XBTY vs. ULTI

Last updated Jun 4, 2026

XBTY (GraniteShares YieldBOOST Bitcoin ETF) and ULTI (REX IncomeMax Option Strategy ETF) are both Derivative Income funds. Both are actively managed. A 0.52 correlation means they provide meaningful diversification when combined. XBTY charges 0.99%/yr vs 1.25%/yr for ULTI.

Performance

XBTY vs. ULTI - Performance Comparison

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

Returns By Period

In the year-to-date period, XBTY achieves a -19.49% return, which is significantly lower than ULTI's 43.46% return.

XBTY

• 1D: -0.41%
• 1M: -8.39%
• YTD: -19.49%
• 6M: -20.52%
• 1Y: -36.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ULTI

• 1D: -3.05%
• 1M: 12.53%
• YTD: 43.46%
• 6M: 22.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XBTY vs. ULTI - Yearly Performance Comparison

	2026 (YTD)	2025
XBTY GraniteShares YieldBOOST Bitcoin ETF	-19.49%	-16.98%
ULTI REX IncomeMax Option Strategy ETF	43.46%	-38.31%

Correlation

The correlation between XBTY and ULTI is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 3, 2025	0.52

Return for Risk

XBTY vs. ULTI — Risk / Return Rank

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

XBTY

XBTY Risk / Return Rank: 1
XBTY Sharpe Ratio Rank: 0
XBTY Sortino Ratio Rank: 1
XBTY Omega Ratio Rank: 1
XBTY Calmar Ratio Rank: 2
XBTY 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.

XBTY vs. ULTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST Bitcoin ETF (XBTY) and REX IncomeMax Option Strategy ETF (ULTI). 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.

	XBTY	ULTI	Difference
Sharpe ratio Return per unit of total volatility	-1.29	—	—
Sortino ratio Return per unit of downside risk	-1.87	—	—
Omega ratio Gain probability vs. loss probability	0.78	—	—
Calmar ratio Return relative to maximum drawdown	-0.81	—	—
Martin ratio Return relative to average drawdown	-1.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XBTY	ULTI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.26	-0.31	-0.95

Drawdowns

XBTY vs. ULTI - Drawdown Comparison

The maximum XBTY drawdown since its inception was -45.46%, which is greater than ULTI's maximum drawdown of -41.74%. Use the drawdown chart below to compare losses from any high point for XBTY and ULTI.

Drawdown Indicators

	XBTY	ULTI	Difference
Max Drawdown Largest peak-to-trough decline	-45.46%	-41.74%	-3.72%
Max Drawdown (1Y) Largest decline over 1 year	-45.46%	—	—
Current Drawdown Current decline from peak	-45.46%	-11.50%	-33.96%
Average Drawdown Average peak-to-trough decline	-23.04%	-28.13%	+5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.49%	—	—

Volatility

Volatility by Period

	XBTY	ULTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.34%	62.43%	-34.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.95%	62.43%	-34.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.95%	62.43%	-34.48%

XBTY vs. ULTI - Expense Ratio Comparison

XBTY has a 0.99% expense ratio, which is lower than ULTI's 1.25% expense ratio.

Dividends

XBTY vs. ULTI - Dividend Comparison

XBTY's dividend yield for the trailing twelve months is around 240.87%, more than ULTI's 42.53% yield.

Position	TTM	2025
ULTI REX IncomeMax Option Strategy ETF	42.53%	14.96%
XBTY GraniteShares YieldBOOST Bitcoin ETF	240.87%	102.53%

Frequently Asked Questions

Can I hold both XBTY and ULTI in my portfolio?

XBTY and ULTI have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XBTY or ULTI?

On fees, XBTY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XBTY or ULTI?

XBTY is cheaper with a 0.99% expense ratio, compared with 1.25% for ULTI.

Which ETF pays a higher dividend yield, XBTY or ULTI?

XBTY has the higher dividend yield at 240.87%, compared with 42.53% for ULTI.

What is the main difference between XBTY and ULTI?

They also come from different issuers: GraniteShares and REX Shares. Their fees differ too: 0.99% for XBTY and 1.25% for ULTI.