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 139 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% | 29.28M | Nov 2024 | ICOI vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 45.73M | Sep 2024 | ICOI vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 324.77M | Mar 2024 | ICOI vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | ICOI vs FYEE | |
| Parametric Equity Premium Income ETF | 0.29% | 414.48M | Oct 2023 | ICOI vs PAPI |
Best Risk-Adjusted Alternatives to ICOI
ICOI has a PortfoliosLab risk / return rank of 1. There are 154 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| SoFi Enhanced Yield ETF | 95 | 34.73M | Nov 2023 | ICOI vs THTA | |
| Simplify Treasury Option Income ETF | 95 | 474.96M | Oct 2022 | ICOI vs BUCK | |
| YieldMax Semiconductor Portfolio Option Income ETF | 94 | 1.16B | Apr 2025 | ICOI vs CHPY | |
| YieldMax AMD Option Income Strategy ETF | 93 | 443.39M | Sep 2023 | ICOI vs AMDY | |
| YieldMax GOOGL Option Income Strategy ETF | 93 | 246.95M | Jul 2023 | ICOI vs GOOY |
Top Performing ICOI Alternatives (YTD)
ICOI is at -23.05% YTD. There are 210 ETFs in the Derivative Income category with higher YTD returns, going as high as 207.86%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 207.86% | 27.86M | Oct 2025 | ICOI vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 184.48% | 116.76M | Jul 2025 | ICOI vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 109.12% | 443.39M | Sep 2023 | ICOI vs AMDY | |
| YieldMax MRNA Option Income Strategy ETF | 89.76% | 127.56M | Oct 2023 | ICOI vs MRNY | |
| YieldMax Semiconductor Portfolio Option Income ETF | 70.96% | 1.16B | Apr 2025 | ICOI vs CHPY |
Lowest Volatility Alternatives to ICOI
ICOI has 49.71% 1-year volatility. There are 244 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.80%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.80% | 474.96M | Oct 2022 | ICOI vs BUCK | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.45% | 206.17M | Apr 2026 | ICOI vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.86% | 88.48M | Feb 2025 | ICOI vs HYTI | |
| Main Buywrite ETF | 4.86% | 1.26B | Dec 2015 | ICOI vs BUYW | |
| GraniteShares YieldBOOST 20Y+ Treasuries ETF | 5.08% | 726.94K | May 2026 | ICOI vs FIYY |
Lowest Drawdown Alternatives to ICOI
ICOI has a 1-year max drawdown of -59.32%. There are 157 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.84%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -0.84% | 474.96M | Oct 2022 | ICOI vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 88.48M | Feb 2025 | ICOI vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.26B | 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 BITW, BITQ, BITC and span 4 categories. AUM among these funds goes as high as $634M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Bitwise 10 Crypto Index ETF | Cryptocurrency | 2 | -32.04% | 619.02M | Dec 2025 | ICOI vs BITW | |
| Bitwise Crypto Industry Innovators ETF | Blockchain, Technology Equities | 14 | 16.31% | 399.21M | May 2021 | ICOI vs BITQ | |
| Bitwise Bitcoin Strategy Optimum Roll ETF | Cryptocurrency | 1 | -2.70% | 14.58M | Mar 2023 | ICOI vs BITC | |
| Bitwise Ethereum Strategy ETF | Cryptocurrency | 4 | -20.01% | 4.28M | Sep 2023 | ICOI vs AETH | |
| Bitwise Funds Trust | Derivative Income | 1 | -31.57% | 8.58M | Apr 2025 | ICOI vs IMST | |
| Bitwise Ethereum ETF | Cryptocurrency | 5 | -40.34% | 188.14M | Jul 2024 | ICOI vs ETHW | |
| Bitwise XRP ETF | Cryptocurrency | — | -41.86% | 310.35M | Nov 2025 | ICOI vs XRP | |
| Bitwise Bitcoin Standard Corporations ETF | Blockchain | 2 | -19.43% | 14.79M | Mar 2025 | ICOI vs OWNB | |
| Bitwise Solana Staking ETF | Cryptocurrency | — | -37.68% | 634.09M | Oct 2025 | ICOI vs BSOL | |
| Bitwise Ethereum Option Income Strategy ETF | Derivative Income | — | -34.41% | 520.87K | Oct 2025 | ICOI vs IETH |
Often Compared With ICOI
Investors most often compare ICOI with COYY, BLOX, CONY. These 20 comparison targets span 8 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