BTF vs. BITY

Last updated Jul 14, 2026

BTF (Valkyrie Bitcoin and Ether Strategy ETF) and BITY (Amplify Bitcoin 2% Monthly Option Income ETF) are both exchange-traded funds - BTF is a Cryptocurrency fund actively managed by Valkyrie, while BITY is a Derivative Income fund actively managed by Amplify. Both are actively managed. Over the past year, BTF returned -45.62% vs -46.57% for BITY. Their correlation of 0.93 suggests significant overlap in exposure. BTF charges 1.24%/yr vs 0.65%/yr for BITY.

Performance

BTF vs. BITY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Valkyrie Bitcoin and Ether Strategy ETF (BTF) and Amplify Bitcoin 2% Monthly Option Income ETF (BITY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTF achieves a -35.64% return, which is significantly lower than BITY's -27.84% return.

BTF

• 1D: -1.77%
• 1M: 1.98%
• 6M: -38.36%
• YTD: -35.64%
• 1Y: -45.62%
• 3Y*: 8.64%
• 5Y*: —
• 10Y*: —

BITY

• 1D: -3.03%
• 1M: -3.75%
• 6M: -31.18%
• YTD: -27.84%
• 1Y: -46.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTF vs. BITY - Yearly Performance Comparison

	2026 (YTD)	2025
BTF Valkyrie Bitcoin and Ether Strategy ETF	-35.64%	21.44%
BITY Amplify Bitcoin 2% Monthly Option Income ETF	-27.84%	-7.84%

Correlation

The correlation between BTF and BITY 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 29, 2025	0.93

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

Return for Risk

BTF vs. BITY — Risk / Return Rank

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

BTF

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

BITY

BITY Risk / Return Rank: 1
BITY Sharpe Ratio Rank: 1
BITY Sortino Ratio Rank: 1
BITY Omega Ratio Rank: 1
BITY Calmar Ratio Rank: 1
BITY 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.

BTF vs. BITY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Valkyrie Bitcoin and Ether Strategy ETF (BTF) and Amplify Bitcoin 2% Monthly Option Income ETF (BITY). 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.

	BTF	BITY	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	-1.13	+0.29
Sortino ratio: Return per unit of downside risk	-1.16	-1.73	+0.57
Omega ratio: Gain probability vs. loss probability	0.87	0.81	+0.06
Calmar ratio: Return relative to maximum drawdown	-0.74	-0.92	+0.17
Martin ratio: Return relative to average drawdown	-1.19	-1.52	+0.33

BTF vs. BITY - Sharpe Ratio Comparison

The current BTF Sharpe Ratio is -0.84, which is comparable to the BITY Sharpe Ratio of -1.13. The chart below compares the historical Sharpe Ratios of BTF and BITY, 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

BTF vs. BITY - Drawdown Comparison

The maximum BTF drawdown since its inception was -77.50%, which is greater than BITY's maximum drawdown of -50.87%. Use the drawdown chart below to compare losses from any high point for BTF and BITY.

Drawdown Indicators

	BTF	BITY	Difference
Max Drawdown Largest peak-to-trough decline	-77.50%	-50.87%	-26.63%
Max Drawdown (1Y) Largest decline over 1 year	-61.55%	-50.87%	-10.68%
Max Drawdown (3Y) Largest decline over 3 years	-61.55%	—	—
Current Drawdown Current decline from peak	-57.91%	-48.85%	-9.06%
Average Drawdown Average peak-to-trough decline	-40.06%	-22.05%	-18.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.26%	30.65%	+7.61%

Volatility

BTF vs. BITY - Volatility Comparison

Valkyrie Bitcoin and Ether Strategy ETF (BTF) has a higher volatility of 13.50% compared to Amplify Bitcoin 2% Monthly Option Income ETF (BITY) at 11.12%. This indicates that BTF's price experiences larger fluctuations and is considered to be riskier than BITY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTF	BITY	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.50%	11.12%	+2.38%
Volatility (6M) Calculated over the trailing 6-month period	40.08%	32.34%	+7.74%
Volatility (1Y) Calculated over the trailing 1-year period	54.67%	41.37%	+13.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.33%	39.36%	+18.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.33%	39.36%	+18.97%

BTF vs. BITY - Expense Ratio Comparison

BTF has a 1.24% expense ratio, which is higher than BITY's 0.65% expense ratio.

Dividends

BTF vs. BITY - Dividend Comparison

BTF's dividend yield for the trailing twelve months is around 226.12%, more than BITY's 40.57% yield.

Position	TTM	2025	2024	2023
BITY Amplify Bitcoin 2% Monthly Option Income ETF	40.57%	21.53%	0.00%	0.00%
BTF Valkyrie Bitcoin and Ether Strategy ETF	226.12%	146.05%	52.96%	15.98%

Frequently Asked Questions

Can I hold both BTF and BITY in my portfolio?

With a correlation of 0.94, BTF and BITY 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, BTF or BITY?

BTF has higher volatility (13.50%) compared to BITY (11.12%). In terms of maximum drawdown, BTF dropped -77.50% vs BITY's -50.87%.

Which ETF is better, BTF or BITY?

On 1-year performance, BTF leads with -45.62% vs -46.57% for BITY. On fees, BITY is cheaper at 0.65% per year. On volatility, BITY has been the lower-risk option at 11.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTF or BITY?

Over the 1-year period, BTF has performed better with a -45.62% return vs -46.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTF or BITY?

BITY is cheaper with a 0.65% expense ratio, compared with 1.24% for BTF.

Which ETF pays a higher dividend yield, BTF or BITY?

BTF has the higher dividend yield at 226.12%, compared with 40.57% for BITY.

What is the main difference between BTF and BITY?

BTF is categorized as Cryptocurrency, while BITY is Derivative Income. They also come from different issuers: Valkyrie and Amplify. Their fees differ too: 1.24% for BTF and 0.65% for BITY.

Which has better risk-adjusted returns?

BTF currently has the higher Sharpe Ratio (-0.84 vs -1.13), 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.