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Launched · SEC filings

Hashdex Nasdaq Crypto Index US ETF

NCIQNasdaqA

$19.11−0.10 (−0.51%)

At close: Nov 2, 2026, 4:00 PM ET

A71/ 100

Rank 2 of 10 in Spot Crypto Basket

A71/100Rank 2 of 10inSpot Crypto Basket
Intraday session: down, 79 prints from 19.20 to 19.11. Range 19.07 to 19.45. Use the arrow keys to read each point.19.3019.4010 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$447M
1Y total return
−34.1%
Yield · Last 12 months
No data
Holdings
10
Avg volume · 30D
48.7K sh
52W range
low $14.38high $28.86
Launched
Filings
SEC EDGAR

The ETF.net NCIQ Grade

Based on 5 of 6 pillars

A

Score 71 out of 100

Category
Spot Crypto Basket⁠
Rank
2 of 10
Six-pillar profile for NCIQ. Scores out of 100: Cost 75, Risk 35, Mission 100, Tradability 54, Holdings not scored, Durability 68. Strongest: Mission (100). Weakest: Risk (35). Based on 5 of 6 pillars.

Score 71 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A75 out of 100
    Rank 3 of 10

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 8

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D35 out of 100
    Rank 6 of 10

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C54 out of 100
    Rank 5 of 10

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B68 out of 100
    Rank 3 of 10

Our read on NCIQ

ETF.net Research

In short

AA passive basket of the digital assets in a Nasdaq index, run at 0.25% a year while the typical multi-coin crypto fund charges more than double that. It tracks the index and makes no attempt to beat it.

Stated mandate

The Trust seeks to match the daily price changes of its reference index, after expenses and liabilities, by investing in the index's digital-asset constituents. It uses a passive strategy and does not seek to outperform the index.

Why people hold it

  • Charges 0.25% a year, well under half the 0.59% median for multi-coin crypto baskets such as GDLC and KRYP.
  • Narrow, literal mandate: match the daily moves of the Nasdaq CME Crypto Settlement Price Index after expenses, no outperformance attempt. It has hewed closely to that job.
  • One ticker buys the whole index basket, so no exchange accounts, wallets or self-custody to manage.

Worth knowing

  • Structured as a trust rather than a registered fund, so the protections investors get under the Investment Company Act do not apply here.
  • Generally pays no cash distributions, so any return has to come from price moves alone.
  • Crypto prices swing hard, and with a January 2025 launch the live track record is still short.

NCIQ Performance

Launched Feb 13, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
NCIQ$6,586
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. NCIQ $6,586. SPY $11,199. Use the arrow keys to read each point.$5,000$7,500$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for NCIQ. Periods over one year show the average yearly return.
PeriodNCIQ
Year to date−15.5%
1 month−9.5%
3 months+22.3%
1 year−34.1%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NCIQ
YearReturn barNCIQ
2026 YTD−15.5%
2025−9.1%

Since listing, Feb 13, 2025

NCIQ in the news

NCIQ Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

NCIQ Risk

Risk pillarD35 out of 100Rank 6 of 10 in Spot Crypto Basket
How much the fund’s monthly returns vary, scaled to a year.
43.2%
Annualised · 20 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.06
vs 3-month T-bills · 20 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−57.0%
20 months · trough Jun 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.09
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

NCIQ Cost

Compare NCIQ and EZPZ

Overpaying vs EZPZ, cheapest in Spot Crypto Basket

$1,207

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • NCIQ 0.25%

    $5,159

  • EZPZ 0.19% Cheapest

    $3,952

$10,000
30 years

Cost over time

  • NCIQ 0.25%
  • EZPZ 0.19%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530NCIQ $5,159EZPZ $3,952

Year by year

YearNCIQEZPZOverpaying
10$455$347$108
20$1,769$1,351$418
30$5,159$3,952$1,207

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