GDXY vs. BITO

Last updated Aug 2, 2026

GDXY (YieldMax Gold Miners Option Income Strategy ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - GDXY is a Gold fund actively managed by YieldMax, while BITO is a Cryptocurrency fund actively managed by ProShares. Both are actively managed. Over the past year, GDXY returned 13.14% vs -46.40% for BITO. Their 0.22 correlation means their historical movements had little consistent relationship. GDXY charges 1.08%/yr vs 0.95%/yr for BITO.

Performance

GDXY vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Gold Miners Option Income Strategy ETF (GDXY) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXY achieves a -18.85% return, which is significantly higher than BITO's -29.42% return.

GDXY

• 1D: -2.75%
• 1M: -3.94%
• 6M: -22.61%
• YTD: -18.85%
• 1Y: 13.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.49%

BITO

• 1D: -2.85%
• 1M: 2.16%
• 6M: -26.02%
• YTD: -29.42%
• 1Y: -46.40%
• 3Y*: 21.20%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -5.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITO ProShares Bitcoin Strategy ETF	$1.89B	$2.63B	$2.08B
GDXY YieldMax Gold Miners Option Income Strategy ETF	$4.52M	$4.39M	$7.85M

GDXY vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GDXY YieldMax Gold Miners Option Income Strategy ETF	-18.85%	88.08%	-11.84%
BITO ProShares Bitcoin Strategy ETF	-29.42%	-11.19%	27.07%

Correlation

The correlation between GDXY and BITO is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (All Time) Calculated using the full available price history since May 21, 2024	0.22

The correlation between GDXY and BITO shifts across timeframes, from 0.22 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GDXY vs. BITO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GDXY

GDXY Risk / Return Rank: 19
GDXY Sharpe Ratio Rank: 19
GDXY Sortino Ratio Rank: 20
GDXY Omega Ratio Rank: 22
GDXY Calmar Ratio Rank: 18
GDXY Martin Ratio Rank: 17

BITO

BITO Risk / Return Rank: 1
BITO Sharpe Ratio Rank: 1
BITO Sortino Ratio Rank: 1
BITO Omega Ratio Rank: 1
BITO Calmar Ratio Rank: 1
BITO Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GDXY vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Gold Miners Option Income Strategy ETF (GDXY) and ProShares Bitcoin Strategy ETF (BITO). 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.

	GDXY	BITO	Difference
Sharpe ratio: Return per unit of total volatility	0.37	-1.09	+1.46
Sortino ratio: Return per unit of downside risk	0.70	-1.69	+2.40
Omega ratio: Gain probability vs. loss probability	1.10	0.81	+0.28
Calmar ratio: Return relative to maximum drawdown	0.39	-0.89	+1.28
Martin ratio: Return relative to average drawdown	0.85	-1.36	+2.21

GDXY vs. BITO - Sharpe Ratio Comparison

The current GDXY Sharpe Ratio is 0.37, which is higher than the BITO Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of GDXY and BITO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GDXY vs. BITO - Drawdown Comparison

The maximum GDXY drawdown since its inception was -36.99%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for GDXY and BITO.

Drawdown Indicators

	GDXY	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-36.99%	-77.86%	+40.87%
Max Drawdown (1Y) Largest decline over 1 year	-36.99%	-54.47%	+17.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-54.47%	—
Current Drawdown Current decline from peak	-34.85%	-51.32%	+16.47%
Average Drawdown Average peak-to-trough decline	-8.31%	-37.18%	+28.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.02%	35.48%	-18.46%

Volatility

GDXY vs. BITO - Volatility Comparison

YieldMax Gold Miners Option Income Strategy ETF (GDXY) has a higher volatility of 9.85% compared to ProShares Bitcoin Strategy ETF (BITO) at 8.96%. This indicates that GDXY's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXY	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.85%	8.96%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	33.12%	33.45%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	39.36%	44.19%	-4.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.57%	54.60%	-22.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.57%	54.60%	-22.03%

GDXY vs. BITO - Expense Ratio Comparison

GDXY has a 1.08% expense ratio, which is higher than BITO's 0.95% expense ratio.

Dividends

GDXY vs. BITO - Dividend Comparison

GDXY's dividend yield for the trailing twelve months is around 88.00%, more than BITO's 61.66% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	47.47%	78.29%	61.59%	15.14%
GDXY YieldMax Gold Miners Option Income Strategy ETF	88.00%	52.13%	23.91%	0.00%

Frequently Asked Questions

Can I hold both GDXY and BITO in my portfolio?

GDXY and BITO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXY or BITO?

GDXY has higher volatility (9.85%) compared to BITO (8.96%). In terms of maximum drawdown, GDXY dropped -36.99% vs BITO's -77.86%.

Which ETF is better, GDXY or BITO?

On 1-year performance, GDXY leads with 13.14% vs -46.40% for BITO. On fees, BITO is cheaper at 0.95% per year. On volatility, BITO has been the lower-risk option at 8.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXY or BITO?

Over the 1-year period, GDXY has performed better with a 13.14% return vs -46.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXY or BITO?

BITO is cheaper with a 0.95% expense ratio, compared with 1.08% for GDXY.

Which ETF pays a higher dividend yield, GDXY or BITO?

GDXY has the higher dividend yield at 88.00%, compared with 47.47% for BITO.

What is the main difference between GDXY and BITO?

GDXY is categorized as Gold, while BITO is Cryptocurrency. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 1.08% for GDXY and 0.95% for BITO.

Which has better risk-adjusted returns?

GDXY currently has the higher Sharpe Ratio (0.37 vs -1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.