BTCI vs. ETH

Last updated Jul 14, 2026

BTCI (NEOS Bitcoin High Income ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BTCI returned -42.24% vs -40.47% for ETH. Their correlation of 0.82 suggests significant overlap in exposure. BTCI charges 0.99%/yr vs 0.15%/yr for ETH.

Performance

BTCI vs. ETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Bitcoin High Income ETF (BTCI) and Grayscale Ethereum Staking Mini ETF (ETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCI achieves a -26.61% return, which is significantly higher than ETH's -39.81% return.

BTCI

• 1D: -2.06%
• 1M: -2.74%
• 6M: -29.51%
• YTD: -26.61%
• 1Y: -42.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETH

• 1D: -1.05%
• 1M: 6.70%
• 6M: -42.37%
• YTD: -39.81%
• 1Y: -40.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCI vs. ETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCI NEOS Bitcoin High Income ETF	-26.61%	-1.09%	26.12%
ETH Grayscale Ethereum Staking Mini ETF	-39.81%	-10.89%	27.49%

Correlation

The correlation between BTCI and ETH is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.82

The correlation between BTCI and ETH has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

Return for Risk

BTCI vs. ETH — Risk / Return Rank

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

BTCI

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

ETH

ETH Risk / Return Rank: 5
ETH Sharpe Ratio Rank: 4
ETH Sortino Ratio Rank: 5
ETH Omega Ratio Rank: 5
ETH Calmar Ratio Rank: 4
ETH Martin Ratio Rank: 5

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.

BTCI vs. ETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Bitcoin High Income ETF (BTCI) and Grayscale Ethereum Staking Mini ETF (ETH). 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.

	BTCI	ETH	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	-0.60	-0.47
Sortino ratio: Return per unit of downside risk	-1.56	-0.60	-0.96
Omega ratio: Gain probability vs. loss probability	0.82	0.93	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.60	-0.27
Martin ratio: Return relative to average drawdown	-1.46	-0.95	-0.51

BTCI vs. ETH - Sharpe Ratio Comparison

The current BTCI Sharpe Ratio is -1.06, which is lower than the ETH Sharpe Ratio of -0.60. The chart below compares the historical Sharpe Ratios of BTCI and ETH, 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

BTCI vs. ETH - Drawdown Comparison

The maximum BTCI drawdown since its inception was -48.42%, smaller than the maximum ETH drawdown of -67.52%. Use the drawdown chart below to compare losses from any high point for BTCI and ETH.

Drawdown Indicators

	BTCI	ETH	Difference
Max Drawdown Largest peak-to-trough decline	-48.42%	-67.52%	+19.10%
Max Drawdown (1Y) Largest decline over 1 year	-48.42%	-67.52%	+19.10%
Current Drawdown Current decline from peak	-45.73%	-62.93%	+17.20%
Average Drawdown Average peak-to-trough decline	-16.97%	-34.33%	+17.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.99%	42.77%	-13.78%

Volatility

BTCI vs. ETH - Volatility Comparison

The current volatility for NEOS Bitcoin High Income ETF (BTCI) is 10.63%, while Grayscale Ethereum Staking Mini ETF (ETH) has a volatility of 16.04%. This indicates that BTCI experiences smaller price fluctuations and is considered to be less risky than ETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCI	ETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.63%	16.04%	-5.41%
Volatility (6M) Calculated over the trailing 6-month period	31.57%	46.99%	-15.42%
Volatility (1Y) Calculated over the trailing 1-year period	39.92%	68.23%	-28.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.10%	71.85%	-31.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.10%	71.85%	-31.75%

BTCI vs. ETH - Expense Ratio Comparison

BTCI has a 0.99% expense ratio, which is higher than ETH's 0.15% expense ratio.

Dividends

BTCI vs. ETH - Dividend Comparison

BTCI's dividend yield for the trailing twelve months is around 43.77%, while ETH has not paid dividends to shareholders.

Position	TTM	2025	2024
BTCI NEOS Bitcoin High Income ETF	43.77%	36.46%	6.76%
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTCI and ETH in my portfolio?

BTCI and ETH have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTCI or ETH?

ETH has higher volatility (16.04%) compared to BTCI (10.63%). In terms of maximum drawdown, BTCI dropped -48.42% vs ETH's -67.52%.

Which ETF is better, BTCI or ETH?

On 1-year performance, ETH leads with -40.47% vs -42.24% for BTCI. On fees, ETH is cheaper at 0.15% per year. On volatility, BTCI has been the lower-risk option at 10.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCI or ETH?

Over the 1-year period, ETH has performed better with a -40.47% return vs -42.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCI or ETH?

ETH is cheaper with a 0.15% expense ratio, compared with 0.99% for BTCI.

Which ETF pays a higher dividend yield, BTCI or ETH?

BTCI has the higher dividend yield at 43.77%, compared with 0.00% for ETH.

What is the main difference between BTCI and ETH?

They also come from different issuers: Neos and Grayscale. Their fees differ too: 0.99% for BTCI and 0.15% for ETH.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.60 vs -1.06), 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.