SATO vs. ZCSH
SATO (Invesco Alerian Galaxy Crypto Economy ETF) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds - SATO tracks the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index while ZCSH tracks the Zcash (ZEC). Both are passively managed. Over the past 3 years, SATO returned 21.83%/yr vs 138.94%/yr for ZCSH. Their 0.43 correlation means their historical movements had little consistent relationship. SATO charges 0.60%/yr vs 2.50%/yr for ZCSH.
Performance
SATO vs. ZCSH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SATO achieves a -13.37% return, which is significantly lower than ZCSH's -1.40% return.
SATO
- 1D
- -3.22%
- 1M
- -4.42%
- 6M
- -16.14%
- YTD
- -13.37%
- 1Y
- -18.39%
- 3Y*
- 21.83%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.90%
ZCSH
- 1D
- -5.94%
- 1M
- 5.62%
- 6M
- 46.86%
- YTD
- -1.40%
- 1Y
- 888.33%
- 3Y*
- 138.94%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $33.71K | $38.05K | $74.17K | |
| $1.45M | $1.75M | $3.75M |
SATO vs. ZCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SATO Invesco Alerian Galaxy Crypto Economy ETF | -13.37% | 2.26% | 55.25% | 266.77% | -80.20% | -21.25% |
ZCSH Grayscale Zcash Trust (ZEC) | -1.40% | 446.78% | 96.92% | 65.91% | -86.30% | -48.60% |
Correlation
The correlation between SATO and ZCSH is 0.50, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2021 | 0.43 |
The correlation between SATO and ZCSH has been stable across timeframes, ranging from 0.43 to 0.50 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SATO vs. ZCSH — Risk / Return Rank
SATO
ZCSH
SATO vs. ZCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Grayscale Zcash Trust (ZEC) (ZCSH). 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.
| SATO | ZCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.27 | ||
| Sortino ratioReturn per unit of downside risk | -4.04 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.45 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 12.18 | -12.60 |
| Martin ratioReturn relative to average drawdown | -0.67 | 22.08 | -22.75 |
Loading charts...
Drawdowns
SATO vs. ZCSH - Drawdown Comparison
The maximum SATO drawdown since its inception was -88.00%, smaller than the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for SATO and ZCSH.
Loading charts...
Drawdown Indicators
| SATO | ZCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.00% | -93.73% | +5.73% |
Max Drawdown (1Y)Largest decline over 1 year | -53.49% | -69.62% | +16.13% |
Max Drawdown (3Y)Largest decline over 3 years | -53.49% | -71.90% | +18.41% |
Current DrawdownCurrent decline from peak | -46.92% | -41.19% | -5.73% |
Average DrawdownAverage peak-to-trough decline | -50.68% | -73.19% | +22.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.62% | 38.32% | -4.70% |
Volatility
SATO vs. ZCSH - Volatility Comparison
The current volatility for Invesco Alerian Galaxy Crypto Economy ETF (SATO) is 16.55%, while Grayscale Zcash Trust (ZEC) (ZCSH) has a volatility of 30.81%. This indicates that SATO experiences smaller price fluctuations and is considered to be less risky than ZCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SATO | ZCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.55% | 30.81% | -14.26% |
Volatility (6M)Calculated over the trailing 6-month period | 39.43% | 105.84% | -66.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.26% | 175.09% | -121.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.98% | 137.54% | -74.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.98% | 137.54% | -74.56% |
SATO vs. ZCSH - Expense Ratio Comparison
SATO has a 0.60% expense ratio, which is lower than ZCSH's 2.50% expense ratio.
Dividends
SATO vs. ZCSH - Dividend Comparison
SATO's dividend yield for the trailing twelve months is around 7.74%, while ZCSH has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SATO Invesco Alerian Galaxy Crypto Economy ETF | 7.74% | 9.50% | 15.03% | 2.21% | 8.97% | 0.73% |
ZCSH Grayscale Zcash Trust (ZEC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SATO and ZCSH have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZCSH has higher volatility (30.81%) compared to SATO (16.55%). In terms of maximum drawdown, SATO dropped -88.00% vs ZCSH's -93.73%.
On 3-year performance, ZCSH leads with 138.94% vs 21.83% for SATO. On fees, SATO is cheaper at 0.60% per year. On volatility, SATO has been the lower-risk option at 16.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ZCSH has performed better with a 138.94% return vs 21.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SATO is cheaper with a 0.60% expense ratio, compared with 2.50% for ZCSH.
SATO has the higher dividend yield at 7.74%, compared with 0.00% for ZCSH.
SATO tracks Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index, while ZCSH tracks Zcash (ZEC). They also come from different issuers: Invesco and Grayscale. Their fees differ too: 0.60% for SATO and 2.50% for ZCSH.
ZCSH currently has the higher Sharpe Ratio (4.85 vs -0.42), 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.
Find the right allocation for SATO and ZCSH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer