XRPI vs. XRP-USD
XRPI (Volatility Shares XRP ETF) is Cryptocurrency fund actively managed by Volatility Shares, while XRP-USD (XRP) is a cryptocurrency. Over the past year, XRPI returned -66.74% vs -62.57% for XRP-USD. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
XRPI vs. XRP-USD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XRPI having a -41.35% return and XRP-USD slightly higher at -39.78%.
XRPI
- 1D
- 4.61%
- 1M
- -2.22%
- 6M
- -49.80%
- YTD
- -41.35%
- 1Y
- -66.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XRP-USD
- 1D
- 3.87%
- 1M
- -6.57%
- 6M
- -48.82%
- YTD
- -39.78%
- 1Y
- -62.57%
- 3Y*
- 15.70%
- 5Y*
- 13.16%
- 10Y*
- —
XRPI vs. XRP-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XRPI Volatility Shares XRP ETF | -41.35% | -32.74% |
XRP-USD XRP | -39.78% | -23.24% |
Correlation
The correlation between XRPI and XRP-USD is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 22, 2025 | 0.71 |
The correlation between XRPI and XRP-USD has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.
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Return for Risk
XRPI vs. XRP-USD — Risk / Return Rank
XRPI
XRP-USD
XRPI vs. XRP-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares XRP ETF (XRPI) and XRP (XRP-USD). 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.
| XRPI | XRP-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.84 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.88 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.29 | -1.29 | +0.01 |
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Drawdowns
XRPI vs. XRP-USD - Drawdown Comparison
The maximum XRPI drawdown since its inception was -74.60%, smaller than the maximum XRP-USD drawdown of -95.87%. Use the drawdown chart below to compare losses from any high point for XRPI and XRP-USD.
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Drawdown Indicators
| XRPI | XRP-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.60% | -95.87% | +21.27% |
Max Drawdown (1Y)Largest decline over 1 year | -74.60% | -70.77% | -3.83% |
Max Drawdown (3Y)Largest decline over 3 years | — | -70.77% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.83% | — |
Current DrawdownCurrent decline from peak | -72.63% | -68.82% | -3.81% |
Average DrawdownAverage peak-to-trough decline | -42.76% | -70.97% | +28.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.83% | 40.34% | +11.49% |
Volatility
XRPI vs. XRP-USD - Volatility Comparison
Volatility Shares XRP ETF (XRPI) has a higher volatility of 18.66% compared to XRP (XRP-USD) at 12.06%. This indicates that XRPI's price experiences larger fluctuations and is considered to be riskier than XRP-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XRPI | XRP-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.66% | 12.06% | +6.60% |
Volatility (6M)Calculated over the trailing 6-month period | 50.49% | 43.79% | +6.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.90% | 55.43% | +18.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.61% | 71.27% | +3.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.61% | 111.32% | -36.71% |
Frequently Asked Questions
XRPI and XRP-USD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XRPI has higher volatility (18.66%) compared to XRP-USD (12.06%). In terms of maximum drawdown, XRPI dropped -74.60% vs XRP-USD's -95.87%.
XRPI currently has the higher Sharpe Ratio (-0.91 vs -0.94), 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.
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