GBAT vs. BFOC
GBAT (Grayscale Basic Attention Token Trust) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - GBAT is a Cryptocurrency fund actively managed by Grayscale, while BFOC is a Defined Outcome fund actively managed by First Trust. Both are actively managed. At a 0.36 correlation, their price movements are largely independent.
Performance
GBAT vs. BFOC - Performance Comparison
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Returns By Period
In the year-to-date period, GBAT achieves a -63.16% return, which is significantly lower than BFOC's -7.09% return.
GBAT
- 1D
- 2.77%
- 1M
- -27.03%
- YTD
- -63.16%
- 6M
- -63.28%
- 1Y
- -49.06%
- 3Y*
- -32.44%
- 5Y*
- —
- 10Y*
- —
BFOC
- 1D
- 0.07%
- 1M
- -0.30%
- YTD
- -7.09%
- 6M
- -7.06%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBAT vs. BFOC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GBAT Grayscale Basic Attention Token Trust | -63.16% | 17.78% |
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October | -7.09% | -9.75% |
Correlation
The correlation between GBAT and BFOC is 0.36, 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 Oct 1, 2025 | 0.36 |
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Return for Risk
GBAT vs. BFOC — Risk / Return Rank
GBAT
BFOC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GBAT vs. BFOC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Basic Attention Token Trust (GBAT) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). 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.
| GBAT | BFOC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.02 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | — | — |
| Martin ratioReturn relative to average drawdown | -1.04 | — | — |
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Drawdowns
GBAT vs. BFOC - Drawdown Comparison
The maximum GBAT drawdown since its inception was -98.13%, which is greater than BFOC's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for GBAT and BFOC.
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Drawdown Indicators
| GBAT | BFOC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.13% | -18.41% | -79.72% |
Max Drawdown (1Y)Largest decline over 1 year | -78.53% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -98.13% | — | — |
Current DrawdownCurrent decline from peak | -97.68% | -17.93% | -79.75% |
Average DrawdownAverage peak-to-trough decline | -69.04% | -12.96% | -56.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.29% | — | — |
Volatility
GBAT vs. BFOC - Volatility Comparison
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Volatility by Period
| GBAT | BFOC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.49% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 72.98% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 132.10% | 12.19% | +119.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 169.39% | 12.19% | +157.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 169.39% | 12.19% | +157.20% |
Dividends
GBAT vs. BFOC - Dividend Comparison
Neither GBAT nor BFOC has paid dividends to shareholders.
Frequently Asked Questions
GBAT and BFOC 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.
GBAT and BFOC have nearly identical dividend yields, around 0.00%.
GBAT is categorized as Cryptocurrency, while BFOC is Defined Outcome. They also come from different issuers: Grayscale and First Trust.
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