XBTY vs. DEFI

Last updated Apr 2, 2026

Compare and contrast key facts about GraniteShares YieldBOOST Bitcoin ETF (XBTY) and Hashdex Bitcoin Futures ETF (DEFI).

XBTY and DEFI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XBTY is an actively managed fund by GraniteShares. It was launched on May 12, 2025. DEFI is a passively managed fund by Hashdex that tracks the performance of the HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index. It was launched on Sep 15, 2022.

Performance

XBTY vs. DEFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST Bitcoin ETF (XBTY) and Hashdex Bitcoin Futures ETF (DEFI). The values are adjusted to include any dividend payments, if applicable.

XBTY vs. DEFI - Yearly Performance Comparison

	2026 (YTD)	2025
XBTY GraniteShares YieldBOOST Bitcoin ETF	-18.12%	-21.15%
DEFI Hashdex Bitcoin Futures ETF	-21.46%	-16.67%

Returns By Period

In the year-to-date period, XBTY achieves a -18.12% return, which is significantly higher than DEFI's -21.46% return.

XBTY

• 1D: 0.08%
• 1M: -2.71%
• YTD: -18.12%
• 6M: -39.40%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DEFI

• 1D: 1.00%
• 1M: -1.27%
• YTD: -21.46%
• 6M: -41.55%
• 1Y: -19.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XBTY vs. DEFI - Expense Ratio Comparison

XBTY has a 0.99% expense ratio, which is higher than DEFI's 0.90% expense ratio.

XBTY

GraniteShares YieldBOOST Bitcoin ETF

DEFI

Hashdex Bitcoin Futures ETF

Return for Risk

XBTY vs. DEFI — Risk / Return Rank

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

DEFI

DEFI Risk / Return Rank: 6
DEFI Sharpe Ratio Rank: 5
DEFI Sortino Ratio Rank: 6
DEFI Omega Ratio Rank: 6
DEFI Calmar Ratio Rank: 7
DEFI Martin Ratio Rank: 6

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.

XBTY vs. DEFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST Bitcoin ETF (XBTY) and Hashdex Bitcoin Futures ETF (DEFI). 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.

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

Sharpe Ratios by Period

	XBTY	DEFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.34	-0.00	-1.33

Correlation

The correlation between XBTY and DEFI is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XBTY vs. DEFI - Dividend Comparison

XBTY's dividend yield for the trailing twelve months is around 192.51%, while DEFI has not paid dividends to shareholders.

	TTM	2025
XBTY GraniteShares YieldBOOST Bitcoin ETF	192.51%	102.53%
DEFI Hashdex Bitcoin Futures ETF	0.00%	0.00%

Drawdowns

XBTY vs. DEFI - Drawdown Comparison

The maximum XBTY drawdown since its inception was -45.04%, smaller than the maximum DEFI drawdown of -49.60%. Use the drawdown chart below to compare losses from any high point for XBTY and DEFI.

Drawdown Indicators

	XBTY	DEFI	Difference
Max Drawdown Largest peak-to-trough decline	-45.04%	-49.60%	+4.56%
Max Drawdown (1Y) Largest decline over 1 year	—	-49.60%	—
Current Drawdown Current decline from peak	-44.52%	-45.33%	+0.81%
Average Drawdown Average peak-to-trough decline	-19.38%	-14.50%	-4.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.18%	—

Volatility

Volatility by Period

	XBTY	DEFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.90%	—
Volatility (6M) Calculated over the trailing 6-month period	—	37.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.34%	45.25%	-15.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.34%	49.92%	-20.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.34%	49.92%	-20.58%