LTCN vs. BCDF
Compare and contrast key facts about Grayscale Litecoin Trust (LTCN) and Horizon Kinetics Blockchain Development ETF (BCDF).
LTCN and BCDF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LTCN is a passively managed fund by Grayscale that tracks the performance of the CoinDesk Litecoin Price Index. It was launched on Aug 18, 2020. BCDF is an actively managed fund by Horizon. It was launched on Aug 1, 2022.
Performance
LTCN vs. BCDF - Performance Comparison
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LTCN vs. BCDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LTCN Grayscale Litecoin Trust | -30.08% | -54.37% | -18.79% | 650.00% | -42.78% |
BCDF Horizon Kinetics Blockchain Development ETF | 1.72% | 11.63% | 14.87% | 24.99% | -22.71% |
Returns By Period
In the year-to-date period, LTCN achieves a -30.08% return, which is significantly lower than BCDF's 1.72% return.
LTCN
- 1D
- 0.99%
- 1M
- -0.71%
- YTD
- -30.08%
- 6M
- -53.58%
- 1Y
- -37.99%
- 3Y*
- 0.25%
- 5Y*
- -48.71%
- 10Y*
- —
BCDF
- 1D
- 2.24%
- 1M
- -3.88%
- YTD
- 1.72%
- 6M
- -0.09%
- 1Y
- 13.04%
- 3Y*
- 15.60%
- 5Y*
- —
- 10Y*
- —
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LTCN vs. BCDF - Expense Ratio Comparison
LTCN has a 2.50% expense ratio, which is higher than BCDF's 0.85% expense ratio.
Return for Risk
LTCN vs. BCDF — Risk / Return Rank
LTCN
BCDF
LTCN vs. BCDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) 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.
| LTCN | BCDF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.51 | 0.78 | -1.29 |
Sortino ratioReturn per unit of downside risk | -0.39 | 1.19 | -1.58 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.15 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | -0.67 | 1.40 | -2.07 |
Martin ratioReturn relative to average drawdown | -1.25 | 3.61 | -4.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LTCN | BCDF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.51 | 0.78 | -1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 0.38 | -0.57 |
Correlation
The correlation between LTCN and BCDF is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
LTCN vs. BCDF - Dividend Comparison
LTCN has not paid dividends to shareholders, while BCDF's dividend yield for the trailing twelve months is around 2.48%.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LTCN Grayscale Litecoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BCDF Horizon Kinetics Blockchain Development ETF | 2.48% | 2.53% | 1.63% | 0.69% | 0.38% |
Drawdowns
LTCN vs. BCDF - Drawdown Comparison
The maximum LTCN drawdown since its inception was -99.58%, which is greater than BCDF's maximum drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for LTCN and BCDF.
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Drawdown Indicators
| LTCN | BCDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.58% | -27.70% | -71.88% |
Max Drawdown (1Y)Largest decline over 1 year | -65.17% | -8.84% | -56.33% |
Max Drawdown (5Y)Largest decline over 5 years | -99.53% | — | — |
Current DrawdownCurrent decline from peak | -99.18% | -5.09% | -94.09% |
Average DrawdownAverage peak-to-trough decline | -89.31% | -10.23% | -79.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.69% | 3.44% | +31.25% |
Volatility
LTCN vs. BCDF - Volatility Comparison
Grayscale Litecoin Trust (LTCN) has a higher volatility of 11.52% compared to Horizon Kinetics Blockchain Development ETF (BCDF) at 5.22%. This indicates that LTCN's price experiences larger fluctuations and is considered to be riskier than BCDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTCN | BCDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.52% | 5.22% | +6.30% |
Volatility (6M)Calculated over the trailing 6-month period | 54.46% | 11.75% | +42.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.66% | 16.82% | +58.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.23% | 17.06% | +96.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 143.44% | 17.06% | +126.38% |