BTCI vs. IBIT
BTCI (NEOS Bitcoin High Income ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. BTCI is actively managed, while IBIT is passively managed. Over the past year, BTCI returned -34.52% vs -39.60% for IBIT. With a 0.99 correlation, they move nearly in lockstep. BTCI charges 0.99%/yr vs 0.25%/yr for IBIT.
Performance
BTCI vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, BTCI achieves a -24.80% return, which is significantly higher than IBIT's -27.45% return.
BTCI
- 1D
- -2.67%
- 1M
- -19.78%
- YTD
- -24.80%
- 6M
- -28.14%
- 1Y
- -34.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -2.65%
- 1M
- -22.17%
- YTD
- -27.45%
- 6M
- -31.40%
- 1Y
- -39.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCI vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCI NEOS Bitcoin High Income ETF | -24.80% | -1.09% | 28.24% |
IBIT iShares Bitcoin Trust ETF | -27.45% | -6.41% | 39.42% |
Correlation
The correlation between BTCI and IBIT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2024 | 0.99 |
The correlation between BTCI and IBIT has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
BTCI vs. IBIT — Risk / Return Rank
BTCI
IBIT
BTCI vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Bitcoin High Income ETF (BTCI) and iShares Bitcoin Trust ETF (IBIT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BTCI | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.86 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.80 | +0.03 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.39 | +0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTCI | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | -0.91 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | 0.27 | -0.34 |
Drawdowns
BTCI vs. IBIT - Drawdown Comparison
The maximum BTCI drawdown since its inception was -44.98%, smaller than the maximum IBIT drawdown of -49.47%. Use the drawdown chart below to compare losses from any high point for BTCI and IBIT.
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Drawdown Indicators
| BTCI | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.98% | -49.47% | +4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -44.98% | -49.47% | +4.49% |
Current DrawdownCurrent decline from peak | -44.39% | -49.47% | +5.08% |
Average DrawdownAverage peak-to-trough decline | -15.25% | -16.07% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.20% | 28.61% | -3.41% |
Volatility
BTCI vs. IBIT - Volatility Comparison
The current volatility for NEOS Bitcoin High Income ETF (BTCI) is 8.15%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.14%. This indicates that BTCI experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCI | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 9.14% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 30.49% | 33.89% | -3.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.98% | 43.76% | -4.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.12% | 50.18% | -10.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.12% | 50.18% | -10.06% |
BTCI vs. IBIT - Expense Ratio Comparison
BTCI has a 0.99% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
BTCI vs. IBIT - Dividend Comparison
BTCI's dividend yield for the trailing twelve months is around 44.34%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCI NEOS Bitcoin High Income ETF | 44.34% | 36.46% | 6.76% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, BTCI and IBIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IBIT has higher volatility (9.14%) compared to BTCI (8.15%). In terms of maximum drawdown, BTCI dropped -44.98% vs IBIT's -49.47%.
On 1-year performance, BTCI leads with -34.52% vs -39.60% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, BTCI has been the lower-risk option at 8.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BTCI has performed better with a -34.52% return vs -39.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.99% for BTCI.
BTCI has the higher dividend yield at 44.34%, compared with 0.00% for IBIT.
They also come from different issuers: Neos and iShares. Their fees differ too: 0.99% for BTCI and 0.25% for IBIT.
BTCI currently has the higher Sharpe Ratio (-0.89 vs -0.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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