BITX vs. BFOC

Last updated Jun 26, 2026

BITX (2x Bitcoin Strategy ETF) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while BFOC is a Defined Outcome fund actively managed by First Trust. BITX is passively managed, while BFOC is actively managed. Their correlation of 0.87 suggests significant overlap in exposure. BITX charges 2.38%/yr vs 0.90%/yr for BFOC.

Performance

BITX vs. BFOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 2x Bitcoin Strategy ETF (BITX) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITX achieves a -61.72% return, which is significantly lower than BFOC's -7.42% return.

BITX

• 1D: -2.13%
• 1M: -40.88%
• YTD: -61.72%
• 6M: -61.62%
• 1Y: -78.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFOC

• 1D: 0.10%
• 1M: -1.23%
• YTD: -7.42%
• 6M: -7.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITX vs. BFOC - Yearly Performance Comparison

	2026 (YTD)	2025
BITX 2x Bitcoin Strategy ETF	-61.72%	-46.85%
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	-7.42%	-9.75%

Correlation

The correlation between BITX and BFOC is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.87

Return for Risk

BITX vs. BFOC — Risk / Return Rank

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

BITX

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

BFOC

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

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.

BITX vs. BFOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). 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.

	BITX	BFOC	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	—	—
Sortino ratio: Return per unit of downside risk	-1.75	—	—
Omega ratio: Gain probability vs. loss probability	0.81	—	—
Calmar ratio: Return relative to maximum drawdown	-0.95	—	—
Martin ratio: Return relative to average drawdown	-1.46	—	—

Drawdowns

BITX vs. BFOC - Drawdown Comparison

The maximum BITX drawdown since its inception was -83.08%, which is greater than BFOC's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for BITX and BFOC.

Drawdown Indicators

	BITX	BFOC	Difference
Max Drawdown Largest peak-to-trough decline	-83.08%	-18.41%	-64.67%
Max Drawdown (1Y) Largest decline over 1 year	-83.08%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-83.08%	—	—
Current Drawdown Current decline from peak	-83.08%	-18.22%	-64.86%
Average Drawdown Average peak-to-trough decline	-32.64%	-12.90%	-19.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.73%	—	—

Volatility

Volatility by Period

	BITX	BFOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	69.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	88.09%	12.25%	+75.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	98.17%	12.25%	+85.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	98.17%	12.25%	+85.92%

BITX vs. BFOC - Expense Ratio Comparison

BITX has a 2.38% expense ratio, which is higher than BFOC's 0.90% expense ratio.

Dividends

BITX vs. BFOC - Dividend Comparison

BITX's dividend yield for the trailing twelve months is around 41.63%, while BFOC has not paid dividends to shareholders.

Position	TTM	2025	2024
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	0.00%	0.00%	0.00%
BITX 2x Bitcoin Strategy ETF	41.63%	21.69%	10.70%

Frequently Asked Questions

Can I hold both BITX and BFOC in my portfolio?

BITX and BFOC have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BITX or BFOC?

On fees, BFOC is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BITX or BFOC?

BFOC is cheaper with a 0.90% expense ratio, compared with 2.38% for BITX.

Which ETF pays a higher dividend yield, BITX or BFOC?

BITX has the higher dividend yield at 41.63%, compared with 0.00% for BFOC.

What is the main difference between BITX and BFOC?

BITX is categorized as Cryptocurrency, while BFOC is Defined Outcome. They also come from different issuers: Volatility Shares and First Trust. Their fees differ too: 2.38% for BITX and 0.90% for BFOC.