UTES vs. BCCL.NEO
UTES (Virtus Reaves Utilities ETF) and BCCL.NEO (Global X Enhanced Bitcoin Covered Call ETF) are both exchange-traded funds - UTES is a Utilities Equities fund actively managed by Virtus Investment Partners, while BCCL.NEO is a Derivative Income fund actively managed by Global X. Both are actively managed. Over the past year, UTES returned 8.95% vs -41.99% for BCCL.NEO. At a 0.18 correlation, their price movements are largely independent.
Performance
UTES vs. BCCL.NEO - Performance Comparison
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Different Trading Currencies
UTES is traded in USD, while BCCL.NEO is traded in CAD. To make them comparable, the BCCL.NEO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, UTES achieves a 0.26% return, which is significantly higher than BCCL.NEO's -30.65% return.
UTES
- 1D
- 1.56%
- 1M
- -0.82%
- YTD
- 0.26%
- 6M
- 0.49%
- 1Y
- 8.95%
- 3Y*
- 22.00%
- 5Y*
- 15.32%
- 10Y*
- 12.27%
BCCL.NEO
- 1D
- 3.76%
- 1M
- -23.40%
- YTD
- -30.65%
- 6M
- -32.72%
- 1Y
- -41.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UTES vs. BCCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UTES Virtus Reaves Utilities ETF | 0.26% | 16.65% |
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | -30.65% | -5.95% |
Correlation
The correlation between UTES and BCCL.NEO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 5, 2025 | 0.18 |
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Return for Risk
UTES vs. BCCL.NEO — Risk / Return Rank
UTES
BCCL.NEO
UTES vs. BCCL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Reaves Utilities ETF (UTES) and Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO). 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.
| UTES | BCCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.85 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | -0.78 | +1.39 |
| Martin ratioReturn relative to average drawdown | 1.32 | -1.41 | +2.74 |
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Drawdowns
UTES vs. BCCL.NEO - Drawdown Comparison
The maximum UTES drawdown since its inception was -35.39%, smaller than the maximum BCCL.NEO drawdown of -55.08%. Use the drawdown chart below to compare losses from any high point for UTES and BCCL.NEO.
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Drawdown Indicators
| UTES | BCCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -55.08% | +19.69% |
Max Drawdown (1Y)Largest decline over 1 year | -13.88% | -55.08% | +41.20% |
Max Drawdown (3Y)Largest decline over 3 years | -17.62% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.39% | — | — |
Current DrawdownCurrent decline from peak | -9.10% | -51.87% | +42.77% |
Average DrawdownAverage peak-to-trough decline | -5.53% | -22.67% | +17.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.29% | 30.49% | -24.20% |
Volatility
UTES vs. BCCL.NEO - Volatility Comparison
The current volatility for Virtus Reaves Utilities ETF (UTES) is 7.23%, while Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) has a volatility of 15.04%. This indicates that UTES experiences smaller price fluctuations and is considered to be less risky than BCCL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTES | BCCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.23% | 15.04% | -7.81% |
Volatility (6M)Calculated over the trailing 6-month period | 17.05% | 33.28% | -16.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.32% | 44.83% | -23.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.62% | 44.32% | -23.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 44.32% | -24.15% |
Dividends
UTES vs. BCCL.NEO - Dividend Comparison
UTES's dividend yield for the trailing twelve months is around 1.49%, less than BCCL.NEO's 41.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | 39.89% | 16.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UTES Virtus Reaves Utilities ETF | 1.49% | 1.42% | 1.51% | 2.44% | 2.13% | 1.94% | 2.09% | 1.84% | 2.09% | 3.44% | 3.53% | 0.61% |
Frequently Asked Questions
UTES and BCCL.NEO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTES is categorized as Utilities Equities, while BCCL.NEO is Derivative Income. They also come from different issuers: Virtus Investment Partners and Global X.
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