BPI vs. FYEE
BPI (Grayscale Bitcoin Premium Income ETF) and FYEE (Fidelity Yield Enhanced Equity ETF) are both Derivative Income funds. Both are actively managed. At a 0.45 correlation, their price movements are largely independent. BPI charges 0.65%/yr vs 0.28%/yr for FYEE.
Performance
BPI vs. FYEE - Performance Comparison
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Returns By Period
BPI
- 1D
- 1.02%
- 1M
- -17.13%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FYEE
- 1D
- 0.90%
- 1M
- -1.16%
- YTD
- 5.79%
- 6M
- 5.16%
- 1Y
- 19.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BPI vs. FYEE - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BPI Grayscale Bitcoin Premium Income ETF | -19.78% |
FYEE Fidelity Yield Enhanced Equity ETF | 2.99% |
Correlation
The correlation between BPI and FYEE is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026 | 0.45 |
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Return for Risk
BPI vs. FYEE — Risk / Return Rank
BPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FYEE
BPI vs. FYEE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Premium Income ETF (BPI) and Fidelity Yield Enhanced Equity ETF (FYEE). 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.
| BPI | FYEE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.38 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.67 | — |
| Martin ratioReturn relative to average drawdown | — | 12.87 | — |
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Drawdowns
BPI vs. FYEE - Drawdown Comparison
The maximum BPI drawdown since its inception was -26.45%, which is greater than FYEE's maximum drawdown of -18.79%. Use the drawdown chart below to compare losses from any high point for BPI and FYEE.
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Drawdown Indicators
| BPI | FYEE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.45% | -18.79% | -7.66% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.39% | — |
Current DrawdownCurrent decline from peak | -25.06% | -1.46% | -23.60% |
Average DrawdownAverage peak-to-trough decline | -12.33% | -2.23% | -10.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.53% | — |
Volatility
BPI vs. FYEE - Volatility Comparison
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Volatility by Period
| BPI | FYEE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.18% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.12% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 37.13% | 10.29% | +26.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.13% | 13.89% | +23.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.13% | 13.89% | +23.24% |
BPI vs. FYEE - Expense Ratio Comparison
BPI has a 0.65% expense ratio, which is higher than FYEE's 0.28% expense ratio.
Dividends
BPI vs. FYEE - Dividend Comparison
BPI's dividend yield for the trailing twelve months is around 3.52%, less than FYEE's 8.59% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BPI Grayscale Bitcoin Premium Income ETF | 3.52% | 0.00% | 0.00% |
FYEE Fidelity Yield Enhanced Equity ETF | 8.59% | 7.08% | 5.45% |
Frequently Asked Questions
BPI and FYEE have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FYEE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FYEE is cheaper with a 0.28% expense ratio, compared with 0.65% for BPI.
FYEE has the higher dividend yield at 8.59%, compared with 3.52% for BPI.
They also come from different issuers: Grayscale and Fidelity. Their fees differ too: 0.65% for BPI and 0.28% for FYEE.
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