BTCO vs. BFJL

Last updated Aug 2, 2026

BTCO (Invesco Galaxy Bitcoin ETF) and BFJL (FT Vest Bitcoin Strategy Floor15 ETF - July) are both exchange-traded funds - BTCO is a Cryptocurrency fund tracking the Lukka Prime Reference Bitcoin Rate, while BFJL is a Defined Outcome fund tracking the iShares Bitcoin Trust ETF (IBIT). Both are passively managed. Over the past year, BTCO returned -44.55% vs -14.80% for BFJL. Their correlation of 0.89 means they have usually moved in the same direction. BTCO charges 0.25%/yr vs 0.90%/yr for BFJL.

Performance

BTCO vs. BFJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Galaxy Bitcoin ETF (BTCO) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCO achieves a -28.24% return, which is significantly lower than BFJL's -5.11% return.

BTCO

• 1D: -2.89%
• 1M: 2.27%
• 6M: -25.04%
• YTD: -28.24%
• 1Y: -44.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.82%

BFJL

• 1D: -1.29%
• 1M: 1.35%
• 6M: -3.14%
• YTD: -5.11%
• 1Y: -14.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -11.29%

*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)
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	$12.56K	$8.09K	$4.95K
BTCO Invesco Galaxy Bitcoin ETF	$2.75M	$2.91M	$6.66M

BTCO vs. BFJL - Yearly Performance Comparison

	2026 (YTD)	2025
BTCO Invesco Galaxy Bitcoin ETF	-28.24%	-18.93%
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	-5.11%	-7.43%

Correlation

The correlation between BTCO and BFJL is 0.89, 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.	0.89
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.89

The correlation between BTCO and BFJL has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.

Return for Risk

BTCO vs. BFJL — Risk / Return Rank

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

BTCO

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

BFJL

BFJL Risk / Return Rank: 2
BFJL Sharpe Ratio Rank: 0
BFJL Sortino Ratio Rank: 1
BFJL Omega Ratio Rank: 1
BFJL Calmar Ratio Rank: 3
BFJL Martin Ratio Rank: 5

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.

BTCO vs. BFJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Bitcoin ETF (BTCO) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). 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.

	BTCO	BFJL	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-1.19	+0.14
Sortino ratio: Return per unit of downside risk	-1.59	-1.60	+0.02
Omega ratio: Gain probability vs. loss probability	0.83	0.81	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.74	-0.13
Martin ratio: Return relative to average drawdown	-1.34	-1.00	-0.34

BTCO vs. BFJL - Sharpe Ratio Comparison

The current BTCO Sharpe Ratio is -1.05, which is comparable to the BFJL Sharpe Ratio of -1.19. The chart below compares the historical Sharpe Ratios of BTCO and BFJL, 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

BTCO vs. BFJL - Drawdown Comparison

The maximum BTCO drawdown since its inception was -53.33%, which is greater than BFJL's maximum drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for BTCO and BFJL.

Drawdown Indicators

	BTCO	BFJL	Difference
Max Drawdown Largest peak-to-trough decline	-53.33%	-21.27%	-32.06%
Max Drawdown (1Y) Largest decline over 1 year	-53.33%	-21.27%	-32.06%
Current Drawdown Current decline from peak	-50.02%	-19.01%	-31.01%
Average Drawdown Average peak-to-trough decline	-18.14%	-12.90%	-5.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.63%	15.74%	+18.89%

Volatility

BTCO vs. BFJL - Volatility Comparison

Invesco Galaxy Bitcoin ETF (BTCO) has a higher volatility of 9.08% compared to FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL) at 3.65%. This indicates that BTCO's price experiences larger fluctuations and is considered to be riskier than BFJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCO	BFJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.08%	3.65%	+5.43%
Volatility (6M) Calculated over the trailing 6-month period	33.70%	5.54%	+28.16%
Volatility (1Y) Calculated over the trailing 1-year period	44.31%	13.20%	+31.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.14%	13.17%	+35.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.14%	13.17%	+35.97%

BTCO vs. BFJL - Expense Ratio Comparison

BTCO has a 0.25% expense ratio, which is lower than BFJL's 0.90% expense ratio.

Dividends

BTCO vs. BFJL - Dividend Comparison

BTCO has not paid dividends to shareholders, while BFJL's dividend yield for the trailing twelve months is around 1.42%.

Position	TTM	2025
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	1.42%	1.35%
BTCO Invesco Galaxy Bitcoin ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTCO and BFJL in my portfolio?

BTCO and BFJL have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTCO or BFJL?

BTCO has higher volatility (9.08%) compared to BFJL (3.65%). In terms of maximum drawdown, BTCO dropped -53.33% vs BFJL's -21.27%.

Which ETF is better, BTCO or BFJL?

On 1-year performance, BFJL leads with -14.80% vs -44.55% for BTCO. On fees, BTCO is cheaper at 0.25% per year. On volatility, BFJL has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCO or BFJL?

Over the 1-year period, BFJL has performed better with a -14.80% return vs -44.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCO or BFJL?

BTCO is cheaper with a 0.25% expense ratio, compared with 0.90% for BFJL.

Which ETF pays a higher dividend yield, BTCO or BFJL?

BFJL has the higher dividend yield at 1.42%, compared with 0.00% for BTCO.

What is the main difference between BTCO and BFJL?

BTCO is categorized as Cryptocurrency, while BFJL is Defined Outcome. BTCO tracks Lukka Prime Reference Bitcoin Rate, while BFJL tracks iShares Bitcoin Trust ETF (IBIT). They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.25% for BTCO and 0.90% for BFJL.

Which has better risk-adjusted returns?

BTCO currently has the higher Sharpe Ratio (-1.05 vs -1.19), 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.