VAVX vs. ZCSH

Last updated Jul 16, 2026

VAVX (VanEck Avalanche ETF) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds - VAVX tracks the MarketVector Avalanche Benchmark Rate while ZCSH tracks the Zcash (ZEC). Both are passively managed. A 0.56 correlation means they provide meaningful diversification when combined. VAVX charges 0.20%/yr vs 2.50%/yr for ZCSH.

Performance

VAVX vs. ZCSH - Performance Comparison

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

Returns By Period

VAVX

• 1D: 0.33%
• 1M: -2.50%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZCSH

• 1D: 3.81%
• 1M: 14.64%
• 6M: 31.66%
• YTD: 26.89%
• 1Y: 978.20%
• 3Y*: 150.76%
• 5Y*: —
• 10Y*: —

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

VAVX vs. ZCSH - Yearly Performance Comparison

	2026 (YTD)
VAVX VanEck Avalanche ETF	-42.95%
ZCSH Grayscale Zcash Trust (ZEC)	41.72%

Correlation

The correlation between VAVX and ZCSH is 0.56, 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 Jan 26, 2026	0.56

Return for Risk

VAVX vs. ZCSH — Risk / Return Rank

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

VAVX

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

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: 96

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.

VAVX vs. ZCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Avalanche ETF (VAVX) 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.

	VAVX	ZCSH	Difference
Sharpe ratio: Return per unit of total volatility	—	5.66	—
Sortino ratio: Return per unit of downside risk	—	3.88	—
Omega ratio: Gain probability vs. loss probability	—	1.47	—
Calmar ratio: Return relative to maximum drawdown	—	14.20	—
Martin ratio: Return relative to average drawdown	—	25.97	—

Drawdowns

VAVX vs. ZCSH - Drawdown Comparison

The maximum VAVX drawdown since its inception was -48.92%, smaller than the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for VAVX and ZCSH.

Drawdown Indicators

	VAVX	ZCSH	Difference
Max Drawdown Largest peak-to-trough decline	-48.92%	-93.73%	+44.81%
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	-43.75%	-24.32%	-19.43%
Average Drawdown Average peak-to-trough decline	-27.03%	-73.57%	+46.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	37.99%	—

Volatility

Volatility by Period

	VAVX	ZCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	38.98%	—
Volatility (6M) Calculated over the trailing 6-month period	—	107.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	64.93%	174.72%	-109.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.93%	138.02%	-73.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.93%	138.02%	-73.09%

VAVX vs. ZCSH - Expense Ratio Comparison

VAVX has a 0.20% expense ratio, which is lower than ZCSH's 2.50% expense ratio.

Dividends

VAVX vs. ZCSH - Dividend Comparison

VAVX's dividend yield for the trailing twelve months is around 1.22%, while ZCSH has not paid dividends to shareholders.

Position	TTM
VAVX VanEck Avalanche ETF	1.22%
ZCSH Grayscale Zcash Trust (ZEC)	0.00%

Frequently Asked Questions

Can I hold both VAVX and ZCSH in my portfolio?

VAVX and ZCSH have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VAVX or ZCSH?

On fees, VAVX is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAVX or ZCSH?

VAVX is cheaper with a 0.20% expense ratio, compared with 2.50% for ZCSH.

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

VAVX has the higher dividend yield at 1.22%, compared with 0.00% for ZCSH.

What is the main difference between VAVX and ZCSH?

VAVX tracks MarketVector Avalanche Benchmark Rate, while ZCSH tracks Zcash (ZEC). They also come from different issuers: VanEck and Grayscale. Their fees differ too: 0.20% for VAVX and 2.50% for ZCSH.