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 -38.86% vs -39.68% 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 -26.32% return, which is significantly higher than HODL's -28.75% return.
BITY
- 1D
- -3.55%
- 1M
- -17.96%
- YTD
- -26.32%
- 6M
- -26.36%
- 1Y
- -38.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HODL
- 1D
- -3.24%
- 1M
- -17.82%
- YTD
- -28.75%
- 6M
- -28.92%
- 1Y
- -39.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITY vs. HODL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BITY Amplify Bitcoin 2% Monthly Option Income ETF | -26.32% | -7.84% |
HODL VanEck Bitcoin Trust | -28.75% | -7.79% |
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 29, 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.
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 | 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 | -0.78 | -0.77 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.30 | -0.06 |
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Drawdowns
BITY vs. HODL - Drawdown Comparison
The maximum BITY drawdown since its inception was -50.04%, roughly equal to the maximum HODL drawdown of -51.96%. 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 | -50.04% | -51.96% | +1.92% |
Max Drawdown (1Y)Largest decline over 1 year | -50.04% | -51.96% | +1.92% |
Current DrawdownCurrent decline from peak | -47.77% | -50.35% | +2.58% |
Average DrawdownAverage peak-to-trough decline | -20.84% | -16.78% | -4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.55% | 30.49% | -1.94% |
Volatility
BITY vs. HODL - Volatility Comparison
Amplify Bitcoin 2% Monthly Option Income ETF (BITY) has a higher volatility of 13.74% compared to VanEck Bitcoin Trust (HODL) at 13.07%. This indicates that BITY's price experiences larger fluctuations and is considered to be riskier than HODL based on this measure. 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 | 13.74% | 13.07% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 31.91% | 34.59% | -2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.04% | 44.11% | -3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.52% | 49.89% | -10.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.52% | 49.89% | -10.37% |
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 41.39%, while HODL has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BITY Amplify Bitcoin 2% Monthly Option Income ETF | 41.39% | 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 (13.74%) compared to HODL (13.07%). In terms of maximum drawdown, BITY dropped -50.04% vs HODL's -51.96%.
On 1-year performance, BITY leads with -38.86% vs -39.68% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, HODL has been the lower-risk option at 13.07%. 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 -38.86% return vs -39.68%. 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 41.39%, 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 (-0.90 vs -0.95), 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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