BCOR vs. ETCO

Last updated Jul 14, 2026

BCOR (Grayscale Bitcoin Adopters ETF) and ETCO (Grayscale Ethereum Covered Call ETF) are both exchange-traded funds - BCOR is a Blockchain fund tracking the Indxx Bitcoin Adopters Index, while ETCO is a Cryptocurrency fund actively managed by Grayscale. BCOR is passively managed, while ETCO is actively managed. A 0.78 correlation means they provide meaningful diversification when combined. BCOR charges 0.59%/yr vs 0.66%/yr for ETCO.

Performance

BCOR vs. ETCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Adopters ETF (BCOR) and Grayscale Ethereum Covered Call ETF (ETCO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCOR achieves a -12.51% return, which is significantly higher than ETCO's -36.71% return.

BCOR

• 1D: -2.73%
• 1M: -8.22%
• 6M: -20.02%
• YTD: -12.51%
• 1Y: -33.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETCO

• 1D: -0.12%
• 1M: 1.67%
• 6M: -38.73%
• YTD: -36.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BCOR vs. ETCO - Yearly Performance Comparison

	2026 (YTD)	2025
BCOR Grayscale Bitcoin Adopters ETF	-12.51%	-15.22%
ETCO Grayscale Ethereum Covered Call ETF	-36.71%	-26.08%

Correlation

The correlation between BCOR and ETCO is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025	0.78

Return for Risk

BCOR vs. ETCO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BCOR

BCOR Risk / Return Rank: 3
BCOR Sharpe Ratio Rank: 3
BCOR Sortino Ratio Rank: 3
BCOR Omega Ratio Rank: 4
BCOR Calmar Ratio Rank: 3
BCOR Martin Ratio Rank: 3

ETCO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BCOR vs. ETCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Adopters ETF (BCOR) 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.

	BCOR	ETCO	Difference
Sharpe ratio: Return per unit of total volatility	-0.79	—	—
Sortino ratio: Return per unit of downside risk	-1.03	—	—
Omega ratio: Gain probability vs. loss probability	0.89	—	—
Calmar ratio: Return relative to maximum drawdown	-0.77	—	—
Martin ratio: Return relative to average drawdown	-1.28	—	—

Drawdowns

BCOR vs. ETCO - Drawdown Comparison

The maximum BCOR drawdown since its inception was -42.99%, smaller than the maximum ETCO drawdown of -59.43%. Use the drawdown chart below to compare losses from any high point for BCOR and ETCO.

Drawdown Indicators

	BCOR	ETCO	Difference
Max Drawdown Largest peak-to-trough decline	-42.99%	-59.43%	+16.44%
Max Drawdown (1Y) Largest decline over 1 year	-42.99%	—	—
Current Drawdown Current decline from peak	-38.12%	-56.60%	+18.48%
Average Drawdown Average peak-to-trough decline	-19.53%	-37.06%	+17.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.75%	—	—

Volatility

Volatility by Period

	BCOR	ETCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.25%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	42.03%	51.80%	-9.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.28%	51.80%	-8.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.28%	51.80%	-8.52%

BCOR vs. ETCO - Expense Ratio Comparison

BCOR has a 0.59% expense ratio, which is lower than ETCO's 0.66% expense ratio.

Dividends

BCOR vs. ETCO - Dividend Comparison

BCOR's dividend yield for the trailing twelve months is around 3.60%, less than ETCO's 146.28% yield.

Position	TTM	2025
BCOR Grayscale Bitcoin Adopters ETF	3.60%	3.10%
ETCO Grayscale Ethereum Covered Call ETF	146.28%	42.29%

Frequently Asked Questions

Can I hold both BCOR and ETCO in my portfolio?

BCOR and ETCO have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCOR or ETCO?

On fees, BCOR is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCOR or ETCO?

BCOR is cheaper with a 0.59% expense ratio, compared with 0.66% for ETCO.

Which ETF pays a higher dividend yield, BCOR or ETCO?

ETCO has the higher dividend yield at 146.28%, compared with 3.60% for BCOR.

What is the main difference between BCOR and ETCO?

BCOR is categorized as Blockchain, while ETCO is Cryptocurrency. Their fees differ too: 0.59% for BCOR and 0.66% for ETCO.