TDOT vs. BCDF

Last updated Jun 24, 2026

TDOT (21Shares Polkadot ETF) and BCDF (Horizon Kinetics Blockchain Development ETF) are both Cryptocurrency funds. TDOT is passively managed, while BCDF is actively managed. At a 0.24 correlation, their price movements are largely independent. TDOT charges 0.30%/yr vs 0.85%/yr for BCDF.

Performance

TDOT vs. BCDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Polkadot ETF (TDOT) and Horizon Kinetics Blockchain Development ETF (BCDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TDOT

• 1D: -4.25%
• 1M: -29.29%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BCDF

• 1D: 0.05%
• 1M: -10.65%
• YTD: -0.15%
• 6M: -1.22%
• 1Y: 2.25%
• 3Y*: 14.29%
• 5Y*: —
• 10Y*: —

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

TDOT vs. BCDF - Yearly Performance Comparison

	2026 (YTD)
TDOT 21Shares Polkadot ETF	-37.69%
BCDF Horizon Kinetics Blockchain Development ETF	-5.35%

Correlation

The correlation between TDOT 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 Mar 6, 2026	0.24

Return for Risk

TDOT vs. BCDF — Risk / Return Rank

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

TDOT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BCDF

BCDF Risk / Return Rank: 11
BCDF Sharpe Ratio Rank: 11
BCDF Sortino Ratio Rank: 10
BCDF Omega Ratio Rank: 10
BCDF Calmar Ratio Rank: 11
BCDF Martin Ratio Rank: 11

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.

TDOT vs. BCDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Polkadot ETF (TDOT) 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.

	TDOT	BCDF	Difference
Sharpe ratio: Return per unit of total volatility	—	0.15	—
Sortino ratio: Return per unit of downside risk	—	0.31	—
Omega ratio: Gain probability vs. loss probability	—	1.04	—
Calmar ratio: Return relative to maximum drawdown	—	0.21	—
Martin ratio: Return relative to average drawdown	—	0.58	—

Drawdowns

TDOT vs. BCDF - Drawdown Comparison

The maximum TDOT drawdown since its inception was -43.45%, which is greater than BCDF's maximum drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for TDOT and BCDF.

Drawdown Indicators

	TDOT	BCDF	Difference
Max Drawdown Largest peak-to-trough decline	-43.45%	-27.70%	-15.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.46%	—
Current Drawdown Current decline from peak	-43.45%	-10.65%	-32.80%
Average Drawdown Average peak-to-trough decline	-21.48%	-9.80%	-11.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.87%	—

Volatility

Volatility by Period

	TDOT	BCDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	64.86%	15.12%	+49.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.86%	16.94%	+47.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.86%	16.94%	+47.92%

TDOT vs. BCDF - Expense Ratio Comparison

TDOT has a 0.30% expense ratio, which is lower than BCDF's 0.85% expense ratio.

Dividends

TDOT vs. BCDF - Dividend Comparison

TDOT's dividend yield for the trailing twelve months is around 0.83%, less than BCDF's 2.53% yield.

Position	TTM	2025	2024	2023	2022
BCDF Horizon Kinetics Blockchain Development ETF	2.53%	2.53%	1.63%	0.69%	0.38%
TDOT 21Shares Polkadot ETF	0.83%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDOT and BCDF in my portfolio?

TDOT 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, TDOT or BCDF?

On fees, TDOT is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TDOT or BCDF?

TDOT is cheaper with a 0.30% expense ratio, compared with 0.85% for BCDF.

Which ETF pays a higher dividend yield, TDOT or BCDF?

BCDF has the higher dividend yield at 2.53%, compared with 0.83% for TDOT.

What is the main difference between TDOT and BCDF?

They also come from different issuers: 21Shares and Horizon. Their fees differ too: 0.30% for TDOT and 0.85% for BCDF.