BFAP vs. BFOC

Last updated Jun 26, 2026

BFAP (FT Vest Bitcoin Strategy Floor15 ETF - April) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - BFAP is a Cryptocurrency fund actively managed by First Trust, while BFOC is a Defined Outcome fund actively managed by First Trust. Both are actively managed. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.90% expense ratio.

Performance

BFAP vs. BFOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFAP achieves a -23.65% return, which is significantly lower than BFOC's -7.42% return.

BFAP

• 1D: -0.19%
• 1M: -9.01%
• YTD: -23.65%
• 6M: -23.58%
• 1Y: -28.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFOC

• 1D: 0.10%
• 1M: -1.23%
• YTD: -7.42%
• 6M: -7.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BFAP vs. BFOC - Yearly Performance Comparison

	2026 (YTD)	2025
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	-23.65%	-11.18%
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	-7.42%	-9.75%

Correlation

The correlation between BFAP and BFOC is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.85

Return for Risk

BFAP vs. BFOC — Risk / Return Rank

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

BFAP

BFAP Risk / Return Rank: 1
BFAP Sharpe Ratio Rank: 0
BFAP Sortino Ratio Rank: 1
BFAP Omega Ratio Rank: 1
BFAP Calmar Ratio Rank: 2
BFAP Martin Ratio Rank: 1

BFOC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BFAP vs. BFOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). 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.

	BFAP	BFOC	Difference
Sharpe ratio: Return per unit of total volatility	-1.34	—	—
Sortino ratio: Return per unit of downside risk	-1.88	—	—
Omega ratio: Gain probability vs. loss probability	0.78	—	—
Calmar ratio: Return relative to maximum drawdown	-0.85	—	—
Martin ratio: Return relative to average drawdown	-1.53	—	—

Drawdowns

BFAP vs. BFOC - Drawdown Comparison

The maximum BFAP drawdown since its inception was -33.64%, which is greater than BFOC's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for BFAP and BFOC.

Drawdown Indicators

	BFAP	BFOC	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-18.41%	-15.23%
Max Drawdown (1Y) Largest decline over 1 year	-33.64%	—	—
Current Drawdown Current decline from peak	-33.64%	-18.22%	-15.42%
Average Drawdown Average peak-to-trough decline	-11.78%	-12.90%	+1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.63%	—	—

Volatility

Volatility by Period

	BFAP	BFOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.45%	12.25%	+9.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.46%	12.25%	+8.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.46%	12.25%	+8.21%

BFAP vs. BFOC - Expense Ratio Comparison

Both BFAP and BFOC have an expense ratio of 0.90%.

Dividends

BFAP vs. BFOC - Dividend Comparison

BFAP's dividend yield for the trailing twelve months is around 24.85%, while BFOC has not paid dividends to shareholders.

Position	TTM	2025
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	24.85%	18.97%
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	0.00%	0.00%

Frequently Asked Questions

Can I hold both BFAP and BFOC in my portfolio?

BFAP and BFOC have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BFAP or BFOC?

Both ETFs have the same 0.90% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BFAP or BFOC?

BFAP and BFOC have the same expense ratio: 0.90% per year.

Which ETF pays a higher dividend yield, BFAP or BFOC?

BFAP has the higher dividend yield at 24.85%, compared with 0.00% for BFOC.

What is the main difference between BFAP and BFOC?

BFAP is categorized as Cryptocurrency, while BFOC is Defined Outcome.