DARP vs. BTCI

Last updated Jul 12, 2026

DARP (Grizzle Growth ETF) and BTCI (NEOS Bitcoin High Income ETF) are both exchange-traded funds - DARP is a Large Cap Growth Equities fund actively managed by Grizzle, while BTCI is a Cryptocurrency fund actively managed by Neos. Both are actively managed. Over the past year, DARP returned 60.52% vs -41.02% for BTCI. At a 0.43 correlation, their price movements are largely independent. DARP charges 0.75%/yr vs 0.99%/yr for BTCI.

Performance

DARP vs. BTCI - Performance Comparison

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

Returns By Period

In the year-to-date period, DARP achieves a 27.98% return, which is significantly higher than BTCI's -25.06% return.

DARP

• 1D: -0.29%
• 1M: 1.39%
• 6M: 23.92%
• YTD: 27.98%
• 1Y: 60.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCI

• 1D: 1.00%
• 1M: -0.69%
• 6M: -27.13%
• YTD: -25.06%
• 1Y: -41.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DARP vs. BTCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DARP Grizzle Growth ETF	27.98%	40.19%	1.11%
BTCI NEOS Bitcoin High Income ETF	-25.06%	-1.09%	26.12%

Correlation

The correlation between DARP and BTCI is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.43

Return for Risk

DARP vs. BTCI — Risk / Return Rank

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

DARP

DARP Risk / Return Rank: 87
DARP Sharpe Ratio Rank: 90
DARP Sortino Ratio Rank: 81
DARP Omega Ratio Rank: 81
DARP Calmar Ratio Rank: 93
DARP Martin Ratio Rank: 92

BTCI

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

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.

DARP vs. BTCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grizzle Growth ETF (DARP) and NEOS Bitcoin High Income ETF (BTCI). 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.

	DARP	BTCI	Difference
Sharpe ratio: Return per unit of total volatility	2.42	-0.99	+3.41
Sortino ratio: Return per unit of downside risk	2.87	-1.40	+4.27
Omega ratio: Gain probability vs. loss probability	1.38	0.84	+0.54
Calmar ratio: Return relative to maximum drawdown	5.22	-0.82	+6.04
Martin ratio: Return relative to average drawdown	17.78	-1.37	+19.14

DARP vs. BTCI - Sharpe Ratio Comparison

The current DARP Sharpe Ratio is 2.42, which is higher than the BTCI Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of DARP and BTCI, 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

DARP vs. BTCI - Drawdown Comparison

The maximum DARP drawdown since its inception was -30.27%, smaller than the maximum BTCI drawdown of -48.42%. Use the drawdown chart below to compare losses from any high point for DARP and BTCI.

Drawdown Indicators

	DARP	BTCI	Difference
Max Drawdown Largest peak-to-trough decline	-30.27%	-48.42%	+18.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	-48.42%	+36.60%
Current Drawdown Current decline from peak	-4.27%	-44.59%	+40.32%
Average Drawdown Average peak-to-trough decline	-4.64%	-16.90%	+12.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	28.85%	-25.39%

Volatility

DARP vs. BTCI - Volatility Comparison

Grizzle Growth ETF (DARP) and NEOS Bitcoin High Income ETF (BTCI) have volatilities of 10.50% and 10.41%, 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

	DARP	BTCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.50%	10.41%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	20.01%	31.52%	-11.51%
Volatility (1Y) Calculated over the trailing 1-year period	25.47%	39.93%	-14.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.58%	40.12%	-13.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.58%	40.12%	-13.54%

DARP vs. BTCI - Expense Ratio Comparison

DARP has a 0.75% expense ratio, which is lower than BTCI's 0.99% expense ratio.

Dividends

DARP vs. BTCI - Dividend Comparison

DARP's dividend yield for the trailing twelve months is around 0.34%, less than BTCI's 42.87% yield.

Position	TTM	2025	2024	2023
BTCI NEOS Bitcoin High Income ETF	42.87%	36.46%	6.76%	0.00%
DARP Grizzle Growth ETF	0.34%	0.43%	1.93%	0.32%

Frequently Asked Questions

Can I hold both DARP and BTCI in my portfolio?

DARP and BTCI have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DARP or BTCI?

DARP has higher volatility (10.50%) compared to BTCI (10.41%). In terms of maximum drawdown, DARP dropped -30.27% vs BTCI's -48.42%.

Which ETF is better, DARP or BTCI?

On 1-year performance, DARP leads with 60.52% vs -41.02% for BTCI. On fees, DARP is cheaper at 0.75% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DARP or BTCI?

Over the 1-year period, DARP has performed better with a 60.52% return vs -41.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DARP or BTCI?

DARP is cheaper with a 0.75% expense ratio, compared with 0.99% for BTCI.

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

BTCI has the higher dividend yield at 42.87%, compared with 0.34% for DARP.

What is the main difference between DARP and BTCI?

DARP is categorized as Large Cap Growth Equities, while BTCI is Cryptocurrency. They also come from different issuers: Grizzle and Neos. Their fees differ too: 0.75% for DARP and 0.99% for BTCI.

Which has better risk-adjusted returns?

DARP currently has the higher Sharpe Ratio (2.42 vs -0.99), 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.