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ETCO vs. BCDF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

ETCO vs. BCDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Ethereum Covered Call ETF (ETCO) and Horizon Kinetics Blockchain Development ETF (BCDF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ETCO achieves a -29.56% return, which is significantly lower than BCDF's 3.39% return.


ETCO

1D
-4.36%
1M
-14.31%
YTD
-29.56%
6M
-27.75%
1Y
3Y*
5Y*
10Y*

BCDF

1D
-2.66%
1M
-4.12%
YTD
3.39%
6M
4.63%
1Y
6.17%
3Y*
15.04%
5Y*
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

ETCO vs. BCDF - Yearly Performance Comparison


Correlation

The correlation between ETCO and BCDF is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (All Time)
Calculated using the full available price history since Sep 5, 2025

0.49

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Return for Risk

ETCO vs. BCDF — Risk / Return Rank

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

ETCO

BCDF
BCDF Risk / Return Rank: 1616
Overall Rank
BCDF Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
BCDF Sortino Ratio Rank: 1515
Sortino Ratio Rank
BCDF Omega Ratio Rank: 1414
Omega Ratio Rank
BCDF Calmar Ratio Rank: 1919
Calmar Ratio Rank
BCDF Martin Ratio Rank: 1717
Martin Ratio Rank
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.

ETCO vs. BCDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Covered Call ETF (ETCO) 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.


Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ETCO vs. BCDF - Sharpe Ratio Comparison


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Sharpe Ratios by Period


ETCOBCDFDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.42

Sharpe Ratio (All Time)

Calculated using the full available price history

-1.11

0.40

-1.50

Drawdowns

ETCO vs. BCDF - Drawdown Comparison

The maximum ETCO drawdown since its inception was -56.81%, which is greater than BCDF's maximum drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for ETCO and BCDF.


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Drawdown Indicators


ETCOBCDFDifference

Max Drawdown

Largest peak-to-trough decline

-56.81%

-27.70%

-29.11%

Max Drawdown (1Y)

Largest decline over 1 year

-7.51%

Max Drawdown (3Y)

Largest decline over 3 years

-13.46%

Current Drawdown

Current decline from peak

-51.70%

-7.49%

-44.21%

Average Drawdown

Average peak-to-trough decline

-34.33%

-9.84%

-24.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

Volatility

ETCO vs. BCDF - Volatility Comparison


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Volatility by Period


ETCOBCDFDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.22%

Volatility (6M)

Calculated over the trailing 6-month period

11.17%

Volatility (1Y)

Calculated over the trailing 1-year period

52.29%

14.75%

+37.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

52.29%

16.95%

+35.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

52.29%

16.95%

+35.34%

ETCO vs. BCDF - Expense Ratio Comparison

ETCO has a 0.66% expense ratio, which is lower than BCDF's 0.85% expense ratio.


Dividends

ETCO vs. BCDF - Dividend Comparison

ETCO's dividend yield for the trailing twelve months is around 120.50%, more than BCDF's 2.44% yield.


PositionTTM2025202420232022
BCDF
Horizon Kinetics Blockchain Development ETF
2.44%2.53%1.63%0.69%0.38%
ETCO
Grayscale Ethereum Covered Call ETF
120.50%42.29%0.00%0.00%0.00%

Frequently Asked Questions


ETCO and BCDF have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ETCO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ETCO is cheaper with a 0.66% expense ratio, compared with 0.85% for BCDF.

ETCO has the higher dividend yield at 120.50%, compared with 2.44% for BCDF.

They also come from different issuers: Grayscale and Horizon. Their fees differ too: 0.66% for ETCO and 0.85% for BCDF.

Portfolio Optimizer

Find the right allocation for ETCO and BCDF

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