HODL vs. BITY
HODL (VanEck Bitcoin Trust) and BITY (Amplify Bitcoin 2% Monthly Option Income ETF) are both exchange-traded funds - HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while BITY is a Derivative Income fund actively managed by Amplify. HODL is passively managed, while BITY is actively managed. Over the past year, HODL returned -38.56% vs -37.35% for BITY. With a 0.99 correlation, they move nearly in lockstep. HODL charges 0.25%/yr vs 0.65%/yr for BITY.
Performance
HODL vs. BITY - Performance Comparison
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Returns By Period
In the year-to-date period, HODL achieves a -25.27% return, which is significantly lower than BITY's -23.09% return.
HODL
- 1D
- -2.79%
- 1M
- -18.34%
- YTD
- -25.27%
- 6M
- -29.73%
- 1Y
- -38.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITY
- 1D
- -2.61%
- 1M
- -19.63%
- YTD
- -23.09%
- 6M
- -26.69%
- 1Y
- -37.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HODL vs. BITY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HODL VanEck Bitcoin Trust | -25.27% | -8.34% |
BITY Amplify Bitcoin 2% Monthly Option Income ETF | -23.09% | -8.21% |
Correlation
The correlation between HODL and BITY is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025 | 0.99 |
The correlation between HODL and BITY has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
HODL vs. BITY — Risk / Return Rank
HODL
BITY
HODL vs. BITY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin Trust (HODL) 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.
| HODL | BITY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.85 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.81 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.41 | +0.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HODL | BITY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | -0.94 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | -0.70 | +1.00 |
Drawdowns
HODL vs. BITY - Drawdown Comparison
The maximum HODL drawdown since its inception was -49.25%, which is greater than BITY's maximum drawdown of -46.36%. Use the drawdown chart below to compare losses from any high point for HODL and BITY.
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Drawdown Indicators
| HODL | BITY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.25% | -46.36% | -2.89% |
Max Drawdown (1Y)Largest decline over 1 year | -49.25% | -46.36% | -2.89% |
Current DrawdownCurrent decline from peak | -47.93% | -45.49% | -2.44% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -19.67% | +3.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.35% | 26.48% | +1.87% |
Volatility
HODL vs. BITY - Volatility Comparison
VanEck Bitcoin Trust (HODL) and Amplify Bitcoin 2% Monthly Option Income ETF (BITY) have volatilities of 9.43% and 9.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HODL | BITY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.43% | 9.68% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 34.37% | 31.24% | +3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.51% | 39.94% | +3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.88% | 39.02% | +10.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.88% | 39.02% | +10.86% |
HODL vs. BITY - Expense Ratio Comparison
HODL has a 0.25% expense ratio, which is lower than BITY's 0.65% expense ratio.
Dividends
HODL vs. BITY - Dividend Comparison
HODL has not paid dividends to shareholders, while BITY's dividend yield for the trailing twelve months is around 39.66%.
| Position | TTM | 2025 |
|---|---|---|
BITY Amplify Bitcoin 2% Monthly Option Income ETF | 39.66% | 21.53% |
HODL VanEck Bitcoin Trust | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, HODL and BITY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BITY has higher volatility (9.68%) compared to HODL (9.43%). In terms of maximum drawdown, HODL dropped -49.25% vs BITY's -46.36%.
On 1-year performance, BITY leads with -37.35% vs -38.56% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, HODL has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BITY has performed better with a -37.35% return vs -38.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HODL is cheaper with a 0.25% expense ratio, compared with 0.65% for BITY.
BITY has the higher dividend yield at 39.66%, compared with 0.00% for HODL.
HODL is categorized as Cryptocurrency, while BITY is Derivative Income. They also come from different issuers: VanEck and Amplify. Their fees differ too: 0.25% for HODL and 0.65% for BITY.
HODL currently has the higher Sharpe Ratio (-0.89 vs -0.94), 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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