WARP vs. BTCI

Last updated Jul 17, 2026

WARP (VanEck Space ETF) and BTCI (NEOS Bitcoin High Income ETF) are both exchange-traded funds - WARP is a Industrials Equities fund tracking the MarketVector Space Index, while BTCI is a Cryptocurrency fund actively managed by Neos. WARP is passively managed, while BTCI is actively managed. At a 0.21 correlation, their price movements are largely independent. WARP charges 0.50%/yr vs 0.99%/yr for BTCI.

Performance

WARP vs. BTCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Space ETF (WARP) and NEOS Bitcoin High Income ETF (BTCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WARP

• 1D: -6.10%
• 1M: -24.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCI

• 1D: -0.68%
• 1M: -3.01%
• 6M: -29.88%
• YTD: -24.61%
• 1Y: -41.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WARP vs. BTCI - Yearly Performance Comparison

	2026 (YTD)
WARP VanEck Space ETF	-24.57%
BTCI NEOS Bitcoin High Income ETF	-19.55%

Correlation

The correlation between WARP and BTCI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 7, 2026	0.21

Return for Risk

WARP vs. BTCI — Risk / Return Rank

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

WARP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BTCI

BTCI Risk / Return Rank: 2
BTCI Sharpe Ratio Rank: 1
BTCI Sortino Ratio Rank: 2
BTCI Omega Ratio Rank: 2
BTCI Calmar Ratio Rank: 2
BTCI Martin Ratio Rank: 1

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.

WARP vs. BTCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Space ETF (WARP) 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.

	WARP	BTCI	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.04	—
Sortino ratio: Return per unit of downside risk	—	-1.52	—
Omega ratio: Gain probability vs. loss probability	—	0.83	—
Calmar ratio: Return relative to maximum drawdown	—	-0.86	—
Martin ratio: Return relative to average drawdown	—	-1.41	—

Drawdowns

WARP vs. BTCI - Drawdown Comparison

The maximum WARP drawdown since its inception was -48.83%, roughly equal to the maximum BTCI drawdown of -48.42%. Use the drawdown chart below to compare losses from any high point for WARP and BTCI.

Drawdown Indicators

	WARP	BTCI	Difference
Max Drawdown Largest peak-to-trough decline	-48.83%	-48.42%	-0.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-48.42%	—
Current Drawdown Current decline from peak	-48.83%	-44.25%	-4.58%
Average Drawdown Average peak-to-trough decline	-22.53%	-17.15%	-5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	29.39%	—

Volatility

Volatility by Period

	WARP	BTCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	82.26%	39.91%	+42.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.26%	40.04%	+42.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.26%	40.04%	+42.22%

WARP vs. BTCI - Expense Ratio Comparison

WARP has a 0.50% expense ratio, which is lower than BTCI's 0.99% expense ratio.

Dividends

WARP vs. BTCI - Dividend Comparison

WARP has not paid dividends to shareholders, while BTCI's dividend yield for the trailing twelve months is around 42.61%.

Position	TTM	2025	2024
BTCI NEOS Bitcoin High Income ETF	42.61%	36.46%	6.76%
WARP VanEck Space ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WARP and BTCI in my portfolio?

WARP and BTCI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WARP or BTCI?

On fees, WARP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WARP or BTCI?

WARP is cheaper with a 0.50% expense ratio, compared with 0.99% for BTCI.

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

BTCI has the higher dividend yield at 42.61%, compared with 0.00% for WARP.

What is the main difference between WARP and BTCI?

WARP is categorized as Industrials Equities, while BTCI is Cryptocurrency. They also come from different issuers: VanEck and Neos. Their fees differ too: 0.50% for WARP and 0.99% for BTCI.