BCDF vs PHO
Horizon Kinetics Blockchain Development ETF vs Invesco Water Resources ETF
Which is better, BCDF or PHO?
Each has led over a different period.
PHO has a lower expense ratio. BCDF led over 1Y and 3Y, PHO over the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BCDF | PHO |
|---|---|---|
| Expense Ratio | 0.85% | 0.59%Best |
| AUM | $23M | $1.9B |
| Dividend Yield | 2.37% | 0.55% |
| Holdings | 35 | 87 |
| YTD Return | +5.08%Best | -1.95% |
| 1Y Return | +2.09%Best | -4.82% |
| 3Y Return (annualized) | +15.97%Best | +9.76% |
| 5Y Return (annualized) | - | +4.86% |
| Volatility (annualized) | 15.3%Best | 16.2% |
| Max Drawdown | -27.7% | -19.2%Best |
| $10,000 over 4.2 years | $13,100 | $13,730Best |
| Fund Family | Horizon Kinetics LLC | Invesco (US) |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Mid Cap Growth |
| Inception | Aug 1, 2022 | Dec 6, 2005 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.2 years row, are measured over the window both funds cover: Aug 2, 2022 to Oct 14, 2026 (4.2 years).
BCDF vs PHO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.2 years both funds cover.
BCDF vs PHO Performance
Horizon Kinetics Blockchain Development ETF (BCDF) is an ETF from Horizon Kinetics LLC and Invesco Water Resources ETF (PHO) is an ETF from Invesco (US). Over the past year BCDF returned +2.09% while PHO returned -4.82%. Year to date, BCDF is up 5.08% versus a loss of 1.95% for PHO.
Over three years, BCDF compounded at +15.97% per year against +9.76% for PHO. Across the full 4-year window we track, PHO has the edge at +7.84% annualized vs +6.64%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PHO has been the more volatile fund, with annualized monthly volatility of 16.2% compared with 15.3% 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 -19.2% for PHO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BCDF charges 0.85% per year while PHO charges 0.59%. On a $10,000 position that is $85 vs $59 annually, a gap of $26 per year that compounds over a long holding period. On income, BCDF currently yields 2.37% against 0.55% for PHO.
Holdings Overlap
We hold position weights for 32 holdings in BCDF and 41 in PHO, totalling 91.1% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 32 positions we hold weights for in BCDF and 41 in PHO, against full books of 35 and 87.
You are not choosing between two funds in isolation.
Whichever of BCDF and PHO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BCDF or PHO?
BCDF has an expense ratio of 0.85% while PHO charges 0.59%. PHO is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, BCDF or PHO?
Over the past year BCDF returned +2.09% vs -4.82% for PHO, so BCDF leads on 1-year performance. Over the longest common window we track (4 years), BCDF annualized +6.64% vs +7.84% for PHO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BCDF or PHO?
PHO has been the more volatile fund at 16.2% annualized versus 15.3% for BCDF. Worst drawdown: BCDF -27.7% vs PHO -19.2%.
Should I hold both BCDF and PHO?
BCDF and PHO have a monthly-return correlation of 0.67, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BCDF or PHO?
BCDF yields 2.37% while PHO yields 0.55%, so BCDF currently pays the higher dividend yield.
Is PHO better than BCDF?
PHO has a lower expense ratio. BCDF led over 1Y and 3Y, PHO over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.