DFII vs. WGMI

Last updated Jun 4, 2026

DFII (FT Vest Bitcoin Strategy & Target Income ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, DFII returned -37.26% vs 294.61% for WGMI. A 0.56 correlation means they provide meaningful diversification when combined. DFII charges 0.85%/yr vs 0.75%/yr for WGMI.

Performance

DFII vs. WGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Bitcoin Strategy & Target Income ETF (DFII) and Valkyrie Bitcoin Miners ETF (WGMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFII achieves a -24.78% return, which is significantly lower than WGMI's 84.78% return.

DFII

• 1D: -2.65%
• 1M: -17.17%
• YTD: -24.78%
• 6M: -28.08%
• 1Y: -37.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -1.11%
• 1M: 40.03%
• YTD: 84.78%
• 6M: 55.52%
• 1Y: 294.61%
• 3Y*: 86.17%
• 5Y*: —
• 10Y*: —

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

DFII vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025
DFII FT Vest Bitcoin Strategy & Target Income ETF	-24.78%	5.61%
WGMI Valkyrie Bitcoin Miners ETF	84.78%	200.16%

Correlation

The correlation between DFII and WGMI is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.56

The correlation between DFII and WGMI has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

Return for Risk

DFII vs. WGMI — Risk / Return Rank

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

DFII

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

WGMI

WGMI Risk / Return Rank: 79
WGMI Sharpe Ratio Rank: 95
WGMI Sortino Ratio Rank: 76
WGMI Omega Ratio Rank: 69
WGMI Calmar Ratio Rank: 91
WGMI Martin Ratio Rank: 64

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.

DFII vs. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy & Target Income ETF (DFII) and Valkyrie Bitcoin Miners ETF (WGMI). 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.

	DFII	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	3.91	-4.81
Sortino ratio: Return per unit of downside risk	-1.24	3.49	-4.72
Omega ratio: Gain probability vs. loss probability	0.86	1.42	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.78	5.83	-6.60
Martin ratio: Return relative to average drawdown	-1.38	11.81	-13.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFII vs. WGMI - Sharpe Ratio Comparison

The current DFII Sharpe Ratio is -0.91, which is lower than the WGMI Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of DFII and WGMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFII	WGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.91	3.91	-4.81
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	0.31	-0.75

Drawdowns

DFII vs. WGMI - Drawdown Comparison

The maximum DFII drawdown since its inception was -48.07%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for DFII and WGMI.

Drawdown Indicators

	DFII	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-48.07%	-85.76%	+37.69%
Max Drawdown (1Y) Largest decline over 1 year	-48.07%	-50.94%	+2.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-62.79%	—
Current Drawdown Current decline from peak	-45.95%	-1.11%	-44.84%
Average Drawdown Average peak-to-trough decline	-19.01%	-42.90%	+23.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.04%	25.08%	+1.96%

Volatility

DFII vs. WGMI - Volatility Comparison

The current volatility for FT Vest Bitcoin Strategy & Target Income ETF (DFII) is 9.03%, while Valkyrie Bitcoin Miners ETF (WGMI) has a volatility of 20.10%. This indicates that DFII experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFII	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	20.10%	-11.07%
Volatility (6M) Calculated over the trailing 6-month period	33.27%	55.64%	-22.37%
Volatility (1Y) Calculated over the trailing 1-year period	41.33%	76.03%	-34.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.08%	81.53%	-40.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.08%	81.53%	-40.45%

DFII vs. WGMI - Expense Ratio Comparison

DFII has a 0.85% expense ratio, which is higher than WGMI's 0.75% expense ratio.

Dividends

DFII vs. WGMI - Dividend Comparison

DFII's dividend yield for the trailing twelve months is around 27.87%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DFII FT Vest Bitcoin Strategy & Target Income ETF	27.87%	15.51%	0.00%	0.00%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both DFII and WGMI in my portfolio?

DFII and WGMI have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFII or WGMI?

WGMI has higher volatility (20.10%) compared to DFII (9.03%). In terms of maximum drawdown, DFII dropped -48.07% vs WGMI's -85.76%.

Which ETF is better, DFII or WGMI?

On 1-year performance, WGMI leads with 294.61% vs -37.26% for DFII. On fees, WGMI is cheaper at 0.75% per year. On volatility, DFII has been the lower-risk option at 9.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFII or WGMI?

Over the 1-year period, WGMI has performed better with a 294.61% return vs -37.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFII or WGMI?

WGMI is cheaper with a 0.75% expense ratio, compared with 0.85% for DFII.

Which ETF pays a higher dividend yield, DFII or WGMI?

DFII has the higher dividend yield at 27.87%, compared with 0.00% for WGMI.

What is the main difference between DFII and WGMI?

They also come from different issuers: First Trust and Valkyrie. Their fees differ too: 0.85% for DFII and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (3.91 vs -0.91), 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.