BPI vs. GOOY
BPI (Grayscale Bitcoin Premium Income ETF) and GOOY (YieldMax GOOGL Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. At a 0.10 correlation, their price movements are largely independent. BPI charges 0.65%/yr vs 0.99%/yr for GOOY.
Performance
BPI vs. GOOY - Performance Comparison
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Returns By Period
BPI
- 1D
- 1.02%
- 1M
- -17.13%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOOY
- 1D
- 4.36%
- 1M
- -6.82%
- YTD
- 11.48%
- 6M
- 11.18%
- 1Y
- 75.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BPI vs. GOOY - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BPI Grayscale Bitcoin Premium Income ETF | -19.78% |
GOOY YieldMax GOOGL Option Income Strategy ETF | -0.21% |
Correlation
The correlation between BPI and GOOY is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026 | 0.10 |
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Return for Risk
BPI vs. GOOY — Risk / Return Rank
BPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GOOY
BPI vs. GOOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Premium Income ETF (BPI) and YieldMax GOOGL Option Income Strategy ETF (GOOY). 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 | GOOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.54 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.71 | — |
| Martin ratioReturn relative to average drawdown | — | 15.85 | — |
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Drawdowns
BPI vs. GOOY - Drawdown Comparison
The maximum BPI drawdown since its inception was -26.45%, which is greater than GOOY's maximum drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for BPI and GOOY.
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Drawdown Indicators
| BPI | GOOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.45% | -24.40% | -2.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -16.15% | — |
Current DrawdownCurrent decline from peak | -25.06% | -10.33% | -14.73% |
Average DrawdownAverage peak-to-trough decline | -12.33% | -6.31% | -6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.79% | — |
Volatility
BPI vs. GOOY - Volatility Comparison
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Volatility by Period
| BPI | GOOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.35% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 18.26% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 37.13% | 24.01% | +13.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.13% | 23.53% | +13.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.13% | 23.53% | +13.60% |
BPI vs. GOOY - Expense Ratio Comparison
BPI has a 0.65% expense ratio, which is lower than GOOY's 0.99% expense ratio.
Dividends
BPI vs. GOOY - Dividend Comparison
BPI's dividend yield for the trailing twelve months is around 3.52%, less than GOOY's 52.69% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BPI Grayscale Bitcoin Premium Income ETF | 3.52% | 0.00% | 0.00% | 0.00% |
GOOY YieldMax GOOGL Option Income Strategy ETF | 52.69% | 41.50% | 36.74% | 7.90% |
Frequently Asked Questions
BPI and GOOY have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BPI is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BPI is cheaper with a 0.65% expense ratio, compared with 0.99% for GOOY.
GOOY has the higher dividend yield at 52.69%, compared with 3.52% for BPI.
They also come from different issuers: Grayscale and YieldMax. Their fees differ too: 0.65% for BPI and 0.99% for GOOY.
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