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. Their 0.46 correlation means their historical movements had little consistent relationship. 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 -34.69% return, which is significantly lower than BITC's -1.76% return.
ETCO
- 1D
- -2.50%
- 1M
- 5.77%
- 6M
- -27.08%
- YTD
- -34.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
BITC
- 1D
- -2.97%
- 1M
- -1.31%
- 6M
- -1.00%
- YTD
- -1.76%
- 1Y
- -24.54%
- 3Y*
- 29.84%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.18K | $64.98K | $91.15K | |
| $41.84K | $37.58K | $56.92K |
ETCO vs. BITC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -34.69% | -26.08% |
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | -1.76% | -20.08% |
Correlation
The correlation between ETCO and BITC is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025 | 0.46 |
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Return for Risk
ETCO vs. BITC — Risk / Return Rank
ETCO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| ETCO | BITC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.80 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.89 | — |
| Martin ratioReturn relative to average drawdown | — | -1.19 | — |
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Drawdowns
ETCO vs. BITC - Drawdown Comparison
The maximum ETCO drawdown since its inception was -59.43%, 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 | -59.43% | -38.51% | -20.92% |
Max Drawdown (1Y)Largest decline over 1 year | — | -27.89% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -38.51% | — |
Current DrawdownCurrent decline from peak | -55.22% | -32.48% | -22.74% |
Average DrawdownAverage peak-to-trough decline | -38.17% | -16.98% | -21.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 20.72% | — |
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 | — | 8.07% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 18.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 50.60% | 25.11% | +25.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.60% | 45.81% | +4.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.60% | 45.81% | +4.79% |
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 153.50%, more than BITC's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.42% | 3.36% | 42.68% | 5.82% |
ETCO Grayscale Ethereum Covered Call ETF | 153.50% | 42.29% | 0.00% | 0.00% |
Frequently Asked Questions
ETCO and BITC have a correlation of 0.46, 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 153.50%, compared with 3.42% 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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