BWOW vs. BCDF
BWOW (Bitwise Dogecoin ETF) and BCDF (Horizon Kinetics Blockchain Development ETF) are both Cryptocurrency funds. BWOW is passively managed, while BCDF is actively managed. Their 0.36 correlation means their historical movements had little consistent relationship. BWOW charges 0.34%/yr vs 0.85%/yr for BCDF.
Performance
BWOW vs. BCDF - Performance Comparison
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Returns By Period
In the year-to-date period, BWOW achieves a -40.04% return, which is significantly lower than BCDF's 6.93% return.
BWOW
- 1D
- 0.67%
- 1M
- -5.49%
- 6M
- -34.71%
- YTD
- -40.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
BCDF
- 1D
- 0.77%
- 1M
- 6.12%
- 6M
- 3.41%
- YTD
- 6.93%
- 1Y
- 6.47%
- 3Y*
- 15.30%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.03K | $19.91K | $42.03K | |
| $5.00K | $3.79K | $5.20K |
BWOW vs. BCDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BWOW Bitwise Dogecoin ETF | -40.04% | -22.26% |
BCDF Horizon Kinetics Blockchain Development ETF | 6.93% | 0.88% |
Correlation
The correlation between BWOW and BCDF is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025 | 0.36 |
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Return for Risk
BWOW vs. BCDF — Risk / Return Rank
BWOW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BCDF
BWOW vs. BCDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Dogecoin ETF (BWOW) and Horizon Kinetics Blockchain Development ETF (BCDF). 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.
| BWOW | BCDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.08 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.46 | — |
| Martin ratioReturn relative to average drawdown | — | 1.46 | — |
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Drawdowns
BWOW vs. BCDF - Drawdown Comparison
The maximum BWOW drawdown since its inception was -55.66%, which is greater than BCDF's maximum drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for BWOW and BCDF.
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Drawdown Indicators
| BWOW | BCDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.66% | -27.70% | -27.96% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.02% | — |
Current DrawdownCurrent decline from peak | -54.81% | -4.32% | -50.49% |
Average DrawdownAverage peak-to-trough decline | -33.95% | -9.75% | -24.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.46% | — |
Volatility
BWOW vs. BCDF - Volatility Comparison
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Volatility by Period
| BWOW | BCDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.45% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.22% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 68.59% | 15.10% | +53.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.59% | 16.86% | +51.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.59% | 16.86% | +51.73% |
BWOW vs. BCDF - Expense Ratio Comparison
BWOW has a 0.34% expense ratio, which is lower than BCDF's 0.85% expense ratio.
Dividends
BWOW vs. BCDF - Dividend Comparison
BWOW has not paid dividends to shareholders, while BCDF's dividend yield for the trailing twelve months is around 2.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BCDF Horizon Kinetics Blockchain Development ETF | 2.36% | 2.53% | 1.63% | 0.69% | 0.38% |
BWOW Bitwise Dogecoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BWOW and BCDF have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BWOW is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BWOW is cheaper with a 0.34% expense ratio, compared with 0.85% for BCDF.
BCDF has the higher dividend yield at 2.36%, compared with 0.00% for BWOW.
They also come from different issuers: Bitwise and Horizon. Their fees differ too: 0.34% for BWOW and 0.85% for BCDF.
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