BTCI vs. YBTC

Last updated Aug 2, 2026

BTCI (NEOS Bitcoin High Income ETF) and YBTC (Roundhill Bitcoin Covered Call Strategy ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BTCI returned -40.21% vs -40.21% for YBTC. Their correlation of 0.93 means they have usually moved in the same direction. BTCI charges 0.99%/yr vs 0.95%/yr for YBTC.

Performance

BTCI vs. YBTC - Performance Comparison

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

Returns By Period

In the year-to-date period, BTCI achieves a -25.73% return, which is significantly lower than YBTC's -23.96% return.

BTCI

• 1D: -2.39%
• 1M: 2.51%
• 6M: -23.02%
• YTD: -25.73%
• 1Y: -40.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -4.18%

YBTC

• 1D: -3.00%
• 1M: 3.48%
• 6M: -20.57%
• YTD: -23.96%
• 1Y: -40.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.99%

*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)
BTCI NEOS Bitcoin High Income ETF	$12.53M	$12.80M	$22.67M
YBTC Roundhill Bitcoin Covered Call Strategy ETF	$1.21M	$1.11M	$1.55M

BTCI vs. YBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCI NEOS Bitcoin High Income ETF	-25.73%	-1.09%	26.12%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-23.96%	-4.23%	21.55%

Correlation

The correlation between BTCI and YBTC is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.93

The correlation between BTCI and YBTC has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

BTCI vs. YBTC — Risk / Return Rank

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

BTCI

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

YBTC

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

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.

BTCI vs. YBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Bitcoin High Income ETF (BTCI) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC). 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	YBTC	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-1.06	+0.01
Sortino ratio: Return per unit of downside risk	-1.53	-1.52	-0.01
Omega ratio: Gain probability vs. loss probability	0.83	0.81	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.87	+0.01
Martin ratio: Return relative to average drawdown	-1.36	-1.35	0.00

BTCI vs. YBTC - Sharpe Ratio Comparison

The current BTCI Sharpe Ratio is -1.05, which is comparable to the YBTC Sharpe Ratio of -1.06. The chart below compares the historical Sharpe Ratios of BTCI and YBTC, 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. YBTC - Drawdown Comparison

The maximum BTCI drawdown since its inception was -48.42%, roughly equal to the maximum YBTC drawdown of -48.84%. Use the drawdown chart below to compare losses from any high point for BTCI and YBTC.

Drawdown Indicators

	BTCI	YBTC	Difference
Max Drawdown Largest peak-to-trough decline	-48.42%	-48.84%	+0.42%
Max Drawdown (1Y) Largest decline over 1 year	-48.42%	-48.84%	+0.42%
Current Drawdown Current decline from peak	-45.08%	-44.47%	-0.61%
Average Drawdown Average peak-to-trough decline	-17.81%	-14.91%	-2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.79%	31.35%	-0.56%

Volatility

BTCI vs. YBTC - Volatility Comparison

NEOS Bitcoin High Income ETF (BTCI) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC) have volatilities of 7.31% and 7.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCI	YBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.31%	7.65%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	30.70%	31.73%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	40.00%	40.25%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.67%	40.45%	-0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.67%	40.45%	-0.78%

BTCI vs. YBTC - Expense Ratio Comparison

BTCI has a 0.99% expense ratio, which is higher than YBTC's 0.95% expense ratio.

Dividends

BTCI vs. YBTC - Dividend Comparison

BTCI's dividend yield for the trailing twelve months is around 41.26%, less than YBTC's 80.99% yield.

Position	TTM	2025	2024
BTCI NEOS Bitcoin High Income ETF	41.26%	36.46%	6.76%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	80.99%	76.04%	44.53%

Frequently Asked Questions

Can I hold both BTCI and YBTC in my portfolio?

With a correlation of 0.94, BTCI and YBTC 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 YBTC?

YBTC has higher volatility (7.65%) compared to BTCI (7.31%). In terms of maximum drawdown, BTCI dropped -48.42% vs YBTC's -48.84%.

Which ETF is better, BTCI or YBTC?

On 1-year performance, YBTC leads with -40.21% vs -40.21% for BTCI. On fees, YBTC is cheaper at 0.95% per year. On volatility, BTCI has been the lower-risk option at 7.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCI or YBTC?

Over the 1-year period, YBTC has performed better with a -40.21% return vs -40.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCI or YBTC?

YBTC is cheaper with a 0.95% expense ratio, compared with 0.99% for BTCI.

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

YBTC has the higher dividend yield at 80.99%, compared with 41.26% for BTCI.

What is the main difference between BTCI and YBTC?

They also come from different issuers: Neos and Roundhill. Their fees differ too: 0.99% for BTCI and 0.95% for YBTC.

Which has better risk-adjusted returns?

BTCI currently has the higher Sharpe Ratio (-1.05 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.