TETH vs. BCDF
TETH (21Shares Ethereum ETF) and BCDF (Horizon Kinetics Blockchain Development ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, TETH returned -32.60% vs -1.52% for BCDF. At a 0.42 correlation, their price movements are largely independent.
Performance
TETH vs. BCDF - Performance Comparison
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Returns By Period
In the year-to-date period, TETH achieves a -45.15% return, which is significantly lower than BCDF's -2.63% return.
TETH
- 1D
- 3.43%
- 1M
- -19.29%
- YTD
- -45.15%
- 6M
- -44.28%
- 1Y
- -32.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCDF
- 1D
- -0.25%
- 1M
- -8.73%
- YTD
- -2.63%
- 6M
- -3.96%
- 1Y
- -1.52%
- 3Y*
- 12.46%
- 5Y*
- —
- 10Y*
- —
TETH vs. BCDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TETH 21Shares Ethereum ETF | -45.15% | -11.20% | -5.86% |
BCDF Horizon Kinetics Blockchain Development ETF | -2.63% | 11.63% | 9.50% |
Correlation
The correlation between TETH and BCDF is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.42 |
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Return for Risk
TETH vs. BCDF — Risk / Return Rank
TETH
BCDF
TETH vs. BCDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum ETF (TETH) 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.
| TETH | BCDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.00 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.11 | -0.37 |
| Martin ratioReturn relative to average drawdown | -0.79 | -0.36 | -0.43 |
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Drawdowns
TETH vs. BCDF - Drawdown Comparison
The maximum TETH drawdown since its inception was -67.74%, which is greater than BCDF's maximum drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for TETH and BCDF.
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Drawdown Indicators
| TETH | BCDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.74% | -27.70% | -40.04% |
Max Drawdown (1Y)Largest decline over 1 year | -67.74% | -14.02% | -53.72% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.02% | — |
Current DrawdownCurrent decline from peak | -66.33% | -12.88% | -53.45% |
Average DrawdownAverage peak-to-trough decline | -34.03% | -9.81% | -24.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.19% | 4.20% | +36.99% |
Volatility
TETH vs. BCDF - Volatility Comparison
21Shares Ethereum ETF (TETH) has a higher volatility of 20.46% compared to Horizon Kinetics Blockchain Development ETF (BCDF) at 5.44%. This indicates that TETH's price experiences larger fluctuations and is considered to be riskier than BCDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TETH | BCDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.46% | 5.44% | +15.02% |
Volatility (6M)Calculated over the trailing 6-month period | 46.69% | 11.65% | +35.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.15% | 15.44% | +53.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.18% | 16.99% | +55.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.18% | 16.99% | +55.19% |
Dividends
TETH vs. BCDF - Dividend Comparison
TETH's dividend yield for the trailing twelve months is around 0.39%, less than BCDF's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BCDF Horizon Kinetics Blockchain Development ETF | 2.59% | 2.53% | 1.63% | 0.69% | 0.38% |
TETH 21Shares Ethereum ETF | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TETH and BCDF have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TETH has higher volatility (20.46%) compared to BCDF (5.44%). In terms of maximum drawdown, TETH dropped -67.74% vs BCDF's -27.70%.
On 1-year performance, BCDF leads with -1.52% vs -32.60% for TETH. On volatility, BCDF has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BCDF has performed better with a -1.52% return vs -32.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCDF has the higher dividend yield at 2.59%, compared with 0.39% for TETH.
They also come from different issuers: 21Shares and Horizon.
BCDF currently has the higher Sharpe Ratio (-0.10 vs -0.47), 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.
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