BCDF vs SPY
BCDF vs SPY
Horizon Kinetics Blockchain Development ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BCDF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $23M | $789.1B | |
| Dividend Yield | 2.56% | 1.01% | |
| Holdings | 39 | 505 | |
| YTD Return | +7.92% | +13.79% | |
| 1Y Return | +6.51% | +23.66% | |
| 3Y Return (annualized) | +15.94% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 15.0% | 15.3% | |
| Max Drawdown | -27.7% | -56.5% | |
| Fund Family | Horizon Kinetics LLC | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 1, 2022 | Jan 22, 1993 |
BCDF vs SPY Performance
Horizon Kinetics Blockchain Development ETF (BCDF) is a ETF from Horizon Kinetics LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BCDF returned +6.51% while SPY returned +23.66%. Year to date, BCDF is up 7.92% versus a gain of 13.79% for SPY.
Over three years, BCDF compounded at +15.94% per year against +21.40% for SPY. Across the full 4-year window we track, SPY has the edge at +8.85% annualized vs +7.67%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -56.5% for SPY. 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BCDF charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, BCDF currently yields 2.56% against 1.01% for SPY.
Holdings Overlap
BCDF and SPY share 0 holdings out of 509 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 SPY?
BCDF has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, BCDF or SPY?
Over the past year BCDF returned +6.51% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), BCDF annualized +7.67% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, BCDF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.0% for BCDF. Worst drawdown: BCDF -27.7% vs SPY -56.5%.
Should I hold both BCDF and SPY?
BCDF and SPY have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BCDF and SPY?
BCDF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, BCDF or SPY?
BCDF yields 2.56% while SPY yields 1.01%, so BCDF currently pays the higher dividend yield.
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