NCIQ vs. ILS

Last updated Jun 4, 2026

NCIQ (Hashdex Nasdaq Crypto Index US ETF) and ILS (Brookmont Catastrophic Bond ETF) are both exchange-traded funds - NCIQ is a Cryptocurrency fund tracking the Nasdaq Crypto US Settlement Price™ Index, while ILS is a Nontraditional Bonds fund actively managed by Brookmont. NCIQ is passively managed, while ILS is actively managed. Over the past year, NCIQ returned -40.00% vs 7.67% for ILS. At a correlation of -0.10, they often move in opposite directions. NCIQ charges 0.25%/yr vs 1.58%/yr for ILS.

Performance

NCIQ vs. ILS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hashdex Nasdaq Crypto Index US ETF (NCIQ) and Brookmont Catastrophic Bond ETF (ILS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NCIQ achieves a -28.25% return, which is significantly lower than ILS's 1.81% return.

NCIQ

• 1D: -2.92%
• 1M: -18.28%
• YTD: -28.25%
• 6M: -33.10%
• 1Y: -40.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ILS

• 1D: 0.05%
• 1M: 0.45%
• YTD: 1.81%
• 6M: 2.12%
• 1Y: 7.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NCIQ vs. ILS - Yearly Performance Comparison

	2026 (YTD)	2025
NCIQ Hashdex Nasdaq Crypto Index US ETF	-28.25%	5.64%
ILS Brookmont Catastrophic Bond ETF	1.81%	5.60%

Correlation

The correlation between NCIQ and ILS is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	-0.10

Return for Risk

NCIQ vs. ILS — Risk / Return Rank

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

NCIQ

NCIQ Risk / Return Rank: 3
NCIQ Sharpe Ratio Rank: 2
NCIQ Sortino Ratio Rank: 3
NCIQ Omega Ratio Rank: 3
NCIQ Calmar Ratio Rank: 3
NCIQ Martin Ratio Rank: 3

ILS

ILS Risk / Return Rank: 93
ILS Sharpe Ratio Rank: 84
ILS Sortino Ratio Rank: 92
ILS Omega Ratio Rank: 92
ILS Calmar Ratio Rank: 98
ILS Martin Ratio Rank: 97

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.

NCIQ vs. ILS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hashdex Nasdaq Crypto Index US ETF (NCIQ) and Brookmont Catastrophic Bond ETF (ILS). 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	ILS	Difference
Sharpe ratio Return per unit of total volatility	-0.85	2.79	-3.64
Sortino ratio Return per unit of downside risk	-1.15	4.56	-5.72
Omega ratio Gain probability vs. loss probability	0.87	1.62	-0.75
Calmar ratio Return relative to maximum drawdown	-0.76	13.93	-14.69
Martin ratio Return relative to average drawdown	-1.29	46.57	-47.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NCIQ vs. ILS - Sharpe Ratio Comparison

The current NCIQ Sharpe Ratio is -0.85, which is lower than the ILS Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of NCIQ and ILS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NCIQ	ILS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	2.79	-3.64
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	1.90	-2.50

Drawdowns

NCIQ vs. ILS - Drawdown Comparison

The maximum NCIQ drawdown since its inception was -52.90%, which is greater than ILS's maximum drawdown of -1.56%. Use the drawdown chart below to compare losses from any high point for NCIQ and ILS.

Drawdown Indicators

	NCIQ	ILS	Difference
Max Drawdown Largest peak-to-trough decline	-52.90%	-1.56%	-51.34%
Max Drawdown (1Y) Largest decline over 1 year	-52.90%	-0.55%	-52.35%
Current Drawdown Current decline from peak	-52.01%	0.00%	-52.01%
Average Drawdown Average peak-to-trough decline	-21.86%	-0.25%	-21.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.94%	0.17%	+30.77%

Volatility

NCIQ vs. ILS - Volatility Comparison

Hashdex Nasdaq Crypto Index US ETF (NCIQ) has a higher volatility of 9.56% compared to Brookmont Catastrophic Bond ETF (ILS) at 0.88%. This indicates that NCIQ's price experiences larger fluctuations and is considered to be riskier than ILS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NCIQ	ILS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.56%	0.88%	+8.68%
Volatility (6M) Calculated over the trailing 6-month period	36.46%	1.69%	+34.77%
Volatility (1Y) Calculated over the trailing 1-year period	47.21%	2.77%	+44.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.80%	3.38%	+44.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.80%	3.38%	+44.42%

NCIQ vs. ILS - Expense Ratio Comparison

NCIQ has a 0.25% expense ratio, which is lower than ILS's 1.58% expense ratio.

Dividends

NCIQ vs. ILS - Dividend Comparison

NCIQ has not paid dividends to shareholders, while ILS's dividend yield for the trailing twelve months is around 8.09%.

Position	TTM	2025
ILS Brookmont Catastrophic Bond ETF	8.09%	6.06%
NCIQ Hashdex Nasdaq Crypto Index US ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both NCIQ and ILS in my portfolio?

NCIQ and ILS have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NCIQ or ILS?

NCIQ has higher volatility (9.56%) compared to ILS (0.88%). In terms of maximum drawdown, NCIQ dropped -52.90% vs ILS's -1.56%.

Which ETF is better, NCIQ or ILS?

On 1-year performance, ILS leads with 7.67% vs -40.00% for NCIQ. On fees, NCIQ is cheaper at 0.25% per year. On volatility, ILS has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NCIQ or ILS?

Over the 1-year period, ILS has performed better with a 7.67% return vs -40.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NCIQ or ILS?

NCIQ is cheaper with a 0.25% expense ratio, compared with 1.58% for ILS.

Which ETF pays a higher dividend yield, NCIQ or ILS?

ILS has the higher dividend yield at 8.09%, compared with 0.00% for NCIQ.

What is the main difference between NCIQ and ILS?

NCIQ is categorized as Cryptocurrency, while ILS is Nontraditional Bonds. They also come from different issuers: Hashdex and Brookmont. Their fees differ too: 0.25% for NCIQ and 1.58% for ILS.

Which has better risk-adjusted returns?

ILS currently has the higher Sharpe Ratio (2.79 vs -0.85), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.