ZCSH vs. GSUI
ZCSH (Grayscale Zcash Trust (ZEC)) and GSUI (Grayscale Sui Staking ETF) are both Cryptocurrency funds from Grayscale - ZCSH tracks the Zcash (ZEC) while GSUI tracks the CoinDesk SUI Reference Rate. Both are passively managed. Their 0.46 correlation means their historical movements had little consistent relationship. ZCSH charges 2.50%/yr vs 0.00%/yr for GSUI.
Performance
ZCSH vs. GSUI - Performance Comparison
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Returns By Period
In the year-to-date period, ZCSH achieves a 19.91% return, which is significantly higher than GSUI's -48.70% return.
ZCSH
- 1D
- 4.72%
- 1M
- 19.46%
- 6M
- 139.67%
- YTD
- 19.91%
- 1Y
- 1,112.22%
- 3Y*
- 161.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.94%
GSUI
- 1D
- -0.77%
- 1M
- -7.20%
- 6M
- -36.67%
- YTD
- -48.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $288.77K | $309.70K | $726.75K | |
| $1.29M | $1.72M | $3.48M |
ZCSH vs. GSUI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZCSH Grayscale Zcash Trust (ZEC) | 19.91% | -4.73% |
GSUI Grayscale Sui Staking ETF | -48.70% | -42.99% |
Correlation
The correlation between ZCSH and GSUI is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 24, 2025 | 0.46 |
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Return for Risk
ZCSH vs. GSUI — Risk / Return Rank
ZCSH
GSUI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZCSH vs. GSUI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Zcash Trust (ZEC) (ZCSH) and Grayscale Sui Staking ETF (GSUI). 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.
| ZCSH | GSUI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.48 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 16.15 | — | — |
| Martin ratioReturn relative to average drawdown | 29.16 | — | — |
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Drawdowns
ZCSH vs. GSUI - Drawdown Comparison
The maximum ZCSH drawdown since its inception was -93.73%, which is greater than GSUI's maximum drawdown of -71.63%. Use the drawdown chart below to compare losses from any high point for ZCSH and GSUI.
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Drawdown Indicators
| ZCSH | GSUI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.73% | -71.63% | -22.10% |
Max Drawdown (1Y)Largest decline over 1 year | -69.62% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -71.90% | — | — |
Current DrawdownCurrent decline from peak | -28.48% | -70.76% | +42.28% |
Average DrawdownAverage peak-to-trough decline | -73.09% | -55.30% | -17.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.48% | — | — |
Volatility
ZCSH vs. GSUI - Volatility Comparison
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Volatility by Period
| ZCSH | GSUI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.84% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 105.40% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 174.95% | 98.55% | +76.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 137.47% | 98.55% | +38.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 137.47% | 98.55% | +38.92% |
ZCSH vs. GSUI - Expense Ratio Comparison
ZCSH has a 2.50% expense ratio, which is higher than GSUI's 0.00% expense ratio.
Dividends
ZCSH vs. GSUI - Dividend Comparison
Neither ZCSH nor GSUI has paid dividends to shareholders.
Frequently Asked Questions
ZCSH and GSUI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GSUI is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GSUI is cheaper with a 0.00% expense ratio, compared with 2.50% for ZCSH.
ZCSH and GSUI have nearly identical dividend yields, around 0.00%.
ZCSH tracks Zcash (ZEC), while GSUI tracks CoinDesk SUI Reference Rate. Their fees differ too: 2.50% for ZCSH and 0.00% for GSUI.
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