HBIX.NEO vs. YBTC

Last updated Jun 5, 2026

HBIX.NEO (Harvest Bitcoin Enhanced Income ETF) and YBTC (Roundhill Bitcoin Covered Call Strategy ETF) are both exchange-traded funds - HBIX.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest, while YBTC is a Cryptocurrency fund actively managed by Roundhill. Both are actively managed. Over the past year, HBIX.NEO returned -43.20% vs -35.76% for YBTC. Their correlation of 0.87 suggests significant overlap in exposure. HBIX.NEO charges 0.65%/yr vs 0.95%/yr for YBTC.

Performance

HBIX.NEO vs. YBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HBIX.NEO is traded in CAD, while YBTC is traded in USD. To make them comparable, the YBTC values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HBIX.NEO achieves a -31.13% return, which is significantly lower than YBTC's -24.48% return.

HBIX.NEO

• 1D: -3.20%
• 1M: -23.49%
• YTD: -31.13%
• 6M: -35.51%
• 1Y: -43.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YBTC

• 1D: -2.67%
• 1M: -18.04%
• YTD: -24.48%
• 6M: -28.89%
• 1Y: -35.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HBIX.NEO vs. YBTC - Yearly Performance Comparison

	2026 (YTD)	2025
HBIX.NEO Harvest Bitcoin Enhanced Income ETF	-31.13%	-6.82%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-24.48%	-5.02%

Correlation

The correlation between HBIX.NEO and YBTC is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.87

The correlation between HBIX.NEO and YBTC has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

Return for Risk

HBIX.NEO vs. YBTC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HBIX.NEO

HBIX.NEO Risk / Return Rank: 2
HBIX.NEO Sharpe Ratio Rank: 3
HBIX.NEO Sortino Ratio Rank: 3
HBIX.NEO Omega Ratio Rank: 3
HBIX.NEO Calmar Ratio Rank: 2
HBIX.NEO Martin Ratio Rank: 2

YBTC

YBTC Risk / Return Rank: 2
YBTC Sharpe Ratio Rank: 2
YBTC Sortino Ratio Rank: 2
YBTC Omega Ratio Rank: 2
YBTC Calmar Ratio Rank: 2
YBTC Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HBIX.NEO vs. YBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC). 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.

	HBIX.NEO	YBTC	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	-0.93	+0.09
Sortino ratio: Return per unit of downside risk	-1.13	-1.24	+0.11
Omega ratio: Gain probability vs. loss probability	0.87	0.84	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.78	-0.76	-0.02
Martin ratio: Return relative to average drawdown	-1.36	-1.38	+0.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HBIX.NEO vs. YBTC - Sharpe Ratio Comparison

The current HBIX.NEO Sharpe Ratio is -0.84, which is comparable to the YBTC Sharpe Ratio of -0.93. The chart below compares the historical Sharpe Ratios of HBIX.NEO and YBTC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HBIX.NEO	YBTC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	-0.93	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	-0.66	0.17	-0.82

Drawdowns

HBIX.NEO vs. YBTC - Drawdown Comparison

The maximum HBIX.NEO drawdown since its inception was -55.90%, which is greater than YBTC's maximum drawdown of -47.42%. Use the drawdown chart below to compare losses from any high point for HBIX.NEO and YBTC.

Drawdown Indicators

	HBIX.NEO	YBTC	Difference
Max Drawdown Largest peak-to-trough decline	-55.90%	-47.42%	-8.48%
Max Drawdown (1Y) Largest decline over 1 year	-55.90%	-47.42%	-8.48%
Current Drawdown Current decline from peak	-54.39%	-45.16%	-9.23%
Average Drawdown Average peak-to-trough decline	-23.86%	-13.16%	-10.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.75%	25.91%	+5.84%

Volatility

HBIX.NEO vs. YBTC - Volatility Comparison

Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) has a higher volatility of 11.19% compared to Roundhill Bitcoin Covered Call Strategy ETF (YBTC) at 8.74%. This indicates that HBIX.NEO's price experiences larger fluctuations and is considered to be riskier than YBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBIX.NEO	YBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.19%	8.74%	+2.45%
Volatility (6M) Calculated over the trailing 6-month period	40.86%	31.08%	+9.78%
Volatility (1Y) Calculated over the trailing 1-year period	51.68%	38.63%	+13.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.94%	40.25%	+10.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.94%	40.25%	+10.69%

HBIX.NEO vs. YBTC - Expense Ratio Comparison

HBIX.NEO has a 0.65% expense ratio, which is lower than YBTC's 0.95% expense ratio.

Dividends

HBIX.NEO vs. YBTC - Dividend Comparison

HBIX.NEO's dividend yield for the trailing twelve months is around 45.99%, less than YBTC's 90.64% yield.

Position	TTM	2025	2024
HBIX.NEO Harvest Bitcoin Enhanced Income ETF	45.99%	20.21%	0.00%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	90.64%	76.04%	44.53%

Frequently Asked Questions

Can I hold both HBIX.NEO and YBTC in my portfolio?

HBIX.NEO and YBTC have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HBIX.NEO or YBTC?

On fees, HBIX.NEO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HBIX.NEO or YBTC?

HBIX.NEO is cheaper with a 0.65% expense ratio, compared with 0.95% for YBTC.

What is the main difference between HBIX.NEO and YBTC?

HBIX.NEO is categorized as Leveraged Cryptocurrency, while YBTC is Cryptocurrency. They also come from different issuers: Harvest and Roundhill. Their fees differ too: 0.65% for HBIX.NEO and 0.95% for YBTC.