BTCI vs. XBTY

Last updated Jun 5, 2026

BTCI (NEOS Bitcoin High Income ETF) and XBTY (GraniteShares YieldBOOST Bitcoin ETF) are both exchange-traded funds - BTCI is a Cryptocurrency fund actively managed by Neos, while XBTY is a Derivative Income fund actively managed by GraniteShares. Both are actively managed. Over the past year, BTCI returned -34.52% vs -36.75% for XBTY. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.99% expense ratio.

Performance

BTCI vs. XBTY - Performance Comparison

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

Returns By Period

In the year-to-date period, BTCI achieves a -24.80% return, which is significantly lower than XBTY's -20.15% return.

BTCI

• 1D: -2.67%
• 1M: -19.78%
• YTD: -24.80%
• 6M: -28.14%
• 1Y: -34.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XBTY

• 1D: -0.82%
• 1M: -9.65%
• YTD: -20.15%
• 6M: -21.04%
• 1Y: -36.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCI vs. XBTY - Yearly Performance Comparison

	2026 (YTD)	2025
BTCI NEOS Bitcoin High Income ETF	-24.80%	-11.94%
XBTY GraniteShares YieldBOOST Bitcoin ETF	-20.15%	-21.15%

Correlation

The correlation between BTCI and XBTY is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since May 14, 2025	0.90

The correlation between BTCI and XBTY has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

Return for Risk

BTCI vs. XBTY — Risk / Return Rank

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

BTCI

BTCI Risk / Return Rank: 2
BTCI Sharpe Ratio Rank: 2
BTCI Sortino Ratio Rank: 3
BTCI Omega Ratio Rank: 2
BTCI Calmar Ratio Rank: 2
BTCI Martin Ratio Rank: 2

XBTY

XBTY Risk / Return Rank: 1
XBTY Sharpe Ratio Rank: 0
XBTY Sortino Ratio Rank: 1
XBTY Omega Ratio Rank: 1
XBTY Calmar Ratio Rank: 2
XBTY Martin Ratio Rank: 3

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. XBTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Bitcoin High Income ETF (BTCI) and GraniteShares YieldBOOST Bitcoin ETF (XBTY). 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.

	BTCI	XBTY	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	-1.30	+0.41
Sortino ratio: Return per unit of downside risk	-1.19	-1.88	+0.69
Omega ratio: Gain probability vs. loss probability	0.86	0.78	+0.08
Calmar ratio: Return relative to maximum drawdown	-0.77	-0.80	+0.03
Martin ratio: Return relative to average drawdown	-1.37	-1.24	-0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCI vs. XBTY - Sharpe Ratio Comparison

The current BTCI Sharpe Ratio is -0.89, which is higher than the XBTY Sharpe Ratio of -1.30. The chart below compares the historical Sharpe Ratios of BTCI and XBTY, 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

	BTCI	XBTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.89	-1.30	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	-1.27	+1.20

Drawdowns

BTCI vs. XBTY - Drawdown Comparison

The maximum BTCI drawdown since its inception was -44.98%, roughly equal to the maximum XBTY drawdown of -45.90%. Use the drawdown chart below to compare losses from any high point for BTCI and XBTY.

Drawdown Indicators

	BTCI	XBTY	Difference
Max Drawdown Largest peak-to-trough decline	-44.98%	-45.90%	+0.92%
Max Drawdown (1Y) Largest decline over 1 year	-44.98%	-45.90%	+0.92%
Current Drawdown Current decline from peak	-44.39%	-45.90%	+1.51%
Average Drawdown Average peak-to-trough decline	-15.25%	-23.12%	+7.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.20%	29.63%	-4.43%

Volatility

BTCI vs. XBTY - Volatility Comparison

NEOS Bitcoin High Income ETF (BTCI) has a higher volatility of 8.15% compared to GraniteShares YieldBOOST Bitcoin ETF (XBTY) at 5.38%. This indicates that BTCI's price experiences larger fluctuations and is considered to be riskier than XBTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCI	XBTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.15%	5.38%	+2.77%
Volatility (6M) Calculated over the trailing 6-month period	30.49%	16.56%	+13.93%
Volatility (1Y) Calculated over the trailing 1-year period	38.98%	28.30%	+10.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.12%	27.91%	+12.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.12%	27.91%	+12.21%

BTCI vs. XBTY - Expense Ratio Comparison

Both BTCI and XBTY have an expense ratio of 0.99%.

Dividends

BTCI vs. XBTY - Dividend Comparison

BTCI's dividend yield for the trailing twelve months is around 44.34%, less than XBTY's 242.86% yield.

Position	TTM	2025	2024
BTCI NEOS Bitcoin High Income ETF	44.34%	36.46%	6.76%
XBTY GraniteShares YieldBOOST Bitcoin ETF	242.86%	102.53%	0.00%

Frequently Asked Questions

Can I hold both BTCI and XBTY in my portfolio?

With a correlation of 0.90, BTCI and XBTY 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, BTCI or XBTY?

BTCI has higher volatility (8.15%) compared to XBTY (5.38%). In terms of maximum drawdown, BTCI dropped -44.98% vs XBTY's -45.90%.

Which ETF is better, BTCI or XBTY?

On 1-year performance, BTCI leads with -34.52% vs -36.75% for XBTY. Both ETFs have the same 0.99% expense ratio. On volatility, XBTY has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCI or XBTY?

Over the 1-year period, BTCI has performed better with a -34.52% return vs -36.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCI or XBTY?

BTCI and XBTY have the same expense ratio: 0.99% per year.

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

XBTY has the higher dividend yield at 242.86%, compared with 44.34% for BTCI.

What is the main difference between BTCI and XBTY?

BTCI is categorized as Cryptocurrency, while XBTY is Derivative Income. They also come from different issuers: Neos and GraniteShares.

Which has better risk-adjusted returns?

BTCI currently has the higher Sharpe Ratio (-0.89 vs -1.30), 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.