BLOX vs SPY
Nicholas Crypto Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BLOX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.99% | 0.09% | |
| AUM | $282M | $789.1B | |
| Dividend Yield | 44.28% | 1.01% | |
| Holdings | 77 | 505 | |
| YTD Return | -14.43% | +13.39% | |
| 1Y Return | -18.11% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 47.0% | 15.3% | |
| Max Drawdown | -47.1% | -56.5% | |
| Fund Family | XFunds | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jun 17, 2025 | Jan 22, 1993 |
BLOX vs SPY Performance
Nicholas Crypto Income ETF (BLOX) is a ETF from XFunds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BLOX returned -18.11% while SPY returned +22.52%. Year to date, BLOX is down 14.43% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
BLOX has been the more volatile fund, with annualized monthly volatility of 47.0% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -47.1% for BLOX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BLOX charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, BLOX currently yields 44.28% against 1.01% for SPY.
Holdings Overlap
BLOX and SPY share 3 holdings out of 518 unique holdings combined, representing a 6.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BLOX or SPY?
BLOX has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, BLOX or SPY?
Over the past year BLOX returned -18.11% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), BLOX annualized -0.18% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, BLOX or SPY?
BLOX has been the more volatile fund at 47.0% annualized versus 15.3% for SPY. Worst drawdown: BLOX -47.1% vs SPY -56.5%.
Should I hold both BLOX and SPY?
BLOX and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BLOX and SPY?
BLOX and SPY share 3 common holdings with a 6.3% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, BLOX or SPY?
BLOX yields 44.28% while SPY yields 1.01%, so BLOX currently pays the higher dividend yield.
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