HCOW vs. BITY
HCOW (Amplify Cash Flow High Income ETF) and BITY (Amplify Bitcoin 2% Monthly Option Income ETF) are both exchange-traded funds - HCOW is a Large Cap Value Equities fund actively managed by Amplify, while BITY is a Derivative Income fund actively managed by Amplify. Both are actively managed. Over the past year, HCOW returned 23.43% vs -43.57% for BITY. Their 0.29 correlation means their historical movements had little consistent relationship. Both charge a 0.65% expense ratio.
Performance
HCOW vs. BITY - Performance Comparison
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Returns By Period
In the year-to-date period, HCOW achieves a 10.71% return, which is significantly higher than BITY's -26.11% return.
HCOW
- 1D
- 0.33%
- 1M
- 5.12%
- 6M
- 9.66%
- YTD
- 10.71%
- 1Y
- 23.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.16%
BITY
- 1D
- -2.83%
- 1M
- 2.10%
- 6M
- -23.81%
- YTD
- -26.11%
- 1Y
- -43.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $100.16K | $157.87K | $174.55K | |
| $145.82K | $136.25K | $131.36K |
HCOW vs. BITY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HCOW Amplify Cash Flow High Income ETF | 10.71% | 19.33% |
BITY Amplify Bitcoin 2% Monthly Option Income ETF | -26.11% | -7.84% |
Correlation
The correlation between HCOW and BITY 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 Apr 29, 2025 | 0.29 |
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Return for Risk
HCOW vs. BITY — Risk / Return Rank
HCOW
BITY
HCOW vs. BITY - 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 2% Monthly Option Income ETF (BITY). 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.
| HCOW | BITY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.66 | ||
| Sortino ratioReturn per unit of downside risk | +3.99 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.82 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | -0.90 | +4.32 |
| Martin ratioReturn relative to average drawdown | 11.36 | -1.40 | +12.77 |
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Drawdowns
HCOW vs. BITY - Drawdown Comparison
The maximum HCOW drawdown since its inception was -24.15%, smaller than the maximum BITY drawdown of -50.87%. Use the drawdown chart below to compare losses from any high point for HCOW and BITY.
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Drawdown Indicators
| HCOW | BITY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.15% | -50.87% | +26.72% |
Max Drawdown (1Y)Largest decline over 1 year | -6.29% | -50.87% | +44.58% |
Current DrawdownCurrent decline from peak | -0.92% | -47.63% | +46.71% |
Average DrawdownAverage peak-to-trough decline | -4.73% | -23.13% | +18.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 32.54% | -30.65% |
Volatility
HCOW vs. BITY - Volatility Comparison
The current volatility for Amplify Cash Flow High Income ETF (HCOW) is 4.10%, while Amplify Bitcoin 2% Monthly Option Income ETF (BITY) has a volatility of 9.22%. This indicates that HCOW experiences smaller price fluctuations and is considered to be less risky than BITY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCOW | BITY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.10% | 9.22% | -5.12% |
Volatility (6M)Calculated over the trailing 6-month period | 9.13% | 31.63% | -22.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.86% | 41.58% | -27.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 39.00% | -21.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.39% | 39.00% | -21.61% |
HCOW vs. BITY - Expense Ratio Comparison
Both HCOW and BITY have an expense ratio of 0.65%.
Dividends
HCOW vs. BITY - Dividend Comparison
HCOW's dividend yield for the trailing twelve months is around 11.56%, less than BITY's 37.67% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITY Amplify Bitcoin 2% Monthly Option Income ETF | 37.67% | 21.53% | 0.00% | 0.00% |
HCOW Amplify Cash Flow High Income ETF | 11.56% | 10.88% | 8.13% | 1.99% |
Frequently Asked Questions
HCOW and BITY 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.
BITY has higher volatility (9.22%) compared to HCOW (4.10%). In terms of maximum drawdown, HCOW dropped -24.15% vs BITY's -50.87%.
On 1-year performance, HCOW leads with 23.43% vs -43.57% for BITY. Both ETFs have the same 0.65% expense ratio. On volatility, HCOW has been the lower-risk option at 4.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HCOW has performed better with a 23.43% return vs -43.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HCOW and BITY have the same expense ratio: 0.65% per year.
BITY has the higher dividend yield at 37.67%, compared with 11.56% for HCOW.
HCOW is categorized as Large Cap Value Equities, while BITY is Derivative Income.
HCOW currently has the higher Sharpe Ratio (1.56 vs -1.10), 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.
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