BTCC vs. YBIT

Last updated Jun 4, 2026

BTCC (Grayscale Bitcoin Covered Call ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BTCC returned -33.54% vs -35.27% for YBIT. Their correlation of 0.91 suggests significant overlap in exposure. BTCC charges 0.66%/yr vs 0.99%/yr for YBIT.

Performance

BTCC vs. YBIT - Performance Comparison

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

Returns By Period

In the year-to-date period, BTCC achieves a -20.81% return, which is significantly higher than YBIT's -24.59% return.

BTCC

• 1D: -2.53%
• 1M: -15.87%
• YTD: -20.81%
• 6M: -22.94%
• 1Y: -33.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YBIT

• 1D: -2.50%
• 1M: -15.67%
• YTD: -24.59%
• 6M: -27.08%
• 1Y: -35.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCC vs. YBIT - Yearly Performance Comparison

	2026 (YTD)	2025
BTCC Grayscale Bitcoin Covered Call ETF	-20.81%	-6.34%
YBIT YieldMax Bitcoin Option Income Strategy ETF	-24.59%	2.97%

Correlation

The correlation between BTCC and YBIT is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.91

The correlation between BTCC and YBIT has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

BTCC vs. YBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 3
BTCC Martin Ratio Rank: 1

YBIT

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

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.

BTCC vs. YBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Covered Call ETF (BTCC) and YieldMax Bitcoin Option Income Strategy ETF (YBIT). 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	YBIT	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	-0.98	-0.04
Sortino ratio: Return per unit of downside risk	-1.34	-1.35	+0.01
Omega ratio: Gain probability vs. loss probability	0.82	0.84	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.76	-0.78	+0.02
Martin ratio: Return relative to average drawdown	-1.47	-1.43	-0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCC vs. YBIT - Sharpe Ratio Comparison

The current BTCC Sharpe Ratio is -1.02, which is comparable to the YBIT Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of BTCC and YBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTCC	YBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	-0.98	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	-0.72	-0.35	-0.36

Drawdowns

BTCC vs. YBIT - Drawdown Comparison

The maximum BTCC drawdown since its inception was -44.40%, roughly equal to the maximum YBIT drawdown of -45.54%. Use the drawdown chart below to compare losses from any high point for BTCC and YBIT.

Drawdown Indicators

	BTCC	YBIT	Difference
Max Drawdown Largest peak-to-trough decline	-44.40%	-45.54%	+1.14%
Max Drawdown (1Y) Largest decline over 1 year	-44.40%	-45.54%	+1.14%
Current Drawdown Current decline from peak	-39.44%	-43.10%	+3.66%
Average Drawdown Average peak-to-trough decline	-15.57%	-15.12%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.87%	24.69%	-1.82%

Volatility

BTCC vs. YBIT - Volatility Comparison

Grayscale Bitcoin Covered Call ETF (BTCC) has a higher volatility of 8.70% compared to YieldMax Bitcoin Option Income Strategy ETF (YBIT) at 7.77%. This indicates that BTCC's price experiences larger fluctuations and is considered to be riskier than YBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCC	YBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.70%	7.77%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	27.70%	29.10%	-1.40%
Volatility (1Y) Calculated over the trailing 1-year period	32.92%	36.10%	-3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.68%	38.63%	-6.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.68%	38.63%	-6.95%

BTCC vs. YBIT - Expense Ratio Comparison

BTCC has a 0.66% expense ratio, which is lower than YBIT's 0.99% expense ratio.

Dividends

BTCC vs. YBIT - Dividend Comparison

BTCC's dividend yield for the trailing twelve months is around 105.03%, more than YBIT's 101.02% yield.

Position	TTM	2025	2024
BTCC Grayscale Bitcoin Covered Call ETF	105.03%	63.86%	0.00%
YBIT YieldMax Bitcoin Option Income Strategy ETF	101.02%	88.33%	60.00%

Frequently Asked Questions

Can I hold both BTCC and YBIT in my portfolio?

With a correlation of 0.94, BTCC and YBIT 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, BTCC or YBIT?

BTCC has higher volatility (8.70%) compared to YBIT (7.77%). In terms of maximum drawdown, BTCC dropped -44.40% vs YBIT's -45.54%.

Which ETF is better, BTCC or YBIT?

On 1-year performance, BTCC leads with -33.54% vs -35.27% for YBIT. On fees, BTCC is cheaper at 0.66% per year. On volatility, YBIT has been the lower-risk option at 7.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCC or YBIT?

Over the 1-year period, BTCC has performed better with a -33.54% return vs -35.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCC or YBIT?

BTCC is cheaper with a 0.66% expense ratio, compared with 0.99% for YBIT.

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

BTCC has the higher dividend yield at 105.03%, compared with 101.02% for YBIT.

What is the main difference between BTCC and YBIT?

They also come from different issuers: Grayscale and YieldMax. Their fees differ too: 0.66% for BTCC and 0.99% for YBIT.

Which has better risk-adjusted returns?

YBIT currently has the higher Sharpe Ratio (-0.98 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.