GFOF vs. BPAY

Last updated Jul 16, 2026

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

Performance

GFOF vs. BPAY - Performance Comparison

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

Returns By Period

GFOF

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

BPAY

• 1D: 1.51%
• 1M: 9.80%
• 6M: -1.02%
• YTD: 0.02%
• 1Y: -10.02%
• 3Y*: 10.93%
• 5Y*: —
• 10Y*: —

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

GFOF vs. BPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	60.08%	145.49%	-51.38%
BPAY BlackRock Future Financial and Technology ETF	0.02%	8.54%	17.28%	13.19%	-16.32%

Correlation

The correlation between GFOF and BPAY 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	0.32
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022	0.43

The correlation between GFOF and BPAY shifts across timeframes, from 0.32 (3 years) to 0.43 (all time), reflecting how their relationship changes across market environments.

GFOF vs. BPAY - Sectors Allocation Comparison

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

Return for Risk

GFOF vs. BPAY — Risk / Return Rank

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

GFOF

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

BPAY

BPAY Risk / Return Rank: 6
BPAY Sharpe Ratio Rank: 6
BPAY Sortino Ratio Rank: 6
BPAY Omega Ratio Rank: 6
BPAY Calmar Ratio Rank: 7
BPAY Martin Ratio Rank: 7

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.

GFOF vs. BPAY - Risk-Adjusted Trends Comparison

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

	GFOF	BPAY	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.38	—
Sortino ratio: Return per unit of downside risk	—	-0.37	—
Omega ratio: Gain probability vs. loss probability	—	0.96	—
Calmar ratio: Return relative to maximum drawdown	—	-0.30	—
Martin ratio: Return relative to average drawdown	—	-0.54	—

Drawdowns

Drawdown Indicators

	GFOF	BPAY	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	—	-15.51%	—
Average Drawdown Average peak-to-trough decline	—	-10.84%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	18.45%	—

Volatility

Volatility by Period

	GFOF	BPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.14%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	24.50%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	24.50%	—

GFOF vs. BPAY - Expense Ratio Comparison

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

Dividends

GFOF vs. BPAY - Dividend Comparison

GFOF has not paid dividends to shareholders, while BPAY's dividend yield for the trailing twelve months is around 6.78%.

Position	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	6.78%	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 GFOF and BPAY in my portfolio?

GFOF and BPAY 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, GFOF or BPAY?

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, GFOF or BPAY?

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

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

BPAY has the higher dividend yield at 6.78%, compared with 0.00% for GFOF.

What is the main difference between GFOF and BPAY?

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