Bitwise COIN Option Income Strategy ETF (ICOI) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with ICOI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to ICOI
ICOI charges 0.98% annually. There are 123 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parametric Equity Plus ETF | 0.10% | 27.28M | Nov 2024 | ICOI vs PEPS | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 292.36M | Mar 2024 | ICOI vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 46.44M | Sep 2024 | ICOI vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 166.08M | Apr 2024 | ICOI vs FYEE | |
| Invesco QQQ Income Advantage ETF | 0.29% | 749.48M | Jul 2024 | ICOI vs QQA |
Best Risk-Adjusted Alternatives to ICOI
ICOI has a PortfoliosLab risk / return rank of 3. There are 128 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 97 | 1.02B | Apr 2025 | ICOI vs CHPY | |
| SoFi Enhanced Yield ETF | 92 | 34.73M | Nov 2023 | ICOI vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 298.09M | Jul 2023 | ICOI vs GOOY | |
| Global X NASDAQ 100 Covered Call ETF | 88 | 8.41B | Dec 2013 | ICOI vs QYLD | |
| YieldMax TSM Option Income Strategy ETF | 88 | 117.86M | Aug 2024 | ICOI vs TSMY |
Top Performing ICOI Alternatives (YTD)
ICOI is at -22.33% YTD. There are 210 ETFs in the Derivative Income category with higher YTD returns, going as high as 363.23%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 363.23% | 14.71M | Oct 2025 | ICOI vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 192.40% | 90.88M | Jul 2025 | ICOI vs AMDW | |
| YieldMax Semiconductor Portfolio Option Income ETF | 85.77% | 1.02B | Apr 2025 | ICOI vs CHPY | |
| Defiance Oil Enhanced Options Income ETF | 62.18% | 62.15M | May 2024 | ICOI vs USOY | |
| YieldMax MRNA Option Income Strategy ETF | 51.59% | 82.87M | Oct 2023 | ICOI vs MRNY |
Lowest Volatility Alternatives to ICOI
ICOI has 49.40% 1-year volatility. There are 210 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Dividend Performers ETF | 0.00% | 20.88M | Dec 2018 | ICOI vs IPDP | |
| Simplify Treasury Option Income ETF | 3.14% | 438.06M | Oct 2022 | ICOI vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.83% | 90.68M | Feb 2025 | ICOI vs HYTI | |
| Main Buywrite ETF | 4.85% | 1.21B | Dec 2015 | ICOI vs BUYW | |
| FT Vest Investment Grade & Target Income ETF | 5.10% | 287.53M | Feb 2025 | ICOI vs LQTI |
Lowest Drawdown Alternatives to ICOI
ICOI has a 1-year max drawdown of -58.10%. There are 133 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -1.31%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -1.31% | 438.06M | Oct 2022 | ICOI vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.68M | Feb 2025 | ICOI vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.21B | Dec 2015 | ICOI vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | ICOI vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | ICOI vs OMAH |
Other ETFs from Bitwise
The 10 most viewed Bitwise ETFs shown here include BITC, AETH, IMST and span 3 categories. AUM among these funds goes as high as $296M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Bitwise Bitcoin Strategy Optimum Roll ETF | Cryptocurrency | 4 | 6.98% | 17.91M | Mar 2023 | ICOI vs BITC | |
| Bitwise Ethereum Strategy ETF | Cryptocurrency | 6 | -9.79% | 9.37M | Sep 2023 | ICOI vs AETH | |
| Bitwise Funds Trust | Derivative Income | 1 | -14.98% | — | Apr 2025 | ICOI vs IMST | |
| Bitwise Ethereum ETF | Cryptocurrency | 5 | -39.45% | 270.25M | Jul 2024 | ICOI vs ETHW | |
| Bitwise Bitcoin And Ether Equal Weight Strategy ET... | Cryptocurrency | 5 | -0.19% | 5.75M | Sep 2023 | ICOI vs BTOP | |
| Bitwise XRP ETF | Cryptocurrency | — | -34.50% | 295.91M | Nov 2025 | ICOI vs XRP | |
| Bitwise Bitcoin Standard Corporations ETF | Blockchain | 5 | -1.56% | 22.23M | Mar 2025 | ICOI vs OWNB | |
| Bitwise Ethereum Option Income Strategy ETF | Derivative Income | — | -33.82% | — | Oct 2025 | ICOI vs IETH | |
| Bitwise MARA Option Income Strategy ETF | Derivative Income | 5 | 30.26% | 5.26M | Apr 2025 | ICOI vs IMRA | |
| Bitwise Chainlink ETF | Cryptocurrency | — | — | 6.68M | Jan 2026 | ICOI vs CLNK |
Often Compared With ICOI
Investors most often compare ICOI with COYY, BLOX, CONY. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare ICOI with Any Fund or Stock
Compare ICOI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair ICOI with funds that move differently
Bitwise COIN Option Income Strategy ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ICOI.
Explore ICOI Diversifiers