ICRC vs. HOII

Last updated Jun 24, 2026

ICRC (Bitwise CRCL Option Income Strategy ETF) and HOII (REX HOOD Growth & Income ETF) are both Derivative Income funds. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. ICRC charges 0.98%/yr vs 0.99%/yr for HOII.

Performance

ICRC vs. HOII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise CRCL Option Income Strategy ETF (ICRC) 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, ICRC achieves a -16.48% return, which is significantly lower than HOII's 19,132.59% return.

ICRC

• 1D: -3.44%
• 1M: -26.81%
• YTD: -16.48%
• 6M: -18.78%
• 1Y: —
• 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)

ICRC vs. HOII - Yearly Performance Comparison

	2026 (YTD)	2025
ICRC Bitwise CRCL Option Income Strategy ETF	-16.48%	-26.64%
HOII REX HOOD Growth & Income ETF	19,132.59%	-23.54%

Correlation

The correlation between ICRC and HOII is 0.60, 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	0.60

Return for Risk

ICRC vs. HOII - Risk-Adjusted Trends Comparison

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

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

Drawdowns

ICRC vs. HOII - Drawdown Comparison

The maximum ICRC drawdown since its inception was -55.65%, roughly equal to the maximum HOII drawdown of -55.38%. Use the drawdown chart below to compare losses from any high point for ICRC and HOII.

Drawdown Indicators

	ICRC	HOII	Difference
Max Drawdown Largest peak-to-trough decline	-55.65%	-55.38%	-0.27%
Current Drawdown Current decline from peak	-47.96%	0.00%	-47.96%
Average Drawdown Average peak-to-trough decline	-33.25%	-36.68%	+3.43%

Volatility

Volatility by Period

	ICRC	HOII	Difference
Volatility (1Y) Calculated over the trailing 1-year period	67.34%	34,045.59%	-33,978.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.34%	34,045.59%	-33,978.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.34%	34,045.59%	-33,978.25%

ICRC vs. HOII - Expense Ratio Comparison

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

Dividends

ICRC vs. HOII - Dividend Comparison

ICRC's dividend yield for the trailing twelve months is around 48.29%, less than HOII's 120.87% yield.

Position	TTM	2025
HOII REX HOOD Growth & Income ETF	120.87%	4.41%
ICRC Bitwise CRCL Option Income Strategy ETF	48.29%	17.79%

Frequently Asked Questions

Can I hold both ICRC and HOII in my portfolio?

ICRC and HOII have a correlation of 0.60, 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 HOII?

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 HOII?

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

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

HOII has the higher dividend yield at 120.87%, compared with 48.29% for ICRC.

What is the main difference between ICRC and HOII?

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