XBTY vs. HYGW
XBTY (GraniteShares YieldBOOST Bitcoin ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. XBTY is actively managed, while HYGW is passively managed. Over the past year, XBTY returned -44.39% vs 5.90% for HYGW. Their 0.30 correlation means their historical movements had little consistent relationship. XBTY charges 0.99%/yr vs 0.69%/yr for HYGW.
Performance
XBTY vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, XBTY achieves a -22.50% return, which is significantly lower than HYGW's 2.36% return.
XBTY
- 1D
- -0.77%
- 1M
- 1.12%
- 6M
- -16.67%
- YTD
- -22.50%
- 1Y
- -44.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -33.34%
HYGW
- 1D
- 0.14%
- 1M
- 0.03%
- 6M
- 1.81%
- YTD
- 2.36%
- 1Y
- 5.90%
- 3Y*
- 5.30%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $480.97K | $636.40K | $814.79K | |
| $70.68K | $100.72K | $240.24K |
XBTY vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XBTY GraniteShares YieldBOOST Bitcoin ETF | -22.50% | -21.19% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.36% | 5.36% |
Correlation
The correlation between XBTY and HYGW is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (All Time) Calculated using the full available price history since May 13, 2025 | 0.30 |
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Return for Risk
XBTY vs. HYGW — Risk / Return Rank
XBTY
HYGW
XBTY vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST Bitcoin ETF (XBTY) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| XBTY | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.79 | ||
| Sortino ratioReturn per unit of downside risk | -5.70 | ||
| Omega ratioGain probability vs. loss probability | 0.68 | 1.42 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 3.26 | -4.23 |
| Martin ratioReturn relative to average drawdown | -1.35 | 14.57 | -15.92 |
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Drawdowns
XBTY vs. HYGW - Drawdown Comparison
The maximum XBTY drawdown since its inception was -49.03%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for XBTY and HYGW.
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Drawdown Indicators
| XBTY | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.03% | -5.49% | -43.54% |
Max Drawdown (1Y)Largest decline over 1 year | -49.03% | -1.82% | -47.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.42% | — |
Current DrawdownCurrent decline from peak | -47.49% | -0.21% | -47.28% |
Average DrawdownAverage peak-to-trough decline | -26.13% | -0.59% | -25.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.99% | 0.41% | +34.58% |
Volatility
XBTY vs. HYGW - Volatility Comparison
GraniteShares YieldBOOST Bitcoin ETF (XBTY) has a higher volatility of 2.14% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.80%. This indicates that XBTY's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBTY | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.14% | 0.80% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 13.90% | 2.32% | +11.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.92% | 2.92% | +24.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.42% | 4.62% | +21.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.42% | 4.62% | +21.80% |
XBTY vs. HYGW - Expense Ratio Comparison
XBTY has a 0.99% expense ratio, which is higher than HYGW's 0.69% expense ratio.
Dividends
XBTY vs. HYGW - Dividend Comparison
XBTY's dividend yield for the trailing twelve months is around 201.11%, more than HYGW's 10.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.71% | 12.53% | 12.30% | 15.98% | 8.71% |
XBTY GraniteShares YieldBOOST Bitcoin ETF | 192.49% | 102.53% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XBTY and HYGW have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XBTY has higher volatility (2.14%) compared to HYGW (0.80%). In terms of maximum drawdown, XBTY dropped -49.03% vs HYGW's -5.49%.
On 1-year performance, HYGW leads with 5.90% vs -44.39% for XBTY. On fees, HYGW is cheaper at 0.69% per year. On volatility, HYGW has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYGW has performed better with a 5.90% return vs -44.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYGW is cheaper with a 0.69% expense ratio, compared with 0.99% for XBTY.
XBTY has the higher dividend yield at 192.49%, compared with 10.71% for HYGW.
They also come from different issuers: GraniteShares and iShares. Their fees differ too: 0.99% for XBTY and 0.69% for HYGW.
HYGW currently has the higher Sharpe Ratio (2.03 vs -1.76), 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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