BCOR vs. USDX

Last updated Jun 4, 2026

BCOR (Grayscale Bitcoin Adopters ETF) and USDX (SGI Enhanced Core ETF) are both exchange-traded funds - BCOR is a Blockchain fund tracking the Indxx Bitcoin Adopters Index, while USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments. BCOR is passively managed, while USDX is actively managed. Over the past year, BCOR returned -17.33% vs 6.22% for USDX. At a correlation of -0.05, they often move in opposite directions. BCOR charges 0.59%/yr vs 0.98%/yr for USDX.

Performance

BCOR vs. USDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Adopters ETF (BCOR) and SGI Enhanced Core ETF (USDX). 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 USDX's 1.99% return.

BCOR

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

USDX

• 1D: 0.00%
• 1M: 0.43%
• YTD: 1.99%
• 6M: 2.50%
• 1Y: 6.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BCOR vs. USDX - Yearly Performance Comparison

	2026 (YTD)	2025
BCOR Grayscale Bitcoin Adopters ETF	-2.23%	4.14%
USDX SGI Enhanced Core ETF	1.99%	4.71%

Correlation

The correlation between BCOR and USDX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (All Time) Calculated using the full available price history since May 1, 2025	-0.05

BCOR vs. USDX - Sectors Allocation Comparison

Sectors	BCOR	USDX
Technology	34.3%	-
Consumer Cyclical	32.9%	-
Financial Services	22.8%	84.7%
Communication Services	8.3%	-
Industrials	0.9%	-
Energy	0.5%	-
Utilities	0.2%	-
Healthcare	0.2%	-
Basic Materials	-	-
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

BCOR vs. USDX — 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

USDX

USDX Risk / Return Rank: 94
USDX Sharpe Ratio Rank: 91
USDX Sortino Ratio Rank: 94
USDX Omega Ratio Rank: 96
USDX Calmar Ratio Rank: 93
USDX Martin Ratio Rank: 97

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. USDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Adopters ETF (BCOR) and SGI Enhanced Core ETF (USDX). 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	USDX	Difference
Sharpe ratio: Return per unit of total volatility	-0.42	3.26	-3.69
Sortino ratio: Return per unit of downside risk	-0.37	5.08	-5.44
Omega ratio: Gain probability vs. loss probability	0.96	1.82	-0.86
Calmar ratio: Return relative to maximum drawdown	-0.40	6.66	-7.07
Martin ratio: Return relative to average drawdown	-0.75	47.89	-48.64
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. USDX - Sharpe Ratio Comparison

The current BCOR Sharpe Ratio is -0.42, which is lower than the USDX Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of BCOR and USDX, 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	USDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	3.26	-3.69
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	4.03	-3.99

Drawdowns

BCOR vs. USDX - Drawdown Comparison

The maximum BCOR drawdown since its inception was -42.99%, which is greater than USDX's maximum drawdown of -0.94%. Use the drawdown chart below to compare losses from any high point for BCOR and USDX.

Drawdown Indicators

	BCOR	USDX	Difference
Max Drawdown Largest peak-to-trough decline	-42.99%	-0.94%	-42.05%
Max Drawdown (1Y) Largest decline over 1 year	-42.99%	-0.94%	-42.05%
Current Drawdown Current decline from peak	-30.84%	-0.45%	-30.39%
Average Drawdown Average peak-to-trough decline	-18.11%	-0.06%	-18.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.12%	0.13%	+22.99%

Volatility

BCOR vs. USDX - Volatility Comparison

Grayscale Bitcoin Adopters ETF (BCOR) has a higher volatility of 10.49% compared to SGI Enhanced Core ETF (USDX) at 1.00%. This indicates that BCOR's price experiences larger fluctuations and is considered to be riskier than USDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCOR	USDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.49%	1.00%	+9.49%
Volatility (6M) Calculated over the trailing 6-month period	31.45%	1.72%	+29.73%
Volatility (1Y) Calculated over the trailing 1-year period	41.24%	1.91%	+39.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.93%	1.68%	+41.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.93%	1.68%	+41.25%

BCOR vs. USDX - Expense Ratio Comparison

BCOR has a 0.59% expense ratio, which is lower than USDX's 0.98% expense ratio.

Dividends

BCOR vs. USDX - Dividend Comparison

BCOR's dividend yield for the trailing twelve months is around 3.17%, less than USDX's 5.89% yield.

Position	TTM	2025	2024
BCOR Grayscale Bitcoin Adopters ETF	3.17%	3.10%	0.00%
USDX SGI Enhanced Core ETF	5.89%	5.88%	4.60%

Frequently Asked Questions

Can I hold both BCOR and USDX in my portfolio?

BCOR and USDX have a correlation of -0.01, 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 USDX?

BCOR has higher volatility (10.49%) compared to USDX (1.00%). In terms of maximum drawdown, BCOR dropped -42.99% vs USDX's -0.94%.

Which ETF is better, BCOR or USDX?

On 1-year performance, USDX leads with 6.22% vs -17.33% for BCOR. On fees, BCOR is cheaper at 0.59% per year. On volatility, USDX has been the lower-risk option at 1.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCOR or USDX?

Over the 1-year period, USDX has performed better with a 6.22% 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 USDX?

BCOR is cheaper with a 0.59% expense ratio, compared with 0.98% for USDX.

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

USDX has the higher dividend yield at 5.89%, compared with 3.17% for BCOR.

What is the main difference between BCOR and USDX?

BCOR is categorized as Blockchain, while USDX is Intermediate Core Bond. They also come from different issuers: Grayscale and Summit Global Investments. Their fees differ too: 0.59% for BCOR and 0.98% for USDX.

Which has better risk-adjusted returns?

USDX currently has the higher Sharpe Ratio (3.26 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.