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 -42.62% vs -44.57% for BTC-USD. Their 0.69 correlation means they have sometimes moved together and sometimes differently.
Performance
BAGY vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BAGY achieves a -24.17% return, which is significantly higher than BTC-USD's -27.65% return.
BAGY
- 1D
- 1.66%
- 1M
- 3.71%
- 6M
- -17.10%
- YTD
- -24.17%
- 1Y
- -42.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -25.03%
BTC-USD
- 1D
- -0.30%
- 1M
- 0.35%
- 6M
- -19.52%
- YTD
- -27.65%
- 1Y
- -44.57%
- 3Y*
- 29.61%
- 5Y*
- 9.77%
- 10Y*
- 59.80%
- ALL TIME*
- 87.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $86.02K | $77.03K | $159.23K | |
BTC-USD Bitcoin | $1541.04T | $1614.90T | $2068.30T |
BAGY vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BAGY Amplify Bitcoin Max Income Covered Call ETF | -24.17% | -8.33% |
BTC-USD Bitcoin | -27.65% | -7.94% |
Correlation
The correlation between BAGY and BTC-USD is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
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 0.72 - 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 | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.85 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.84 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.31 | -1.29 | -0.03 |
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Drawdowns
BAGY vs. BTC-USD - Drawdown Comparison
The maximum BAGY drawdown since its inception was -50.68%, 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 | -50.68% | -85.30% | +34.62% |
Max Drawdown (1Y)Largest decline over 1 year | -50.68% | -53.08% | +2.40% |
Max Drawdown (3Y)Largest decline over 3 years | — | -53.08% | — |
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 | -46.65% | -49.24% | +2.59% |
Average DrawdownAverage peak-to-trough decline | -23.13% | -42.74% | +19.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.46% | 25.03% | +7.43% |
Volatility
BAGY vs. BTC-USD - Volatility Comparison
Amplify Bitcoin Max Income Covered Call ETF (BAGY) has a higher volatility of 9.48% compared to Bitcoin (BTC-USD) at 8.46%. 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 | 9.48% | 8.46% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 33.99% | 33.65% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.52% | 35.87% | +7.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.70% | 43.64% | -2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.70% | 56.22% | -15.52% |
Frequently Asked Questions
BAGY and BTC-USD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAGY has higher volatility (9.48%) compared to BTC-USD (8.46%). In terms of maximum drawdown, BAGY dropped -50.68% vs BTC-USD's -85.30%.
BAGY currently has the higher Sharpe Ratio (-0.98 vs -1.03), 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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