TSPY vs. BTCI

Last updated Jun 16, 2026

TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) and BTCI (NEOS Bitcoin High Income ETF) are both exchange-traded funds - TSPY is a Derivative Income fund actively managed by TappAlpha, while BTCI is a Cryptocurrency fund actively managed by Neos. Both are actively managed. Over the past year, TSPY returned 24.68% vs -31.68% for BTCI. At a 0.42 correlation, their price movements are largely independent. TSPY charges 0.68%/yr vs 0.99%/yr for BTCI.

Performance

TSPY vs. BTCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) and NEOS Bitcoin High Income ETF (BTCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSPY achieves a 8.33% return, which is significantly higher than BTCI's -21.19% return.

TSPY

• 1D: 1.42%
• 1M: 1.82%
• YTD: 8.33%
• 6M: 8.97%
• 1Y: 24.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCI

• 1D: 4.45%
• 1M: -14.41%
• YTD: -21.19%
• 6M: -19.55%
• 1Y: -31.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSPY vs. BTCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSPY TappAlpha S&P 500 Growth & Daily Income ETF	8.33%	17.29%	-0.04%
BTCI NEOS Bitcoin High Income ETF	-21.19%	-1.09%	26.12%

Correlation

The correlation between TSPY and BTCI is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.42

Return for Risk

TSPY vs. BTCI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TSPY

TSPY Risk / Return Rank: 67
TSPY Sharpe Ratio Rank: 71
TSPY Sortino Ratio Rank: 69
TSPY Omega Ratio Rank: 72
TSPY Calmar Ratio Rank: 57
TSPY Martin Ratio Rank: 68

BTCI

BTCI Risk / Return Rank: 3
BTCI Sharpe Ratio Rank: 3
BTCI Sortino Ratio Rank: 3
BTCI Omega Ratio Rank: 3
BTCI Calmar Ratio Rank: 4
BTCI Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TSPY vs. BTCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) 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.

	TSPY	BTCI	Difference
Sharpe ratio: Return per unit of total volatility	2.04	-0.80	+2.84
Sortino ratio: Return per unit of downside risk	2.80	-1.03	+3.82
Omega ratio: Gain probability vs. loss probability	1.38	0.88	+0.50
Calmar ratio: Return relative to maximum drawdown	2.57	-0.67	+3.25
Martin ratio: Return relative to average drawdown	11.17	-1.21	+12.38

TSPY vs. BTCI - Sharpe Ratio Comparison

The current TSPY Sharpe Ratio is 2.04, which is higher than the BTCI Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of TSPY and BTCI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TSPY vs. BTCI - Drawdown Comparison

The maximum TSPY drawdown since its inception was -18.02%, smaller than the maximum BTCI drawdown of -47.16%. Use the drawdown chart below to compare losses from any high point for TSPY and BTCI.

Drawdown Indicators

	TSPY	BTCI	Difference
Max Drawdown Largest peak-to-trough decline	-18.02%	-47.16%	+29.14%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-47.16%	+37.53%
Current Drawdown Current decline from peak	-0.93%	-41.72%	+40.79%
Average Drawdown Average peak-to-trough decline	-2.52%	-15.72%	+13.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	26.28%	-24.07%

Volatility

TSPY vs. BTCI - Volatility Comparison

The current volatility for TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) is 4.32%, while NEOS Bitcoin High Income ETF (BTCI) has a volatility of 12.19%. This indicates that TSPY 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.

Volatility by Period

	TSPY	BTCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	12.19%	-7.87%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	31.46%	-21.97%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	39.73%	-27.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	40.37%	-24.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	40.37%	-24.23%

TSPY vs. BTCI - Expense Ratio Comparison

TSPY has a 0.68% expense ratio, which is lower than BTCI's 0.99% expense ratio.

Dividends

TSPY vs. BTCI - Dividend Comparison

TSPY's dividend yield for the trailing twelve months is around 13.79%, less than BTCI's 42.31% yield.

Position	TTM	2025	2024
BTCI NEOS Bitcoin High Income ETF	42.31%	36.46%	6.76%
TSPY TappAlpha S&P 500 Growth & Daily Income ETF	13.79%	13.69%	3.45%

Frequently Asked Questions

Can I hold both TSPY and BTCI in my portfolio?

TSPY and BTCI have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSPY or BTCI?

BTCI has higher volatility (12.19%) compared to TSPY (4.32%). In terms of maximum drawdown, TSPY dropped -18.02% vs BTCI's -47.16%.

Which ETF is better, TSPY or BTCI?

On 1-year performance, TSPY leads with 24.68% vs -31.68% for BTCI. On fees, TSPY is cheaper at 0.68% per year. On volatility, TSPY has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSPY or BTCI?

Over the 1-year period, TSPY has performed better with a 24.68% return vs -31.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSPY or BTCI?

TSPY is cheaper with a 0.68% expense ratio, compared with 0.99% for BTCI.

Which ETF pays a higher dividend yield, TSPY or BTCI?

BTCI has the higher dividend yield at 42.31%, compared with 13.79% for TSPY.

What is the main difference between TSPY and BTCI?

TSPY is categorized as Derivative Income, while BTCI is Cryptocurrency. They also come from different issuers: TappAlpha and Neos. Their fees differ too: 0.68% for TSPY and 0.99% for BTCI.

Which has better risk-adjusted returns?

TSPY currently has the higher Sharpe Ratio (2.04 vs -0.80), 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.