BITY vs. BITB

Last updated Jun 23, 2026

BITY (Amplify Bitcoin 2% Monthly Option Income ETF) and BITB (Bitwise Bitcoin ETF) are both exchange-traded funds - BITY is a Derivative Income fund actively managed by Amplify, while BITB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. BITY is actively managed, while BITB is passively managed. Over the past year, BITY returned -36.66% vs -37.80% for BITB. With a 0.99 correlation, they move nearly in lockstep. BITY charges 0.65%/yr vs 0.20%/yr for BITB.

Performance

BITY vs. BITB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and Bitwise Bitcoin ETF (BITB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITY achieves a -23.61% return, which is significantly higher than BITB's -26.47% return.

BITY

• 1D: 2.79%
• 1M: -14.93%
• YTD: -23.61%
• 6M: -24.22%
• 1Y: -36.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITB

• 1D: 2.46%
• 1M: -15.00%
• YTD: -26.47%
• 6M: -27.10%
• 1Y: -37.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITY vs. BITB - Yearly Performance Comparison

	2026 (YTD)	2025
BITY Amplify Bitcoin 2% Monthly Option Income ETF	-23.61%	-7.84%
BITB Bitwise Bitcoin ETF	-26.47%	-7.81%

Correlation

The correlation between BITY and BITB is 0.99 - 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 (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.99

The correlation between BITY and BITB has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

BITY vs. BITB — Risk / Return Rank

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

BITY

BITY Risk / Return Rank: 2
BITY Sharpe Ratio Rank: 2
BITY Sortino Ratio Rank: 2
BITY Omega Ratio Rank: 2
BITY Calmar Ratio Rank: 3
BITY Martin Ratio Rank: 2

BITB

BITB Risk / Return Rank: 3
BITB Sharpe Ratio Rank: 2
BITB Sortino Ratio Rank: 2
BITB Omega Ratio Rank: 3
BITB Calmar Ratio Rank: 3
BITB Martin Ratio Rank: 3

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.

BITY vs. BITB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and Bitwise Bitcoin ETF (BITB). 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.

	BITY	BITB	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	-0.86	-0.04
Sortino ratio: Return per unit of downside risk	-1.22	-1.17	-0.06
Omega ratio: Gain probability vs. loss probability	0.86	0.87	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.73	-0.73	-0.01
Martin ratio: Return relative to average drawdown	-1.29	-1.25	-0.05

BITY vs. BITB - Sharpe Ratio Comparison

The current BITY Sharpe Ratio is -0.90, which is comparable to the BITB Sharpe Ratio of -0.86. The chart below compares the historical Sharpe Ratios of BITY and BITB, 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

BITY vs. BITB - Drawdown Comparison

The maximum BITY drawdown since its inception was -50.04%, roughly equal to the maximum BITB drawdown of -52.04%. Use the drawdown chart below to compare losses from any high point for BITY and BITB.

Drawdown Indicators

	BITY	BITB	Difference
Max Drawdown Largest peak-to-trough decline	-50.04%	-52.04%	+2.00%
Max Drawdown (1Y) Largest decline over 1 year	-50.04%	-52.04%	+2.00%
Current Drawdown Current decline from peak	-45.85%	-48.78%	+2.93%
Average Drawdown Average peak-to-trough decline	-20.74%	-16.80%	-3.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.39%	30.39%	-2.00%

Volatility

BITY vs. BITB - Volatility Comparison

Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and Bitwise Bitcoin ETF (BITB) have volatilities of 13.51% and 12.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITY	BITB	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.51%	12.90%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	31.74%	34.47%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	40.98%	44.18%	-3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.46%	50.00%	-10.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.46%	50.00%	-10.54%

BITY vs. BITB - Expense Ratio Comparison

BITY has a 0.65% expense ratio, which is higher than BITB's 0.20% expense ratio.

Dividends

BITY vs. BITB - Dividend Comparison

BITY's dividend yield for the trailing twelve months is around 39.92%, while BITB has not paid dividends to shareholders.

Position	TTM	2025
BITB Bitwise Bitcoin ETF	0.00%	0.00%
BITY Amplify Bitcoin 2% Monthly Option Income ETF	39.92%	21.53%

Frequently Asked Questions

Can I hold both BITY and BITB in my portfolio?

With a correlation of 0.99, BITY and BITB 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 is riskier, BITY or BITB?

BITY has higher volatility (13.51%) compared to BITB (12.90%). In terms of maximum drawdown, BITY dropped -50.04% vs BITB's -52.04%.

Which ETF is better, BITY or BITB?

On 1-year performance, BITY leads with -36.66% vs -37.80% for BITB. On fees, BITB is cheaper at 0.20% per year. On volatility, BITB has been the lower-risk option at 12.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITY or BITB?

Over the 1-year period, BITY has performed better with a -36.66% return vs -37.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITY or BITB?

BITB is cheaper with a 0.20% expense ratio, compared with 0.65% for BITY.

Which ETF pays a higher dividend yield, BITY or BITB?

BITY has the higher dividend yield at 39.92%, compared with 0.00% for BITB.

What is the main difference between BITY and BITB?

BITY is categorized as Derivative Income, while BITB is Cryptocurrency. They also come from different issuers: Amplify and Bitwise Asset Management. Their fees differ too: 0.65% for BITY and 0.20% for BITB.

Which has better risk-adjusted returns?

BITB currently has the higher Sharpe Ratio (-0.86 vs -0.90), 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.