ETCO vs. BITC
ETCO (Grayscale Ethereum Covered Call ETF) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both Cryptocurrency funds. Both are actively managed. At a 0.45 correlation, their price movements are largely independent. ETCO charges 0.66%/yr vs 0.88%/yr for BITC.
Performance
ETCO vs. BITC - Performance Comparison
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Returns By Period
In the year-to-date period, ETCO achieves a -34.48% return, which is significantly lower than BITC's 6.94% return.
ETCO
- 1D
- -1.66%
- 1M
- -22.34%
- YTD
- -34.48%
- 6M
- -36.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITC
- 1D
- -0.04%
- 1M
- -6.33%
- YTD
- 6.94%
- 6M
- -0.82%
- 1Y
- -15.12%
- 3Y*
- 39.11%
- 5Y*
- —
- 10Y*
- —
ETCO vs. BITC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -34.48% | -24.78% |
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 6.94% | -20.07% |
Correlation
The correlation between ETCO and BITC is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 5, 2025 | 0.45 |
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Return for Risk
ETCO vs. BITC — Risk / Return Rank
ETCO
BITC
ETCO vs. BITC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Covered Call ETF (ETCO) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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 | BITC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.17 | 0.68 | -1.85 |
Drawdowns
ETCO vs. BITC - Drawdown Comparison
The maximum ETCO drawdown since its inception was -56.81%, which is greater than BITC's maximum drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for ETCO and BITC.
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Drawdown Indicators
| ETCO | BITC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.81% | -38.51% | -18.30% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.51% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -38.51% | — |
Current DrawdownCurrent decline from peak | -55.08% | -26.50% | -28.58% |
Average DrawdownAverage peak-to-trough decline | -34.54% | -16.38% | -18.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 18.41% | — |
Volatility
ETCO vs. BITC - Volatility Comparison
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Volatility by Period
| ETCO | BITC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 19.98% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 52.38% | 25.54% | +26.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.38% | 46.63% | +5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.38% | 46.63% | +5.75% |
ETCO vs. BITC - Expense Ratio Comparison
ETCO has a 0.66% expense ratio, which is lower than BITC's 0.88% expense ratio.
Dividends
ETCO vs. BITC - Dividend Comparison
ETCO's dividend yield for the trailing twelve months is around 129.56%, more than BITC's 3.14% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.14% | 3.36% | 42.68% | 5.82% |
ETCO Grayscale Ethereum Covered Call ETF | 129.56% | 42.29% | 0.00% | 0.00% |
Frequently Asked Questions
ETCO and BITC have a correlation of 0.45, 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 0.88% for BITC.
ETCO has the higher dividend yield at 129.56%, compared with 3.14% for BITC.
They also come from different issuers: Grayscale and Bitwise. Their fees differ too: 0.66% for ETCO and 0.88% for BITC.
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