ETCO vs. BTRN
ETCO (Grayscale Ethereum Covered Call ETF) and BTRN (Global X Bitcoin Trend Strategy ETF) are both Cryptocurrency funds. ETCO is actively managed, while BTRN is passively managed. A 0.55 correlation means they provide meaningful diversification when combined. ETCO charges 0.66%/yr vs 0.95%/yr for BTRN.
Performance
ETCO vs. BTRN - 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 BTRN's -9.20% return.
ETCO
- 1D
- -1.66%
- 1M
- -22.34%
- YTD
- -34.48%
- 6M
- -36.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTRN
- 1D
- 0.10%
- 1M
- -13.54%
- YTD
- -9.20%
- 6M
- -9.80%
- 1Y
- -17.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETCO vs. BTRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -34.48% | -24.78% |
BTRN Global X Bitcoin Trend Strategy ETF | -9.20% | -8.44% |
Correlation
The correlation between ETCO and BTRN 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 (All Time) Calculated using the full available price history since Sep 5, 2025 | 0.55 |
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Return for Risk
ETCO vs. BTRN — Risk / Return Rank
ETCO
BTRN
ETCO vs. BTRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Covered Call ETF (ETCO) and Global X Bitcoin Trend Strategy ETF (BTRN). 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 | BTRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.17 | 0.00 | -1.18 |
Drawdowns
ETCO vs. BTRN - Drawdown Comparison
The maximum ETCO drawdown since its inception was -56.81%, which is greater than BTRN's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for ETCO and BTRN.
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Drawdown Indicators
| ETCO | BTRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.81% | -36.97% | -19.84% |
Max Drawdown (1Y)Largest decline over 1 year | — | -25.29% | — |
Current DrawdownCurrent decline from peak | -55.08% | -25.22% | -29.86% |
Average DrawdownAverage peak-to-trough decline | -34.54% | -14.43% | -20.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 14.76% | — |
Volatility
ETCO vs. BTRN - Volatility Comparison
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Volatility by Period
| ETCO | BTRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.93% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.35% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 52.38% | 19.84% | +32.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.38% | 30.94% | +21.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.38% | 30.94% | +21.44% |
ETCO vs. BTRN - Expense Ratio Comparison
ETCO has a 0.66% expense ratio, which is lower than BTRN's 0.95% expense ratio.
Dividends
ETCO vs. BTRN - Dividend Comparison
ETCO's dividend yield for the trailing twelve months is around 129.56%, more than BTRN's 30.57% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | 30.57% | 27.76% | 2.56% |
ETCO Grayscale Ethereum Covered Call ETF | 129.56% | 42.29% | 0.00% |
Frequently Asked Questions
ETCO and BTRN 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.
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 0.95% for BTRN.
ETCO has the higher dividend yield at 129.56%, compared with 30.57% for BTRN.
They also come from different issuers: Grayscale and Global X. Their fees differ too: 0.66% for ETCO and 0.95% for BTRN.
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