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ETF Comparison

BITO vs BITY: Which Is the Better Pick in 2026?

A head-to-head comparison of ProShares Bitcoin Strategy ETF and Amplify Bitcoin 24% Premium Income ETF covering yield, cost, risk, and income potential.

Data updated September 21, 2026

Best for

  • BITOInvestors who want straightforward Bitcoin exposure for the long run.
  • BITYInvestors who want to maximize current income — roughly 23.33%, generated by selling options premium.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.

BITO has outpaced BITY over the trailing twelve months, posting a -25.58% total return against -33.59%. Measured from Apr 2025 — the start of shared available history — BITO has compounded at -10.49% a year versus -14.28% for BITY. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1YSince Apr 2025Volatility Sharpe Sortino Max drawdown
BITO-5.89%-25.58%-10.49%46.1%-0.74-1.03-54.5%
BITY-14.21%-33.59%-14.28%42.4%-1.08-1.44-50.8%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 21, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Apr 2025” measures every fund from April 29, 2025 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricBITOBITY
Full nameProShares Bitcoin Strategy ETFAmplify Bitcoin 24% Premium Income ETF
IssuerProSharesAmplify ETFs
Underlying indexBitcoin FuturesBitcoin
Last Close$11.62 as of September 21, 2026$29.16 as of September 21, 2026
Distribution rate1.14%23.33%
Distribution Safety Score™ 4041
Safety-Adjusted Yield 0.46%9.57%
Expense ratio0.95%0.65%
AUM$1.60B$13.7M
Distribution frequencyMonthlyMonthly
ObjectiveSeeks total return through managed exposure to bitcoin futures contracts rather than direct bitcoin holdings, maintaining that futures position through rising, flat and declining markets.Seeks to provide monthly income with Bitcoin exposure through a premium income strategy targeting approximately 24% annual distribution while maintaining potential for capital appreciation.
Asset classEquityEquity
Inception date10/18/202104/29/2025
Beta1.87781.7893
Last dividend$0.011$0.567
Ex-dividend date09/01/202608/28/2026

Bottom lineChoose BITO if you want straightforward Bitcoin exposure for the long run. Choose BITY if you want to maximize current income — roughly 23.33%, generated by selling options premium. BITO and BITY both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Crypto volatility. BITO and BITY sit on top of crypto-asset prices, which routinely swing far more than equities. A single drawdown can exceed a year of distributions, so income projections deserve extra skepticism here.
  • Capped upside and premium dependence. BITY generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

ProShares
ETFs170
Total AUM$124B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

ProShares is known for offering leveraged and inverse ETFs that provide amplified exposure to market movements, along with thematic and income-focused strategies. Their fund lineup spans digital assets (including Bitcoin and Ethereum exposure through BITO and EETH), dividend strategies like the Dividend Aristocrats fund (NOBL), covered call income strategies, and leveraged/inverse products that track major indices with 2x or 3x daily multipliers (such as SSO and TQQQ for tech-heavy portfolios). With 23 ETFs across specialized families including leveraged products, money market funds, and sector-specific offerings, ProShares serves investors seeking both traditional income and alternative exposure strategies.

See our curated list of related YouTube videos on BITO.

See all ProShares ETFs
Amplify ETFs
ETFs46
Total AUM$16.7B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Amplify ETFs is known for offering specialized, thematic investment solutions across diverse market segments including digital assets, commodities, and dividend strategies. The issuer's lineup spans multiple fund families covering income-focused strategies, covered call approaches, commodity exposure, and thematic sectors such as cybersecurity, blockchain, gaming, and sustainable investing. Notable for tickers like BLOK (blockchain), HACK (cybersecurity), and DIVO (dividend), Amplify combines traditional income strategies with alternative themes and emerging asset classes, appealing to investors seeking both yield and exposure to innovation-driven sectors.

See our curated list of related YouTube videos on BITY.

See all Amplify ETFs ETFs

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Quick verdict

BITO (ProShares Bitcoin Strategy ETF) and BITY (Amplify Bitcoin 24% Premium Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

BITY offers the higher yield at 23.33% vs 1.14% for BITO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

BITY is cheaper with an expense ratio of 0.65% compared to 0.95%.

They have different reference exposures: BITO is linked to Bitcoin Futures while BITY is linked to Bitcoin, which means their performance drivers differ.

BITO is the larger fund by assets ($1.60B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, BITO would generate roughly $9.50/month, while BITY would produce $194.42/month, at current distribution rates. Both pay monthly distributions.

BITO yield1.14%
BITY yield23.33%
Monthly diff on $10K$184.92

Cost & efficiency

Over 10 years on $10,000, BITO would cost approximately $950 in fees vs $650 for BITY (simplified, not compounded). The $300.00 difference may be offset by yield or performance.

BITO ER0.95%
BITY ER0.65%

Strategy & risk

BITO tracks Bitcoin Futures with a crypto approach, while BITY tracks Bitcoin with a covered call approach. Beta is 1.8778 for BITO and 1.7893 for BITY, making BITY the less volatile of the two by this measure.

BITO beta1.8778
BITY beta1.7893

Fund details

BITO is managed by ProShares (launched 10/18/2021) with $1.60B in assets. BITY is managed by Amplify ETFs (launched 04/29/2025) with $13.7M in assets.

BITO AUM$1.60B
BITY AUM$13.7M
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Frequently asked questions

What is the current distribution rate for BITO and BITY?

BITO currently distributes 1.14% and BITY 23.33%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is BITO or BITY better for dividend income?

It depends on your goals. BITY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between BITO and BITY?

BITO (ProShares Bitcoin Strategy ETF) tracks Bitcoin Futures with a crypto approach, while BITY (Amplify Bitcoin 24% Premium Income ETF) tracks Bitcoin with a covered call approach. They are issued by ProShares and Amplify ETFs respectively.

Can I hold both BITO and BITY?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is BITO or BITY safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: BITY scores 41, BITO scores 40. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, BITO or BITY?

BITO has an expense ratio of 0.95% while BITY charges 0.65%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in BITO vs BITY generate?

At current rates, $10,000 in BITO would generate roughly $9.50 per month ($114.00 annually). The same in BITY would produce about $194.42 per month ($2,333.00 annually).

Which has performed better historically, BITO or BITY?

BITO has outpaced BITY over the trailing twelve months, posting a -25.58% total return against -33.59%. Measured from Apr 2025 — the start of shared available history — BITO has compounded at -10.49% a year versus -14.28% for BITY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

BITO vs BITY — at a glance

Generated September 19, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

How they differ

The core difference is structural. BITY holds Bitcoin directly and sells call options against it, targeting 23.33% in distributions through premium capture—a strategy that caps upside and erodes NAV if bitcoin rallies hard.

BITO has been operating since 10/18/2021 and has matured into a larger, more stable vehicle ($1.60B). BITY launched 04/29/2025, so it is still establishing track record and holds just $13.7M in assets. BITO's 1.8778 beta and BITY's 1.7893 beta are both elevated and similar, reflecting strong cryptocurrency price sensitivity in both cases.

The distribution yields reflect the income strategy: BITO's 1.14% is incidental to market returns and futures positioning, while BITY's 23.33% is a mechanical output of systematic call selling. BITY's lower 0.65% expense ratio partly offsets the complexity of options management.

  • BITY: Designed for investors comfortable with a call-writing framework who value near-term income over long-term capital appreciation—those who recognize that the 23.33% payout comes partly from capped upside and are early adopters of a newly launched fund.

Key risks to know

  • NAV erosion at extreme distribution yields. BITY's 23.33% annual distribution—payable monthly—is likely unsustainable if bitcoin price appreciation does not exceed the distribution rate.
  • Call-option cap on upside. BITY's covered-call strategy systematically sells the right to participate fully in bitcoin rallies.
  • Minimal fund history for BITY. With an inception date of 04/29/2025 and only $13.7M in assets under management, BITY has no track record through a full market cycle, a correction, or volatility spike. The 23.33% payout structure has not been stress-tested in a sustained crypto downturn. This drag is not transparent in the monthly distribution and directly erodes returns over time.
  • Bitcoin price volatility and leverage. Both funds exhibit cryptocurrency-level volatility. BITY's options overlay does not dampen that—it simply redirects it toward call sellers. Bitcoin drawdowns of 30–50% are not unusual and will compress NAV sharply in both funds. Neither fund isolates you from bitcoin's volatility—both carry 1.8778 and 1.7893 beta respectively. Past performance doesn't predict future results, and neither fund's income structure is immune to protracted weakness in bitcoin price.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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