BLCN vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) and Bitcoin (BTC-USD).

BLCN is a passively managed fund by SRN Advisors that tracks the performance of the Siren NASDAQ Blockchain Economy Index. It was launched on Jan 17, 2018.

Performance

BLCN vs. BTC-USD - 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 Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

BLCN vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	-11.69%	-3.69%	5.62%	21.09%	-51.76%	4.86%	60.60%	33.94%	-19.15%
BTC-USD Bitcoin	-21.63%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-67.04%

Returns By Period

In the year-to-date period, BLCN achieves a -11.69% return, which is significantly higher than BTC-USD's -21.63% return.

BLCN

• 1D: 0.76%
• 1M: -6.50%
• YTD: -11.69%
• 6M: -22.06%
• 1Y: 13.51%
• 3Y*: 0.94%
• 5Y*: -14.37%
• 10Y*: —

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

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

Return for Risk

BLCN vs. BTC-USD — Risk / Return Rank

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

BLCN

BLCN Risk / Return Rank: 22
BLCN Sharpe Ratio Rank: 21
BLCN Sortino Ratio Rank: 25
BLCN Omega Ratio Rank: 23
BLCN Calmar Ratio Rank: 22
BLCN Martin Ratio Rank: 20

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

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. BTC-USD - 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 Bitcoin (BTC-USD). 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.

	BLCN	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	0.34	-0.44	+0.78
Sortino ratio Return per unit of downside risk	0.78	-0.38	+1.16
Omega ratio Gain probability vs. loss probability	1.09	0.96	+0.13
Calmar ratio Return relative to maximum drawdown	0.47	-1.11	+1.58
Martin ratio Return relative to average drawdown	1.14	-1.99	+3.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLCN vs. BTC-USD - Sharpe Ratio Comparison

The current BLCN Sharpe Ratio is 0.34, which is higher than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of BLCN and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BLCN	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	-0.44	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	0.05	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	1.19	-1.21

Correlation

The correlation between BLCN and BTC-USD is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

BLCN vs. BTC-USD - Drawdown Comparison

The maximum BLCN drawdown since its inception was -67.51%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BLCN and BTC-USD.

Drawdown Indicators

	BLCN	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-67.51%	-85.30%	+17.79%
Max Drawdown (1Y) Largest decline over 1 year	-29.53%	-49.65%	+20.12%
Max Drawdown (5Y) Largest decline over 5 years	-67.51%	-76.67%	+9.16%
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-57.14%	-45.02%	-12.12%
Average Drawdown Average peak-to-trough decline	-29.87%	-41.99%	+12.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.25%	27.60%	-15.35%

Volatility

BLCN vs. BTC-USD - Volatility Comparison

The current volatility for Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) is 12.51%, while Bitcoin (BTC-USD) has a volatility of 13.58%. This indicates that BLCN experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLCN	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.51%	13.58%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	26.28%	35.98%	-9.70%
Volatility (1Y) Calculated over the trailing 1-year period	39.96%	36.76%	+3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.08%	46.90%	-12.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.88%	56.70%	-25.82%