SOLX.TO vs. BCDF

Last updated Jun 4, 2026

SOLX.TO (CI Galaxy Solana ETF) and BCDF (Horizon Kinetics Blockchain Development ETF) are both Cryptocurrency funds. At a 0.24 correlation, their price movements are largely independent. SOLX.TO charges 1.00%/yr vs 0.85%/yr for BCDF.

Performance

SOLX.TO vs. BCDF - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Galaxy Solana ETF (SOLX.TO) and Horizon Kinetics Blockchain Development ETF (BCDF). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SOLX.TO is traded in CAD, while BCDF is traded in USD. To make them comparable, the BCDF values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SOLX.TO achieves a -39.87% return, which is significantly lower than BCDF's 4.54% return.

SOLX.TO

• 1D: -2.37%
• 1M: -9.51%
• YTD: -39.87%
• 6M: -49.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BCDF

• 1D: 0.25%
• 1M: -2.80%
• YTD: 4.54%
• 6M: 3.62%
• 1Y: 7.63%
• 3Y*: 16.31%
• 5Y*: —
• 10Y*: —

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

SOLX.TO vs. BCDF - Yearly Performance Comparison

	2026 (YTD)	2025
SOLX.TO CI Galaxy Solana ETF	-39.87%	-40.28%
BCDF Horizon Kinetics Blockchain Development ETF	4.54%	-0.19%

Correlation

The correlation between SOLX.TO and BCDF is 0.24, 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 Sep 3, 2025	0.24

Return for Risk

SOLX.TO 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: 16
BCDF Sharpe Ratio Rank: 15
BCDF Sortino Ratio Rank: 15
BCDF Omega Ratio Rank: 15
BCDF Calmar Ratio Rank: 20
BCDF Martin Ratio Rank: 18

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.

SOLX.TO vs. BCDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Galaxy Solana ETF (SOLX.TO) 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

	SOLX.TO	BCDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.02	0.59	-1.61

Drawdowns

SOLX.TO vs. BCDF - Drawdown Comparison

The maximum SOLX.TO drawdown since its inception was -70.44%, which is greater than BCDF's maximum drawdown of -23.62%. Use the drawdown chart below to compare losses from any high point for SOLX.TO and BCDF.

Drawdown Indicators

	SOLX.TO	BCDF	Difference
Max Drawdown Largest peak-to-trough decline	-70.44%	-23.62%	-46.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.50%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.86%	—
Current Drawdown Current decline from peak	-70.44%	-7.09%	-63.35%
Average Drawdown Average peak-to-trough decline	-47.74%	-7.70%	-40.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.56%	—

Volatility

Volatility by Period

	SOLX.TO	BCDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	73.25%	14.51%	+58.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.25%	14.92%	+58.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.25%	14.92%	+58.33%

SOLX.TO vs. BCDF - Expense Ratio Comparison

SOLX.TO has a 1.00% expense ratio, which is higher than BCDF's 0.85% expense ratio.

Dividends

SOLX.TO vs. BCDF - Dividend Comparison

SOLX.TO has not paid dividends to shareholders, while BCDF's dividend yield for the trailing twelve months is around 2.45%.

Position	TTM	2025	2024	2023	2022
BCDF Horizon Kinetics Blockchain Development ETF	2.45%	2.53%	1.63%	0.69%	0.38%
SOLX.TO CI Galaxy Solana ETF	0.81%	0.49%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOLX.TO and BCDF in my portfolio?

SOLX.TO and BCDF have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SOLX.TO or BCDF?

On fees, BCDF is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SOLX.TO or BCDF?

BCDF is cheaper with a 0.85% expense ratio, compared with 1.00% for SOLX.TO.

What is the main difference between SOLX.TO and BCDF?

They also come from different issuers: CI and Horizon. Their fees differ too: 1.00% for SOLX.TO and 0.85% for BCDF.