BAGY vs. IVVW
BAGY (Amplify Bitcoin Max Income Covered Call ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. BAGY is actively managed, while IVVW is passively managed. Over the past year, BAGY returned -38.64% vs 17.28% for IVVW. At a 0.46 correlation, their price movements are largely independent. BAGY charges 0.65%/yr vs 0.25%/yr for IVVW.
Performance
BAGY vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, BAGY achieves a -25.28% return, which is significantly lower than IVVW's 4.01% return.
BAGY
- 1D
- -3.61%
- 1M
- -18.40%
- YTD
- -25.28%
- 6M
- -25.26%
- 1Y
- -38.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- -1.24%
- 1M
- 0.16%
- YTD
- 4.01%
- 6M
- 4.08%
- 1Y
- 17.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BAGY vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BAGY Amplify Bitcoin Max Income Covered Call ETF | -25.28% | -8.33% |
IVVW iShares S&P 500 BuyWrite ETF | 4.01% | 17.77% |
Correlation
The correlation between BAGY and IVVW is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025 | 0.46 |
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Return for Risk
BAGY vs. IVVW — Risk / Return Rank
BAGY
IVVW
BAGY vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify Bitcoin Max Income Covered Call ETF (BAGY) and iShares S&P 500 BuyWrite ETF (IVVW). 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 | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.06 | ||
| Sortino ratioReturn per unit of downside risk | -4.18 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.47 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.99 | -3.76 |
| Martin ratioReturn relative to average drawdown | -1.37 | 15.95 | -17.32 |
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Drawdowns
BAGY vs. IVVW - Drawdown Comparison
The maximum BAGY drawdown since its inception was -49.84%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for BAGY and IVVW.
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Drawdown Indicators
| BAGY | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.84% | -16.79% | -33.05% |
Max Drawdown (1Y)Largest decline over 1 year | -49.84% | -5.81% | -44.03% |
Current DrawdownCurrent decline from peak | -47.43% | -1.37% | -46.06% |
Average DrawdownAverage peak-to-trough decline | -20.76% | -1.73% | -19.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.33% | 1.09% | +27.24% |
Volatility
BAGY vs. IVVW - Volatility Comparison
Amplify Bitcoin Max Income Covered Call ETF (BAGY) has a higher volatility of 14.04% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 3.45%. This indicates that BAGY's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAGY | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.04% | 3.45% | +10.59% |
Volatility (6M)Calculated over the trailing 6-month period | 33.99% | 6.91% | +27.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.91% | 8.05% | +34.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.30% | 12.69% | +28.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.30% | 12.69% | +28.61% |
BAGY vs. IVVW - Expense Ratio Comparison
BAGY has a 0.65% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
BAGY vs. IVVW - Dividend Comparison
BAGY's dividend yield for the trailing twelve months is around 60.88%, more than IVVW's 19.86% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BAGY Amplify Bitcoin Max Income Covered Call ETF | 60.88% | 30.16% | 0.00% |
IVVW iShares S&P 500 BuyWrite ETF | 19.86% | 18.55% | 13.72% |
Frequently Asked Questions
BAGY and IVVW have a correlation of 0.47, 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 IVVW (3.45%). In terms of maximum drawdown, BAGY dropped -49.84% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 17.28% vs -38.64% for BAGY. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 17.28% return vs -38.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.65% for BAGY.
BAGY has the higher dividend yield at 60.88%, compared with 19.86% for IVVW.
They also come from different issuers: Amplify and iShares. Their fees differ too: 0.65% for BAGY and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.16 vs -0.90), 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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