BBB vs. MDIV

Last updated Jul 18, 2026

BBB (CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF) and MDIV (First Trust Multi-Asset Diversified Income Index Fund) are both Diversified Portfolio funds - BBB tracks the S&P 500 and S&P Bitcoin 75/25 Blend Index while MDIV tracks the NASDAQ US Multi-Asset Diversified Income Index. Both are passively managed. Over the past year, BBB returned -1.40% vs 13.03% for MDIV. At a 0.36 correlation, their price movements are largely independent. BBB charges 0.98%/yr vs 0.73%/yr for MDIV.

Performance

BBB vs. MDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF (BBB) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBB achieves a -0.31% return, which is significantly lower than MDIV's 11.43% return.

BBB

• 1D: -0.71%
• 1M: 0.11%
• 6M: -3.49%
• YTD: -0.31%
• 1Y: -1.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MDIV

• 1D: -0.32%
• 1M: 3.80%
• 6M: 8.67%
• YTD: 11.43%
• 1Y: 13.03%
• 3Y*: 11.11%
• 5Y*: 6.70%
• 10Y*: 4.79%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBB vs. MDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BBB CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF	-0.31%	9.73%	38.82%	-0.86%
MDIV First Trust Multi-Asset Diversified Income Index Fund	11.43%	3.77%	10.05%	-0.45%

Correlation

The correlation between BBB and MDIV is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023	0.36

Return for Risk

BBB vs. MDIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBB

BBB Risk / Return Rank: 9
BBB Sharpe Ratio Rank: 9
BBB Sortino Ratio Rank: 9
BBB Omega Ratio Rank: 9
BBB Calmar Ratio Rank: 9
BBB Martin Ratio Rank: 9

MDIV

MDIV Risk / Return Rank: 79
MDIV Sharpe Ratio Rank: 78
MDIV Sortino Ratio Rank: 82
MDIV Omega Ratio Rank: 76
MDIV Calmar Ratio Rank: 87
MDIV Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBB vs. MDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF (BBB) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). 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.

	BBB	MDIV	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	1.98	-2.06
Sortino ratio: Return per unit of downside risk	0.02	2.93	-2.91
Omega ratio: Gain probability vs. loss probability	1.00	1.35	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.08	3.86	-3.94
Martin ratio: Return relative to average drawdown	-0.19	10.70	-10.89

BBB vs. MDIV - Sharpe Ratio Comparison

The current BBB Sharpe Ratio is -0.08, which is lower than the MDIV Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of BBB and MDIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBB vs. MDIV - Drawdown Comparison

The maximum BBB drawdown since its inception was -21.98%, smaller than the maximum MDIV drawdown of -48.50%. Use the drawdown chart below to compare losses from any high point for BBB and MDIV.

Drawdown Indicators

	BBB	MDIV	Difference
Max Drawdown Largest peak-to-trough decline	-21.98%	-48.50%	+26.52%
Max Drawdown (1Y) Largest decline over 1 year	-17.74%	-3.39%	-14.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.62%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.50%	—
Current Drawdown Current decline from peak	-7.37%	-0.32%	-7.05%
Average Drawdown Average peak-to-trough decline	-4.57%	-4.55%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.45%	1.22%	+6.23%

Volatility

BBB vs. MDIV - Volatility Comparison

CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF (BBB) has a higher volatility of 4.23% compared to First Trust Multi-Asset Diversified Income Index Fund (MDIV) at 1.98%. This indicates that BBB's price experiences larger fluctuations and is considered to be riskier than MDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBB	MDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	1.98%	+2.25%
Volatility (6M) Calculated over the trailing 6-month period	13.93%	4.53%	+9.40%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	6.62%	+11.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.85%	10.91%	+10.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.85%	15.20%	+6.65%

BBB vs. MDIV - Expense Ratio Comparison

BBB has a 0.98% expense ratio, which is higher than MDIV's 0.73% expense ratio.

Dividends

BBB vs. MDIV - Dividend Comparison

BBB's dividend yield for the trailing twelve months is around 0.16%, less than MDIV's 6.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBB CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF	0.16%	0.21%	6.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MDIV First Trust Multi-Asset Diversified Income Index Fund	6.61%	6.51%	6.40%	6.08%	6.71%	5.30%	6.00%	5.90%	6.76%	6.04%	6.35%	7.38%

Frequently Asked Questions

Can I hold both BBB and MDIV in my portfolio?

BBB and MDIV have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBB or MDIV?

BBB has higher volatility (4.23%) compared to MDIV (1.98%). In terms of maximum drawdown, BBB dropped -21.98% vs MDIV's -48.50%.

Which ETF is better, BBB or MDIV?

On 1-year performance, MDIV leads with 13.03% vs -1.40% for BBB. On fees, MDIV is cheaper at 0.73% per year. On volatility, MDIV has been the lower-risk option at 1.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBB or MDIV?

Over the 1-year period, MDIV has performed better with a 13.03% return vs -1.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBB or MDIV?

MDIV is cheaper with a 0.73% expense ratio, compared with 0.98% for BBB.

Which ETF pays a higher dividend yield, BBB or MDIV?

MDIV has the higher dividend yield at 6.61%, compared with 0.16% for BBB.

What is the main difference between BBB and MDIV?

BBB tracks S&P 500 and S&P Bitcoin 75/25 Blend Index, while MDIV tracks NASDAQ US Multi-Asset Diversified Income Index. They also come from different issuers: CYBER HORNET and First Trust. Their fees differ too: 0.98% for BBB and 0.73% for MDIV.

Which has better risk-adjusted returns?

MDIV currently has the higher Sharpe Ratio (1.98 vs -0.08), 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.