BITO vs. CONY
Compare and contrast key facts about ProShares Bitcoin Strategy ETF (BITO) and YieldMax COIN Option Income Strategy ETF (CONY).
BITO and CONY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021. CONY is an actively managed fund by YieldMax. It was launched on Aug 14, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITO or CONY.
Correlation
The correlation between BITO and CONY is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BITO vs. CONY - Performance Comparison
Key characteristics
BITO:
0.58
CONY:
-0.21
BITO:
1.19
CONY:
0.15
BITO:
1.14
CONY:
1.02
BITO:
1.03
CONY:
-0.28
BITO:
2.33
CONY:
-0.61
BITO:
13.79%
CONY:
22.69%
BITO:
55.22%
CONY:
66.65%
BITO:
-77.86%
CONY:
-50.34%
BITO:
-14.26%
CONY:
-37.75%
Returns By Period
In the year-to-date period, BITO achieves a -1.44% return, which is significantly higher than CONY's -19.05% return.
BITO
-1.44%
5.96%
32.61%
37.76%
N/A
N/A
CONY
-19.05%
-3.76%
-6.67%
-14.52%
N/A
N/A
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BITO vs. CONY - Expense Ratio Comparison
BITO has a 0.95% expense ratio, which is lower than CONY's 0.99% expense ratio.
Risk-Adjusted Performance
BITO vs. CONY — Risk-Adjusted Performance Rank
BITO
CONY
BITO vs. CONY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and YieldMax COIN Option Income Strategy ETF (CONY). 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.
Dividends
BITO vs. CONY - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 67.78%, less than CONY's 184.84% yield.
| TTM | 2024 | 2023 | |
|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 67.78% | 61.58% | 15.14% |
CONY YieldMax COIN Option Income Strategy ETF | 184.84% | 155.65% | 16.44% |
Drawdowns
BITO vs. CONY - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, which is greater than CONY's maximum drawdown of -50.34%. Use the drawdown chart below to compare losses from any high point for BITO and CONY. For additional features, visit the drawdowns tool.
Volatility
BITO vs. CONY - Volatility Comparison
The current volatility for ProShares Bitcoin Strategy ETF (BITO) is 16.72%, while YieldMax COIN Option Income Strategy ETF (CONY) has a volatility of 20.10%. This indicates that BITO experiences smaller price fluctuations and is considered to be less risky than CONY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.