BETE vs. BTCI

Last updated Jul 17, 2026

BETE (Proshares Bitcoin & Ether Equal Weight Strategy ETF) and BTCI (NEOS Bitcoin High Income ETF) are both Cryptocurrency funds. Over the past year, BETE returned -46.25% vs -41.43% for BTCI. Their correlation of 0.93 suggests significant overlap in exposure. BETE charges 0.95%/yr vs 0.99%/yr for BTCI.

Performance

BETE vs. BTCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and NEOS Bitcoin High Income ETF (BTCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETE achieves a -33.38% return, which is significantly lower than BTCI's -24.61% return.

BETE

• 1D: -1.90%
• 1M: 1.02%
• 6M: -38.98%
• YTD: -33.38%
• 1Y: -46.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCI

• 1D: -0.68%
• 1M: -3.01%
• 6M: -29.88%
• YTD: -24.61%
• 1Y: -41.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BETE vs. BTCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	-33.38%	-8.17%	29.91%
BTCI NEOS Bitcoin High Income ETF	-24.61%	-1.09%	26.12%

Correlation

The correlation between BETE and BTCI is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.93

The correlation between BETE and BTCI has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

BETE vs. BTCI — Risk / Return Rank

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

BETE

BETE Risk / Return Rank: 3
BETE Sharpe Ratio Rank: 3
BETE Sortino Ratio Rank: 3
BETE Omega Ratio Rank: 3
BETE Calmar Ratio Rank: 3
BETE Martin Ratio Rank: 3

BTCI

BTCI Risk / Return Rank: 2
BTCI Sharpe Ratio Rank: 1
BTCI Sortino Ratio Rank: 2
BTCI Omega Ratio Rank: 2
BTCI Calmar Ratio Rank: 2
BTCI Martin Ratio Rank: 1

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.

BETE vs. BTCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and NEOS Bitcoin High Income ETF (BTCI). 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.

	BETE	BTCI	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	-1.04	+0.20
Sortino ratio: Return per unit of downside risk	-1.16	-1.52	+0.36
Omega ratio: Gain probability vs. loss probability	0.87	0.83	+0.05
Calmar ratio: Return relative to maximum drawdown	-0.75	-0.86	+0.11
Martin ratio: Return relative to average drawdown	-1.19	-1.41	+0.22

BETE vs. BTCI - Sharpe Ratio Comparison

The current BETE Sharpe Ratio is -0.84, which is comparable to the BTCI Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of BETE and BTCI, 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

BETE vs. BTCI - Drawdown Comparison

The maximum BETE drawdown since its inception was -61.75%, which is greater than BTCI's maximum drawdown of -48.42%. Use the drawdown chart below to compare losses from any high point for BETE and BTCI.

Drawdown Indicators

	BETE	BTCI	Difference
Max Drawdown Largest peak-to-trough decline	-61.75%	-48.42%	-13.33%
Max Drawdown (1Y) Largest decline over 1 year	-61.75%	-48.42%	-13.33%
Current Drawdown Current decline from peak	-56.32%	-44.25%	-12.07%
Average Drawdown Average peak-to-trough decline	-22.93%	-17.15%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.91%	29.39%	+9.52%

Volatility

BETE vs. BTCI - Volatility Comparison

Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) has a higher volatility of 12.76% compared to NEOS Bitcoin High Income ETF (BTCI) at 9.70%. This indicates that BETE's price experiences larger fluctuations and is considered to be riskier than BTCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETE	BTCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.76%	9.70%	+3.06%
Volatility (6M) Calculated over the trailing 6-month period	40.89%	31.60%	+9.29%
Volatility (1Y) Calculated over the trailing 1-year period	55.70%	39.91%	+15.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.32%	40.04%	+16.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.32%	40.04%	+16.28%

BETE vs. BTCI - Expense Ratio Comparison

BETE has a 0.95% expense ratio, which is lower than BTCI's 0.99% expense ratio.

Dividends

BETE vs. BTCI - Dividend Comparison

BETE's dividend yield for the trailing twelve months is around 78.32%, more than BTCI's 42.61% yield.

Position	TTM	2025	2024	2023
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	78.32%	68.22%	15.22%	0.78%
BTCI NEOS Bitcoin High Income ETF	42.61%	36.46%	6.76%	0.00%

Frequently Asked Questions

Can I hold both BETE and BTCI in my portfolio?

With a correlation of 0.95, BETE and BTCI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BETE or BTCI?

BETE has higher volatility (12.76%) compared to BTCI (9.70%). In terms of maximum drawdown, BETE dropped -61.75% vs BTCI's -48.42%.

Which ETF is better, BETE or BTCI?

On 1-year performance, BTCI leads with -41.43% vs -46.25% for BETE. On fees, BETE is cheaper at 0.95% per year. On volatility, BTCI has been the lower-risk option at 9.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETE or BTCI?

Over the 1-year period, BTCI has performed better with a -41.43% return vs -46.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETE or BTCI?

BETE is cheaper with a 0.95% expense ratio, compared with 0.99% for BTCI.

Which ETF pays a higher dividend yield, BETE or BTCI?

BETE has the higher dividend yield at 78.32%, compared with 42.61% for BTCI.

What is the main difference between BETE and BTCI?

They also come from different issuers: ProShares and Neos. Their fees differ too: 0.95% for BETE and 0.99% for BTCI.

Which has better risk-adjusted returns?

BETE currently has the higher Sharpe Ratio (-0.84 vs -1.04), 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.