BTCC vs. SCUS

Last updated Aug 2, 2026

BTCC (Grayscale Bitcoin Covered Call ETF) and SCUS (Schwab Ultra-Short Income ETF) are both exchange-traded funds - BTCC is a Cryptocurrency fund actively managed by Grayscale, while SCUS is a Ultrashort Bond fund actively managed by Charles Schwab. Both are actively managed. Over the past year, BTCC returned -35.46% vs 3.86% for SCUS. Their -0.11 correlation means they have often moved in opposite directions in the past. BTCC charges 0.66%/yr vs 0.14%/yr for SCUS.

Performance

BTCC vs. SCUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Covered Call ETF (BTCC) and Schwab Ultra-Short Income ETF (SCUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCC achieves a -19.94% return, which is significantly lower than SCUS's 2.02% return.

BTCC

• 1D: -0.69%
• 1M: 5.47%
• 6M: -16.63%
• YTD: -19.94%
• 1Y: -35.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -19.31%

SCUS

• 1D: 0.06%
• 1M: 0.36%
• 6M: 1.74%
• YTD: 2.02%
• 1Y: 3.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.37%

*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)
BTCC Grayscale Bitcoin Covered Call ETF	$238.99K	$251.72K	$278.51K
SCUS Schwab Ultra-Short Income ETF	$2.59M	$2.50M	$2.92M

BTCC vs. SCUS - Yearly Performance Comparison

	2026 (YTD)	2025
BTCC Grayscale Bitcoin Covered Call ETF	-19.94%	-6.05%
SCUS Schwab Ultra-Short Income ETF	2.02%	3.42%

Correlation

The correlation between BTCC and SCUS is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.12
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	-0.11

Return for Risk

BTCC vs. SCUS — Risk / Return Rank

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

BTCC

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

SCUS

SCUS Risk / Return Rank: 99
SCUS Sharpe Ratio Rank: 99
SCUS Sortino Ratio Rank: 99
SCUS Omega Ratio Rank: 99
SCUS Calmar Ratio Rank: 99
SCUS Martin Ratio Rank: 99

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.

BTCC vs. SCUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Covered Call ETF (BTCC) and Schwab Ultra-Short Income ETF (SCUS). 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.

	BTCC	SCUS	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	5.76	-6.83
Sortino ratio: Return per unit of downside risk	-1.45	10.88	-12.33
Omega ratio: Gain probability vs. loss probability	0.81	2.53	-1.72
Calmar ratio: Return relative to maximum drawdown	-0.83	23.81	-24.64
Martin ratio: Return relative to average drawdown	-1.31	100.29	-101.60

BTCC vs. SCUS - Sharpe Ratio Comparison

The current BTCC Sharpe Ratio is -1.07, which is lower than the SCUS Sharpe Ratio of 5.76. The chart below compares the historical Sharpe Ratios of BTCC and SCUS, 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

BTCC vs. SCUS - Drawdown Comparison

The maximum BTCC drawdown since its inception was -44.40%, which is greater than SCUS's maximum drawdown of -0.17%. Use the drawdown chart below to compare losses from any high point for BTCC and SCUS.

Drawdown Indicators

	BTCC	SCUS	Difference
Max Drawdown Largest peak-to-trough decline	-44.40%	-0.17%	-44.23%
Max Drawdown (1Y) Largest decline over 1 year	-44.40%	-0.17%	-44.23%
Current Drawdown Current decline from peak	-38.77%	0.00%	-38.77%
Average Drawdown Average peak-to-trough decline	-18.52%	-0.02%	-18.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.01%	0.04%	+27.97%

Volatility

BTCC vs. SCUS - Volatility Comparison

Grayscale Bitcoin Covered Call ETF (BTCC) has a higher volatility of 5.14% compared to Schwab Ultra-Short Income ETF (SCUS) at 0.20%. This indicates that BTCC's price experiences larger fluctuations and is considered to be riskier than SCUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCC	SCUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	0.20%	+4.94%
Volatility (6M) Calculated over the trailing 6-month period	27.56%	0.52%	+27.04%
Volatility (1Y) Calculated over the trailing 1-year period	34.34%	0.69%	+33.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.34%	0.70%	+30.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.34%	0.70%	+30.64%

BTCC vs. SCUS - Expense Ratio Comparison

BTCC has a 0.66% expense ratio, which is higher than SCUS's 0.14% expense ratio.

Dividends

BTCC vs. SCUS - Dividend Comparison

BTCC's dividend yield for the trailing twelve months is around 90.56%, more than SCUS's 3.89% yield.

Position	TTM	2025	2024
BTCC Grayscale Bitcoin Covered Call ETF	90.56%	63.86%	0.00%
SCUS Schwab Ultra-Short Income ETF	3.51%	4.17%	1.62%

Frequently Asked Questions

Can I hold both BTCC and SCUS in my portfolio?

BTCC and SCUS have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTCC or SCUS?

BTCC has higher volatility (5.14%) compared to SCUS (0.20%). In terms of maximum drawdown, BTCC dropped -44.40% vs SCUS's -0.17%.

Which ETF is better, BTCC or SCUS?

On 1-year performance, SCUS leads with 3.86% vs -35.46% for BTCC. On fees, SCUS is cheaper at 0.14% per year. On volatility, SCUS has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCC or SCUS?

Over the 1-year period, SCUS has performed better with a 3.86% return vs -35.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCC or SCUS?

SCUS is cheaper with a 0.14% expense ratio, compared with 0.66% for BTCC.

Which ETF pays a higher dividend yield, BTCC or SCUS?

BTCC has the higher dividend yield at 90.56%, compared with 3.51% for SCUS.

What is the main difference between BTCC and SCUS?

BTCC is categorized as Cryptocurrency, while SCUS is Ultrashort Bond. They also come from different issuers: Grayscale and Charles Schwab. Their fees differ too: 0.66% for BTCC and 0.14% for SCUS.

Which has better risk-adjusted returns?

SCUS currently has the higher Sharpe Ratio (5.76 vs -1.07), 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.