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ETF Comparison

BLOX vs CHPY: Which Is the Better Pick in 2026?

A head-to-head comparison of Nicholas Crypto Income ETF and YieldMax Semiconductor Portfolio Option Income ETF covering yield, cost, risk, and income potential.

Updated October 9, 2026

How these figures are calculated: methodology.

Best for

  • BLOXInvestors who want crypto exposure that pays you along the way, not just price gains.
  • CHPYInvestors who want to maximize current income — roughly 44.77%, generated by selling options premium.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

BLOX has lagged CHPY over the trailing twelve months, posting a -33.24% total return against 79.25%. Measured from Jun 2025 — the start of shared available history — CHPY has compounded at 82.12% a year versus 3.85% for BLOX. CHPY has been the steadier holding, though — annualized volatility of 40.2% against 57.7% for BLOX. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulativeSince Jun 2025Volatility Sharpe Sortino Max drawdown
BLOX-9.92%-33.24%3.85%57.7%-0.78-1.06-47.1%
CHPY63.75%79.25%82.12%40.2%1.341.92-27.6%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 9, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jun 2025” measures every fund from June 17, 2025 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Distribution rate, SEC yield and return of capital

MetricBLOXCHPY
Forward distribution rate39.15%44.77%
Trailing 12-month yield47.92%40.72%
30-day SEC yield—-0.38%
Return of capital—100.00%

Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Total return against the stated underlying is on BLOX vs BTC-USD.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricBLOXCHPY
Full nameNicholas Crypto Income ETFYieldMax Semiconductor Portfolio Option Income ETF
IssuerNicholas Wealth ManagementYieldMax
Underlying indexBasket (Equity portfolio focused on crypto-related companies)Basket (Semiconductor companies)
Last Close$12.75 as of October 9, 2026$67.92 as of October 9, 2026
Distribution rate39.15%44.77%
Trailing 12-month yield47.92%40.72%
30-day SEC yield—-0.38%
Distribution Safety Score™ 4479
Safety-Adjusted Yield 17.23%35.37%
Expense ratio0.99%1.03%
AUM$304M$1.35B
Distribution frequencyWeeklyWeekly
ObjectiveSeeks to provide current income and capital appreciation through exposure to crypto-related companies with an options strategy generating weekly income distributions.Seeks weekly income by holding a portfolio of U.S.-listed semiconductor equities and generating premium through an options overlay written on those holdings and on semiconductor ETFs.
Asset classEquityEquity
Inception date06/17/202504/02/2025
Beta3.11211.8613
Last dividend$0.096$0.5847
Ex-dividend date10/02/202610/07/2026

Bottom lineChoose BLOX if you want crypto exposure that pays you along the way, not just price gains. Choose CHPY if you want to maximize current income — roughly 44.77%, generated by selling options premium. BLOX and CHPY both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Capped upside and premium dependence. BLOX and CHPY generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
  • Crypto volatility. BLOX sits on top of crypto-asset prices, which routinely swing far more than equities. A single drawdown can exceed a year of distributions, so income projections deserve extra skepticism here.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

Model this comparison:
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Nicholas Wealth Management
ETFs15
Total AUM$736M

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Nicholas Wealth Management is known for offering specialized ETFs across digital assets, income generation, and thematic investing strategies. Their fund lineup spans emerging asset classes including cryptocurrency and blockchain exposure, traditional income-focused strategies, and sector-specific themes ranging from nuclear energy to nightlife, appealing to investors seeking both alternative investments and targeted sector exposure. The issuer maintains a focused but diversified portfolio of tickers that caters to both conventional income seekers and those pursuing niche, forward-looking investment themes.

See our curated list of related YouTube videos on BLOX.

See all Nicholas Wealth Management ETFs
YieldMax
ETFs62
Total AUM$10.2B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.

See our curated list of related YouTube videos on CHPY.

See all YieldMax ETFs

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Quick verdict

BLOX (Nicholas Crypto Income ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both weekly-pay dividend ETFs, but they take different approaches.

CHPY offers the higher yield at 44.77% vs 39.15% for BLOX. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

BLOX is cheaper with an expense ratio of 0.99% compared to 1.03%.

They have different reference exposures: BLOX is linked to Basket (Equity portfolio focused on crypto-related companies) while CHPY is linked to Basket (Semiconductor companies), which means their performance drivers differ.

CHPY is the larger fund by assets ($1.35B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose BLOX

Nicholas Crypto Income ETF

  • Want crypto exposure that pays income rather than waiting on price alone.
  • Want to keep costs low — a 0.99% expense ratio vs 1.03% for CHPY.

Choose CHPY

YieldMax Semiconductor Portfolio Option Income ETF

  • Want to maximize current income — CHPY distributes roughly 44.77% from selling options premium, vs 39.15% for BLOX.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
  • Prefer lower volatility — a beta of 1.9 vs 3.1 for BLOX.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, BLOX would generate roughly $75.29 cash per distribution, while CHPY would produce $86.10 cash per distribution, at current distribution rates. Both pay weekly distributions.

BLOX yield39.15%
CHPY yield44.77%
Cash diff on $10K$10.81

Cost & efficiency

Over 10 years on $10,000, BLOX would cost approximately $990 in fees vs $1,030 for CHPY (simplified, not compounded). The $40.00 difference may be offset by yield or performance.

BLOX ER0.99%
CHPY ER1.03%

Strategy & risk

BLOX tracks Basket (Equity portfolio focused on crypto-related companies) with an options approach, while CHPY tracks Basket (Semiconductor companies) with a covered call approach. Beta is 3.1121 for BLOX and 1.8613 for CHPY, making CHPY the less volatile of the two by this measure.

BLOX beta3.1121
CHPY beta1.8613

Fund details

BLOX is managed by Nicholas Wealth Management (launched 06/17/2025) with $304M in assets. CHPY is managed by YieldMax (launched 04/02/2025) with $1.35B in assets.

BLOX AUM$304M
CHPY AUM$1.35B
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Frequently asked questions

What is the current distribution rate for BLOX and CHPY?

BLOX currently distributes 39.15% and CHPY 44.77%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is BLOX or CHPY better for dividend income?

It depends on your goals. CHPY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between BLOX and CHPY?

BLOX (Nicholas Crypto Income ETF) tracks Basket (Equity portfolio focused on crypto-related companies) with an options approach, while CHPY (YieldMax Semiconductor Portfolio Option Income ETF) tracks Basket (Semiconductor companies) with a covered call approach. They are issued by Nicholas Wealth Management and YieldMax respectively.

Can I hold both BLOX and CHPY?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is BLOX or CHPY safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — CHPY scores 79, BLOX scores 44, so CHPY's payout currently looks the more resilient of the two. CHPY has also shown lower price volatility (beta 1.86 vs 3.11 for BLOX). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, BLOX or CHPY?

BLOX has an expense ratio of 0.99% while CHPY charges 1.03%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in BLOX vs CHPY generate?

At current rates, $10,000 in BLOX would generate roughly $75.29 cash per distribution ($3,915.00 annually). The same in CHPY would produce about $86.10 cash per distribution ($4,477.00 annually).

Which has performed better historically, BLOX or CHPY?

BLOX has lagged CHPY over the trailing twelve months, posting a -33.24% total return against 79.25%. Measured from Jun 2025 — the start of shared available history — CHPY has compounded at 82.12% a year versus 3.85% for BLOX. CHPY has been the steadier holding, though — annualized volatility of 40.2% against 57.7% for BLOX. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

BLOX vs CHPY — at a glance

Generated October 10, 2026.

Overview

BLOX and CHPY are both options-overlay ETFs designed to generate weekly income distributions that substantially exceed traditional equity yields. BLOX targets crypto-related companies with a 39.15% distribution rate, while CHPY focuses on semiconductor equities with a 44.77% yield. Both use covered calls and similar derivative strategies to manufacture income, but they compete in different market segments and carry different levels of volatility.

How they differ

The biggest difference is their underlying exposure: BLOX holds crypto-related companies, while CHPY holds U.S. semiconductor equities—fundamentally different business sectors. CHPY's semiconductor focus comes with lower volatility (beta of 1.8613 versus BLOX's 3.1121), reflecting the relative stability of chip-company stocks versus crypto-adjacent firms. On yield, CHPY edges BLOX with a 44.77% distribution rate against 39.15%, and CHPY has substantially larger assets under management at $1.35B compared to $304M. Both charge similar fees (0.99% and 1.03%), and both launched in mid-2025, making them very new strategies with minimal performance history.

Who each is best for

BLOX: Fits investors seeking high-frequency income from crypto-sector exposure, comfortable with triple-digit beta and the amplified swings that come with it, and willing to accept uncertainty around whether weekly distributions will rely partly on return of capital.

CHPY: Fits investors wanting similarly aggressive weekly payouts but with exposure to an established industrial sector (semiconductors) rather than speculative crypto exposure, accepting moderate leverage in exchange for lower volatility than crypto-focused alternatives.

Key risks to know

  • Synthetic income and NAV erosion: Both funds' 39.15% and 44.77% yields far exceed historical equity market returns. This gap raises the question of whether distributions can be sustained from underlying earnings and appreciation alone, or whether they may include significant return-of-capital components that erode NAV over time.
  • Extreme beta and price volatility: BLOX's beta of 3.1121 means its price swings roughly three times as much as the broader market; CHPY's 1.8613 still indicates sensitivity to market downturns. Investors may face steep drawdowns during risk-off periods, amplifying losses even as weekly income arrives.
  • Options assignment and forced liquidation risk: Both funds write calls against their holdings. If underlying positions rise sharply, assignment can force the fund to sell appreciated securities, capping upside gains and potentially triggering taxable events or cash drag.
  • Very short track record: Both funds launched in mid-2025. Neither has survived a full market cycle or a significant correction, so their resilience during volatility is untested and their actual payout sustainability remains unproven.
  • Sector concentration: CHPY's focus on semiconductors and BLOX's concentration in crypto-related firms create single-sector risk; sector underperformance or a regulatory shock could hit both holdings and options premium simultaneously.

Bottom line

If you value sector diversification and lower volatility alongside high income, CHPY's semiconductor focus and lower beta profile offer a smoother ride than BLOX's crypto exposure. If you're drawn to direct crypto-sector conviction, BLOX delivers that focus—but both funds' yields suggest a material portion may depend on return of capital rather than underlying appreciation. Past performance does not predict future results, and these are untested strategies launched in 2025.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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These comparisons follow the Dividend Vision methodology.