BCDF vs QQQ
Horizon Kinetics Blockchain Development ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | BCDF | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.18% | |
| AUM | $23M | $455.8B | |
| Dividend Yield | 2.56% | 0.41% | |
| Holdings | 39 | 108 | |
| YTD Return | +9.09% | +17.85% | |
| 1Y Return | +7.08% | +26.45% | |
| 3Y Return (annualized) | +16.76% | +26.07% | |
| 5Y Return (annualized) | - | +15.16% | |
| Volatility (annualized) | 15.0% | 30.6% | |
| Max Drawdown | -27.7% | -83.0% | |
| Fund Family | Horizon Kinetics LLC | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Aug 1, 2022 | Mar 10, 1999 |
BCDF vs QQQ Performance
Horizon Kinetics Blockchain Development ETF (BCDF) is a ETF from Horizon Kinetics LLC and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year BCDF returned +7.08% while QQQ returned +26.45%. Year to date, BCDF is up 9.09% versus a gain of 17.85% for QQQ.
Over three years, BCDF compounded at +16.76% per year against +26.07% for QQQ. Across the full 4-year window we track, QQQ has the edge at +13.09% annualized vs +7.95%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 15.0% for BCDF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -27.7% for BCDF and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BCDF charges 0.85% per year while QQQ charges 0.18%. On a $10,000 position that is $85 vs $18 annually, a gap of $67 per year that compounds over a long holding period. On income, BCDF currently yields 2.56% against 0.41% for QQQ.
Holdings Overlap
BCDF and QQQ share 0 holdings out of 109 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BCDF or QQQ?
BCDF has an expense ratio of 0.85% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $67 per year of difference.
Which performed better, BCDF or QQQ?
Over the past year BCDF returned +7.08% vs +26.45% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (4 years), BCDF annualized +7.95% vs +13.09% for QQQ. Past performance does not guarantee future results.
Which is riskier, BCDF or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 15.0% for BCDF. Worst drawdown: BCDF -27.7% vs QQQ -83.0%.
Should I hold both BCDF and QQQ?
BCDF and QQQ have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BCDF and QQQ?
BCDF and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 109 unique securities.
Which pays a higher dividend, BCDF or QQQ?
BCDF yields 2.56% while QQQ yields 0.41%, so BCDF currently pays the higher dividend yield.
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