CLNK vs. ICOI
CLNK (Bitwise Chainlink ETF) and ICOI (Bitwise COIN Option Income Strategy ETF) are both exchange-traded funds - CLNK is a Cryptocurrency fund tracking the Chainlink (LINK) spot price, while ICOI is a Derivative Income fund actively managed by Bitwise. CLNK is passively managed, while ICOI is actively managed. Their 0.66 correlation means they have sometimes moved together and sometimes differently. CLNK charges 0.34%/yr vs 0.98%/yr for ICOI.
Performance
CLNK vs. ICOI - Performance Comparison
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Returns By Period
CLNK
- 1D
- -2.38%
- 1M
- 5.69%
- 6M
- -24.31%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
ICOI
- 1D
- 0.10%
- 1M
- -1.71%
- 6M
- -12.60%
- YTD
- -22.45%
- 1Y
- -43.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -21.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $188.67K | $165.58K | $320.06K | |
| $611.49K | $662.54K | $611.26K |
CLNK vs. ICOI - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
CLNK Bitwise Chainlink ETF | -41.66% |
ICOI Bitwise COIN Option Income Strategy ETF | -30.49% |
Correlation
The correlation between CLNK and ICOI is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026 | 0.66 |
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Return for Risk
CLNK vs. ICOI — Risk / Return Rank
CLNK
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ICOI
CLNK vs. ICOI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Chainlink ETF (CLNK) and Bitwise COIN Option Income Strategy ETF (ICOI). 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.
| CLNK | ICOI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.81 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.95 | — |
| Martin ratioReturn relative to average drawdown | — | -1.41 | — |
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Drawdowns
CLNK vs. ICOI - Drawdown Comparison
The maximum CLNK drawdown since its inception was -49.00%, smaller than the maximum ICOI drawdown of -59.32%. Use the drawdown chart below to compare losses from any high point for CLNK and ICOI.
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Drawdown Indicators
| CLNK | ICOI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.00% | -59.32% | +10.32% |
Max Drawdown (1Y)Largest decline over 1 year | — | -54.58% | — |
Current DrawdownCurrent decline from peak | -42.20% | -55.37% | +13.17% |
Average DrawdownAverage peak-to-trough decline | -35.33% | -30.72% | -4.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 38.57% | — |
Volatility
CLNK vs. ICOI - Volatility Comparison
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Volatility by Period
| CLNK | ICOI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.35% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 35.53% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 63.85% | 49.80% | +14.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.85% | 49.33% | +14.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.85% | 49.33% | +14.52% |
CLNK vs. ICOI - Expense Ratio Comparison
CLNK has a 0.34% expense ratio, which is lower than ICOI's 0.98% expense ratio.
Dividends
CLNK vs. ICOI - Dividend Comparison
CLNK has not paid dividends to shareholders, while ICOI's dividend yield for the trailing twelve months is around 202.94%.
| Position | TTM | 2025 |
|---|---|---|
CLNK Bitwise Chainlink ETF | 0.00% | 0.00% |
ICOI Bitwise COIN Option Income Strategy ETF | 202.94% | 247.40% |
Frequently Asked Questions
CLNK and ICOI have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLNK is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLNK is cheaper with a 0.34% expense ratio, compared with 0.98% for ICOI.
ICOI has the higher dividend yield at 202.94%, compared with 0.00% for CLNK.
CLNK is categorized as Cryptocurrency, while ICOI is Derivative Income. Their fees differ too: 0.34% for CLNK and 0.98% for ICOI.
Find the right allocation for CLNK and ICOI
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