ICRC vs. AMDW

Last updated Jun 4, 2026

ICRC (Bitwise CRCL Option Income Strategy ETF) and AMDW (Roundhill AMD WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. At a 0.31 correlation, their price movements are largely independent. ICRC charges 0.98%/yr vs 0.99%/yr for AMDW.

Performance

ICRC vs. AMDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise CRCL Option Income Strategy ETF (ICRC) and Roundhill AMD WeeklyPay ETF (AMDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICRC achieves a -5.38% return, which is significantly lower than AMDW's 192.40% return.

ICRC

• 1D: -8.76%
• 1M: -16.63%
• YTD: -5.38%
• 6M: -7.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMDW

• 1D: 4.91%
• 1M: 72.80%
• YTD: 192.40%
• 6M: 186.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICRC vs. AMDW - Yearly Performance Comparison

	2026 (YTD)	2025
ICRC Bitwise CRCL Option Income Strategy ETF	-5.38%	-36.21%
AMDW Roundhill AMD WeeklyPay ETF	192.40%	28.47%

Correlation

The correlation between ICRC and AMDW is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 3, 2025	0.31

Return for Risk

ICRC vs. AMDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise CRCL Option Income Strategy ETF (ICRC) and Roundhill AMD WeeklyPay ETF (AMDW). 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

	ICRC	AMDW	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.79	4.83	-5.62

Drawdowns

ICRC vs. AMDW - Drawdown Comparison

The maximum ICRC drawdown since its inception was -55.65%, which is greater than AMDW's maximum drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for ICRC and AMDW.

Drawdown Indicators

	ICRC	AMDW	Difference
Max Drawdown Largest peak-to-trough decline	-55.65%	-34.64%	-21.01%
Current Drawdown Current decline from peak	-41.04%	0.00%	-41.04%
Average Drawdown Average peak-to-trough decline	-32.47%	-14.66%	-17.81%

Volatility

Volatility by Period

	ICRC	AMDW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	67.59%	81.56%	-13.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.59%	81.56%	-13.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.59%	81.56%	-13.97%

ICRC vs. AMDW - Expense Ratio Comparison

ICRC has a 0.98% expense ratio, which is lower than AMDW's 0.99% expense ratio.

Dividends

ICRC vs. AMDW - Dividend Comparison

ICRC's dividend yield for the trailing twelve months is around 42.62%, more than AMDW's 28.98% yield.

Position	TTM	2025
AMDW Roundhill AMD WeeklyPay ETF	28.98%	34.78%
ICRC Bitwise CRCL Option Income Strategy ETF	42.62%	17.79%

Frequently Asked Questions

Can I hold both ICRC and AMDW in my portfolio?

ICRC and AMDW have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICRC or AMDW?

On fees, ICRC 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, ICRC or AMDW?

ICRC is cheaper with a 0.98% expense ratio, compared with 0.99% for AMDW.

Which ETF pays a higher dividend yield, ICRC or AMDW?

ICRC has the higher dividend yield at 42.62%, compared with 28.98% for AMDW.

What is the main difference between ICRC and AMDW?

They also come from different issuers: Bitwise and Roundhill. Their fees differ too: 0.98% for ICRC and 0.99% for AMDW.