BITK vs. WEEL
BITK (Tuttle Capital Bitcoin 0DTE Covered Call ETF) and WEEL (Peerless Option Income Wheel ETF) are both Derivative Income funds. Both are actively managed. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.
Performance
BITK vs. WEEL - Performance Comparison
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Returns By Period
In the year-to-date period, BITK achieves a -30.56% return, which is significantly lower than WEEL's 5.68% return.
BITK
- 1D
- -2.63%
- 1M
- -21.00%
- YTD
- -30.56%
- 6M
- -35.37%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WEEL
- 1D
- 0.44%
- 1M
- 1.11%
- YTD
- 5.68%
- 6M
- 6.13%
- 1Y
- 20.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITK vs. WEEL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BITK Tuttle Capital Bitcoin 0DTE Covered Call ETF | -30.56% | -27.10% |
WEEL Peerless Option Income Wheel ETF | 5.68% | 4.34% |
Correlation
The correlation between BITK and WEEL is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025 | 0.49 |
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Return for Risk
BITK vs. WEEL — Risk / Return Rank
BITK
WEEL
BITK vs. WEEL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Bitcoin 0DTE Covered Call ETF (BITK) and Peerless Option Income Wheel ETF (WEEL). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| BITK | WEEL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.60 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.27 | 1.03 | -2.29 |
Drawdowns
BITK vs. WEEL - Drawdown Comparison
The maximum BITK drawdown since its inception was -53.87%, which is greater than WEEL's maximum drawdown of -17.45%. Use the drawdown chart below to compare losses from any high point for BITK and WEEL.
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Drawdown Indicators
| BITK | WEEL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.87% | -17.45% | -36.42% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.60% | — |
Current DrawdownCurrent decline from peak | -53.87% | 0.00% | -53.87% |
Average DrawdownAverage peak-to-trough decline | -34.97% | -1.45% | -33.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.95% | — |
Volatility
BITK vs. WEEL - Volatility Comparison
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Volatility by Period
| BITK | WEEL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.88% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.85% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 49.52% | 7.98% | +41.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.52% | 12.83% | +36.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.52% | 12.83% | +36.69% |
BITK vs. WEEL - Expense Ratio Comparison
Both BITK and WEEL have an expense ratio of 0.99%.
Dividends
BITK vs. WEEL - Dividend Comparison
BITK's dividend yield for the trailing twelve months is around 46.03%, more than WEEL's 12.41% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITK Tuttle Capital Bitcoin 0DTE Covered Call ETF | 46.03% | 23.15% | 0.00% |
WEEL Peerless Option Income Wheel ETF | 12.41% | 12.72% | 6.88% |
Frequently Asked Questions
BITK and WEEL 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.
Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BITK and WEEL have the same expense ratio: 0.99% per year.
BITK has the higher dividend yield at 46.03%, compared with 12.41% for WEEL.
They also come from different issuers: Tuttle Capital Management and Peerless ETFs.
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