COWS vs. BITY

Last updated Aug 2, 2026

COWS (Amplify Cash Flow Dividend Leaders ETF) and BITY (Amplify Bitcoin 2% Monthly Option Income ETF) are both exchange-traded funds - COWS is a Mid Cap Value Equities fund tracking the Kelly US Cash Flow Dividend Leaders Index, while BITY is a Derivative Income fund actively managed by Amplify. COWS is passively managed, while BITY is actively managed. Over the past year, COWS returned 32.48% vs -43.57% for BITY. Their 0.29 correlation means their historical movements had little consistent relationship. COWS charges 0.00%/yr vs 0.65%/yr for BITY.

Performance

COWS vs. BITY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Cash Flow Dividend Leaders ETF (COWS) 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, COWS achieves a 16.71% return, which is significantly higher than BITY's -26.11% return.

COWS

• 1D: 0.16%
• 1M: 4.92%
• 6M: 14.74%
• YTD: 16.71%
• 1Y: 32.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.58%

BITY

• 1D: -2.83%
• 1M: 2.10%
• 6M: -23.81%
• YTD: -26.11%
• 1Y: -43.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.39%

*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)
BITY Amplify Bitcoin 2% Monthly Option Income ETF	$100.16K	$157.87K	$174.55K
COWS Amplify Cash Flow Dividend Leaders ETF	$328.33K	$310.96K	$216.44K

COWS vs. BITY - Yearly Performance Comparison

	2026 (YTD)	2025
COWS Amplify Cash Flow Dividend Leaders ETF	16.71%	28.06%
BITY Amplify Bitcoin 2% Monthly Option Income ETF	-26.11%	-7.84%

Correlation

The correlation between COWS and BITY is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.29

Return for Risk

COWS vs. BITY — Risk / Return Rank

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

COWS

COWS Risk / Return Rank: 86
COWS Sharpe Ratio Rank: 81
COWS Sortino Ratio Rank: 84
COWS Omega Ratio Rank: 79
COWS Calmar Ratio Rank: 94
COWS Martin Ratio Rank: 91

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) 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.

COWS vs. BITY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Cash Flow Dividend Leaders ETF (COWS) 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.

	COWS	BITY	Difference
Sharpe ratio: Return per unit of total volatility	1.85	-1.10	+2.95
Sortino ratio: Return per unit of downside risk	2.73	-1.66	+4.40
Omega ratio: Gain probability vs. loss probability	1.33	0.82	+0.51
Calmar ratio: Return relative to maximum drawdown	4.65	-0.90	+5.55
Martin ratio: Return relative to average drawdown	15.02	-1.40	+16.42

COWS vs. BITY - Sharpe Ratio Comparison

The current COWS Sharpe Ratio is 1.85, which is higher than the BITY Sharpe Ratio of -1.10. The chart below compares the historical Sharpe Ratios of COWS 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

COWS vs. BITY - Drawdown Comparison

The maximum COWS drawdown since its inception was -24.76%, smaller than the maximum BITY drawdown of -50.87%. Use the drawdown chart below to compare losses from any high point for COWS and BITY.

Drawdown Indicators

	COWS	BITY	Difference
Max Drawdown Largest peak-to-trough decline	-24.76%	-50.87%	+26.11%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	-50.87%	+44.43%
Current Drawdown Current decline from peak	-1.59%	-47.63%	+46.04%
Average Drawdown Average peak-to-trough decline	-3.77%	-23.13%	+19.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	32.54%	-30.55%

Volatility

COWS vs. BITY - Volatility Comparison

The current volatility for Amplify Cash Flow Dividend Leaders ETF (COWS) is 5.17%, while Amplify Bitcoin 2% Monthly Option Income ETF (BITY) has a volatility of 9.22%. This indicates that COWS experiences smaller price fluctuations and is considered to be less risky than BITY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COWS	BITY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	9.22%	-4.05%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	31.63%	-20.76%
Volatility (1Y) Calculated over the trailing 1-year period	16.20%	41.58%	-25.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	39.00%	-20.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	39.00%	-20.29%

COWS vs. BITY - Expense Ratio Comparison

COWS has a 0.00% expense ratio, which is lower than BITY's 0.65% expense ratio.

Dividends

COWS vs. BITY - Dividend Comparison

COWS's dividend yield for the trailing twelve months is around 1.46%, less than BITY's 37.67% yield.

Position	TTM	2025	2024	2023
BITY Amplify Bitcoin 2% Monthly Option Income ETF	37.67%	21.53%	0.00%	0.00%
COWS Amplify Cash Flow Dividend Leaders ETF	1.46%	2.04%	2.08%	0.67%

Frequently Asked Questions

Can I hold both COWS and BITY in my portfolio?

COWS and BITY have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COWS or BITY?

BITY has higher volatility (9.22%) compared to COWS (5.17%). In terms of maximum drawdown, COWS dropped -24.76% vs BITY's -50.87%.

Which ETF is better, COWS or BITY?

On 1-year performance, COWS leads with 32.48% vs -43.57% for BITY. On fees, COWS is cheaper at 0.00% per year. On volatility, COWS has been the lower-risk option at 5.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COWS or BITY?

Over the 1-year period, COWS has performed better with a 32.48% return vs -43.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COWS or BITY?

COWS is cheaper with a 0.00% expense ratio, compared with 0.65% for BITY.

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

BITY has the higher dividend yield at 37.67%, compared with 1.46% for COWS.

What is the main difference between COWS and BITY?

COWS is categorized as Mid Cap Value Equities, while BITY is Derivative Income. Their fees differ too: 0.00% for COWS and 0.65% for BITY.

Which has better risk-adjusted returns?

COWS currently has the higher Sharpe Ratio (1.85 vs -1.10), 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.