GDOG vs. BCDF
GDOG (Grayscale Dogecoin Trust ETF) and BCDF (Horizon Kinetics Blockchain Development ETF) are both Cryptocurrency funds. GDOG is passively managed, while BCDF is actively managed. At a 0.33 correlation, their price movements are largely independent. GDOG charges 0.35%/yr vs 0.85%/yr for BCDF.
Performance
GDOG vs. BCDF - Performance Comparison
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Returns By Period
In the year-to-date period, GDOG achieves a -21.87% return, which is significantly lower than BCDF's 3.34% return.
GDOG
- 1D
- -2.62%
- 1M
- -17.02%
- YTD
- -21.87%
- 6M
- -39.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCDF
- 1D
- 0.11%
- 1M
- -4.77%
- YTD
- 3.34%
- 6M
- 2.87%
- 1Y
- 6.42%
- 3Y*
- 15.27%
- 5Y*
- —
- 10Y*
- —
GDOG vs. BCDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GDOG Grayscale Dogecoin Trust ETF | -21.87% | -23.70% |
BCDF Horizon Kinetics Blockchain Development ETF | 3.34% | 1.70% |
Correlation
The correlation between GDOG and BCDF is 0.33, 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 Nov 25, 2025 | 0.33 |
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Return for Risk
GDOG vs. BCDF — Risk / Return Rank
GDOG
BCDF
GDOG vs. BCDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Dogecoin Trust ETF (GDOG) 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.
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Sharpe Ratios by Period
| GDOG | BCDF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.86 | 0.39 | -1.25 |
Drawdowns
GDOG vs. BCDF - Drawdown Comparison
The maximum GDOG drawdown since its inception was -42.91%, which is greater than BCDF's maximum drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for GDOG and BCDF.
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Drawdown Indicators
| GDOG | BCDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.91% | -27.70% | -15.21% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.63% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.46% | — |
Current DrawdownCurrent decline from peak | -41.16% | -7.53% | -33.63% |
Average DrawdownAverage peak-to-trough decline | -28.48% | -9.83% | -18.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.42% | — |
Volatility
GDOG vs. BCDF - Volatility Comparison
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Volatility by Period
| GDOG | BCDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.17% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.03% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 73.98% | 14.75% | +59.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.98% | 16.94% | +57.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.98% | 16.94% | +57.04% |
GDOG vs. BCDF - Expense Ratio Comparison
GDOG has a 0.35% expense ratio, which is lower than BCDF's 0.85% expense ratio.
Dividends
GDOG vs. BCDF - Dividend Comparison
GDOG has not paid dividends to shareholders, while BCDF's dividend yield for the trailing twelve months is around 2.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BCDF Horizon Kinetics Blockchain Development ETF | 2.44% | 2.53% | 1.63% | 0.69% | 0.38% |
GDOG Grayscale Dogecoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDOG and BCDF have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GDOG is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GDOG is cheaper with a 0.35% expense ratio, compared with 0.85% for BCDF.
BCDF has the higher dividend yield at 2.44%, compared with 0.00% for GDOG.
They also come from different issuers: Grayscale and Horizon. Their fees differ too: 0.35% for GDOG and 0.85% for BCDF.
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