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 20.58% vs -42.24% for BTCI. At a 0.22 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 6.60% return, which is significantly higher than BTCI's -26.61% return.
ISMF
- 1D
- -0.19%
- 1M
- -0.30%
- 6M
- 2.17%
- YTD
- 6.60%
- 1Y
- 20.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCI
- 1D
- -2.06%
- 1M
- -2.74%
- 6M
- -29.51%
- YTD
- -26.61%
- 1Y
- -42.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISMF vs. BTCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ISMF iShares Managed Futures Active ETF | 6.60% | 11.53% |
BTCI NEOS Bitcoin High Income ETF | -26.61% | 8.68% |
Correlation
The correlation between ISMF and BTCI is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025 | 0.22 |
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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 | +3.66 | ||
| Sortino ratioReturn per unit of downside risk | +5.08 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 0.82 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 5.25 | -0.87 | +6.12 |
| Martin ratioReturn relative to average drawdown | 16.54 | -1.46 | +18.00 |
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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 -48.42%. 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% | -48.42% | +44.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.94% | -48.42% | +44.48% |
Current DrawdownCurrent decline from peak | -1.63% | -45.73% | +44.10% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -16.97% | +15.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 28.99% | -27.74% |
Volatility
ISMF vs. BTCI - Volatility Comparison
The current volatility for iShares Managed Futures Active ETF (ISMF) is 1.60%, while NEOS Bitcoin High Income ETF (BTCI) has a volatility of 10.63%. 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 | 1.60% | 10.63% | -9.03% |
Volatility (6M)Calculated over the trailing 6-month period | 6.10% | 31.57% | -25.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.99% | 39.92% | -31.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.67% | 40.10% | -32.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.67% | 40.10% | -32.43% |
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 5.85%, less than BTCI's 43.77% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCI NEOS Bitcoin High Income ETF | 43.77% | 36.46% | 6.76% |
ISMF iShares Managed Futures Active ETF | 5.85% | 6.23% | 0.00% |
Frequently Asked Questions
ISMF and BTCI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTCI has higher volatility (10.63%) compared to ISMF (1.60%). In terms of maximum drawdown, ISMF dropped -4.23% vs BTCI's -48.42%.
On 1-year performance, ISMF leads with 20.58% vs -42.24% for BTCI. On fees, ISMF is cheaper at 0.80% per year. On volatility, ISMF has been the lower-risk option at 1.60%. 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 20.58% return vs -42.24%. 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 43.77%, compared with 5.85% 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 (2.59 vs -1.06), 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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