SSK vs. ZCSH

Last updated Jul 10, 2026

SSK (REX-Osprey SOL + Staking ETF) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds - SSK tracks the Solana while ZCSH tracks the Zcash (ZEC). Both are passively managed. Over the past year, SSK returned -51.57% vs 934.72% for ZCSH. At a 0.49 correlation, their price movements are largely independent. SSK charges 0.75%/yr vs 2.50%/yr for ZCSH.

Performance

SSK vs. ZCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX-Osprey SOL + Staking ETF (SSK) and Grayscale Zcash Trust (ZEC) (ZCSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSK achieves a -35.36% return, which is significantly lower than ZCSH's 18.48% return.

SSK

• 1D: 0.96%
• 1M: 20.10%
• 6M: -41.78%
• YTD: -35.36%
• 1Y: -51.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZCSH

• 1D: 9.47%
• 1M: 37.45%
• 6M: 38.84%
• YTD: 18.48%
• 1Y: 934.72%
• 3Y*: 154.12%
• 5Y*: —
• 10Y*: —

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

SSK vs. ZCSH - Yearly Performance Comparison

	2026 (YTD)	2025
SSK REX-Osprey SOL + Staking ETF	-35.36%	-23.21%
ZCSH Grayscale Zcash Trust (ZEC)	18.48%	813.95%

Correlation

The correlation between SSK and ZCSH 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 Jul 2, 2025	0.49

Return for Risk

SSK vs. ZCSH — Risk / Return Rank

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

SSK

SSK Risk / Return Rank: 4
SSK Sharpe Ratio Rank: 4
SSK Sortino Ratio Rank: 4
SSK Omega Ratio Rank: 4
SSK Calmar Ratio Rank: 4
SSK Martin Ratio Rank: 4

ZCSH

ZCSH Risk / Return Rank: 95
ZCSH Sharpe Ratio Rank: 99
ZCSH Sortino Ratio Rank: 94
ZCSH Omega Ratio Rank: 90
ZCSH Calmar Ratio Rank: 98
ZCSH Martin Ratio Rank: 95

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.

SSK vs. ZCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX-Osprey SOL + Staking ETF (SSK) 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.

	SSK	ZCSH	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	5.41	-6.12
Sortino ratio: Return per unit of downside risk	-0.90	3.84	-4.74
Omega ratio: Gain probability vs. loss probability	0.90	1.46	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.70	13.57	-14.27
Martin ratio: Return relative to average drawdown	-1.05	24.92	-25.97

SSK vs. ZCSH - Sharpe Ratio Comparison

The current SSK Sharpe Ratio is -0.71, which is lower than the ZCSH Sharpe Ratio of 5.41. The chart below compares the historical Sharpe Ratios of SSK and ZCSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SSK vs. ZCSH - Drawdown Comparison

The maximum SSK drawdown since its inception was -73.56%, smaller than the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for SSK and ZCSH.

Drawdown Indicators

	SSK	ZCSH	Difference
Max Drawdown Largest peak-to-trough decline	-73.56%	-93.73%	+20.17%
Max Drawdown (1Y) Largest decline over 1 year	-73.56%	-69.62%	-3.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-71.90%	—
Current Drawdown Current decline from peak	-67.24%	-29.33%	-37.91%
Average Drawdown Average peak-to-trough decline	-41.45%	-73.73%	+32.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.98%	37.83%	+11.15%

Volatility

SSK vs. ZCSH - Volatility Comparison

The current volatility for REX-Osprey SOL + Staking ETF (SSK) is 22.60%, while Grayscale Zcash Trust (ZEC) (ZCSH) has a volatility of 37.87%. This indicates that SSK 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.

Volatility by Period

	SSK	ZCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.60%	37.87%	-15.27%
Volatility (6M) Calculated over the trailing 6-month period	53.23%	106.54%	-53.31%
Volatility (1Y) Calculated over the trailing 1-year period	72.42%	174.68%	-102.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.90%	138.11%	-66.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.90%	138.11%	-66.21%

SSK vs. ZCSH - Expense Ratio Comparison

SSK has a 0.75% expense ratio, which is lower than ZCSH's 2.50% expense ratio.

Dividends

SSK vs. ZCSH - Dividend Comparison

SSK's dividend yield for the trailing twelve months is around 31.51%, while ZCSH has not paid dividends to shareholders.

Position	TTM	2025
SSK REX-Osprey SOL + Staking ETF	31.51%	3.63%
ZCSH Grayscale Zcash Trust (ZEC)	0.00%	0.00%

Frequently Asked Questions

Can I hold both SSK and ZCSH in my portfolio?

SSK and ZCSH 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.

Which is riskier, SSK or ZCSH?

ZCSH has higher volatility (37.87%) compared to SSK (22.60%). In terms of maximum drawdown, SSK dropped -73.56% vs ZCSH's -93.73%.

Which ETF is better, SSK or ZCSH?

On 1-year performance, ZCSH leads with 934.72% vs -51.57% for SSK. On fees, SSK is cheaper at 0.75% per year. On volatility, SSK has been the lower-risk option at 22.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SSK or ZCSH?

Over the 1-year period, ZCSH has performed better with a 934.72% return vs -51.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SSK or ZCSH?

SSK is cheaper with a 0.75% expense ratio, compared with 2.50% for ZCSH.

Which ETF pays a higher dividend yield, SSK or ZCSH?

SSK has the higher dividend yield at 31.51%, compared with 0.00% for ZCSH.

What is the main difference between SSK and ZCSH?

SSK tracks Solana, while ZCSH tracks Zcash (ZEC). They also come from different issuers: REX-Osprey and Grayscale. Their fees differ too: 0.75% for SSK and 2.50% for ZCSH.

Which has better risk-adjusted returns?

ZCSH currently has the higher Sharpe Ratio (5.41 vs -0.71), 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.