BLKC
Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF
BLKC is passively-managed, investing in the blockchain and cryptocurrency space through stocks and ETPs or trusts.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
4.1 M
ASSETS UNDER MGMT
61 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 07, 2021 |
| Assets (mns) | $4 |
| Expense ratio | 61 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ISHARES BITCOIN TRUST ETF | 25.2 % |
| GRAYSCALE BITCOIN TRUST | 3.6 % |
| CANAAN INC. SPONSORED ADR CLASS A | 2.4 % |
| MICROSTRATEGY INC-CL A | 1.8 % |
| TESLA MOTORS INC | 1.8 % |
| ROBINHOOD MARKETS, INC. CLASS A | 1.7 % |
| NORTHERN DATA AG | 1.7 % |
| SOFI TECHNOLOGIES INC | 1.7 % |
| BLOCK INC. | 1.5 % |
| COINBASE GLOBAL, INC. CLASS A | 1.5 % |
Constituent Breakdown
| Number of holdings | 56 |
| Herfindahl-Hirschman Index | 697 |
| Wgt avg mkt cap (mns) | $223,006 |
| Large cap (>$10bn) | 63.6% |
| Mid cap ($2-10bn) | 13.5% |
| Small cap (<$2bn) | 22.9% |
| Developed mkts. | 91.8% |
| Emerging mkts. | 8.3% |
Country Exposure
 |
UNITED STATES | 53.7 % |
 |
CHINA | 6.0 % |
 |
GERMANY | 4.0 % |
 |
JAPAN | 2.6 % |
 |
AUSTRALIA | 1.4 % |
 |
IRELAND | 1.2 % |
 |
TAIWAN | 1.2 % |
 |
SOUTH KOREA | 1.2 % |
 |
NORWAY | 1.1 % |
 |
SWITZERLAND | 1.1 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 57.0% | 94.5% | 79.7% | -- | -- | -- | 9.9% | Volatility | 34.2% | 34.9% | 35.1% | 40.5% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 2.07 | 63% |
| MSCI EAFE | 1.66 | 40% |
| MSCI Emg Mkts | 1.30 | 25% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 1.3% |
| Avg. Bid/Ask (% of price) | 0.44% |
| ADV of underlying (mns) | $117,234 |
Technical Indicators
| Recent close | $27.30 |
| 30d moving avg. | $27.98 |
| Annualized volatility | 46.0% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BLKC |
Expenses vs. BLKC |
ALTAR Score™ vs. BLKC |
|---|---|---|---|---|
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 40.0% | 0 bp | -4.1% |
| BLCN | Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 31.5% | +7 bp | +0.4% |
| LEGR | First Trust Indxx Innovative Transaction & Process ETF | 28.7% | +4 bp | +6.1% |
| BLOK | Amplify Transformational Data Sharing ETF | 28.1% | +14 bp | -1.4% |
| EQWL | Invesco S&P 100 Equal Weight ETF | 26.5% | -36 bp | +4.5% |
| IBLC | iShares Blockchain and Tech ETF | 25.7% | -14 bp | -3.8% |
| BKCH | Global X Blockchain ETF | 24.5% | -11 bp | -5.2% |
| BITQ | Bitwise Crypto Industry Innovators ETF | 23.8% | +24 bp | -4.0% |
| MVPS | Amplify Thematic All-Stars ETF | 22.7% | -12 bp | +0.9% |
| GFOF | Grayscale Future of Finance ETF | 22.5% | +9 bp | -2.7% |
Risk and Returns: BLKC vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/20/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BLKC
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
BLKC
2.0%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 374 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.8%. BLKC's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places BLKC in the 32nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BLKCSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| BLKC (61 bp) Percentile rank | 63 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BLKC | 61.0 | 44.4 | 105.4 |
| Peer Avg. | 57.0 | 39.6 | 96.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .