YBTC vs. BTCI

Last updated Jun 24, 2026

YBTC (Roundhill Bitcoin Covered Call Strategy ETF) and BTCI (NEOS Bitcoin High Income ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, YBTC returned -36.92% vs -35.09% for BTCI. Their correlation of 0.93 suggests significant overlap in exposure. YBTC charges 0.95%/yr vs 0.99%/yr for BTCI.

Performance

YBTC vs. BTCI - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with YBTC having a -26.15% return and BTCI slightly lower at -26.19%.

YBTC

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

BTCI

• 1D: -3.23%
• 1M: -17.15%
• YTD: -26.19%
• 6M: -26.22%
• 1Y: -35.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YBTC vs. BTCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-26.15%	-4.23%	21.55%
BTCI NEOS Bitcoin High Income ETF	-26.19%	-1.09%	26.12%

Correlation

The correlation between YBTC and BTCI is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.93

The correlation between YBTC and BTCI has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

Return for Risk

YBTC vs. BTCI — 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

BTCI

BTCI Risk / Return Rank: 2
BTCI Sharpe Ratio Rank: 2
BTCI Sortino Ratio Rank: 2
BTCI Omega Ratio Rank: 2
BTCI Calmar Ratio Rank: 3
BTCI 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. BTCI - Risk-Adjusted Trends Comparison

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

	YBTC	BTCI	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	-0.89	-0.04
Sortino ratio: Return per unit of downside risk	-1.25	-1.19	-0.06
Omega ratio: Gain probability vs. loss probability	0.84	0.86	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.76	-0.75	-0.01
Martin ratio: Return relative to average drawdown	-1.33	-1.30	-0.03

YBTC vs. BTCI - Sharpe Ratio Comparison

The current YBTC Sharpe Ratio is -0.93, which is comparable to the BTCI Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of YBTC and BTCI, 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. BTCI - Drawdown Comparison

The maximum YBTC drawdown since its inception was -48.82%, roughly equal to the maximum BTCI drawdown of -47.16%. Use the drawdown chart below to compare losses from any high point for YBTC and BTCI.

Drawdown Indicators

	YBTC	BTCI	Difference
Max Drawdown Largest peak-to-trough decline	-48.82%	-47.16%	-1.66%
Max Drawdown (1Y) Largest decline over 1 year	-48.82%	-47.16%	-1.66%
Current Drawdown Current decline from peak	-46.07%	-45.42%	-0.65%
Average Drawdown Average peak-to-trough decline	-13.58%	-16.05%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.69%	27.00%	+0.69%

Volatility

YBTC vs. BTCI - Volatility Comparison

Roundhill Bitcoin Covered Call Strategy ETF (YBTC) and NEOS Bitcoin High Income ETF (BTCI) have volatilities of 12.43% and 12.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YBTC	BTCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.43%	12.63%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	32.04%	31.38%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	39.80%	39.73%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.90%	40.33%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.90%	40.33%	+0.57%

YBTC vs. BTCI - Expense Ratio Comparison

YBTC has a 0.95% expense ratio, which is lower than BTCI's 0.99% expense ratio.

Dividends

YBTC vs. BTCI - Dividend Comparison

YBTC's dividend yield for the trailing twelve months is around 89.41%, more than BTCI's 48.44% yield.

Position	TTM	2025	2024
BTCI NEOS Bitcoin High Income ETF	48.44%	36.46%	6.76%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	89.41%	76.04%	44.53%

Frequently Asked Questions

Can I hold both YBTC and BTCI in my portfolio?

With a correlation of 0.93, YBTC and BTCI 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 BTCI?

BTCI has higher volatility (12.63%) compared to YBTC (12.43%). In terms of maximum drawdown, YBTC dropped -48.82% vs BTCI's -47.16%.

Which ETF is better, YBTC or BTCI?

On 1-year performance, BTCI leads with -35.09% vs -36.92% for YBTC. On fees, YBTC is cheaper at 0.95% 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 BTCI?

Over the 1-year period, BTCI has performed better with a -35.09% return vs -36.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YBTC or BTCI?

YBTC is cheaper with a 0.95% expense ratio, compared with 0.99% for BTCI.

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

YBTC has the higher dividend yield at 89.41%, compared with 48.44% for BTCI.

What is the main difference between YBTC and BTCI?

They also come from different issuers: Roundhill and Neos. Their fees differ too: 0.95% for YBTC and 0.99% for BTCI.

Which has better risk-adjusted returns?

BTCI currently has the higher Sharpe Ratio (-0.89 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.