ETCO vs. BFOC

Last updated Jun 4, 2026

ETCO (Grayscale Ethereum Covered Call ETF) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - ETCO is a Cryptocurrency fund actively managed by Grayscale, while BFOC is a Defined Outcome fund actively managed by First Trust. Both are actively managed. Their correlation of 0.85 suggests significant overlap in exposure. ETCO charges 0.66%/yr vs 0.90%/yr for BFOC.

Performance

ETCO vs. BFOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Ethereum Covered Call ETF (ETCO) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETCO achieves a -33.38% return, which is significantly lower than BFOC's -7.39% return.

ETCO

• 1D: -5.43%
• 1M: -20.32%
• YTD: -33.38%
• 6M: -34.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFOC

• 1D: -0.24%
• 1M: -2.82%
• YTD: -7.39%
• 6M: -9.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETCO vs. BFOC - Yearly Performance Comparison

	2026 (YTD)	2025
ETCO Grayscale Ethereum Covered Call ETF	-33.38%	-23.02%
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	-7.39%	-9.76%

Correlation

The correlation between ETCO and BFOC is 0.85, 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 Oct 2, 2025	0.85

Return for Risk

ETCO vs. BFOC - 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 - October (BFOC). 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.

Sharpe Ratios by Period

	ETCO	BFOC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.16	-1.88	+0.72

Drawdowns

ETCO vs. BFOC - Drawdown Comparison

The maximum ETCO drawdown since its inception was -56.81%, which is greater than BFOC's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for ETCO and BFOC.

Drawdown Indicators

	ETCO	BFOC	Difference
Max Drawdown Largest peak-to-trough decline	-56.81%	-18.20%	-38.61%
Current Drawdown Current decline from peak	-54.32%	-18.20%	-36.12%
Average Drawdown Average peak-to-trough decline	-34.43%	-12.52%	-21.91%

Volatility

Volatility by Period

	ETCO	BFOC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	52.49%	12.61%	+39.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.49%	12.61%	+39.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.49%	12.61%	+39.88%

ETCO vs. BFOC - Expense Ratio Comparison

ETCO has a 0.66% expense ratio, which is lower than BFOC's 0.90% expense ratio.

Dividends

ETCO vs. BFOC - Dividend Comparison

ETCO's dividend yield for the trailing twelve months is around 127.41%, while BFOC has not paid dividends to shareholders.

Position	TTM	2025
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	0.00%	0.00%
ETCO Grayscale Ethereum Covered Call ETF	127.41%	42.29%

Frequently Asked Questions

Can I hold both ETCO and BFOC in my portfolio?

ETCO and BFOC have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETCO or BFOC?

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.

Which ETF is cheaper, ETCO or BFOC?

ETCO is cheaper with a 0.66% expense ratio, compared with 0.90% for BFOC.

Which ETF pays a higher dividend yield, ETCO or BFOC?

ETCO has the higher dividend yield at 127.41%, compared with 0.00% for BFOC.

What is the main difference between ETCO and BFOC?

ETCO is categorized as Cryptocurrency, while BFOC is Defined Outcome. They also come from different issuers: Grayscale and First Trust. Their fees differ too: 0.66% for ETCO and 0.90% for BFOC.