BRRR vs. BFAP

Last updated Aug 2, 2026

BRRR (CoinShares Bitcoin ETF) and BFAP (FT Vest Bitcoin Strategy Floor15 ETF - April) are both Cryptocurrency funds. BRRR is passively managed, while BFAP is actively managed. Over the past year, BRRR returned -44.57% vs -29.23% for BFAP. Their 0.96 correlation means they have historically moved very closely together. BRRR charges 0.25%/yr vs 0.90%/yr for BFAP.

Performance

BRRR vs. BFAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CoinShares Bitcoin ETF (BRRR) and FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRRR achieves a -28.35% return, which is significantly lower than BFAP's -22.20% return.

BRRR

• 1D: -2.90%
• 1M: 2.25%
• 6M: -25.04%
• YTD: -28.35%
• 1Y: -44.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.37%

BFAP

• 1D: -1.67%
• 1M: 0.67%
• 6M: -19.71%
• YTD: -22.20%
• 1Y: -29.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -11.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	$15.29K	$12.55K	$25.30K
BRRR CoinShares Bitcoin ETF	$1.03M	$1.49M	$3.69M

BRRR vs. BFAP - Yearly Performance Comparison

	2026 (YTD)	2025
BRRR CoinShares Bitcoin ETF	-28.35%	6.73%
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	-22.20%	8.90%

Correlation

The correlation between BRRR and BFAP is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.96

The correlation between BRRR and BFAP has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

BRRR vs. BFAP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BRRR

BRRR Risk / Return Rank: 1
BRRR Sharpe Ratio Rank: 1
BRRR Sortino Ratio Rank: 1
BRRR Omega Ratio Rank: 2
BRRR Calmar Ratio Rank: 2
BRRR Martin Ratio Rank: 2

BFAP

BFAP Risk / Return Rank: 1
BFAP Sharpe Ratio Rank: 0
BFAP Sortino Ratio Rank: 1
BFAP Omega Ratio Rank: 0
BFAP Calmar Ratio Rank: 2
BFAP Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BRRR vs. BFAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoinShares Bitcoin ETF (BRRR) and FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP). 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.

	BRRR	BFAP	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-1.40	+0.35
Sortino ratio: Return per unit of downside risk	-1.59	-2.00	+0.41
Omega ratio: Gain probability vs. loss probability	0.83	0.77	+0.06
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.88	+0.01
Martin ratio: Return relative to average drawdown	-1.34	-1.42	+0.08

BRRR vs. BFAP - Sharpe Ratio Comparison

The current BRRR Sharpe Ratio is -1.05, which is comparable to the BFAP Sharpe Ratio of -1.40. The chart below compares the historical Sharpe Ratios of BRRR and BFAP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BRRR vs. BFAP - Drawdown Comparison

The maximum BRRR drawdown since its inception was -53.33%, which is greater than BFAP's maximum drawdown of -34.15%. Use the drawdown chart below to compare losses from any high point for BRRR and BFAP.

Drawdown Indicators

	BRRR	BFAP	Difference
Max Drawdown Largest peak-to-trough decline	-53.33%	-34.15%	-19.18%
Max Drawdown (1Y) Largest decline over 1 year	-53.33%	-34.15%	-19.18%
Current Drawdown Current decline from peak	-50.03%	-32.39%	-17.64%
Average Drawdown Average peak-to-trough decline	-18.26%	-13.30%	-4.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.63%	21.18%	+13.45%

Volatility

BRRR vs. BFAP - Volatility Comparison

CoinShares Bitcoin ETF (BRRR) has a higher volatility of 9.11% compared to FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) at 4.04%. This indicates that BRRR's price experiences larger fluctuations and is considered to be riskier than BFAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRRR	BFAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.11%	4.04%	+5.07%
Volatility (6M) Calculated over the trailing 6-month period	33.76%	14.75%	+19.01%
Volatility (1Y) Calculated over the trailing 1-year period	44.35%	21.58%	+22.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.36%	20.02%	+29.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.36%	20.02%	+29.34%

BRRR vs. BFAP - Expense Ratio Comparison

BRRR has a 0.25% expense ratio, which is lower than BFAP's 0.90% expense ratio.

Dividends

BRRR vs. BFAP - Dividend Comparison

BRRR has not paid dividends to shareholders, while BFAP's dividend yield for the trailing twelve months is around 24.39%.

Position	TTM	2025
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	24.39%	18.97%
BRRR CoinShares Bitcoin ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BRRR and BFAP in my portfolio?

With a correlation of 0.97, BRRR and BFAP 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.

Which is riskier, BRRR or BFAP?

BRRR has higher volatility (9.11%) compared to BFAP (4.04%). In terms of maximum drawdown, BRRR dropped -53.33% vs BFAP's -34.15%.

Which ETF is better, BRRR or BFAP?

On 1-year performance, BFAP leads with -29.23% vs -44.57% for BRRR. On fees, BRRR is cheaper at 0.25% per year. On volatility, BFAP has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRRR or BFAP?

Over the 1-year period, BFAP has performed better with a -29.23% return vs -44.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRRR or BFAP?

BRRR is cheaper with a 0.25% expense ratio, compared with 0.90% for BFAP.

Which ETF pays a higher dividend yield, BRRR or BFAP?

BFAP has the higher dividend yield at 24.39%, compared with 0.00% for BRRR.

What is the main difference between BRRR and BFAP?

They also come from different issuers: CoinShares and First Trust. Their fees differ too: 0.25% for BRRR and 0.90% for BFAP.

Which has better risk-adjusted returns?

BRRR currently has the higher Sharpe Ratio (-1.05 vs -1.40), 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.