BITB vs. BITY

Last updated Jun 4, 2026

BITB (Bitwise Bitcoin ETF) and BITY (Amplify Bitcoin 2% Monthly Option Income ETF) are both exchange-traded funds - BITB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while BITY is a Derivative Income fund actively managed by Amplify. BITB is passively managed, while BITY is actively managed. Over the past year, BITB returned -38.62% vs -37.35% for BITY. With a 0.99 correlation, they move nearly in lockstep. BITB charges 0.20%/yr vs 0.65%/yr for BITY.

Performance

BITB vs. BITY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Bitcoin ETF (BITB) and Amplify Bitcoin 2% Monthly Option Income ETF (BITY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITB achieves a -25.38% return, which is significantly lower than BITY's -23.09% return.

BITB

• 1D: -2.74%
• 1M: -18.38%
• YTD: -25.38%
• 6M: -29.75%
• 1Y: -38.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITY

• 1D: -2.61%
• 1M: -19.63%
• YTD: -23.09%
• 6M: -26.69%
• 1Y: -37.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITB vs. BITY - Yearly Performance Comparison

	2026 (YTD)	2025
BITB Bitwise Bitcoin ETF	-25.38%	-8.33%
BITY Amplify Bitcoin 2% Monthly Option Income ETF	-23.09%	-8.21%

Correlation

The correlation between BITB and BITY is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025	0.99

The correlation between BITB and BITY has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

BITB vs. BITY — Risk / Return Rank

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

BITB

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

BITY

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

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.

BITB vs. BITY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin ETF (BITB) and Amplify Bitcoin 2% Monthly Option Income ETF (BITY). 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.

	BITB	BITY	Difference
Sharpe ratio Return per unit of total volatility	-0.89	-0.94	+0.05
Sortino ratio Return per unit of downside risk	-1.22	-1.30	+0.08
Omega ratio Gain probability vs. loss probability	0.86	0.85	+0.01
Calmar ratio Return relative to maximum drawdown	-0.78	-0.81	+0.02
Martin ratio Return relative to average drawdown	-1.36	-1.41	+0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITB vs. BITY - Sharpe Ratio Comparison

The current BITB Sharpe Ratio is -0.89, which is comparable to the BITY Sharpe Ratio of -0.94. The chart below compares the historical Sharpe Ratios of BITB and BITY, 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

	BITB	BITY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.89	-0.94	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	-0.70	+1.00

Drawdowns

BITB vs. BITY - Drawdown Comparison

The maximum BITB drawdown since its inception was -49.38%, which is greater than BITY's maximum drawdown of -46.36%. Use the drawdown chart below to compare losses from any high point for BITB and BITY.

Drawdown Indicators

	BITB	BITY	Difference
Max Drawdown Largest peak-to-trough decline	-49.38%	-46.36%	-3.02%
Max Drawdown (1Y) Largest decline over 1 year	-49.38%	-46.36%	-3.02%
Current Drawdown Current decline from peak	-48.02%	-45.49%	-2.53%
Average Drawdown Average peak-to-trough decline	-16.02%	-19.67%	+3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.42%	26.48%	+1.94%

Volatility

BITB vs. BITY - Volatility Comparison

Bitwise Bitcoin ETF (BITB) and Amplify Bitcoin 2% Monthly Option Income ETF (BITY) have volatilities of 9.39% and 9.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITB	BITY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.39%	9.68%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	34.39%	31.24%	+3.15%
Volatility (1Y) Calculated over the trailing 1-year period	43.62%	39.94%	+3.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.98%	39.02%	+10.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.98%	39.02%	+10.96%

BITB vs. BITY - Expense Ratio Comparison

BITB has a 0.20% expense ratio, which is lower than BITY's 0.65% expense ratio.

Dividends

BITB vs. BITY - Dividend Comparison

BITB has not paid dividends to shareholders, while BITY's dividend yield for the trailing twelve months is around 39.66%.

Position	TTM	2025
BITB Bitwise Bitcoin ETF	0.00%	0.00%
BITY Amplify Bitcoin 2% Monthly Option Income ETF	39.66%	21.53%

Frequently Asked Questions

Can I hold both BITB and BITY in my portfolio?

With a correlation of 0.99, BITB and BITY 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, BITB or BITY?

BITY has higher volatility (9.68%) compared to BITB (9.39%). In terms of maximum drawdown, BITB dropped -49.38% vs BITY's -46.36%.

Which ETF is better, BITB or BITY?

On 1-year performance, BITY leads with -37.35% vs -38.62% for BITB. On fees, BITB is cheaper at 0.20% per year. On volatility, BITB has been the lower-risk option at 9.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITB or BITY?

Over the 1-year period, BITY has performed better with a -37.35% return vs -38.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITB or BITY?

BITB is cheaper with a 0.20% expense ratio, compared with 0.65% for BITY.

Which ETF pays a higher dividend yield, BITB or BITY?

BITY has the higher dividend yield at 39.66%, compared with 0.00% for BITB.

What is the main difference between BITB and BITY?

BITB is categorized as Cryptocurrency, while BITY is Derivative Income. They also come from different issuers: Bitwise Asset Management and Amplify. Their fees differ too: 0.20% for BITB and 0.65% for BITY.

Which has better risk-adjusted returns?

BITB currently has the higher Sharpe Ratio (-0.89 vs -0.94), 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.