BITK vs. IBIT

Last updated Jun 24, 2026

BITK (Tuttle Capital Bitcoin 0DTE Covered Call ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - BITK is a Derivative Income fund actively managed by Tuttle Capital Management, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. BITK is actively managed, while IBIT is passively managed. With a 0.97 correlation, they move nearly in lockstep. BITK charges 0.99%/yr vs 0.25%/yr for IBIT.

Performance

BITK vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tuttle Capital Bitcoin 0DTE Covered Call ETF (BITK) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITK achieves a -32.04% return, which is significantly lower than IBIT's -28.88% return.

BITK

• 1D: -3.11%
• 1M: -18.15%
• YTD: -32.04%
• 6M: -32.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -3.26%
• 1M: -17.81%
• YTD: -28.88%
• 6M: -28.88%
• 1Y: -39.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITK vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025
BITK Tuttle Capital Bitcoin 0DTE Covered Call ETF	-32.04%	-27.15%
IBIT iShares Bitcoin Trust ETF	-28.88%	-21.70%

Correlation

The correlation between BITK and IBIT is 0.97 - 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 (All Time) Calculated using the full available price history since Sep 24, 2025	0.97

Return for Risk

BITK vs. IBIT — Risk / Return Rank

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

BITK

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

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT 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.

BITK vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Bitcoin 0DTE Covered Call ETF (BITK) and iShares Bitcoin Trust ETF (IBIT). 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.

	BITK	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.90	—
Sortino ratio: Return per unit of downside risk	—	-1.25	—
Omega ratio: Gain probability vs. loss probability	—	0.86	—
Calmar ratio: Return relative to maximum drawdown	—	-0.77	—
Martin ratio: Return relative to average drawdown	—	-1.30	—

Drawdowns

BITK vs. IBIT - Drawdown Comparison

The maximum BITK drawdown since its inception was -56.28%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for BITK and IBIT.

Drawdown Indicators

	BITK	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-56.28%	-52.11%	-4.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.11%	—
Current Drawdown Current decline from peak	-54.86%	-50.47%	-4.39%
Average Drawdown Average peak-to-trough decline	-36.01%	-16.85%	-19.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.58%	—

Volatility

Volatility by Period

	BITK	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	49.31%	44.31%	+5.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.31%	50.22%	-0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.31%	50.22%	-0.91%

BITK vs. IBIT - Expense Ratio Comparison

BITK has a 0.99% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

BITK vs. IBIT - Dividend Comparison

BITK's dividend yield for the trailing twelve months is around 48.83%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025
BITK Tuttle Capital Bitcoin 0DTE Covered Call ETF	48.83%	23.15%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITK and IBIT in my portfolio?

With a correlation of 0.97, BITK and IBIT 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 ETF is better, BITK or IBIT?

On fees, IBIT is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BITK or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.99% for BITK.

Which ETF pays a higher dividend yield, BITK or IBIT?

BITK has the higher dividend yield at 48.83%, compared with 0.00% for IBIT.

What is the main difference between BITK and IBIT?

BITK is categorized as Derivative Income, while IBIT is Cryptocurrency. They also come from different issuers: Tuttle Capital Management and iShares. Their fees differ too: 0.99% for BITK and 0.25% for IBIT.