SMOX vs. BCDF
SMOX (Horizon Small/Mid Cap Core Equity ETF) and BCDF (Horizon Kinetics Blockchain Development ETF) are both exchange-traded funds - SMOX is a Mid Cap Blend Equities fund actively managed by Horizon, while BCDF is a Cryptocurrency fund actively managed by Horizon. Both are actively managed. At a 0.35 correlation, their price movements are largely independent. SMOX charges 0.75%/yr vs 0.85%/yr for BCDF.
Performance
SMOX vs. BCDF - Performance Comparison
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Returns By Period
In the year-to-date period, SMOX achieves a 19.91% return, which is significantly higher than BCDF's -1.60% return.
SMOX
- 1D
- 0.19%
- 1M
- 3.62%
- YTD
- 19.91%
- 6M
- 17.45%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCDF
- 1D
- -1.45%
- 1M
- -11.95%
- YTD
- -1.60%
- 6M
- -4.32%
- 1Y
- 0.69%
- 3Y*
- 13.73%
- 5Y*
- —
- 10Y*
- —
SMOX vs. BCDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMOX Horizon Small/Mid Cap Core Equity ETF | 19.91% | 0.44% |
BCDF Horizon Kinetics Blockchain Development ETF | -1.60% | 1.20% |
Correlation
The correlation between SMOX and BCDF is 0.35, 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 Dec 3, 2025 | 0.35 |
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Return for Risk
SMOX vs. BCDF — Risk / Return Rank
SMOX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BCDF
SMOX vs. BCDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Small/Mid Cap Core Equity ETF (SMOX) 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.
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.
| SMOX | BCDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.02 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.06 | — |
| Martin ratioReturn relative to average drawdown | — | 0.18 | — |
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Drawdowns
SMOX vs. BCDF - Drawdown Comparison
The maximum SMOX drawdown since its inception was -7.76%, smaller than the maximum BCDF drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for SMOX and BCDF.
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Drawdown Indicators
| SMOX | BCDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.76% | -27.70% | +19.94% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.95% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.46% | — |
Current DrawdownCurrent decline from peak | -0.32% | -11.95% | +11.63% |
Average DrawdownAverage peak-to-trough decline | -1.38% | -9.80% | +8.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.95% | — |
Volatility
SMOX vs. BCDF - Volatility Comparison
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Volatility by Period
| SMOX | BCDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.24% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.50% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.45% | 15.19% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.45% | 16.95% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.45% | 16.95% | -1.50% |
SMOX vs. BCDF - Expense Ratio Comparison
SMOX has a 0.75% expense ratio, which is lower than BCDF's 0.85% expense ratio.
Dividends
SMOX vs. BCDF - Dividend Comparison
SMOX's dividend yield for the trailing twelve months is around 0.07%, less than BCDF's 2.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BCDF Horizon Kinetics Blockchain Development ETF | 2.57% | 2.53% | 1.63% | 0.69% | 0.38% |
SMOX Horizon Small/Mid Cap Core Equity ETF | 0.07% | 0.08% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMOX and BCDF have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMOX is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMOX is cheaper with a 0.75% expense ratio, compared with 0.85% for BCDF.
BCDF has the higher dividend yield at 2.57%, compared with 0.07% for SMOX.
SMOX is categorized as Mid Cap Blend Equities, while BCDF is Cryptocurrency. Their fees differ too: 0.75% for SMOX and 0.85% for BCDF.
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