BTCC vs. BSCQ
BTCC (Grayscale Bitcoin Covered Call ETF) and BSCQ (Invesco BulletShares 2026 Corporate Bond ETF) are both exchange-traded funds - BTCC is a Cryptocurrency fund actively managed by Grayscale, while BSCQ is a Corporate Bonds fund tracking the NASDAQ BulletShares USD Corporate Bond 2026 Index. BTCC is actively managed, while BSCQ is passively managed. Over the past year, BTCC returned -33.54% vs 4.41% for BSCQ. At a correlation of -0.08, they often move in opposite directions. BTCC charges 0.66%/yr vs 0.10%/yr for BSCQ.
Performance
BTCC vs. BSCQ - Performance Comparison
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Returns By Period
In the year-to-date period, BTCC achieves a -20.81% return, which is significantly lower than BSCQ's 1.55% return.
BTCC
- 1D
- -2.53%
- 1M
- -15.87%
- YTD
- -20.81%
- 6M
- -22.94%
- 1Y
- -33.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSCQ
- 1D
- 0.08%
- 1M
- 0.34%
- YTD
- 1.55%
- 6M
- 1.92%
- 1Y
- 4.41%
- 3Y*
- 5.06%
- 5Y*
- 1.47%
- 10Y*
- —
BTCC vs. BSCQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTCC Grayscale Bitcoin Covered Call ETF | -20.81% | -6.34% |
BSCQ Invesco BulletShares 2026 Corporate Bond ETF | 1.55% | 3.62% |
Correlation
The correlation between BTCC and BSCQ is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | -0.08 |
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Return for Risk
BTCC vs. BSCQ — Risk / Return Rank
BTCC
BSCQ
BTCC vs. BSCQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Covered Call ETF (BTCC) and Invesco BulletShares 2026 Corporate Bond ETF (BSCQ). 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.
| BTCC | BSCQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.08 | ||
| Sortino ratioReturn per unit of downside risk | -16.56 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 3.45 | -2.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 43.24 | -43.99 |
| Martin ratioReturn relative to average drawdown | -1.47 | 179.65 | -181.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTCC | BSCQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.02 | 7.06 | -8.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.72 | 0.60 | -1.32 |
Drawdowns
BTCC vs. BSCQ - Drawdown Comparison
The maximum BTCC drawdown since its inception was -44.40%, which is greater than BSCQ's maximum drawdown of -16.50%. Use the drawdown chart below to compare losses from any high point for BTCC and BSCQ.
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Drawdown Indicators
| BTCC | BSCQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.40% | -16.50% | -27.90% |
Max Drawdown (1Y)Largest decline over 1 year | -44.40% | -0.10% | -44.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.02% | — |
Current DrawdownCurrent decline from peak | -39.44% | 0.00% | -39.44% |
Average DrawdownAverage peak-to-trough decline | -15.57% | -2.85% | -12.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.87% | 0.02% | +22.85% |
Volatility
BTCC vs. BSCQ - Volatility Comparison
Grayscale Bitcoin Covered Call ETF (BTCC) has a higher volatility of 8.70% compared to Invesco BulletShares 2026 Corporate Bond ETF (BSCQ) at 0.17%. This indicates that BTCC's price experiences larger fluctuations and is considered to be riskier than BSCQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCC | BSCQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.70% | 0.17% | +8.53% |
Volatility (6M)Calculated over the trailing 6-month period | 27.70% | 0.43% | +27.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.92% | 0.63% | +32.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.68% | 3.30% | +28.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.68% | 4.77% | +26.91% |
BTCC vs. BSCQ - Expense Ratio Comparison
BTCC has a 0.66% expense ratio, which is higher than BSCQ's 0.10% expense ratio.
Dividends
BTCC vs. BSCQ - Dividend Comparison
BTCC's dividend yield for the trailing twelve months is around 105.03%, more than BSCQ's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BSCQ Invesco BulletShares 2026 Corporate Bond ETF | 4.12% | 4.14% | 4.05% | 3.53% | 2.54% | 1.91% | 2.42% | 2.96% | 3.32% | 2.92% | 0.51% |
BTCC Grayscale Bitcoin Covered Call ETF | 105.03% | 63.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCC and BSCQ 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.
BTCC has higher volatility (8.70%) compared to BSCQ (0.17%). In terms of maximum drawdown, BTCC dropped -44.40% vs BSCQ's -16.50%.
On 1-year performance, BSCQ leads with 4.41% vs -33.54% for BTCC. On fees, BSCQ is cheaper at 0.10% per year. On volatility, BSCQ has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BSCQ has performed better with a 4.41% return vs -33.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSCQ is cheaper with a 0.10% expense ratio, compared with 0.66% for BTCC.
BTCC has the higher dividend yield at 105.03%, compared with 4.12% for BSCQ.
BTCC is categorized as Cryptocurrency, while BSCQ is Corporate Bonds. They also come from different issuers: Grayscale and Invesco. Their fees differ too: 0.66% for BTCC and 0.10% for BSCQ.
BSCQ currently has the higher Sharpe Ratio (7.06 vs -1.02), 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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