ISMF vs. BTCI
ISMF (iShares Managed Futures Active ETF) and BTCI (NEOS Bitcoin High Income ETF) are both exchange-traded funds - ISMF is a Systematic Trend fund actively managed by iShares, while BTCI is a Cryptocurrency fund actively managed by Neos. Both are actively managed. Over the past year, ISMF returned 21.23% vs -35.09% for BTCI. At a 0.24 correlation, their price movements are largely independent. ISMF charges 0.80%/yr vs 0.99%/yr for BTCI.
Performance
ISMF vs. BTCI - Performance Comparison
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Returns By Period
In the year-to-date period, ISMF achieves a 6.41% return, which is significantly higher than BTCI's -26.19% return.
ISMF
- 1D
- -0.32%
- 1M
- -1.43%
- YTD
- 6.41%
- 6M
- 6.43%
- 1Y
- 21.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCI
- 1D
- -3.23%
- 1M
- -17.15%
- YTD
- -26.19%
- 6M
- -26.22%
- 1Y
- -35.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISMF vs. BTCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ISMF iShares Managed Futures Active ETF | 6.41% | 11.53% |
BTCI NEOS Bitcoin High Income ETF | -26.19% | 8.68% |
Correlation
The correlation between ISMF and BTCI is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025 | 0.24 |
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Return for Risk
ISMF vs. BTCI — Risk / Return Rank
ISMF
BTCI
ISMF vs. BTCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Managed Futures Active ETF (ISMF) and NEOS Bitcoin High Income ETF (BTCI). 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.
| ISMF | BTCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.57 | ||
| Sortino ratioReturn per unit of downside risk | +4.83 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 0.86 | +0.70 |
| Calmar ratioReturn relative to maximum drawdown | 5.41 | -0.75 | +6.16 |
| Martin ratioReturn relative to average drawdown | 18.15 | -1.30 | +19.45 |
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Drawdowns
ISMF vs. BTCI - Drawdown Comparison
The maximum ISMF drawdown since its inception was -4.23%, smaller than the maximum BTCI drawdown of -47.16%. Use the drawdown chart below to compare losses from any high point for ISMF and BTCI.
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Drawdown Indicators
| ISMF | BTCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.23% | -47.16% | +42.93% |
Max Drawdown (1Y)Largest decline over 1 year | -3.94% | -47.16% | +43.22% |
Current DrawdownCurrent decline from peak | -1.81% | -45.42% | +43.61% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -16.05% | +14.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 27.00% | -25.83% |
Volatility
ISMF vs. BTCI - Volatility Comparison
The current volatility for iShares Managed Futures Active ETF (ISMF) is 1.79%, while NEOS Bitcoin High Income ETF (BTCI) has a volatility of 12.63%. This indicates that ISMF experiences smaller price fluctuations and is considered to be less risky than BTCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISMF | BTCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 12.63% | -10.84% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 31.38% | -25.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.97% | 39.73% | -31.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.73% | 40.33% | -32.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.73% | 40.33% | -32.60% |
ISMF vs. BTCI - Expense Ratio Comparison
ISMF has a 0.80% expense ratio, which is lower than BTCI's 0.99% expense ratio.
Dividends
ISMF vs. BTCI - Dividend Comparison
ISMF's dividend yield for the trailing twelve months is around 5.86%, less than BTCI's 48.44% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCI NEOS Bitcoin High Income ETF | 48.44% | 36.46% | 6.76% |
ISMF iShares Managed Futures Active ETF | 5.86% | 6.23% | 0.00% |
Frequently Asked Questions
ISMF and BTCI have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTCI has higher volatility (12.63%) compared to ISMF (1.79%). In terms of maximum drawdown, ISMF dropped -4.23% vs BTCI's -47.16%.
On 1-year performance, ISMF leads with 21.23% vs -35.09% for BTCI. On fees, ISMF is cheaper at 0.80% per year. On volatility, ISMF has been the lower-risk option at 1.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ISMF has performed better with a 21.23% return vs -35.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISMF is cheaper with a 0.80% expense ratio, compared with 0.99% for BTCI.
BTCI has the higher dividend yield at 48.44%, compared with 5.86% for ISMF.
ISMF is categorized as Systematic Trend, while BTCI is Cryptocurrency. They also come from different issuers: iShares and Neos. Their fees differ too: 0.80% for ISMF and 0.99% for BTCI.
ISMF currently has the higher Sharpe Ratio (2.69 vs -0.89), 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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