YBTC vs. BAGY

Last updated Jun 24, 2026

YBTC (Roundhill Bitcoin Covered Call Strategy ETF) and BAGY (Amplify Bitcoin Max Income Covered Call ETF) are both exchange-traded funds - YBTC is a Cryptocurrency fund actively managed by Roundhill, while BAGY is a Derivative Income fund actively managed by Amplify. Both are actively managed. Over the past year, YBTC returned -36.92% vs -38.64% for BAGY. Their correlation of 0.95 suggests significant overlap in exposure. YBTC charges 0.95%/yr vs 0.65%/yr for BAGY.

Performance

YBTC vs. BAGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Bitcoin Covered Call Strategy ETF (YBTC) and Amplify Bitcoin Max Income Covered Call ETF (BAGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with YBTC having a -26.15% return and BAGY slightly higher at -25.28%.

YBTC

• 1D: -2.45%
• 1M: -16.58%
• YTD: -26.15%
• 6M: -25.92%
• 1Y: -36.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAGY

• 1D: -3.61%
• 1M: -18.40%
• YTD: -25.28%
• 6M: -25.26%
• 1Y: -38.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YBTC vs. BAGY - Yearly Performance Comparison

	2026 (YTD)	2025
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-26.15%	-4.94%
BAGY Amplify Bitcoin Max Income Covered Call ETF	-25.28%	-8.33%

Correlation

The correlation between YBTC and BAGY is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.95

The correlation between YBTC and BAGY has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

YBTC vs. BAGY — Risk / Return Rank

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

YBTC

YBTC Risk / Return Rank: 2
YBTC Sharpe Ratio Rank: 2
YBTC Sortino Ratio Rank: 2
YBTC Omega Ratio Rank: 2
YBTC Calmar Ratio Rank: 3
YBTC Martin Ratio Rank: 2

BAGY

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

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.

YBTC vs. BAGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Bitcoin Covered Call Strategy ETF (YBTC) and Amplify Bitcoin Max Income Covered Call ETF (BAGY). 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.

	YBTC	BAGY	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	-0.90	-0.03
Sortino ratio: Return per unit of downside risk	-1.25	-1.23	-0.02
Omega ratio: Gain probability vs. loss probability	0.84	0.86	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.76	-0.78	+0.02
Martin ratio: Return relative to average drawdown	-1.33	-1.37	+0.03

YBTC vs. BAGY - Sharpe Ratio Comparison

The current YBTC Sharpe Ratio is -0.93, which is comparable to the BAGY Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of YBTC and BAGY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

YBTC vs. BAGY - Drawdown Comparison

The maximum YBTC drawdown since its inception was -48.82%, roughly equal to the maximum BAGY drawdown of -49.84%. Use the drawdown chart below to compare losses from any high point for YBTC and BAGY.

Drawdown Indicators

	YBTC	BAGY	Difference
Max Drawdown Largest peak-to-trough decline	-48.82%	-49.84%	+1.02%
Max Drawdown (1Y) Largest decline over 1 year	-48.82%	-49.84%	+1.02%
Current Drawdown Current decline from peak	-46.07%	-47.43%	+1.36%
Average Drawdown Average peak-to-trough decline	-13.58%	-20.76%	+7.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.69%	28.33%	-0.64%

Volatility

YBTC vs. BAGY - Volatility Comparison

The current volatility for Roundhill Bitcoin Covered Call Strategy ETF (YBTC) is 12.43%, while Amplify Bitcoin Max Income Covered Call ETF (BAGY) has a volatility of 14.04%. This indicates that YBTC experiences smaller price fluctuations and is considered to be less risky than BAGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YBTC	BAGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.43%	14.04%	-1.61%
Volatility (6M) Calculated over the trailing 6-month period	32.04%	33.99%	-1.95%
Volatility (1Y) Calculated over the trailing 1-year period	39.80%	42.91%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.90%	41.30%	-0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.90%	41.30%	-0.40%

YBTC vs. BAGY - Expense Ratio Comparison

YBTC has a 0.95% expense ratio, which is higher than BAGY's 0.65% expense ratio.

Dividends

YBTC vs. BAGY - Dividend Comparison

YBTC's dividend yield for the trailing twelve months is around 89.41%, more than BAGY's 60.88% yield.

Position	TTM	2025	2024
BAGY Amplify Bitcoin Max Income Covered Call ETF	60.88%	30.16%	0.00%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	89.41%	76.04%	44.53%

Frequently Asked Questions

Can I hold both YBTC and BAGY in my portfolio?

With a correlation of 0.94, YBTC and BAGY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, YBTC or BAGY?

BAGY has higher volatility (14.04%) compared to YBTC (12.43%). In terms of maximum drawdown, YBTC dropped -48.82% vs BAGY's -49.84%.

Which ETF is better, YBTC or BAGY?

On 1-year performance, YBTC leads with -36.92% vs -38.64% for BAGY. On fees, BAGY is cheaper at 0.65% per year. On volatility, YBTC has been the lower-risk option at 12.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YBTC or BAGY?

Over the 1-year period, YBTC has performed better with a -36.92% return vs -38.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YBTC or BAGY?

BAGY is cheaper with a 0.65% expense ratio, compared with 0.95% for YBTC.

Which ETF pays a higher dividend yield, YBTC or BAGY?

YBTC has the higher dividend yield at 89.41%, compared with 60.88% for BAGY.

What is the main difference between YBTC and BAGY?

YBTC is categorized as Cryptocurrency, while BAGY is Derivative Income. They also come from different issuers: Roundhill and Amplify. Their fees differ too: 0.95% for YBTC and 0.65% for BAGY.

Which has better risk-adjusted returns?

BAGY currently has the higher Sharpe Ratio (-0.90 vs -0.93), 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.