ZCSH vs. XRPC
ZCSH (Grayscale Zcash Trust (ZEC)) and XRPC (Canary XRP ETF) are both Cryptocurrency funds. ZCSH is passively managed, while XRPC is actively managed. At a 0.48 correlation, their price movements are largely independent. ZCSH charges 2.50%/yr vs 0.50%/yr for XRPC.
Performance
ZCSH vs. XRPC - Performance Comparison
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Returns By Period
In the year-to-date period, ZCSH achieves a 41.32% return, which is significantly higher than XRPC's -34.29% return.
ZCSH
- 1D
- -5.29%
- 1M
- 47.90%
- YTD
- 41.32%
- 6M
- 72.54%
- 1Y
- 1,002.48%
- 3Y*
- 185.96%
- 5Y*
- —
- 10Y*
- —
XRPC
- 1D
- -1.39%
- 1M
- -14.06%
- YTD
- -34.29%
- 6M
- -45.45%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZCSH vs. XRPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZCSH Grayscale Zcash Trust (ZEC) | 41.32% | -4.73% |
XRPC Canary XRP ETF | -34.29% | -20.79% |
Correlation
The correlation between ZCSH and XRPC is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | 0.48 |
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Return for Risk
ZCSH vs. XRPC — Risk / Return Rank
ZCSH
XRPC
ZCSH vs. XRPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Zcash Trust (ZEC) (ZCSH) and Canary XRP ETF (XRPC). 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.
| ZCSH | XRPC | 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 | 14.55 | — | — |
| Martin ratioReturn relative to average drawdown | 28.49 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZCSH | XRPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.10 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | -0.92 | +1.02 |
Drawdowns
ZCSH vs. XRPC - Drawdown Comparison
The maximum ZCSH drawdown since its inception was -93.73%, which is greater than XRPC's maximum drawdown of -48.85%. Use the drawdown chart below to compare losses from any high point for ZCSH and XRPC.
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Drawdown Indicators
| ZCSH | XRPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.73% | -48.85% | -44.88% |
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 | -15.71% | -48.24% | +32.53% |
Average DrawdownAverage peak-to-trough decline | -74.41% | -29.50% | -44.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.49% | — | — |
Volatility
ZCSH vs. XRPC - Volatility Comparison
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Volatility by Period
| ZCSH | XRPC | 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 | 166.02% | 75.88% | +90.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 136.87% | 75.88% | +60.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 136.87% | 75.88% | +60.99% |
ZCSH vs. XRPC - Expense Ratio Comparison
ZCSH has a 2.50% expense ratio, which is higher than XRPC's 0.50% expense ratio.
Dividends
ZCSH vs. XRPC - Dividend Comparison
Neither ZCSH nor XRPC has paid dividends to shareholders.
Frequently Asked Questions
ZCSH and XRPC have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XRPC is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XRPC is cheaper with a 0.50% expense ratio, compared with 2.50% for ZCSH.
ZCSH and XRPC have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Grayscale and Canary Capital. Their fees differ too: 2.50% for ZCSH and 0.50% for XRPC.
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