Skip to content
etf.net

NCIQ vs TTOP

Hashdex Nasdaq Crypto Index US ETF

NCIQANasdaq

21Shares FTSE Crypto 10 Index ETF

TTOPCNYSE Arca

Overlap

Expense ratio

NCIQ −1.32pt a year

NCIQ0.25%TTOP1.57%

Avg volume · 30D

NCIQ 91.4×the volume

NCIQ48.7KTTOP533

NCIQ vs TTOP Performance

Dec 31, 2025 – Nov 2, 2026

−15.9%NCIQ−15.9%TTOP

Dec 31, 2025 to Nov 2, 2026. NCIQ −15.9%. TTOP −15.9%. Use the arrow keys to read each point.−30%−10%0%10%Dec 2025Jun 2026Nov 2026
Expense ratio
NCIQ 0.25%, better
TTOP 1.57%
Fund size
NCIQ $447M
TTOP $1M
1Y total return
NCIQ −34.5%
TTOP No data
Holdings
NCIQ 10
TTOP 11
Avg volume (30D)
NCIQ 48.7K sh, better
TTOP 533 sh
NAV per share
NCIQ $19.19
TTOP $17.94
52W range

ETF.net Grade

NCIQ: Cost 75, Risk 35, Mission 100, Tradability 54, Holdings not scored, Durability 68. TTOP: Cost 5, Risk 56, Mission 100, Tradability 12, Holdings 57, Durability 22.
Pillar letters and Scores for NCIQ, TTOP, with each pillar’s weight
PillarNCIQTTOP
Cost30% weightA75HigherF5
Mission25% weightA100A100
Risk15% weightD35B56Higher
Tradability15% weightC54HigherF12
Holdings10% weightNot scoredB57
Durability5% weightB68HigherF22

Rank among Spot Crypto Basket funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. NCIQ and TTOP are both graded against the same 10 Spot Crypto Basket funds, so their Grades compare head to head.

Spot Crypto Basket⁠

Category · 10 funds
See all 10 ›

NCIQ ranks 2nd and TTOP 8th of 10 funds in the Spot Crypto Basket Category.

  1. Rank 1AEZPZFranklin Crypto Index ETFScore 75
  2. Rank 2ANCIQHashdex Nasdaq Crypto Index US ETFScore 71
  3. Rank 3AGDLCGrayscale CoinDesk Crypto 5 ETFScore 70
  4. Rank 8CKRYPProShares CoinDesk 20 Crypto ETFScore 40
  5. Rank 8CTTOP21Shares FTSE Crypto 10 Index ETFScore 40
  6. Rank 8CTXBC21Shares FTSE Crypto 10 ex-BTC Index ETFScore 40

Our read on each fund

ETF.net Research

NCIQAHashdex Nasdaq Crypto Index US ETF

TTOPC21Shares FTSE Crypto 10 Index ETF

In short

NCIQ A 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.

TTOP No data

Stated mandate

NCIQ 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.

TTOP No data

Why people hold it

  • NCIQ 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.

TTOP No data

Worth knowing

  • NCIQ 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.

TTOP No data

Full NCIQ profile⁠

Full TTOP profile⁠

NCIQ vs TTOP Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

NCIQ vs TTOP Cost

Overpaying TTOP vs NCIQ

$22,107

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

  • NCIQ 0.25%

    $5,159

  • TTOP 1.57%

    $27,266

$10,000
30 years

Cost over time

  • NCIQ 0.25%
  • TTOP 1.57%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530TTOP $27,266NCIQ $5,159

Year by year

YearNCIQTTOPOverpaying
10$455$2,703$2,248
20$1,769$9,904$8,135
30$5,159$27,266$22,107

Expense ratio

  • 0.25%NCIQ, cheaper
  • 1.57%TTOP
  • Middle half of Spot Crypto Basket funds
  • Median 0.67%

NCIQ 3rd cheapest of 10 funds

TTOP 10th cheapest of 10 funds

NCIQ vs TTOP Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
NCIQ None
TTOP None

Distribution history

NCIQAll NCIQ payments⁠

No distribution history available.

TTOPAll TTOP payments⁠

No distribution history available.

NCIQ vs TTOP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NCIQ 43.2%since Mar 2025TTOP No data
Return per unit of riskSharpe ratio, 3 years
NCIQ −0.06since Mar 2025TTOP No data
Worst fallMax drawdown, 5 years
NCIQ −57.0%since Feb 2025TTOP No data
Market sensitivityBeta, 5 years
NCIQ 1.09TTOP 1.08

NCIQ and TTOP in the news

All news⁠

Popular comparisons

  • NCIQAvsEZPZA

    Hashdex Nasdaq Crypto Index US ETF · Franklin Crypto Index ETF

    Expense ratio
    0.25% · 0.19%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TTOPCvsEZPZA

    21Shares FTSE Crypto 10 Index ETF · Franklin Crypto Index ETF

    Expense ratio
    1.57% · 0.19%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NCIQAvsGDLCA

    Hashdex Nasdaq Crypto Index US ETF · Grayscale CoinDesk Crypto 5 ETF

    Expense ratio
    0.25% · 0.59%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TTOPCvsGDLCA

    21Shares FTSE Crypto 10 Index ETF · Grayscale CoinDesk Crypto 5 ETF

    Expense ratio
    1.57% · 0.59%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NCIQAvsBITWB

    Hashdex Nasdaq Crypto Index US ETF · Bitwise 10 Crypto Index ETF

    Expense ratio
    0.25% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TTOPCvsBITWB

    21Shares FTSE Crypto 10 Index ETF · Bitwise 10 Crypto Index ETF

    Expense ratio
    1.57% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.