BITY vs. HODL
BITY (Amplify Bitcoin 2% Monthly Option Income ETF) and HODL (VanEck Bitcoin Trust) are both exchange-traded funds - BITY is a Derivative Income fund actively managed by Amplify, while HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. BITY is actively managed, while HODL is passively managed. Over the past year, BITY returned -37.35% vs -38.56% for HODL. With a 0.99 correlation, they move nearly in lockstep. BITY charges 0.65%/yr vs 0.25%/yr for HODL.
Performance
BITY vs. HODL - Performance Comparison
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Returns By Period
In the year-to-date period, BITY achieves a -23.09% return, which is significantly higher than HODL's -25.27% return.
BITY
- 1D
- -2.61%
- 1M
- -19.63%
- YTD
- -23.09%
- 6M
- -26.69%
- 1Y
- -37.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HODL
- 1D
- -2.79%
- 1M
- -18.34%
- YTD
- -25.27%
- 6M
- -29.73%
- 1Y
- -38.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITY vs. HODL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BITY Amplify Bitcoin 2% Monthly Option Income ETF | -23.09% | -8.21% |
HODL VanEck Bitcoin Trust | -25.27% | -8.34% |
Correlation
The correlation between BITY and HODL 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 30, 2025 | 0.99 |
The correlation between BITY and HODL has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
BITY vs. HODL — Risk / Return Rank
BITY
HODL
BITY vs. HODL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and VanEck Bitcoin Trust (HODL). 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.
| BITY | HODL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.86 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.79 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.41 | -1.36 | -0.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITY | HODL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.94 | -0.89 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.70 | 0.30 | -1.00 |
Drawdowns
BITY vs. HODL - Drawdown Comparison
The maximum BITY drawdown since its inception was -46.36%, smaller than the maximum HODL drawdown of -49.25%. Use the drawdown chart below to compare losses from any high point for BITY and HODL.
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Drawdown Indicators
| BITY | HODL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.36% | -49.25% | +2.89% |
Max Drawdown (1Y)Largest decline over 1 year | -46.36% | -49.25% | +2.89% |
Current DrawdownCurrent decline from peak | -45.49% | -47.93% | +2.44% |
Average DrawdownAverage peak-to-trough decline | -19.67% | -15.97% | -3.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.48% | 28.35% | -1.87% |
Volatility
BITY vs. HODL - Volatility Comparison
Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and VanEck Bitcoin Trust (HODL) have volatilities of 9.68% and 9.43%, 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.
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Volatility by Period
| BITY | HODL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.68% | 9.43% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 31.24% | 34.37% | -3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.94% | 43.51% | -3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.02% | 49.88% | -10.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.02% | 49.88% | -10.86% |
BITY vs. HODL - Expense Ratio Comparison
BITY has a 0.65% expense ratio, which is higher than HODL's 0.25% expense ratio.
Dividends
BITY vs. HODL - Dividend Comparison
BITY's dividend yield for the trailing twelve months is around 39.66%, while HODL has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BITY Amplify Bitcoin 2% Monthly Option Income ETF | 39.66% | 21.53% |
HODL VanEck Bitcoin Trust | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, BITY and HODL 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.
BITY has higher volatility (9.68%) compared to HODL (9.43%). In terms of maximum drawdown, BITY dropped -46.36% vs HODL's -49.25%.
On 1-year performance, BITY leads with -37.35% vs -38.56% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, HODL has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BITY has performed better with a -37.35% return vs -38.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HODL is cheaper with a 0.25% expense ratio, compared with 0.65% for BITY.
BITY has the higher dividend yield at 39.66%, compared with 0.00% for HODL.
BITY is categorized as Derivative Income, while HODL is Cryptocurrency. They also come from different issuers: Amplify and VanEck. Their fees differ too: 0.65% for BITY and 0.25% for HODL.
HODL currently has the higher Sharpe Ratio (-0.89 vs -0.94), 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.
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