TSUI vs. ZCSH

Last updated Jun 25, 2026

TSUI (21Shares Sui ETF) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds - TSUI tracks the Sui (SUI) while ZCSH tracks the Zcash (ZEC). Both are passively managed. A 0.52 correlation means they provide meaningful diversification when combined. TSUI charges 0.30%/yr vs 2.50%/yr for ZCSH.

Performance

TSUI vs. ZCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Sui ETF (TSUI) and Grayscale Zcash Trust (ZEC) (ZCSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TSUI

• 1D: -3.59%
• 1M: -36.45%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZCSH

• 1D: -5.84%
• 1M: -45.29%
• YTD: -17.94%
• 6M: -16.23%
• 1Y: 681.82%
• 3Y*: 132.99%
• 5Y*: —
• 10Y*: —

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

TSUI vs. ZCSH - Yearly Performance Comparison

	2026 (YTD)
TSUI 21Shares Sui ETF	-22.24%
ZCSH Grayscale Zcash Trust (ZEC)	77.47%

Correlation

The correlation between TSUI and ZCSH is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026	0.52

Return for Risk

TSUI vs. ZCSH — Risk / Return Rank

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

TSUI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ZCSH

ZCSH Risk / Return Rank: 91
ZCSH Sharpe Ratio Rank: 97
ZCSH Sortino Ratio Rank: 89
ZCSH Omega Ratio Rank: 82
ZCSH Calmar Ratio Rank: 97
ZCSH Martin Ratio Rank: 91

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.

TSUI vs. ZCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Sui ETF (TSUI) 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.

	TSUI	ZCSH	Difference
Sharpe ratio: Return per unit of total volatility	—	3.95	—
Sortino ratio: Return per unit of downside risk	—	3.55	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	9.89	—
Martin ratio: Return relative to average drawdown	—	18.63	—

Drawdowns

TSUI vs. ZCSH - Drawdown Comparison

The maximum TSUI drawdown since its inception was -48.69%, smaller than the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for TSUI and ZCSH.

Drawdown Indicators

	TSUI	ZCSH	Difference
Max Drawdown Largest peak-to-trough decline	-48.69%	-93.73%	+45.04%
Max Drawdown (1Y) Largest decline over 1 year	—	-69.62%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-71.90%	—
Current Drawdown Current decline from peak	-48.69%	-51.05%	+2.36%
Average Drawdown Average peak-to-trough decline	-17.17%	-73.99%	+56.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	36.86%	—

Volatility

Volatility by Period

	TSUI	ZCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	64.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	107.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	86.41%	174.35%	-87.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.41%	138.31%	-51.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	86.41%	138.31%	-51.90%

TSUI vs. ZCSH - Expense Ratio Comparison

TSUI has a 0.30% expense ratio, which is lower than ZCSH's 2.50% expense ratio.

Dividends

TSUI vs. ZCSH - Dividend Comparison

TSUI's dividend yield for the trailing twelve months is around 0.36%, while ZCSH has not paid dividends to shareholders.

Position	TTM
TSUI 21Shares Sui ETF	0.36%
ZCSH Grayscale Zcash Trust (ZEC)	0.00%

Frequently Asked Questions

Can I hold both TSUI and ZCSH in my portfolio?

TSUI and ZCSH have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSUI or ZCSH?

On fees, TSUI is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSUI or ZCSH?

TSUI is cheaper with a 0.30% expense ratio, compared with 2.50% for ZCSH.

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

TSUI has the higher dividend yield at 0.36%, compared with 0.00% for ZCSH.

What is the main difference between TSUI and ZCSH?

TSUI tracks Sui (SUI), while ZCSH tracks Zcash (ZEC). They also come from different issuers: 21Shares and Grayscale. Their fees differ too: 0.30% for TSUI and 2.50% for ZCSH.