BCDF vs TMNL

Comparison between HORIZON KINETICS BLOCKCHAIN DEVELOPMENT ETF (BCDF, ETF) and T. ROWE PRICE LONG MUNICIPAL INCOME ETF (TMNL, ETF).

BCDF vs TMNL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BCDF(ETF)	TMNL(ETF)
Net Assets	$23M	$23M
Expense Ratio	0.85%	0.26%
Max Drawdown	27.97%	3.18%
Sharpe Ratio	0.36	0.27
5Y Beta	0.57	0.13
P/E Ratio	32.42	N/A
Debt to Equity	55.68%	N/A
P/S Ratio	1.02	N/A
P/B Ratio	3.38	N/A

Net Assets

BCDF

$23M

Winner

TMNL

$23M

Expense Ratio

BCDF

0.85%

Winner

TMNL

0.26%

Max Drawdown

BCDF

27.97%

Winner

TMNL

3.18%

Sharpe Ratio

Winner

BCDF

0.36

TMNL

0.27

5Y Beta

BCDF

0.57

Winner

TMNL

0.13

P/E Ratio

BCDF

32.42

TMNL

N/A

Debt to Equity

BCDF

55.68%

TMNL

N/A

P/S Ratio

BCDF

1.02

TMNL

N/A

P/B Ratio

BCDF

3.38

TMNL

N/A

BCDF vs TMNL - Historical Returns

Returns include dividend reinvestment.

Period	BCDF	TMNL
1 month	-3.52%	+0.73%
3 months	+2.32%	+1.60%
6 months	+5.30%	+2.75%
1 year	+7.39%	N/A
Max(CAGR)	+6.98%	+4.89%

BCDF

-3.52%

Winner

TMNL

+0.73%

Winner

BCDF

+2.32%

TMNL

+1.60%

Winner

BCDF

+5.30%

TMNL

+2.75%

BCDF

+7.39%

TMNL

N/A

Max(CAGR)

Winner

BCDF

+6.98%

TMNL

+4.89%

BCDF vs TMNL - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	BCDF	TMNL
2026	+4.13%	+2.28%
2025	+11.23%	+0.34%
2024	+16.57%	N/A
2023	+25.31%	N/A
2022	-22.71%	N/A

BCDF vs TMNL Drawdown Comparison

The maximum drawdown for BCDF was -27.71%, occurring on Mar 15, 2023. Recovery took 508 trading sessions.

The maximum drawdown for TMNL was -2.94%, occurring on Mar 24, 2026. Recovery took 65 trading sessions.

The current BCDF drawdown is -6.22%. The current TMNL drawdown is -0.18%.

Rank	BCDF	TMNL
#1	-27.71% Aug 12, 2022 - Aug 21, 2024	-2.94% Feb 26, 2026 - Jun 1, 2026
#2	-13.47% Nov 22, 2024 - May 1, 2025	-0.56% Nov 26, 2025 - Jan 5, 2026
#3	-9.24% May 22, 2026 - Jun 5, 2026	-0.54% Jan 14, 2026 - Jan 30, 2026
#4	-7.51% Jan 16, 2026 - Apr 16, 2026	-0.44% Jun 4, 2026 - Jun 10, 2026
#5	-7.25% Jul 24, 2025 - Jan 15, 2026	-0.25% Jan 9, 2026 - Jan 14, 2026
#6	-4.26% Nov 11, 2024 - Nov 22, 2024	-0.22% Feb 10, 2026 - Feb 12, 2026
#7	-2.85% May 19, 2025 - Jun 30, 2025	-0.20% Jun 2, 2026 - Jun 4, 2026
#8	-2.80% Oct 28, 2024 - Nov 7, 2024	-0.16% Jan 7, 2026 - Jan 9, 2026
#9	-2.47% Aug 27, 2024 - Sep 16, 2024	-0.15% Feb 5, 2026 - Feb 9, 2026
#10	-1.85% Jul 3, 2025 - Jul 17, 2025	-0.08% Feb 2, 2026 - Feb 5, 2026
#11	-1.81% Oct 18, 2024 - Oct 28, 2024	-0.08% Feb 24, 2026 - Feb 26, 2026
#12	-1.70% Aug 8, 2022 - Aug 10, 2022	-0.05% Nov 20, 2025 - Nov 24, 2025
#13	-1.63% Oct 4, 2024 - Oct 14, 2024	-0.03% Feb 17, 2026 - Feb 19, 2026
#14	-1.46% Apr 16, 2026 - May 1, 2026	-0.01% Feb 19, 2026 - Feb 24, 2026
#15	-1.06% May 9, 2025 - May 15, 2025	N/A