XRP vs. ZCSH

Last updated Jun 4, 2026

XRP (Bitwise XRP ETF) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds. XRP is actively managed, while ZCSH is passively managed. A 0.52 correlation means they provide meaningful diversification when combined. XRP charges 0.34%/yr vs 2.50%/yr for ZCSH.

Performance

XRP vs. ZCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise XRP ETF (XRP) 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, XRP achieves a -34.50% return, which is significantly lower than ZCSH's 41.32% return.

XRP

• 1D: -1.54%
• 1M: -14.12%
• YTD: -34.50%
• 6M: -45.52%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZCSH

• 1D: -5.29%
• 1M: 47.90%
• YTD: 41.32%
• 6M: 72.54%
• 1Y: 1,002.48%
• 3Y*: 185.96%
• 5Y*: —
• 10Y*: —

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

XRP vs. ZCSH - Yearly Performance Comparison

	2026 (YTD)	2025
XRP Bitwise XRP ETF	-34.50%	-8.64%
ZCSH Grayscale Zcash Trust (ZEC)	41.32%	-29.38%

Correlation

The correlation between XRP 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 Nov 21, 2025	0.52

Return for Risk

XRP vs. ZCSH — Risk / Return Rank

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

ZCSH

ZCSH Risk / Return Rank: 92
ZCSH Sharpe Ratio Rank: 98
ZCSH Sortino Ratio Rank: 89
ZCSH Omega Ratio Rank: 81
ZCSH Calmar Ratio Rank: 98
ZCSH Martin Ratio Rank: 94

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.

XRP vs. ZCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise XRP ETF (XRP) 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.

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

Sharpe Ratios by Period

	XRP	ZCSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	6.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.83	0.10	-0.93

Drawdowns

XRP vs. ZCSH - Drawdown Comparison

The maximum XRP drawdown since its inception was -48.71%, smaller than the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for XRP and ZCSH.

Drawdown Indicators

	XRP	ZCSH	Difference
Max Drawdown Largest peak-to-trough decline	-48.71%	-93.73%	+45.02%
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	-48.21%	-15.71%	-32.50%
Average Drawdown Average peak-to-trough decline	-29.70%	-74.41%	+44.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	35.49%	—

Volatility

Volatility by Period

	XRP	ZCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	48.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	94.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	75.13%	166.02%	-90.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.13%	136.87%	-61.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.13%	136.87%	-61.74%

XRP vs. ZCSH - Expense Ratio Comparison

XRP has a 0.34% expense ratio, which is lower than ZCSH's 2.50% expense ratio.

Dividends

XRP vs. ZCSH - Dividend Comparison

Neither XRP nor ZCSH has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XRP and ZCSH in my portfolio?

XRP 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, XRP or ZCSH?

On fees, XRP is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XRP or ZCSH?

XRP is cheaper with a 0.34% expense ratio, compared with 2.50% for ZCSH.

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

XRP and ZCSH have nearly identical dividend yields, around 0.00%.

What is the main difference between XRP and ZCSH?

They also come from different issuers: Bitwise and Grayscale. Their fees differ too: 0.34% for XRP and 2.50% for ZCSH.