TXXH vs. THYP

Last updated Jul 10, 2026

TXXH (21Shares 2x Long HYPE ETF) and THYP (21Shares Hyperliquid ETF) are both exchange-traded funds - TXXH is a Leveraged Cryptocurrency fund actively managed by 21Shares, while THYP is a Cryptocurrency fund actively managed by 21Shares. Both are actively managed. With a 1.00 correlation, they move nearly in lockstep.

Performance

TXXH vs. THYP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares 2x Long HYPE ETF (TXXH) and 21Shares Hyperliquid ETF (THYP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TXXH

• 1D: -1.41%
• 1M: 17.49%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYP

• 1D: -0.50%
• 1M: 14.12%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TXXH vs. THYP - Yearly Performance Comparison

	2026 (YTD)
TXXH 21Shares 2x Long HYPE ETF	89.31%
THYP 21Shares Hyperliquid ETF	55.02%

Correlation

The correlation between TXXH and THYP is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 12, 2026	1.00

Return for Risk

TXXH vs. THYP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares 2x Long HYPE ETF (TXXH) and 21Shares Hyperliquid ETF (THYP). 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.

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

Drawdowns

TXXH vs. THYP - Drawdown Comparison

The maximum TXXH drawdown since its inception was -50.46%, which is greater than THYP's maximum drawdown of -27.01%. Use the drawdown chart below to compare losses from any high point for TXXH and THYP.

Drawdown Indicators

	TXXH	THYP	Difference
Max Drawdown Largest peak-to-trough decline	-50.46%	-27.01%	-23.45%
Current Drawdown Current decline from peak	-31.07%	-9.30%	-21.77%
Average Drawdown Average peak-to-trough decline	-17.45%	-7.90%	-9.55%

Volatility

Volatility by Period

	TXXH	THYP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	188.38%	104.73%	+83.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	188.38%	104.73%	+83.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	188.38%	104.73%	+83.65%

Dividends

TXXH vs. THYP - Dividend Comparison

TXXH has not paid dividends to shareholders, while THYP's dividend yield for the trailing twelve months is around 0.10%.

Position	TTM
THYP 21Shares Hyperliquid ETF	0.10%
TXXH 21Shares 2x Long HYPE ETF	0.00%

Frequently Asked Questions

Can I hold both TXXH and THYP in my portfolio?

With a correlation of 1.00, TXXH and THYP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF pays a higher dividend yield, TXXH or THYP?

THYP has the higher dividend yield at 0.10%, compared with 0.00% for TXXH.

What is the main difference between TXXH and THYP?

TXXH is categorized as Leveraged Cryptocurrency, while THYP is Cryptocurrency.