ICOI vs. HOII

Last updated Jun 24, 2026

ICOI (Bitwise COIN Option Income Strategy ETF) and HOII (REX HOOD Growth & Income ETF) are both Derivative Income funds. Both are actively managed. A 0.76 correlation means they provide meaningful diversification when combined. ICOI charges 0.98%/yr vs 0.99%/yr for HOII.

Performance

ICOI vs. HOII - Performance Comparison

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

Returns By Period

In the year-to-date period, ICOI achieves a -22.48% return, which is significantly lower than HOII's 19,132.59% return.

ICOI

• 1D: -2.85%
• 1M: -9.13%
• YTD: -22.48%
• 6M: -27.43%
• 1Y: -46.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOII

• 1D: 0.00%
• 1M: 30,031.23%
• YTD: 19,132.59%
• 6M: 17,912.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICOI vs. HOII - Yearly Performance Comparison

	2026 (YTD)	2025
ICOI Bitwise COIN Option Income Strategy ETF	-22.48%	-28.14%
HOII REX HOOD Growth & Income ETF	19,132.59%	-23.54%

Correlation

The correlation between ICOI and HOII is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 4, 2025	0.76

Return for Risk

ICOI vs. HOII — Risk / Return Rank

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

ICOI

ICOI Risk / Return Rank: 2
ICOI Sharpe Ratio Rank: 2
ICOI Sortino Ratio Rank: 2
ICOI Omega Ratio Rank: 2
ICOI Calmar Ratio Rank: 2
ICOI Martin Ratio Rank: 3

HOII

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

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. HOII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise COIN Option Income Strategy ETF (ICOI) and REX HOOD Growth & Income ETF (HOII). 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.

	ICOI	HOII	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	—	—
Sortino ratio: Return per unit of downside risk	-1.31	—	—
Omega ratio: Gain probability vs. loss probability	0.84	—	—
Calmar ratio: Return relative to maximum drawdown	-0.79	—	—
Martin ratio: Return relative to average drawdown	-1.19	—	—

Drawdowns

ICOI vs. HOII - Drawdown Comparison

The maximum ICOI drawdown since its inception was -58.10%, roughly equal to the maximum HOII drawdown of -55.38%. Use the drawdown chart below to compare losses from any high point for ICOI and HOII.

Drawdown Indicators

	ICOI	HOII	Difference
Max Drawdown Largest peak-to-trough decline	-58.10%	-55.38%	-2.72%
Max Drawdown (1Y) Largest decline over 1 year	-58.10%	—	—
Current Drawdown Current decline from peak	-55.39%	0.00%	-55.39%
Average Drawdown Average peak-to-trough decline	-28.53%	-36.68%	+8.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.60%	—	—

Volatility

Volatility by Period

	ICOI	HOII	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	35.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	49.30%	34,045.59%	-33,996.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.01%	34,045.59%	-33,995.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.01%	34,045.59%	-33,995.58%

ICOI vs. HOII - Expense Ratio Comparison

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

Dividends

ICOI vs. HOII - Dividend Comparison

ICOI's dividend yield for the trailing twelve months is around 338.69%, more than HOII's 120.87% yield.

Position	TTM	2025
HOII REX HOOD Growth & Income ETF	120.87%	4.41%
ICOI Bitwise COIN Option Income Strategy ETF	338.69%	247.40%

Frequently Asked Questions

Can I hold both ICOI and HOII in my portfolio?

ICOI and HOII have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICOI or HOII?

On fees, ICOI is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICOI or HOII?

ICOI is cheaper with a 0.98% expense ratio, compared with 0.99% for HOII.

Which ETF pays a higher dividend yield, ICOI or HOII?

ICOI has the higher dividend yield at 338.69%, compared with 120.87% for HOII.

What is the main difference between ICOI and HOII?

They also come from different issuers: Bitwise and REX. Their fees differ too: 0.98% for ICOI and 0.99% for HOII.