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ETF Comparison

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

A head-to-head comparison of Nicholas Crypto Income ETF and NEOS Boosted Bitcoin High Income ETF covering yield, cost, risk, and income potential.

Data updated September 4, 2026

Best for

  • BLOXInvestors who want crypto exposure that pays you along the way, not just price gains.
  • XBCIInvestors who want to maximize current income — roughly 39.16%, 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

BLOX has lagged XBCI over the year to date, posting a -1.77% total return against 0.79%. 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.
SymbolYTDSince Feb 2026Volatility Sharpe Sortino Max drawdown
BLOX-1.77%6.28%59.3%0.100.14-27.7%
XBCI0.79%0.79%61.0%-0.05-0.07-37.3%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Feb 2026” measures every fund from February 3, 2026 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Feb 2026. 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 shared window since Feb 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricBLOXXBCI
Full nameNicholas Crypto Income ETFNEOS Boosted Bitcoin High Income ETF
IssuerNicholas Wealth ManagementNEOS
Underlying indexBasket (Equity portfolio focused on crypto-related companies)Bitcoin
Last Close$14.30 as of September 4, 2026$38.27 as of September 4, 2026
Distribution rate32.84%39.16%
Distribution Safety Score™ 4236
Safety-Adjusted Yield 13.79%14.10%
Expense ratio0.99%0.98%
AUM$310M$168M
Distribution frequencyWeeklyMonthly
ObjectiveSeeks to provide current income and capital appreciation through exposure to crypto-related companies with an options strategy generating weekly income distributions.“The NEOS Boosted Bitcoin High Income ETF (the ‘Fund’) seeks to boost performance by generating high monthly income with the potential for appreciation based on exposure to exchange‑traded products (‘ETPs’) that have direct exposure to Bitcoin.”
Asset classEquityEquity
Inception date06/17/202502/03/2026
Beta3.11212.2537
Last dividend$0.0903 declared, pays 09/08/2026$1.2488 payable today
Ex-dividend date09/04/202609/02/2026

Bottom lineChoose BLOX if you want crypto exposure that pays you along the way, not just price gains. Choose XBCI if you want to maximize current income — roughly 39.16%, generated by selling options premium. There's no free lunch: XBCI's payout comes from selling options, which caps upside and can erode the share price over time, while BLOX keeps full 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 XBCI 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 and XBCI sit 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.
  • Daily leverage reset. XBCI targets a multiple of the index's DAILY move, resetting every session. Over weeks and months the compounding of daily resets (volatility decay) can drag returns far below the stated multiple, especially in choppy markets — and losses are magnified the same way gains are.

Learn the mechanics: Return of capital, explained · NAV erosion, explained · Why daily-reset leverage decays

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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
ETFs14
Total AUM$716M

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
NEOS
ETFs19
Total AUM$32.9B

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

NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.

See our curated list of related YouTube videos on XBCI.

See all NEOS ETFs

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Quick verdict

BLOX (Nicholas Crypto Income ETF) and XBCI (NEOS Boosted Bitcoin High Income ETF) are both dividend ETFs, but they take different approaches.

XBCI offers the higher yield at 39.16% vs 32.84% for BLOX. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

XBCI is cheaper with an expense ratio of 0.98% compared to 0.99%.

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

BLOX is the larger fund by assets ($310M), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, BLOX would generate roughly $273.67/month, while XBCI would produce $326.33/month, at current distribution rates.

BLOX yield32.84%
XBCI yield39.16%
Monthly diff on $10K$52.67

Cost & efficiency

Over 10 years on $10,000, BLOX would cost approximately $990 in fees vs $980 for XBCI (simplified, not compounded). The $10.00 difference may be offset by yield or performance.

BLOX ER0.99%
XBCI ER0.98%

Strategy & risk

BLOX tracks Basket (Equity portfolio focused on crypto-related companies) with an options approach, while XBCI tracks Bitcoin with a crypto approach. Beta is 3.1121 for BLOX and 2.2537 for XBCI, making XBCI the less volatile of the two by this measure.

BLOX beta3.1121
XBCI beta2.2537

Fund details

BLOX is managed by Nicholas Wealth Management (launched 06/17/2025) with $310M in assets. XBCI is managed by NEOS (launched 02/03/2026) with $168M in assets.

BLOX AUM$310M
XBCI AUM$168M
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Frequently asked questions

What is the current distribution rate for BLOX and XBCI?

BLOX currently distributes 32.84% and XBCI 39.16%, based on fund data updated September 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 XBCI better for dividend income?

It depends on your goals. XBCI 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 XBCI?

BLOX (Nicholas Crypto Income ETF) tracks Basket (Equity portfolio focused on crypto-related companies) with an options approach, while XBCI (NEOS Boosted Bitcoin High Income ETF) tracks Bitcoin with a crypto approach. They are issued by Nicholas Wealth Management and NEOS respectively.

Can I hold both BLOX and XBCI?

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 XBCI safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — BLOX scores 42, XBCI scores 36, so BLOX's payout currently looks the more resilient of the two. XBCI has also shown lower price volatility (beta 2.25 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 XBCI?

BLOX has an expense ratio of 0.99% while XBCI charges 0.98%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in BLOX would generate roughly $273.67 per month ($3,284.00 annually). The same in XBCI would produce about $326.33 per month ($3,916.00 annually).

Which has performed better historically, BLOX or XBCI?

BLOX has lagged XBCI over the year to date, posting a -1.77% total return against 0.79%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

BLOX vs XBCI — at a glance

Generated September 6, 2026.

Overview

BLOX and XBCI are both crypto-focused ETFs built around options strategies to generate high current income, but they differ fundamentally in underlying exposure and structure. Both employ covered-call or similar options overlays to boost yields substantially above the crypto market itself.

Income generation and frequency diverge as well.

Volatility and recent launch timing matter too. XBCI carries a lower beta of 2.2537, though it still moves roughly 2.25 times the broader market; BLOX's beta is 3.1121, reflecting both crypto-equity concentration and the amplified swings of a covered-call portfolio in a young fund. BLOX launched in 06/17/2025 (1 year), while XBCI began 02/03/2026 (7 months), so both have minimal track record.

XBCI: Designed for income-focused holders who want direct, leveraged Bitcoin exposure and monthly distribution timing; fits investors prioritizing a single-asset focus and accepting that leverage and monthly rebalancing may introduce different tax and timing risks than traditional holdings.

Key risks to know

  • NAV erosion at extreme yields. Both funds distribute north of 30% annually—far exceeding typical underlying returns. Sustaining these payouts will likely require drawing down net asset value over time, slowly eroding principal. Investors should model what principal loss might look like over a 3-5 year horizon. If implied volatility collapses or Bitcoin rallies sharply, subsequent rolls may yield lower premiums, squeezing distribution sustainability.
  • Leverage amplification in XBCI. The use of leveraged Bitcoin ETPs compounds directional risk; a sharp drawdown in Bitcoin will hit the fund's NAV faster than unleveraged Bitcoin exposure would, and margin calls or rebalancing mechanics could force unexpected selling.
  • Concentration risk in XBCI. A single-asset fund (Bitcoin via ETPs) carries no equity diversification; systemic Bitcoin weakness or regulatory headwinds to the underlying products would affect the entire fund.
  • Extreme youth and unproven track record. Both funds are months old. Covered-call overlay performance, NAV drift, and distribution sustainability have not been tested through a full market cycle or crypto downturn.

Bottom line

Both funds are betting that weekly or monthly call premiums can sustain distributions in the 30%+ range on crypto exposure. Both carry meaningful principal-erosion risk; neither should be treated as a perpetual-income machine. Past performance does not predict future results, and both funds have yet to demonstrate distribution sustainability through a complete market cycle.

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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