A side-by-side comparison of Hashdex Nasdaq Crypto Index US ETF (NCIQ) and iShares Bitcoin Trust (IBIT) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | NCIQ | IBIT |
|---|---|---|
| YTD Return | +34.61%✓ | +31.90% |
| 1-Day Change | +1.18% | +1.31%✓ |
| 1-Week Change | 0.00% | +0.31%✓ |
| 1-Month Change | +10.33%✓ | +9.60% |
| Current Price | $21.47 | $47.96 |
| AUM | $499M | $67.07B✓ |
| MER (Expense Ratio) | 25% | 0.12%✓ |
| Dividend Yield | — | — |
| Distribution Frequency | — | — |
| Inception Date | 2025-02-13 | 2024-01-05 |
| Holdings Count | 1 | 1 |
| MorningStar Rating | — | — |
| Category | Digital Assets | Digital Assets |
| Beta | 0.00 | 0.00 |
| 52-Week High | $34.26 | $71.82 |
| 52-Week Low | $14.38 | $32.84 |
| 50-Day MA | $18.36 | $41.53 |
| 200-Day MA | $18.76 | $41.94 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | NCIQ | IBIT |
|---|---|---|
| YTD | +34.61%✓ | +31.90% |
| 1 Year | -28.42% | -23.40%✓ |
| 3 Year | — | — |
| 5 Year | — | — |
| 10 Year | — | — |
| 1Y Volatility | 49.23% | 47.88% |
| Sharpe Ratio (3Y) | — | — |
Past performance is not a guarantee of future results.
Sector Weights
| Sector | NCIQ | IBIT |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 0.00% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About NCIQ
The sponsor will employ a passive investment strategy intended to track the changes in the index, regardless of its direction, meaning that the sponsor will not attempt to outperform the index. The index is designed to measure the performance of a portion of the overall crypto asset market.
About IBIT
The shares are intended to constitute a simple means of making an investment similar to an investment in bitcoin rather than by acquiring, holding and trading bitcoin directly on a peer-to-peer or other basis or via a digital asset exchange. The fund is non-diversified.
Which ETF is Right for You?
Both NCIQ and IBIT are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
NCIQ and IBIT are closely matched on the metrics we track. The right choice depends on your individual investment goals, tax situation, and time horizon.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between NCIQ and IBIT?
NCIQ (Hashdex Nasdaq Crypto Index US ETF) and IBIT (iShares Bitcoin Trust) are both Canadian-listed ETFs. Key differences include their AUM ($499M vs $67.07B), dividend yield (N/A vs N/A), and year-to-date performance (+34.61% vs +31.90%).
Is NCIQ better than IBIT?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, NCIQ has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy NCIQ and IBIT on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both NCIQ and IBIT should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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