BCDF vs. SFTX
BCDF (Horizon Kinetics Blockchain Development ETF) and SFTX (Horizon International Managed Risk ETF) are both exchange-traded funds - BCDF is a Cryptocurrency fund actively managed by Horizon, while SFTX is a Tactical Allocation fund actively managed by Horizon. Both are actively managed. Their 0.28 correlation means their historical movements had little consistent relationship. BCDF charges 0.85%/yr vs 0.82%/yr for SFTX.
Performance
BCDF vs. SFTX - Performance Comparison
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Returns By Period
In the year-to-date period, BCDF achieves a 6.12% return, which is significantly lower than SFTX's 18.25% 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%
SFTX
- 1D
- 0.26%
- 1M
- -0.75%
- 6M
- 9.90%
- YTD
- 18.25%
- 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 | |
| $25.91M | $12.85M | $7.82M |
BCDF vs. SFTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BCDF Horizon Kinetics Blockchain Development ETF | 6.12% | 1.20% |
SFTX Horizon International Managed Risk ETF | 18.25% | 1.61% |
Correlation
The correlation between BCDF and SFTX is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025 | 0.28 |
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Return for Risk
BCDF vs. SFTX — Risk / Return Rank
BCDF
SFTX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BCDF vs. SFTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Blockchain Development ETF (BCDF) and Horizon International Managed Risk ETF (SFTX). 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 | SFTX | 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. SFTX - Drawdown Comparison
The maximum BCDF drawdown since its inception was -27.70%, which is greater than SFTX's maximum drawdown of -12.75%. Use the drawdown chart below to compare losses from any high point for BCDF and SFTX.
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Drawdown Indicators
| BCDF | SFTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.70% | -12.75% | -14.95% |
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% | -4.30% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -2.96% | -6.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | — | — |
Volatility
BCDF vs. SFTX - Volatility Comparison
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Volatility by Period
| BCDF | SFTX | 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% | 22.48% | -7.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 22.48% | -5.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.87% | 22.48% | -5.61% |
BCDF vs. SFTX - Expense Ratio Comparison
BCDF has a 0.85% expense ratio, which is higher than SFTX's 0.82% expense ratio.
Dividends
BCDF vs. SFTX - Dividend Comparison
BCDF's dividend yield for the trailing twelve months is around 2.38%, more than SFTX's 0.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BCDF Horizon Kinetics Blockchain Development ETF | 2.38% | 2.53% | 1.63% | 0.69% | 0.38% |
SFTX Horizon International Managed Risk ETF | 0.21% | 0.25% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BCDF and SFTX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SFTX is cheaper at 0.82% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SFTX is cheaper with a 0.82% expense ratio, compared with 0.85% for BCDF.
BCDF has the higher dividend yield at 2.38%, compared with 0.21% for SFTX.
BCDF is categorized as Cryptocurrency, while SFTX is Tactical Allocation. Their fees differ too: 0.85% for BCDF and 0.82% for SFTX.
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