BCOR vs. STCE

Last updated Jun 4, 2026

BCOR (Grayscale Bitcoin Adopters ETF) and STCE (Schwab Crypto Thematic ETF) are both Blockchain funds - BCOR tracks the Indxx Bitcoin Adopters Index while STCE tracks the Schwab Crypto Thematic Index. Both are passively managed. Over the past year, BCOR returned -17.33% vs 84.98% for STCE. Their correlation of 0.83 suggests significant overlap in exposure. BCOR charges 0.59%/yr vs 0.30%/yr for STCE.

Performance

BCOR vs. STCE - Performance Comparison

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

Returns By Period

In the year-to-date period, BCOR achieves a -2.23% return, which is significantly lower than STCE's 32.00% return.

BCOR

• 1D: -2.77%
• 1M: -5.42%
• YTD: -2.23%
• 6M: -9.89%
• 1Y: -17.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

STCE

• 1D: -1.96%
• 1M: 16.12%
• YTD: 32.00%
• 6M: 10.29%
• 1Y: 84.98%
• 3Y*: 58.04%
• 5Y*: —
• 10Y*: —

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

BCOR vs. STCE - Yearly Performance Comparison

	2026 (YTD)	2025
BCOR Grayscale Bitcoin Adopters ETF	-2.23%	4.14%
STCE Schwab Crypto Thematic ETF	32.00%	68.48%

Correlation

The correlation between BCOR and STCE is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.83

The correlation between BCOR and STCE has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

BCOR vs. STCE - Sectors Allocation Comparison

Sectors	BCOR	STCE
Technology	34.3%	30.9%
Consumer Cyclical	32.9%	-
Financial Services	22.8%	62.9%
Communication Services	8.3%	6.2%
Industrials	0.9%	-
Energy	0.5%	0.0%
Utilities	0.2%	-
Healthcare	0.2%	-
Basic Materials	-	-
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

BCOR vs. STCE — Risk / Return Rank

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

BCOR

BCOR Risk / Return Rank: 6
BCOR Sharpe Ratio Rank: 5
BCOR Sortino Ratio Rank: 6
BCOR Omega Ratio Rank: 6
BCOR Calmar Ratio Rank: 6
BCOR Martin Ratio Rank: 6

STCE

STCE Risk / Return Rank: 33
STCE Sharpe Ratio Rank: 38
STCE Sortino Ratio Rank: 38
STCE Omega Ratio Rank: 34
STCE Calmar Ratio Rank: 32
STCE Martin Ratio Rank: 22

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. STCE - Risk-Adjusted Trends Comparison

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

	BCOR	STCE	Difference
Sharpe ratio Return per unit of total volatility	-0.42	1.40	-1.82
Sortino ratio Return per unit of downside risk	-0.37	1.99	-2.35
Omega ratio Gain probability vs. loss probability	0.96	1.24	-0.28
Calmar ratio Return relative to maximum drawdown	-0.40	1.58	-1.98
Martin ratio Return relative to average drawdown	-0.75	2.85	-3.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCOR vs. STCE - Sharpe Ratio Comparison

The current BCOR Sharpe Ratio is -0.42, which is lower than the STCE Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of BCOR and STCE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BCOR	STCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	1.40	-1.82
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.65	-0.61

Drawdowns

BCOR vs. STCE - Drawdown Comparison

The maximum BCOR drawdown since its inception was -42.99%, smaller than the maximum STCE drawdown of -54.11%. Use the drawdown chart below to compare losses from any high point for BCOR and STCE.

Drawdown Indicators

	BCOR	STCE	Difference
Max Drawdown Largest peak-to-trough decline	-42.99%	-54.11%	+11.12%
Max Drawdown (1Y) Largest decline over 1 year	-42.99%	-54.11%	+11.12%
Max Drawdown (3Y) Largest decline over 3 years	—	-54.11%	—
Current Drawdown Current decline from peak	-30.84%	-25.63%	-5.21%
Average Drawdown Average peak-to-trough decline	-18.11%	-21.98%	+3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.12%	29.87%	-6.75%

Volatility

BCOR vs. STCE - Volatility Comparison

The current volatility for Grayscale Bitcoin Adopters ETF (BCOR) is 10.49%, while Schwab Crypto Thematic ETF (STCE) has a volatility of 14.89%. This indicates that BCOR experiences smaller price fluctuations and is considered to be less risky than STCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCOR	STCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.49%	14.89%	-4.40%
Volatility (6M) Calculated over the trailing 6-month period	31.45%	42.80%	-11.35%
Volatility (1Y) Calculated over the trailing 1-year period	41.24%	61.14%	-19.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.93%	55.86%	-12.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.93%	55.86%	-12.93%

BCOR vs. STCE - Expense Ratio Comparison

BCOR has a 0.59% expense ratio, which is higher than STCE's 0.30% expense ratio.

Dividends

BCOR vs. STCE - Dividend Comparison

BCOR's dividend yield for the trailing twelve months is around 3.17%, more than STCE's 1.49% yield.

Position	TTM	2025	2024	2023	2022
BCOR Grayscale Bitcoin Adopters ETF	3.17%	3.10%	0.00%	0.00%	0.00%
STCE Schwab Crypto Thematic ETF	1.49%	1.96%	0.64%	0.31%	1.46%

Frequently Asked Questions

Can I hold both BCOR and STCE in my portfolio?

BCOR and STCE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCOR or STCE?

STCE has higher volatility (14.89%) compared to BCOR (10.49%). In terms of maximum drawdown, BCOR dropped -42.99% vs STCE's -54.11%.

Which ETF is better, BCOR or STCE?

On 1-year performance, STCE leads with 84.98% vs -17.33% for BCOR. On fees, STCE is cheaper at 0.30% per year. On volatility, BCOR has been the lower-risk option at 10.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCOR or STCE?

Over the 1-year period, STCE has performed better with a 84.98% return vs -17.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCOR or STCE?

STCE is cheaper with a 0.30% expense ratio, compared with 0.59% for BCOR.

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

BCOR has the higher dividend yield at 3.17%, compared with 1.49% for STCE.

What is the main difference between BCOR and STCE?

BCOR tracks Indxx Bitcoin Adopters Index, while STCE tracks Schwab Crypto Thematic Index. They also come from different issuers: Grayscale and Charles Schwab. Their fees differ too: 0.59% for BCOR and 0.30% for STCE.

Which has better risk-adjusted returns?

STCE currently has the higher Sharpe Ratio (1.40 vs -0.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.