BLCN vs. AFOS

Last updated Jul 17, 2026

BLCN (Siren ETF Trust Siren Nasdaq NexGen Economy ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. Over the past year, BLCN returned 0.77% vs 67.10% for AFOS. A 0.53 correlation means they provide meaningful diversification when combined. BLCN charges 0.68%/yr vs 0.45%/yr for AFOS.

Performance

BLCN vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLCN achieves a 1.35% return, which is significantly lower than AFOS's 27.19% return.

BLCN

• 1D: 0.00%
• 1M: -8.97%
• 6M: -2.95%
• YTD: 1.35%
• 1Y: 0.77%
• 3Y*: 2.06%
• 5Y*: -10.83%
• 10Y*: —

AFOS

• 1D: -2.05%
• 1M: -4.38%
• 6M: 18.66%
• YTD: 27.19%
• 1Y: 67.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BLCN vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	1.35%	9.83%
AFOS ARS Focused Opportunities Strategy ETF	27.19%	37.10%

Correlation

The correlation between BLCN and AFOS is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.53

The correlation between BLCN and AFOS has been stable across timeframes, ranging from 0.53 to 0.54 - a consistent structural relationship.

Return for Risk

BLCN vs. AFOS — Risk / Return Rank

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

BLCN

BLCN Risk / Return Rank: 10
BLCN Sharpe Ratio Rank: 10
BLCN Sortino Ratio Rank: 11
BLCN Omega Ratio Rank: 11
BLCN Calmar Ratio Rank: 10
BLCN Martin Ratio Rank: 10

AFOS

AFOS Risk / Return Rank: 94
AFOS Sharpe Ratio Rank: 95
AFOS Sortino Ratio Rank: 93
AFOS Omega Ratio Rank: 92
AFOS Calmar Ratio Rank: 95
AFOS Martin Ratio Rank: 96

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.

BLCN vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

	BLCN	AFOS	Difference
Sharpe ratio: Return per unit of total volatility	0.02	3.03	-3.01
Sortino ratio: Return per unit of downside risk	0.30	3.72	-3.42
Omega ratio: Gain probability vs. loss probability	1.04	1.49	-0.45
Calmar ratio: Return relative to maximum drawdown	0.03	5.86	-5.83
Martin ratio: Return relative to average drawdown	0.05	24.92	-24.86

BLCN vs. AFOS - Sharpe Ratio Comparison

The current BLCN Sharpe Ratio is 0.02, which is lower than the AFOS Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of BLCN and AFOS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BLCN vs. AFOS - Drawdown Comparison

The maximum BLCN drawdown since its inception was -67.51%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for BLCN and AFOS.

Drawdown Indicators

	BLCN	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-67.51%	-11.52%	-55.99%
Max Drawdown (1Y) Largest decline over 1 year	-29.53%	-11.52%	-18.01%
Max Drawdown (3Y) Largest decline over 3 years	-45.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-67.51%	—	—
Current Drawdown Current decline from peak	-50.81%	-7.02%	-43.79%
Average Drawdown Average peak-to-trough decline	-30.52%	-1.58%	-28.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.43%	2.70%	+11.73%

Volatility

BLCN vs. AFOS - Volatility Comparison

Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) has a higher volatility of 9.60% compared to ARS Focused Opportunities Strategy ETF (AFOS) at 7.83%. This indicates that BLCN's price experiences larger fluctuations and is considered to be riskier than AFOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLCN	AFOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.60%	7.83%	+1.77%
Volatility (6M) Calculated over the trailing 6-month period	28.35%	18.52%	+9.83%
Volatility (1Y) Calculated over the trailing 1-year period	37.43%	22.26%	+15.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.38%	21.80%	+13.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.34%	21.80%	+9.54%

BLCN vs. AFOS - Expense Ratio Comparison

BLCN has a 0.68% expense ratio, which is higher than AFOS's 0.45% expense ratio.

Dividends

BLCN vs. AFOS - Dividend Comparison

BLCN's dividend yield for the trailing twelve months is around 2.85%, more than AFOS's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AFOS ARS Focused Opportunities Strategy ETF	0.23%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	2.85%	3.01%	0.67%	0.54%	1.28%	0.56%	0.58%	1.45%	1.16%

Frequently Asked Questions

Can I hold both BLCN and AFOS in my portfolio?

BLCN and AFOS have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLCN or AFOS?

BLCN has higher volatility (9.60%) compared to AFOS (7.83%). In terms of maximum drawdown, BLCN dropped -67.51% vs AFOS's -11.52%.

Which ETF is better, BLCN or AFOS?

On 1-year performance, AFOS leads with 67.10% vs 0.77% for BLCN. On fees, AFOS is cheaper at 0.45% per year. On volatility, AFOS has been the lower-risk option at 7.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLCN or AFOS?

Over the 1-year period, AFOS has performed better with a 67.10% return vs 0.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLCN or AFOS?

AFOS is cheaper with a 0.45% expense ratio, compared with 0.68% for BLCN.

Which ETF pays a higher dividend yield, BLCN or AFOS?

BLCN has the higher dividend yield at 2.85%, compared with 0.23% for AFOS.

What is the main difference between BLCN and AFOS?

They also come from different issuers: SRN Advisors and ARS Investment Partners. Their fees differ too: 0.68% for BLCN and 0.45% for AFOS.

Which has better risk-adjusted returns?

AFOS currently has the higher Sharpe Ratio (3.03 vs 0.02), 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.