HCOW vs. BAGY

Last updated Apr 1, 2026

Compare and contrast key facts about Amplify Cash Flow High Income ETF (HCOW) and Amplify Bitcoin Max Income Covered Call ETF (BAGY).

HCOW and BAGY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HCOW is an actively managed fund by Amplify. It was launched on Sep 19, 2023. BAGY is an actively managed fund by Amplify. It was launched on Apr 28, 2025.

Performance

HCOW vs. BAGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Cash Flow High Income ETF (HCOW) and Amplify Bitcoin Max Income Covered Call ETF (BAGY). The values are adjusted to include any dividend payments, if applicable.

HCOW vs. BAGY - Yearly Performance Comparison

	2026 (YTD)	2025
HCOW Amplify Cash Flow High Income ETF	-1.90%	18.99%
BAGY Amplify Bitcoin Max Income Covered Call ETF	-16.21%	-8.88%

Returns By Period

In the year-to-date period, HCOW achieves a -1.90% return, which is significantly higher than BAGY's -16.21% return.

HCOW

• 1D: 1.72%
• 1M: -4.68%
• YTD: -1.90%
• 6M: 1.78%
• 1Y: 8.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAGY

• 1D: 1.99%
• 1M: 6.25%
• YTD: -16.21%
• 6M: -38.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HCOW vs. BAGY - Expense Ratio Comparison

Both HCOW and BAGY have an expense ratio of 0.65%.

HCOW

Amplify Cash Flow High Income ETF

BAGY

Amplify Bitcoin Max Income Covered Call ETF

Return for Risk

HCOW vs. BAGY — Risk / Return Rank

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

HCOW

HCOW Risk / Return Rank: 25
HCOW Sharpe Ratio Rank: 24
HCOW Sortino Ratio Rank: 25
HCOW Omega Ratio Rank: 26
HCOW Calmar Ratio Rank: 25
HCOW Martin Ratio Rank: 27

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.

HCOW vs. BAGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Cash Flow High Income ETF (HCOW) and Amplify Bitcoin Max Income Covered Call ETF (BAGY). 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.

	HCOW	BAGY	Difference
Sharpe ratio Return per unit of total volatility	0.39	—	—
Sortino ratio Return per unit of downside risk	0.70	—	—
Omega ratio Gain probability vs. loss probability	1.10	—	—
Calmar ratio Return relative to maximum drawdown	0.55	—	—
Martin ratio Return relative to average drawdown	2.09	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HCOW	BAGY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	-0.61	+1.00

Correlation

The correlation between HCOW and BAGY is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HCOW vs. BAGY - Dividend Comparison

HCOW's dividend yield for the trailing twelve months is around 11.93%, less than BAGY's 50.51% yield.

	TTM	2025	2024	2023
HCOW Amplify Cash Flow High Income ETF	11.93%	10.88%	8.13%	1.99%
BAGY Amplify Bitcoin Max Income Covered Call ETF	50.51%	30.16%	0.00%	0.00%

Drawdowns

HCOW vs. BAGY - Drawdown Comparison

The maximum HCOW drawdown since its inception was -24.15%, smaller than the maximum BAGY drawdown of -47.52%. Use the drawdown chart below to compare losses from any high point for HCOW and BAGY.

Drawdown Indicators

	HCOW	BAGY	Difference
Max Drawdown Largest peak-to-trough decline	-24.15%	-47.52%	+23.37%
Max Drawdown (1Y) Largest decline over 1 year	-16.36%	—	—
Current Drawdown Current decline from peak	-4.68%	-41.05%	+36.37%
Average Drawdown Average peak-to-trough decline	-5.11%	-16.66%	+11.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.34%	—	—

Volatility

Volatility by Period

	HCOW	BAGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.94%	42.14%	-21.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.93%	42.14%	-24.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.93%	42.14%	-24.21%