OBTC vs. AMLP
OBTC (Osprey Bitcoin Trust) and AMLP (Alerian MLP ETF) are both exchange-traded funds - OBTC is a Cryptocurrency fund tracking the Bitcoin (BTC), while AMLP is a MLPs fund tracking the Alerian MLP Infrastructure Index. Both are passively managed. Over the past 5 years, OBTC returned 5.44%/yr vs 20.35%/yr for AMLP. Their 0.15 correlation means their historical movements had little consistent relationship. OBTC charges 0.49%/yr vs 0.90%/yr for AMLP.
Performance
OBTC vs. AMLP - Performance Comparison
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Returns By Period
In the year-to-date period, OBTC achieves a -26.66% return, which is significantly lower than AMLP's 21.64% return.
OBTC
- 1D
- 0.95%
- 1M
- 4.80%
- 6M
- -16.02%
- YTD
- -26.66%
- 1Y
- -36.66%
- 3Y*
- 42.55%
- 5Y*
- 5.44%
- 10Y*
- —
- ALL TIME*
- -6.65%
AMLP
- 1D
- -0.25%
- 1M
- 5.65%
- 6M
- 13.62%
- YTD
- 21.64%
- 1Y
- 19.70%
- 3Y*
- 19.61%
- 5Y*
- 20.35%
- 10Y*
- 7.03%
- ALL TIME*
- 5.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
AMLP Alerian MLP ETF | $72.53M | $63.01M | $74.22M |
| $131.03K | $187.41K | $211.76K |
OBTC vs. AMLP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OBTC Osprey Bitcoin Trust | -26.66% | -1.87% | 130.89% | 277.81% | -73.93% | -58.07% |
AMLP Alerian MLP ETF | 21.64% | 5.78% | 22.76% | 21.40% | 25.47% | 25.36% |
Correlation
The correlation between OBTC and AMLP is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2021 | 0.15 |
The correlation between OBTC and AMLP shifts across timeframes, from -0.06 (1 year) to 0.17 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
OBTC vs. AMLP — Risk / Return Rank
OBTC
AMLP
OBTC vs. AMLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Osprey Bitcoin Trust (OBTC) and Alerian MLP ETF (AMLP). 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.
| OBTC | AMLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.41 | ||
| Sortino ratioReturn per unit of downside risk | -3.33 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.28 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.40 | -3.14 |
| Martin ratioReturn relative to average drawdown | -1.18 | 6.72 | -7.89 |
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Drawdowns
OBTC vs. AMLP - Drawdown Comparison
The maximum OBTC drawdown since its inception was -94.50%, which is greater than AMLP's maximum drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for OBTC and AMLP.
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Drawdown Indicators
| OBTC | AMLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.50% | -77.19% | -17.31% |
Max Drawdown (1Y)Largest decline over 1 year | -49.62% | -8.25% | -41.37% |
Max Drawdown (3Y)Largest decline over 3 years | -49.62% | -14.27% | -35.35% |
Max Drawdown (5Y)Largest decline over 5 years | -83.76% | -20.92% | -62.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -72.62% | — |
Current DrawdownCurrent decline from peak | -63.37% | -0.58% | -62.79% |
Average DrawdownAverage peak-to-trough decline | -69.41% | -17.25% | -52.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.21% | 3.02% | +28.19% |
Volatility
OBTC vs. AMLP - Volatility Comparison
Osprey Bitcoin Trust (OBTC) has a higher volatility of 8.17% compared to Alerian MLP ETF (AMLP) at 3.99%. This indicates that OBTC's price experiences larger fluctuations and is considered to be riskier than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OBTC | AMLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.17% | 3.99% | +4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 33.39% | 9.74% | +23.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.92% | 12.48% | +32.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.36% | 19.34% | +37.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 76.18% | 27.65% | +48.53% |
OBTC vs. AMLP - Expense Ratio Comparison
OBTC has a 0.49% expense ratio, which is lower than AMLP's 0.90% expense ratio.
Dividends
OBTC vs. AMLP - Dividend Comparison
OBTC has not paid dividends to shareholders, while AMLP's dividend yield for the trailing twelve months is around 7.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMLP Alerian MLP ETF | 7.31% | 8.36% | 7.70% | 7.86% | 7.70% | 8.55% | 12.31% | 9.12% | 9.29% | 7.97% | 8.09% | 9.84% |
OBTC Osprey Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OBTC and AMLP have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OBTC has higher volatility (8.17%) compared to AMLP (3.99%). In terms of maximum drawdown, OBTC dropped -94.50% vs AMLP's -77.19%.
On 5-year performance, AMLP leads with 20.35% vs 5.44% for OBTC. On fees, OBTC is cheaper at 0.49% per year. On volatility, AMLP has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AMLP has performed better with a 20.35% return vs 5.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OBTC is cheaper with a 0.49% expense ratio, compared with 0.90% for AMLP.
AMLP has the higher dividend yield at 7.31%, compared with 0.00% for OBTC.
OBTC is categorized as Cryptocurrency, while AMLP is MLPs. OBTC tracks Bitcoin (BTC), while AMLP tracks Alerian MLP Infrastructure Index. They also come from different issuers: Osprey and SS&C. Their fees differ too: 0.49% for OBTC and 0.90% for AMLP.
AMLP currently has the higher Sharpe Ratio (1.59 vs -0.82), 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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