NEHI vs. BCDF

Last updated Apr 2, 2026

Compare and contrast key facts about NEOS Ethereum High Income ETF (NEHI) and Horizon Kinetics Blockchain Development ETF (BCDF).

NEHI and BCDF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NEHI is an actively managed fund by Neos. It was launched on Dec 2, 2025. BCDF is an actively managed fund by Horizon. It was launched on Aug 1, 2022.

Performance

NEHI vs. BCDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Ethereum High Income ETF (NEHI) and Horizon Kinetics Blockchain Development ETF (BCDF). The values are adjusted to include any dividend payments, if applicable.

NEHI vs. BCDF - Yearly Performance Comparison

	2026 (YTD)	2025
NEHI NEOS Ethereum High Income ETF	-26.13%	-3.02%
BCDF Horizon Kinetics Blockchain Development ETF	1.59%	0.77%

Returns By Period

In the year-to-date period, NEHI achieves a -26.13% return, which is significantly lower than BCDF's 1.59% return.

NEHI

• 1D: 1.12%
• 1M: 4.55%
• YTD: -26.13%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BCDF

• 1D: -0.13%
• 1M: -4.59%
• YTD: 1.59%
• 6M: -0.21%
• 1Y: 12.57%
• 3Y*: 15.55%
• 5Y*: —
• 10Y*: —

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

NEHI vs. BCDF - Expense Ratio Comparison

NEHI has a 0.98% expense ratio, which is higher than BCDF's 0.85% expense ratio.

NEHI

NEOS Ethereum High Income ETF

BCDF

Horizon Kinetics Blockchain Development ETF

Return for Risk

NEHI vs. BCDF — Risk / Return Rank

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

BCDF

BCDF Risk / Return Rank: 39
BCDF Sharpe Ratio Rank: 37
BCDF Sortino Ratio Rank: 37
BCDF Omega Ratio Rank: 33
BCDF Calmar Ratio Rank: 51
BCDF Martin Ratio Rank: 37

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.

NEHI vs. BCDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Ethereum High Income ETF (NEHI) 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.

Sharpe Ratios by Period

	NEHI	BCDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.98	0.38	-1.36

Correlation

The correlation between NEHI and BCDF is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

NEHI vs. BCDF - Dividend Comparison

NEHI's dividend yield for the trailing twelve months is around 14.42%, more than BCDF's 2.49% yield.

	TTM	2025	2024	2023	2022
NEHI NEOS Ethereum High Income ETF	14.42%	2.87%	0.00%	0.00%	0.00%
BCDF Horizon Kinetics Blockchain Development ETF	2.49%	2.53%	1.63%	0.69%	0.38%

Drawdowns

NEHI vs. BCDF - Drawdown Comparison

The maximum NEHI drawdown since its inception was -42.50%, which is greater than BCDF's maximum drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for NEHI and BCDF.

Drawdown Indicators

	NEHI	BCDF	Difference
Max Drawdown Largest peak-to-trough decline	-42.50%	-27.70%	-14.80%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.84%	—
Current Drawdown Current decline from peak	-33.93%	-5.21%	-28.72%
Average Drawdown Average peak-to-trough decline	-22.04%	-10.22%	-11.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.45%	—

Volatility

Volatility by Period

	NEHI	BCDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	66.41%	16.80%	+49.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.41%	17.05%	+49.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.41%	17.05%	+49.36%