BPAY vs. GFOF

Last updated Jul 14, 2026

BPAY (BlackRock Future Financial and Technology ETF) and GFOF (Grayscale Future of Finance ETF) are both exchange-traded funds - BPAY is a Financials Equities fund actively managed by BlackRock, while GFOF is a Blockchain fund tracking the Bloomberg Grayscale Future of Finance Index. BPAY is actively managed, while GFOF is passively managed. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.70% expense ratio.

Performance

BPAY vs. GFOF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Future Financial and Technology ETF (BPAY) and Grayscale Future of Finance ETF (GFOF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BPAY

• 1D: -1.19%
• 1M: 10.36%
• 6M: -5.00%
• YTD: -2.19%
• 1Y: -11.61%
• 3Y*: 10.10%
• 5Y*: —
• 10Y*: —

GFOF

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BPAY vs. GFOF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	-2.19%	8.54%	17.28%	13.19%	-16.32%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	60.08%	145.49%	-51.38%

Correlation

The correlation between BPAY and GFOF is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022	0.43

The correlation between BPAY and GFOF shifts across timeframes, from 0.33 (3 years) to 0.43 (all time), reflecting how their relationship changes across market environments.

BPAY vs. GFOF - Sectors Allocation Comparison

Sectors	BPAY	GFOF
Financial Services	58.0%	57.4%
Technology	30.5%	22.8%
Consumer Cyclical	6.4%	-
Industrials	5.1%	3.4%
Real Estate	2.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	8.5%
Utilities	-	-

Return for Risk

BPAY vs. GFOF — Risk / Return Rank

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

BPAY

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

GFOF

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.

BPAY vs. GFOF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and Grayscale Future of Finance ETF (GFOF). 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.

	BPAY	GFOF	Difference
Sharpe ratio: Return per unit of total volatility	-0.45	—	—
Sortino ratio: Return per unit of downside risk	-0.46	—	—
Omega ratio: Gain probability vs. loss probability	0.95	—	—
Calmar ratio: Return relative to maximum drawdown	-0.35	—	—
Martin ratio: Return relative to average drawdown	-0.63	—	—

Drawdowns

Drawdown Indicators

	BPAY	GFOF	Difference
Max Drawdown Largest peak-to-trough decline	-33.62%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-33.62%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-33.62%	—	—
Current Drawdown Current decline from peak	-17.37%	—	—
Average Drawdown Average peak-to-trough decline	-10.83%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	18.39%	—	—

Volatility

Volatility by Period

	BPAY	GFOF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.17%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.51%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.51%	—	—

BPAY vs. GFOF - Expense Ratio Comparison

Both BPAY and GFOF have an expense ratio of 0.70%.

Dividends

BPAY vs. GFOF - Dividend Comparison

BPAY's dividend yield for the trailing twelve months is around 6.93%, while GFOF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	6.93%	6.49%	0.48%	1.18%	0.18%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%	0.00%

Frequently Asked Questions

Can I hold both BPAY and GFOF in my portfolio?

BPAY and GFOF have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BPAY or GFOF?

Both ETFs have the same 0.70% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BPAY or GFOF?

BPAY and GFOF have the same expense ratio: 0.70% per year.

Which ETF pays a higher dividend yield, BPAY or GFOF?

BPAY has the higher dividend yield at 6.93%, compared with 0.00% for GFOF.

What is the main difference between BPAY and GFOF?

BPAY is categorized as Financials Equities, while GFOF is Blockchain. They also come from different issuers: BlackRock and Grayscale.