ICOI vs. CRSH

Last updated Apr 1, 2026

Compare and contrast key facts about Bitwise COIN Option Income Strategy ETF (ICOI) and YieldMax Short TSLA Option Income Strategy ETF (CRSH).

ICOI and CRSH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICOI is an actively managed fund by Bitwise. It was launched on Apr 1, 2025. CRSH is an actively managed fund by YieldMax. It was launched on May 1, 2024.

Performance

ICOI vs. CRSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise COIN Option Income Strategy ETF (ICOI) and YieldMax Short TSLA Option Income Strategy ETF (CRSH). The values are adjusted to include any dividend payments, if applicable.

ICOI vs. CRSH - Yearly Performance Comparison

	2026 (YTD)	2025
ICOI Bitwise COIN Option Income Strategy ETF	-21.92%	-7.98%
CRSH YieldMax Short TSLA Option Income Strategy ETF	20.49%	-36.28%

Returns By Period

In the year-to-date period, ICOI achieves a -21.92% return, which is significantly lower than CRSH's 20.49% return.

ICOI

• 1D: 5.32%
• 1M: -7.30%
• YTD: -21.92%
• 6M: -47.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CRSH

• 1D: -3.11%
• 1M: 7.70%
• YTD: 20.49%
• 6M: 22.66%
• 1Y: -25.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICOI vs. CRSH - Expense Ratio Comparison

ICOI has a 0.98% expense ratio, which is lower than CRSH's 0.99% expense ratio.

CRSH

YieldMax Short TSLA Option Income Strategy ETF

ICOI

Bitwise COIN Option Income Strategy ETF

Return for Risk

ICOI vs. CRSH — Risk / Return Rank

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

CRSH

CRSH Risk / Return Rank: 4
CRSH Sharpe Ratio Rank: 3
CRSH Sortino Ratio Rank: 3
CRSH Omega Ratio Rank: 3
CRSH Calmar Ratio Rank: 4
CRSH Martin Ratio Rank: 7

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.

ICOI vs. CRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise COIN Option Income Strategy ETF (ICOI) and YieldMax Short TSLA Option Income Strategy ETF (CRSH). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ICOI	CRSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	-0.63	+0.08

Correlation

The correlation between ICOI and CRSH is -0.46. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

ICOI vs. CRSH - Dividend Comparison

ICOI's dividend yield for the trailing twelve months is around 373.22%, more than CRSH's 98.84% yield.

	TTM	2025	2024
ICOI Bitwise COIN Option Income Strategy ETF	373.22%	247.40%	0.00%
CRSH YieldMax Short TSLA Option Income Strategy ETF	98.84%	138.78%	94.25%

Drawdowns

ICOI vs. CRSH - Drawdown Comparison

The maximum ICOI drawdown since its inception was -58.10%, smaller than the maximum CRSH drawdown of -63.68%. Use the drawdown chart below to compare losses from any high point for ICOI and CRSH.

Drawdown Indicators

	ICOI	CRSH	Difference
Max Drawdown Largest peak-to-trough decline	-58.10%	-63.68%	+5.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-48.16%	—
Current Drawdown Current decline from peak	-55.07%	-52.59%	-2.48%
Average Drawdown Average peak-to-trough decline	-23.12%	-41.89%	+18.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	35.17%	—

Volatility

Volatility by Period

	ICOI	CRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	52.11%	42.40%	+9.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.11%	48.40%	+3.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.11%	48.40%	+3.71%