NCIQ vs. LRGF
NCIQ (Hashdex Nasdaq Crypto Index US ETF) and LRGF (iShares MSCI USA Multifactor ETF) are both exchange-traded funds - NCIQ is a Cryptocurrency fund tracking the Nasdaq Crypto US Settlement Price™ Index, while LRGF is a Large Cap Blend Equities fund tracking the MSCI USA Diversified Multi-Factor. Both are passively managed. Over the past year, NCIQ returned -40.00% vs 24.87% for LRGF. At a 0.49 correlation, their price movements are largely independent. NCIQ charges 0.25%/yr vs 0.20%/yr for LRGF.
Performance
NCIQ vs. LRGF - Performance Comparison
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Returns By Period
In the year-to-date period, NCIQ achieves a -28.25% return, which is significantly lower than LRGF's 10.50% return.
NCIQ
- 1D
- -2.92%
- 1M
- -18.28%
- YTD
- -28.25%
- 6M
- -33.10%
- 1Y
- -40.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LRGF
- 1D
- -0.71%
- 1M
- 6.20%
- YTD
- 10.50%
- 6M
- 10.60%
- 1Y
- 24.87%
- 3Y*
- 22.80%
- 5Y*
- 13.83%
- 10Y*
- 14.03%
NCIQ vs. LRGF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NCIQ Hashdex Nasdaq Crypto Index US ETF | -28.25% | -10.21% |
LRGF iShares MSCI USA Multifactor ETF | 10.50% | 10.20% |
Correlation
The correlation between NCIQ and LRGF is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2025 | 0.49 |
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Return for Risk
NCIQ vs. LRGF — Risk / Return Rank
NCIQ
LRGF
NCIQ vs. LRGF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Nasdaq Crypto Index US ETF (NCIQ) and iShares MSCI USA Multifactor ETF (LRGF). 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 | LRGF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.93 | ||
| Sortino ratioReturn per unit of downside risk | -4.01 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.37 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 2.80 | -3.56 |
| Martin ratioReturn relative to average drawdown | -1.29 | 11.62 | -12.92 |
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 | LRGF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | 2.08 | -2.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.82 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.61 | 0.70 | -1.30 |
Drawdowns
NCIQ vs. LRGF - Drawdown Comparison
The maximum NCIQ drawdown since its inception was -52.90%, which is greater than LRGF's maximum drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for NCIQ and LRGF.
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Drawdown Indicators
| NCIQ | LRGF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.90% | -36.03% | -16.87% |
Max Drawdown (1Y)Largest decline over 1 year | -52.90% | -8.92% | -43.98% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.44% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.62% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.03% | — |
Current DrawdownCurrent decline from peak | -52.01% | -0.71% | -51.30% |
Average DrawdownAverage peak-to-trough decline | -21.86% | -4.54% | -17.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.94% | 2.14% | +28.80% |
Volatility
NCIQ vs. LRGF - Volatility Comparison
Hashdex Nasdaq Crypto Index US ETF (NCIQ) has a higher volatility of 9.56% compared to iShares MSCI USA Multifactor ETF (LRGF) at 2.92%. This indicates that NCIQ's price experiences larger fluctuations and is considered to be riskier than LRGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCIQ | LRGF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.56% | 2.92% | +6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 36.46% | 9.09% | +27.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.21% | 12.06% | +35.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.80% | 17.03% | +30.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.80% | 18.31% | +29.49% |
NCIQ vs. LRGF - Expense Ratio Comparison
NCIQ has a 0.25% expense ratio, which is higher than LRGF's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NCIQ vs. LRGF - Dividend Comparison
NCIQ has not paid dividends to shareholders, while LRGF's dividend yield for the trailing twelve months is around 1.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LRGF iShares MSCI USA Multifactor ETF | 1.06% | 1.16% | 1.23% | 1.49% | 1.78% | 1.05% | 1.35% | 1.76% | 3.27% | 1.68% | 1.56% | 0.83% |
NCIQ Hashdex Nasdaq Crypto Index US ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NCIQ and LRGF 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.
NCIQ has higher volatility (9.56%) compared to LRGF (2.92%). In terms of maximum drawdown, NCIQ dropped -52.90% vs LRGF's -36.03%.
On 1-year performance, LRGF leads with 24.87% vs -40.00% for NCIQ. On fees, LRGF is cheaper at 0.20% per year. On volatility, LRGF has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LRGF has performed better with a 24.87% return vs -40.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LRGF is cheaper with a 0.20% expense ratio, compared with 0.25% for NCIQ.
LRGF has the higher dividend yield at 1.06%, compared with 0.00% for NCIQ.
NCIQ is categorized as Cryptocurrency, while LRGF is Large Cap Blend Equities. NCIQ tracks Nasdaq Crypto US Settlement Price™ Index, while LRGF tracks MSCI USA Diversified Multi-Factor. They also come from different issuers: Hashdex and iShares. Their fees differ too: 0.25% for NCIQ and 0.20% for LRGF.
LRGF currently has the higher Sharpe Ratio (2.08 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.
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