BAGY vs. BTC-USD
BAGY (Amplify Bitcoin Max Income Covered Call ETF) is Derivative Income fund actively managed by Amplify, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, BAGY returned -38.64% vs -40.30% for BTC-USD. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
BAGY vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BAGY achieves a -25.28% return, which is significantly higher than BTC-USD's -28.07% return.
BAGY
- 1D
- -3.61%
- 1M
- -18.40%
- YTD
- -25.28%
- 6M
- -25.26%
- 1Y
- -38.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
BAGY vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BAGY Amplify Bitcoin Max Income Covered Call ETF | -25.28% | -8.33% |
BTC-USD Bitcoin | -28.07% | -7.94% |
Correlation
The correlation between BAGY and BTC-USD is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025 | 0.69 |
The correlation between BAGY and BTC-USD has been stable across timeframes, ranging from 0.69 to 0.71 - a consistent structural relationship.
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Return for Risk
BAGY vs. BTC-USD — Risk / Return Rank
BAGY
BTC-USD
BAGY vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify Bitcoin Max Income Covered Call ETF (BAGY) and Bitcoin (BTC-USD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BAGY | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.86 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.79 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.32 | -0.04 |
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Drawdowns
BAGY vs. BTC-USD - Drawdown Comparison
The maximum BAGY drawdown since its inception was -49.84%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BAGY and BTC-USD.
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Drawdown Indicators
| BAGY | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.84% | -85.30% | +35.46% |
Max Drawdown (1Y)Largest decline over 1 year | -49.84% | -51.21% | +1.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -51.21% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -47.43% | -49.54% | +2.11% |
Average DrawdownAverage peak-to-trough decline | -20.76% | -42.40% | +21.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.33% | 31.29% | -2.96% |
Volatility
BAGY vs. BTC-USD - Volatility Comparison
Amplify Bitcoin Max Income Covered Call ETF (BAGY) has a higher volatility of 14.04% compared to Bitcoin (BTC-USD) at 12.23%. This indicates that BAGY's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAGY | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.04% | 12.23% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 33.99% | 34.57% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.91% | 35.70% | +7.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.30% | 44.26% | -2.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.30% | 56.41% | -15.11% |
Frequently Asked Questions
BAGY and BTC-USD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAGY has higher volatility (14.04%) compared to BTC-USD (12.23%). In terms of maximum drawdown, BAGY dropped -49.84% vs BTC-USD's -85.30%.
BAGY currently has the higher Sharpe Ratio (-0.90 vs -0.94), 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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