BITC vs. BTCI

Last updated Aug 2, 2026

BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) and BTCI (NEOS Bitcoin High Income ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BITC returned -24.54% vs -40.21% for BTCI. Their 0.60 correlation means they have sometimes moved together and sometimes differently. BITC charges 0.88%/yr vs 0.99%/yr for BTCI.

Performance

BITC vs. BTCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) 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, BITC achieves a -1.76% return, which is significantly higher than BTCI's -25.73% return.

BITC

• 1D: -2.97%
• 1M: -1.31%
• 6M: -1.00%
• YTD: -1.76%
• 1Y: -24.54%
• 3Y*: 29.84%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.54%

BTCI

• 1D: -2.39%
• 1M: 2.51%
• 6M: -23.02%
• YTD: -25.73%
• 1Y: -40.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -4.18%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	$51.18K	$64.98K	$91.15K
BTCI NEOS Bitcoin High Income ETF	$12.53M	$12.80M	$22.67M

BITC vs. BTCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	-1.76%	-20.46%	56.71%
BTCI NEOS Bitcoin High Income ETF	-25.73%	-1.09%	26.12%

Correlation

The correlation between BITC and BTCI is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.60

The correlation between BITC and BTCI shifts across timeframes, from 0.49 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BITC vs. BTCI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BITC

BITC Risk / Return Rank: 2
BITC Sharpe Ratio Rank: 2
BITC Sortino Ratio Rank: 2
BITC Omega Ratio Rank: 1
BITC Calmar Ratio Rank: 1
BITC Martin Ratio Rank: 3

BTCI

BTCI Risk / Return Rank: 1
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) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BITC vs. BTCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) 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.

	BITC	BTCI	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	-1.05	+0.06
Sortino ratio: Return per unit of downside risk	-1.33	-1.53	+0.20
Omega ratio: Gain probability vs. loss probability	0.80	0.83	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.87	-0.02
Martin ratio: Return relative to average drawdown	-1.19	-1.36	+0.17

BITC vs. BTCI - Sharpe Ratio Comparison

The current BITC Sharpe Ratio is -0.98, which is comparable to the BTCI Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of BITC 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

BITC vs. BTCI - Drawdown Comparison

The maximum BITC drawdown since its inception was -38.51%, smaller than the maximum BTCI drawdown of -48.42%. Use the drawdown chart below to compare losses from any high point for BITC and BTCI.

Drawdown Indicators

	BITC	BTCI	Difference
Max Drawdown Largest peak-to-trough decline	-38.51%	-48.42%	+9.91%
Max Drawdown (1Y) Largest decline over 1 year	-27.89%	-48.42%	+20.53%
Max Drawdown (3Y) Largest decline over 3 years	-38.51%	—	—
Current Drawdown Current decline from peak	-32.48%	-45.08%	+12.60%
Average Drawdown Average peak-to-trough decline	-16.98%	-17.81%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.72%	30.79%	-10.07%

Volatility

BITC vs. BTCI - Volatility Comparison

Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) has a higher volatility of 8.07% compared to NEOS Bitcoin High Income ETF (BTCI) at 7.31%. This indicates that BITC'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

	BITC	BTCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.07%	7.31%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	18.32%	30.70%	-12.38%
Volatility (1Y) Calculated over the trailing 1-year period	25.11%	40.00%	-14.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.81%	39.67%	+6.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.81%	39.67%	+6.14%

BITC vs. BTCI - Expense Ratio Comparison

BITC has a 0.88% expense ratio, which is lower than BTCI's 0.99% expense ratio.

Dividends

BITC vs. BTCI - Dividend Comparison

BITC's dividend yield for the trailing twelve months is around 3.42%, less than BTCI's 41.26% yield.

Position	TTM	2025	2024	2023
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.42%	3.36%	42.68%	5.82%
BTCI NEOS Bitcoin High Income ETF	41.26%	36.46%	6.76%	0.00%

Frequently Asked Questions

Can I hold both BITC and BTCI in my portfolio?

BITC and BTCI have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITC or BTCI?

BITC has higher volatility (8.07%) compared to BTCI (7.31%). In terms of maximum drawdown, BITC dropped -38.51% vs BTCI's -48.42%.

Which ETF is better, BITC or BTCI?

On 1-year performance, BITC leads with -24.54% vs -40.21% for BTCI. On fees, BITC is cheaper at 0.88% per year. On volatility, BTCI has been the lower-risk option at 7.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITC or BTCI?

Over the 1-year period, BITC has performed better with a -24.54% return vs -40.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITC or BTCI?

BITC is cheaper with a 0.88% expense ratio, compared with 0.99% for BTCI.

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

BTCI has the higher dividend yield at 41.26%, compared with 3.42% for BITC.

What is the main difference between BITC and BTCI?

They also come from different issuers: Bitwise and Neos. Their fees differ too: 0.88% for BITC and 0.99% for BTCI.

Which has better risk-adjusted returns?

BITC currently has the higher Sharpe Ratio (-0.98 vs -1.05), 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.