BCDF vs TOKE
Horizon Kinetics Blockchain Development ETF vs Cambria Cannabis ETF
Which is better, BCDF or TOKE?
Each has led over a different period.
TOKE has a lower expense ratio. BCDF led over the full window, TOKE over 1Y.
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 | TOKE |
|---|---|---|
| Expense Ratio | 0.85% | 0.44%Best |
| AUM | $23M | $14M |
| Dividend Yield | 2.37% | 1.06% |
| Holdings | 35 | 24 |
| Volatility (annualized) | 14.6%Best | 33.6% |
| Max Drawdown | -27.7%Best | -49.8% |
| $10,000 over 3.7 years | $13,331Best | $7,066 |
| Fund Family | Horizon Kinetics LLC | Cambria Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Mid Cap Growth |
| Inception | Aug 1, 2022 | Jul 25, 2019 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 180 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. BCDF has data through Oct 14, 2026 and TOKE through Apr 17, 2026.
Volatility and max drawdown, and the $10,000 over 3.7 years row, are measured over the window both funds cover: Aug 2, 2022 to Apr 17, 2026 (3.7 years).
Risk: Volatility and Drawdowns
TOKE has been the more volatile fund, with annualized monthly volatility of 33.6% compared with 14.6% 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 -49.8% for TOKE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.32. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BCDF charges 0.85% per year while TOKE charges 0.44%. On a $10,000 position that is $85 vs $44 annually, a gap of $41 per year that compounds over a long holding period. On income, BCDF currently yields 2.37% against 1.06% for TOKE.
Holdings Overlap
We hold position weights for 32 holdings in BCDF and 16 in TOKE, totalling 91.1% and 69.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 244 days apart, BCDF as of Oct 1, 2026 and TOKE as of Jan 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 32 positions we hold weights for in BCDF and 16 in TOKE, against full books of 35 and 24.
You are not choosing between two funds in isolation.
Whichever of BCDF and TOKE 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 TOKE?
BCDF has an expense ratio of 0.85% while TOKE charges 0.44%. TOKE is the cheaper option, by $41 a year on a $10,000 investment.
Which is riskier, BCDF or TOKE?
TOKE has been the more volatile fund at 33.6% annualized versus 14.6% for BCDF. Worst drawdown: BCDF -27.7% vs TOKE -49.8%.
Should I hold both BCDF and TOKE?
BCDF and TOKE have a monthly-return correlation of 0.32, 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 TOKE?
BCDF yields 2.37% while TOKE yields 1.06%, so BCDF currently pays the higher dividend yield.
Is TOKE better than BCDF?
TOKE has a lower expense ratio. BCDF led over the full window, TOKE over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.