HZEN vs. BFOC
HZEN (Grayscale Horizen Trust) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - HZEN 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 0.48 correlation, their price movements are largely independent.
Performance
HZEN vs. BFOC - Performance Comparison
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Returns By Period
In the year-to-date period, HZEN achieves a -35.16% return, which is significantly lower than BFOC's -7.09% return.
HZEN
- 1D
- 7.64%
- 1M
- -14.57%
- YTD
- -35.16%
- 6M
- -42.74%
- 1Y
- -6.95%
- 3Y*
- -15.44%
- 5Y*
- —
- 10Y*
- —
BFOC
- 1D
- 0.07%
- 1M
- -0.30%
- YTD
- -7.09%
- 6M
- -7.06%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HZEN vs. BFOC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HZEN Grayscale Horizen Trust | -35.16% | 5.06% |
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October | -7.09% | -9.75% |
Correlation
The correlation between HZEN and BFOC is 0.48, 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 | 0.48 |
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Return for Risk
HZEN vs. BFOC — Risk / Return Rank
HZEN
BFOC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HZEN vs. BFOC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Horizen Trust (HZEN) 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.
| HZEN | BFOC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.12 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | — | — |
| Martin ratioReturn relative to average drawdown | -0.12 | — | — |
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Drawdowns
HZEN vs. BFOC - Drawdown Comparison
The maximum HZEN drawdown since its inception was -98.73%, which is greater than BFOC's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for HZEN and BFOC.
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Drawdown Indicators
| HZEN | BFOC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.73% | -18.41% | -80.32% |
Max Drawdown (1Y)Largest decline over 1 year | -81.69% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -94.24% | — | — |
Current DrawdownCurrent decline from peak | -98.21% | -17.93% | -80.28% |
Average DrawdownAverage peak-to-trough decline | -91.97% | -12.96% | -79.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.39% | — | — |
Volatility
HZEN vs. BFOC - Volatility Comparison
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Volatility by Period
| HZEN | BFOC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 37.94% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 78.48% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 139.07% | 12.19% | +126.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 150.03% | 12.19% | +137.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 150.03% | 12.19% | +137.84% |
Dividends
HZEN vs. BFOC - Dividend Comparison
Neither HZEN nor BFOC has paid dividends to shareholders.
Frequently Asked Questions
HZEN and BFOC have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HZEN and BFOC have nearly identical dividend yields, around 0.00%.
HZEN is categorized as Cryptocurrency, while BFOC is Defined Outcome. They also come from different issuers: Grayscale and First Trust.
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