BCDF vs. ETCO
BCDF (Horizon Kinetics Blockchain Development ETF) and ETCO (Grayscale Ethereum Covered Call ETF) are both Cryptocurrency funds. Both are actively managed. Their 0.47 correlation means their historical movements had little consistent relationship. BCDF charges 0.85%/yr vs 0.66%/yr for ETCO.
Performance
BCDF vs. ETCO - Performance Comparison
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Returns By Period
In the year-to-date period, BCDF achieves a 6.12% return, which is significantly higher than ETCO's -34.69% return.
BCDF
- 1D
- 0.13%
- 1M
- 5.32%
- 6M
- 1.82%
- YTD
- 6.12%
- 1Y
- 5.66%
- 3Y*
- 14.55%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.43%
ETCO
- 1D
- -2.50%
- 1M
- 5.77%
- 6M
- -27.08%
- YTD
- -34.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.32K | $19.89K | $48.05K | |
| $41.84K | $37.58K | $56.92K |
BCDF vs. ETCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BCDF Horizon Kinetics Blockchain Development ETF | 6.12% | 0.28% |
ETCO Grayscale Ethereum Covered Call ETF | -34.69% | -26.08% |
Correlation
The correlation between BCDF and ETCO is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025 | 0.47 |
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Return for Risk
BCDF vs. ETCO — Risk / Return Rank
BCDF
ETCO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BCDF vs. ETCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Blockchain Development ETF (BCDF) and Grayscale Ethereum Covered Call ETF (ETCO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BCDF | ETCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.07 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | — | — |
| Martin ratioReturn relative to average drawdown | 1.24 | — | — |
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Drawdowns
BCDF vs. ETCO - Drawdown Comparison
The maximum BCDF drawdown since its inception was -27.70%, smaller than the maximum ETCO drawdown of -59.43%. Use the drawdown chart below to compare losses from any high point for BCDF and ETCO.
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Drawdown Indicators
| BCDF | ETCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.70% | -59.43% | +31.73% |
Max Drawdown (1Y)Largest decline over 1 year | -14.02% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -14.02% | — | — |
Current DrawdownCurrent decline from peak | -5.05% | -55.22% | +50.17% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -38.17% | +28.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | — | — |
Volatility
BCDF vs. ETCO - Volatility Comparison
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Volatility by Period
| BCDF | ETCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.24% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.08% | 50.60% | -35.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 50.60% | -33.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.87% | 50.60% | -33.73% |
BCDF vs. ETCO - Expense Ratio Comparison
BCDF has a 0.85% expense ratio, which is higher than ETCO's 0.66% expense ratio.
Dividends
BCDF vs. ETCO - Dividend Comparison
BCDF's dividend yield for the trailing twelve months is around 2.38%, less than ETCO's 153.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BCDF Horizon Kinetics Blockchain Development ETF | 2.38% | 2.53% | 1.63% | 0.69% | 0.38% |
ETCO Grayscale Ethereum Covered Call ETF | 153.50% | 42.29% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BCDF and ETCO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETCO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETCO is cheaper with a 0.66% expense ratio, compared with 0.85% for BCDF.
ETCO has the higher dividend yield at 153.50%, compared with 2.38% for BCDF.
They also come from different issuers: Horizon and Grayscale. Their fees differ too: 0.85% for BCDF and 0.66% for ETCO.
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