Nasdaq Crypto US Settlement Price™ Index. It was launched on Feb 13, 2025. IBLC is a passively managed fund by iShares that tracks the performance of the ICE FactSet Global Blockchain Technologies Index. It was launched on Apr 25, 2022. Both NCIQ and IBLC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
NCIQ vs. IBLC - Performance Comparison
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NCIQ vs. IBLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NCIQ Hashdex Nasdaq Crypto Index US ETF | -24.20% | -10.21% |
IBLC iShares Blockchain and Tech ETF | -10.68% | 19.99% |
Returns By Period
In the year-to-date period, NCIQ achieves a -24.20% return, which is significantly lower than IBLC's -10.68% return.
NCIQ
- 1D
- 2.01%
- 1M
- 3.40%
- YTD
- -24.20%
- 6M
- -44.20%
- 1Y
- -17.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBLC
- 1D
- 6.56%
- 1M
- -5.99%
- YTD
- -10.68%
- 6M
- -29.99%
- 1Y
- 57.18%
- 3Y*
- 34.97%
- 5Y*
- —
- 10Y*
- —
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NCIQ vs. IBLC - Expense Ratio Comparison
NCIQ has a 0.25% expense ratio, which is lower than IBLC's 0.47% expense ratio.
Return for Risk
NCIQ vs. IBLC — Risk / Return Rank
NCIQ
IBLC
NCIQ vs. IBLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Nasdaq Crypto Index US ETF (NCIQ) 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.
| NCIQ | IBLC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.36 | 0.99 | -1.34 |
Sortino ratioReturn per unit of downside risk | -0.20 | 1.62 | -1.83 |
Omega ratioGain probability vs. loss probability | 0.98 | 1.19 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | -0.36 | 1.18 | -1.54 |
Martin ratioReturn relative to average drawdown | -0.76 | 2.64 | -3.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NCIQ | IBLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | 0.99 | -1.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 0.23 | -0.82 |
Correlation
The correlation between NCIQ and IBLC is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NCIQ vs. IBLC - Dividend Comparison
NCIQ has not paid dividends to shareholders, while IBLC's dividend yield for the trailing twelve months is around 7.06%.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NCIQ Hashdex Nasdaq Crypto Index US ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBLC iShares Blockchain and Tech ETF | 7.06% | 6.31% | 1.60% | 1.79% | 0.84% |
Drawdowns
NCIQ vs. IBLC - Drawdown Comparison
The maximum NCIQ drawdown since its inception was -52.90%, smaller than the maximum IBLC drawdown of -62.54%. Use the drawdown chart below to compare losses from any high point for NCIQ and IBLC.
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Drawdown Indicators
| NCIQ | IBLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.90% | -62.54% | +9.64% |
Max Drawdown (1Y)Largest decline over 1 year | -52.90% | -44.94% | -7.96% |
Current DrawdownCurrent decline from peak | -49.31% | -41.28% | -8.03% |
Average DrawdownAverage peak-to-trough decline | -18.35% | -26.00% | +7.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.85% | 20.15% | +4.70% |
Volatility
NCIQ vs. IBLC - Volatility Comparison
The current volatility for Hashdex Nasdaq Crypto Index US ETF (NCIQ) is 13.78%, while iShares Blockchain and Tech ETF (IBLC) has a volatility of 18.51%. This indicates that NCIQ experiences smaller price fluctuations and is considered to be less risky than IBLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCIQ | IBLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.78% | 18.51% | -4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 40.14% | 44.23% | -4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.13% | 58.34% | -9.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.71% | 65.16% | -15.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.71% | 65.16% | -15.45% |