ETCO vs. BFAP
ETCO (Grayscale Ethereum Covered Call ETF) and BFAP (FT Vest Bitcoin Strategy Floor15 ETF - April) are both Cryptocurrency funds. Both are actively managed. Their correlation of 0.87 suggests significant overlap in exposure. ETCO charges 0.66%/yr vs 0.90%/yr for BFAP.
Performance
ETCO vs. BFAP - Performance Comparison
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Returns By Period
In the year-to-date period, ETCO achieves a -33.38% return, which is significantly lower than BFAP's -20.89% return.
ETCO
- 1D
- -5.43%
- 1M
- -20.32%
- YTD
- -33.38%
- 6M
- -34.60%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BFAP
- 1D
- -1.05%
- 1M
- -7.01%
- YTD
- -20.89%
- 6M
- -23.66%
- 1Y
- -24.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETCO vs. BFAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -33.38% | -24.78% |
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April | -20.89% | -9.71% |
Correlation
The correlation between ETCO and BFAP is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 5, 2025 | 0.87 |
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Return for Risk
ETCO vs. BFAP — Risk / Return Rank
ETCO
BFAP
ETCO vs. BFAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Covered Call ETF (ETCO) and FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| ETCO | BFAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -1.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.16 | -0.59 | -0.57 |
Drawdowns
ETCO vs. BFAP - Drawdown Comparison
The maximum ETCO drawdown since its inception was -56.81%, which is greater than BFAP's maximum drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for ETCO and BFAP.
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Drawdown Indicators
| ETCO | BFAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.81% | -31.25% | -25.56% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.25% | — |
Current DrawdownCurrent decline from peak | -54.32% | -31.25% | -23.07% |
Average DrawdownAverage peak-to-trough decline | -34.43% | -10.77% | -23.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 16.89% | — |
Volatility
ETCO vs. BFAP - Volatility Comparison
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Volatility by Period
| ETCO | BFAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.59% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.66% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 52.49% | 21.26% | +31.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.49% | 20.57% | +31.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.49% | 20.57% | +31.92% |
ETCO vs. BFAP - Expense Ratio Comparison
ETCO has a 0.66% expense ratio, which is lower than BFAP's 0.90% expense ratio.
Dividends
ETCO vs. BFAP - Dividend Comparison
ETCO's dividend yield for the trailing twelve months is around 127.41%, more than BFAP's 23.98% yield.
| Position | TTM | 2025 |
|---|---|---|
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April | 23.98% | 18.97% |
ETCO Grayscale Ethereum Covered Call ETF | 127.41% | 42.29% |
Frequently Asked Questions
ETCO and BFAP have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETCO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETCO is cheaper with a 0.66% expense ratio, compared with 0.90% for BFAP.
ETCO has the higher dividend yield at 127.41%, compared with 23.98% for BFAP.
They also come from different issuers: Grayscale and First Trust. Their fees differ too: 0.66% for ETCO and 0.90% for BFAP.
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