BITC vs. NVDY

Last updated Jun 24, 2026

BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - BITC is a Cryptocurrency fund actively managed by Bitwise, while NVDY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past 3 years, BITC returned 28.98%/yr vs 50.59%/yr for NVDY. At a 0.19 correlation, their price movements are largely independent. BITC charges 0.88%/yr vs 0.99%/yr for NVDY.

Performance

BITC vs. NVDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and YieldMax NVDA Option Income Strategy ETF (NVDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITC achieves a 3.58% return, which is significantly lower than NVDY's 7.04% return.

BITC

• 1D: -3.33%
• 1M: -3.10%
• YTD: 3.58%
• 6M: 3.49%
• 1Y: -13.86%
• 3Y*: 28.98%
• 5Y*: —
• 10Y*: —

NVDY

• 1D: -3.24%
• 1M: -5.21%
• YTD: 7.04%
• 6M: 6.21%
• 1Y: 33.90%
• 3Y*: 50.59%
• 5Y*: —
• 10Y*: —

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

BITC vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.58%	-20.46%	97.86%	47.21%
NVDY YieldMax NVDA Option Income Strategy ETF	7.04%	27.38%	114.23%	41.31%

Correlation

The correlation between BITC and NVDY is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (All Time) Calculated using the full available price history since May 11, 2023	0.19

Return for Risk

BITC vs. NVDY — Risk / Return Rank

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

BITC

BITC Risk / Return Rank: 5
BITC Sharpe Ratio Rank: 5
BITC Sortino Ratio Rank: 4
BITC Omega Ratio Rank: 4
BITC Calmar Ratio Rank: 4
BITC Martin Ratio Rank: 6

NVDY

NVDY Risk / Return Rank: 39
NVDY Sharpe Ratio Rank: 35
NVDY Sortino Ratio Rank: 33
NVDY Omega Ratio Rank: 32
NVDY Calmar Ratio Rank: 56
NVDY Martin Ratio Rank: 40

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.

BITC vs. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	1.20	-1.76
Sortino ratio: Return per unit of downside risk	-0.65	1.70	-2.35
Omega ratio: Gain probability vs. loss probability	0.90	1.21	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.52	2.66	-3.18
Martin ratio: Return relative to average drawdown	-0.73	6.05	-6.78

BITC vs. NVDY - Sharpe Ratio Comparison

The current BITC Sharpe Ratio is -0.55, which is lower than the NVDY Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of BITC and NVDY, 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. NVDY - Drawdown Comparison

The maximum BITC drawdown since its inception was -38.51%, which is greater than NVDY's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for BITC and NVDY.

Drawdown Indicators

	BITC	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-38.51%	-34.08%	-4.43%
Max Drawdown (1Y) Largest decline over 1 year	-26.51%	-12.81%	-13.70%
Max Drawdown (3Y) Largest decline over 3 years	-38.51%	-34.08%	-4.43%
Current Drawdown Current decline from peak	-28.82%	-11.62%	-17.20%
Average Drawdown Average peak-to-trough decline	-16.51%	-6.20%	-10.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.94%	5.62%	+13.32%

Volatility

BITC vs. NVDY - Volatility Comparison

The current volatility for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) is 3.42%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 10.10%. This indicates that BITC experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITC	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	10.10%	-6.68%
Volatility (6M) Calculated over the trailing 6-month period	19.00%	21.63%	-2.63%
Volatility (1Y) Calculated over the trailing 1-year period	25.12%	28.32%	-3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.29%	38.19%	+8.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.29%	38.19%	+8.10%

BITC vs. NVDY - Expense Ratio Comparison

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

Dividends

BITC vs. NVDY - Dividend Comparison

BITC's dividend yield for the trailing twelve months is around 3.25%, less than NVDY's 64.30% yield.

Position	TTM	2025	2024	2023
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.25%	3.36%	42.68%	5.82%
NVDY YieldMax NVDA Option Income Strategy ETF	64.30%	83.10%	83.65%	22.32%

Frequently Asked Questions

Can I hold both BITC and NVDY in my portfolio?

BITC and NVDY have a correlation of 0.17, 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 NVDY?

NVDY has higher volatility (10.10%) compared to BITC (3.42%). In terms of maximum drawdown, BITC dropped -38.51% vs NVDY's -34.08%.

Which ETF is better, BITC or NVDY?

On 3-year performance, NVDY leads with 50.59% vs 28.98% for BITC. On fees, BITC is cheaper at 0.88% per year. On volatility, BITC has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITC or NVDY?

Over the 3-year period, NVDY has performed better with a 50.59% return vs 28.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITC or NVDY?

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

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

NVDY has the higher dividend yield at 64.30%, compared with 3.25% for BITC.

What is the main difference between BITC and NVDY?

BITC is categorized as Cryptocurrency, while NVDY is Derivative Income. They also come from different issuers: Bitwise and YieldMax. Their fees differ too: 0.88% for BITC and 0.99% for NVDY.

Which has better risk-adjusted returns?

NVDY currently has the higher Sharpe Ratio (1.20 vs -0.55), 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.