DEFI vs. BFJL
DEFI (Hashdex Bitcoin Futures ETF) and BFJL (FT Vest Bitcoin Strategy Floor15 ETF - July) are both exchange-traded funds - DEFI is a Cryptocurrency fund tracking the HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index, while BFJL is a Defined Outcome fund tracking the iShares Bitcoin Trust ETF (IBIT). Both are passively managed. Over the past year, DEFI returned -43.87% vs -14.44% for BFJL. Their correlation of 0.89 means they have usually moved in the same direction. Both charge a 0.90% expense ratio.
Performance
DEFI vs. BFJL - Performance Comparison
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Returns By Period
In the year-to-date period, DEFI achieves a -26.38% return, which is significantly lower than BFJL's -4.36% return.
DEFI
- 1D
- 0.60%
- 1M
- 4.35%
- 6M
- -15.86%
- YTD
- -26.38%
- 1Y
- -43.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.65%
BFJL
- 1D
- 0.17%
- 1M
- 2.15%
- 6M
- 0.07%
- YTD
- -4.36%
- 1Y
- -14.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -10.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.78K | $8.05K | $4.98K | |
| $23.12K | $21.67K | $162.07K |
DEFI vs. BFJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DEFI Hashdex Bitcoin Futures ETF | -26.38% | -18.74% |
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July | -4.36% | -7.43% |
Correlation
The correlation between DEFI 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 DEFI and BFJL has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.
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Return for Risk
DEFI vs. BFJL — Risk / Return Rank
DEFI
BFJL
DEFI vs. BFJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Bitcoin Futures ETF (DEFI) 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.
| DEFI | BFJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.82 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.68 | -0.15 |
| Martin ratioReturn relative to average drawdown | -1.26 | -0.91 | -0.35 |
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Drawdowns
DEFI vs. BFJL - Drawdown Comparison
The maximum DEFI drawdown since its inception was -53.19%, which is greater than BFJL's maximum drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for DEFI and BFJL.
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Drawdown Indicators
| DEFI | BFJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.19% | -21.27% | -31.92% |
Max Drawdown (1Y)Largest decline over 1 year | -53.19% | -21.27% | -31.92% |
Current DrawdownCurrent decline from peak | -48.76% | -18.37% | -30.39% |
Average DrawdownAverage peak-to-trough decline | -18.81% | -12.94% | -5.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.82% | 15.83% | +18.99% |
Volatility
DEFI vs. BFJL - Volatility Comparison
Hashdex Bitcoin Futures ETF (DEFI) has a higher volatility of 8.54% compared to FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL) at 3.38%. This indicates that DEFI'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.
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Volatility by Period
| DEFI | BFJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.54% | 3.38% | +5.16% |
Volatility (6M)Calculated over the trailing 6-month period | 33.56% | 5.11% | +28.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.71% | 13.19% | +31.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.22% | 13.13% | +35.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.22% | 13.13% | +35.09% |
DEFI vs. BFJL - Expense Ratio Comparison
Both DEFI and BFJL have an expense ratio of 0.90%.
Dividends
DEFI vs. BFJL - Dividend Comparison
DEFI has not paid dividends to shareholders, while BFJL's dividend yield for the trailing twelve months is around 1.41%.
| Position | TTM | 2025 |
|---|---|---|
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July | 1.41% | 1.35% |
DEFI Hashdex Bitcoin Futures ETF | 0.00% | 0.00% |
Frequently Asked Questions
DEFI 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.
DEFI has higher volatility (8.54%) compared to BFJL (3.38%). In terms of maximum drawdown, DEFI dropped -53.19% vs BFJL's -21.27%.
On 1-year performance, BFJL leads with -14.44% vs -43.87% for DEFI. Both ETFs have the same 0.90% expense ratio. On volatility, BFJL has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BFJL has performed better with a -14.44% return vs -43.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DEFI and BFJL have the same expense ratio: 0.90% per year.
BFJL has the higher dividend yield at 1.41%, compared with 0.00% for DEFI.
DEFI is categorized as Cryptocurrency, while BFJL is Defined Outcome. DEFI tracks HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index, while BFJL tracks iShares Bitcoin Trust ETF (IBIT). They also come from different issuers: Hashdex and First Trust.
DEFI currently has the higher Sharpe Ratio (-0.98 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.
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