BPI vs. QDVO

Last updated Jul 21, 2026

BPI (Grayscale Bitcoin Premium Income ETF) and QDVO (Amplify CWP Growth & Income 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 0.56%/yr for QDVO.

Performance

BPI vs. QDVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Premium Income ETF (BPI) and Amplify CWP Growth & Income ETF (QDVO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BPI

• 1D: 1.29%
• 1M: 3.45%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QDVO

• 1D: 0.00%
• 1M: -0.60%
• 6M: 6.85%
• YTD: 7.18%
• 1Y: 16.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.89%

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

BPI vs. QDVO - Yearly Performance Comparison

	2026 (YTD)
BPI Grayscale Bitcoin Premium Income ETF	-13.81%
QDVO Amplify CWP Growth & Income ETF	2.90%

Correlation

The correlation between BPI and QDVO 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

Return for Risk

BPI vs. QDVO — Risk / Return Rank

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

BPI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QDVO

QDVO Risk / Return Rank: 48
QDVO Sharpe Ratio Rank: 50
QDVO Sortino Ratio Rank: 49
QDVO Omega Ratio Rank: 48
QDVO Calmar Ratio Rank: 43
QDVO Martin Ratio Rank: 49

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.

BPI vs. QDVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Premium Income ETF (BPI) and Amplify CWP Growth & Income ETF (QDVO). 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	QDVO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.32	—
Sortino ratio: Return per unit of downside risk	—	1.88	—
Omega ratio: Gain probability vs. loss probability	—	1.23	—
Calmar ratio: Return relative to maximum drawdown	—	1.66	—
Martin ratio: Return relative to average drawdown	—	6.16	—

Drawdowns

BPI vs. QDVO - Drawdown Comparison

The maximum BPI drawdown since its inception was -27.02%, which is greater than QDVO's maximum drawdown of -17.75%. Use the drawdown chart below to compare losses from any high point for BPI and QDVO.

Drawdown Indicators

	BPI	QDVO	Difference
Max Drawdown Largest peak-to-trough decline	-27.02%	-17.75%	-9.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.21%	—
Current Drawdown Current decline from peak	-19.49%	-3.31%	-16.18%
Average Drawdown Average peak-to-trough decline	-14.74%	-2.43%	-12.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.75%	—

Volatility

Volatility by Period

	BPI	QDVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.81%	12.92%	+23.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.81%	17.39%	+19.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.81%	17.39%	+19.42%

BPI vs. QDVO - Expense Ratio Comparison

BPI has a 0.65% expense ratio, which is higher than QDVO's 0.56% expense ratio.

Dividends

BPI vs. QDVO - Dividend Comparison

BPI's dividend yield for the trailing twelve months is around 4.12%, less than QDVO's 10.60% yield.

Position	TTM	2025	2024
BPI Grayscale Bitcoin Premium Income ETF	4.12%	0.00%	0.00%
QDVO Amplify CWP Growth & Income ETF	10.60%	9.92%	2.79%

Frequently Asked Questions

Can I hold both BPI and QDVO in my portfolio?

BPI and QDVO 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.

Which ETF is better, BPI or QDVO?

On fees, QDVO is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BPI or QDVO?

QDVO is cheaper with a 0.56% expense ratio, compared with 0.65% for BPI.

Which ETF pays a higher dividend yield, BPI or QDVO?

QDVO has the higher dividend yield at 10.60%, compared with 4.12% for BPI.

What is the main difference between BPI and QDVO?

They also come from different issuers: Grayscale and Amplify. Their fees differ too: 0.65% for BPI and 0.56% for QDVO.