STCE vs. BKCH

Last updated Jun 23, 2026

STCE (Schwab Crypto Thematic ETF) and BKCH (Global X Blockchain ETF) are both Blockchain funds - STCE tracks the Schwab Crypto Thematic Index while BKCH tracks the Solactive Blockchain Index. Both are passively managed. Over the past 3 years, STCE returned 55.96%/yr vs 49.14%/yr for BKCH. With a 0.96 correlation, they move nearly in lockstep. STCE charges 0.30%/yr vs 0.50%/yr for BKCH.

Performance

STCE vs. BKCH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Crypto Thematic ETF (STCE) and Global X Blockchain ETF (BKCH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STCE achieves a 31.69% return, which is significantly lower than BKCH's 35.50% return.

STCE

• 1D: 0.01%
• 1M: 5.62%
• YTD: 31.69%
• 6M: 18.74%
• 1Y: 82.14%
• 3Y*: 55.96%
• 5Y*: —
• 10Y*: —

BKCH

• 1D: -0.96%
• 1M: 0.34%
• YTD: 35.50%
• 6M: 21.86%
• 1Y: 92.11%
• 3Y*: 49.14%
• 5Y*: —
• 10Y*: —

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

STCE vs. BKCH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
STCE Schwab Crypto Thematic ETF	31.69%	36.12%	41.76%	108.65%	-40.98%
BKCH Global X Blockchain ETF	35.50%	27.14%	18.81%	267.06%	-57.92%

Correlation

The correlation between STCE and BKCH is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Aug 4, 2022	0.96

The correlation between STCE and BKCH has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

STCE vs. BKCH — Risk / Return Rank

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

STCE

STCE Risk / Return Rank: 33
STCE Sharpe Ratio Rank: 38
STCE Sortino Ratio Rank: 38
STCE Omega Ratio Rank: 35
STCE Calmar Ratio Rank: 31
STCE Martin Ratio Rank: 22

BKCH

BKCH Risk / Return Rank: 34
BKCH Sharpe Ratio Rank: 38
BKCH Sortino Ratio Rank: 38
BKCH Omega Ratio Rank: 35
BKCH Calmar Ratio Rank: 34
BKCH Martin Ratio Rank: 24

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.

STCE vs. BKCH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Crypto Thematic ETF (STCE) and Global X Blockchain ETF (BKCH). 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.

	STCE	BKCH	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.32	+0.02
Sortino ratio: Return per unit of downside risk	1.92	1.93	-0.01
Omega ratio: Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio: Return relative to maximum drawdown	1.53	1.65	-0.12
Martin ratio: Return relative to average drawdown	2.70	2.99	-0.29

STCE vs. BKCH - Sharpe Ratio Comparison

The current STCE Sharpe Ratio is 1.33, which is comparable to the BKCH Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of STCE and BKCH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

STCE vs. BKCH - Drawdown Comparison

The maximum STCE drawdown since its inception was -54.11%, smaller than the maximum BKCH drawdown of -91.80%. Use the drawdown chart below to compare losses from any high point for STCE and BKCH.

Drawdown Indicators

	STCE	BKCH	Difference
Max Drawdown Largest peak-to-trough decline	-54.11%	-91.80%	+37.69%
Max Drawdown (1Y) Largest decline over 1 year	-54.11%	-56.28%	+2.17%
Max Drawdown (3Y) Largest decline over 3 years	-54.11%	-57.99%	+3.88%
Current Drawdown Current decline from peak	-25.81%	-35.04%	+9.23%
Average Drawdown Average peak-to-trough decline	-22.05%	-61.87%	+39.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.51%	30.90%	-0.39%

Volatility

STCE vs. BKCH - Volatility Comparison

The current volatility for Schwab Crypto Thematic ETF (STCE) is 16.80%, while Global X Blockchain ETF (BKCH) has a volatility of 18.71%. This indicates that STCE experiences smaller price fluctuations and is considered to be less risky than BKCH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STCE	BKCH	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.80%	18.71%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	42.89%	51.23%	-8.34%
Volatility (1Y) Calculated over the trailing 1-year period	62.09%	70.48%	-8.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.03%	75.43%	-19.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.03%	75.43%	-19.40%

STCE vs. BKCH - Expense Ratio Comparison

STCE has a 0.30% expense ratio, which is lower than BKCH's 0.50% expense ratio.

Dividends

STCE vs. BKCH - Dividend Comparison

STCE's dividend yield for the trailing twelve months is around 1.49%, which matches BKCH's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021
BKCH Global X Blockchain ETF	1.48%	2.00%	7.61%	2.33%	1.29%	4.28%
STCE Schwab Crypto Thematic ETF	1.49%	1.96%	0.64%	0.31%	1.46%	0.00%

Frequently Asked Questions

Can I hold both STCE and BKCH in my portfolio?

With a correlation of 0.98, STCE and BKCH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, STCE or BKCH?

BKCH has higher volatility (18.71%) compared to STCE (16.80%). In terms of maximum drawdown, STCE dropped -54.11% vs BKCH's -91.80%.

Which ETF is better, STCE or BKCH?

On 3-year performance, STCE leads with 55.96% vs 49.14% for BKCH. On fees, STCE is cheaper at 0.30% per year. On volatility, STCE has been the lower-risk option at 16.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STCE or BKCH?

Over the 3-year period, STCE has performed better with a 55.96% return vs 49.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STCE or BKCH?

STCE is cheaper with a 0.30% expense ratio, compared with 0.50% for BKCH.

Which ETF pays a higher dividend yield, STCE or BKCH?

STCE and BKCH have nearly identical dividend yields, around 1.49%.

What is the main difference between STCE and BKCH?

STCE tracks Schwab Crypto Thematic Index, while BKCH tracks Solactive Blockchain Index. They also come from different issuers: Charles Schwab and Global X. Their fees differ too: 0.30% for STCE and 0.50% for BKCH.

Which has better risk-adjusted returns?

STCE currently has the higher Sharpe Ratio (1.33 vs 1.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.