BCCL.NEO vs. UTES

Last updated Jun 4, 2026

BCCL.NEO (Global X Enhanced Bitcoin Covered Call ETF) and UTES (Virtus Reaves Utilities ETF) are both exchange-traded funds - BCCL.NEO is a Derivative Income fund actively managed by Global X, while UTES is a Utilities Equities fund actively managed by Virtus Investment Partners. Both are actively managed. Over the past year, BCCL.NEO returned -40.36% vs 9.25% for UTES. At a 0.19 correlation, their price movements are largely independent.

Performance

BCCL.NEO vs. UTES - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) and Virtus Reaves Utilities ETF (UTES). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BCCL.NEO is traded in CAD, while UTES is traded in USD. To make them comparable, the UTES values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BCCL.NEO achieves a -27.54% return, which is significantly lower than UTES's 1.36% return.

BCCL.NEO

• 1D: -3.22%
• 1M: -17.13%
• YTD: -27.54%
• 6M: -33.09%
• 1Y: -40.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UTES

• 1D: -0.57%
• 1M: -4.71%
• YTD: 1.36%
• 6M: -2.19%
• 1Y: 9.25%
• 3Y*: 24.20%
• 5Y*: 18.96%
• 10Y*: 13.22%

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

BCCL.NEO vs. UTES - Yearly Performance Comparison

	2026 (YTD)	2025
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF	-27.54%	-6.58%
UTES Virtus Reaves Utilities ETF	1.36%	18.93%

Correlation

The correlation between BCCL.NEO and UTES is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.19

Return for Risk

BCCL.NEO vs. UTES — Risk / Return Rank

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

BCCL.NEO

BCCL.NEO Risk / Return Rank: 2
BCCL.NEO Sharpe Ratio Rank: 2
BCCL.NEO Sortino Ratio Rank: 2
BCCL.NEO Omega Ratio Rank: 2
BCCL.NEO Calmar Ratio Rank: 2
BCCL.NEO Martin Ratio Rank: 2

UTES

UTES Risk / Return Rank: 14
UTES Sharpe Ratio Rank: 14
UTES Sortino Ratio Rank: 14
UTES Omega Ratio Rank: 14
UTES Calmar Ratio Rank: 15
UTES Martin Ratio Rank: 15

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.

BCCL.NEO vs. UTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) and Virtus Reaves Utilities ETF (UTES). 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.

	BCCL.NEO	UTES	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	0.43	-1.36
Sortino ratio: Return per unit of downside risk	-1.30	0.73	-2.03
Omega ratio: Gain probability vs. loss probability	0.86	1.09	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.77	0.57	-1.35
Martin ratio: Return relative to average drawdown	-1.36	1.27	-2.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCCL.NEO vs. UTES - Sharpe Ratio Comparison

The current BCCL.NEO Sharpe Ratio is -0.92, which is lower than the UTES Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of BCCL.NEO and UTES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BCCL.NEO	UTES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.92	0.43	-1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.98	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.69	0.74	-1.43

Drawdowns

BCCL.NEO vs. UTES - Drawdown Comparison

The maximum BCCL.NEO drawdown since its inception was -52.47%, which is greater than UTES's maximum drawdown of -29.38%. Use the drawdown chart below to compare losses from any high point for BCCL.NEO and UTES.

Drawdown Indicators

	BCCL.NEO	UTES	Difference
Max Drawdown Largest peak-to-trough decline	-52.47%	-29.38%	-23.09%
Max Drawdown (1Y) Largest decline over 1 year	-52.47%	-16.20%	-36.27%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.38%	—
Current Drawdown Current decline from peak	-50.69%	-10.18%	-40.51%
Average Drawdown Average peak-to-trough decline	-22.15%	-5.58%	-16.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.80%	7.31%	+22.49%

Volatility

BCCL.NEO vs. UTES - Volatility Comparison

Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) has a higher volatility of 12.21% compared to Virtus Reaves Utilities ETF (UTES) at 7.42%. This indicates that BCCL.NEO's price experiences larger fluctuations and is considered to be riskier than UTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCCL.NEO	UTES	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.21%	7.42%	+4.79%
Volatility (6M) Calculated over the trailing 6-month period	32.89%	16.97%	+15.92%
Volatility (1Y) Calculated over the trailing 1-year period	43.98%	21.45%	+22.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.65%	19.52%	+24.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.65%	19.48%	+24.17%

Dividends

BCCL.NEO vs. UTES - Dividend Comparison

BCCL.NEO's dividend yield for the trailing twelve months is around 40.66%, more than UTES's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF	40.66%	16.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UTES Virtus Reaves Utilities ETF	1.50%	1.42%	1.51%	2.44%	2.13%	1.94%	2.09%	1.84%	2.09%	3.44%	3.53%	0.61%

Frequently Asked Questions

Can I hold both BCCL.NEO and UTES in my portfolio?

BCCL.NEO and UTES have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between BCCL.NEO and UTES?

BCCL.NEO is categorized as Derivative Income, while UTES is Utilities Equities. They also come from different issuers: Global X and Virtus Investment Partners.