A head-to-head comparison of ProShares Bitcoin Strategy ETF and YieldMax Bitcoin Option Income Strategy ETF covering yield, cost, risk, and income potential.
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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.
See our curated list of related YouTube videos on YBIT.
Bottom lineChoose BITO if you want straightforward Bitcoin exposure for the long run. Choose YBIT if you want to maximize current income — roughly 47.22%, generated by selling options premium. There's no free lunch: YBIT's payout comes from selling options, which caps upside and can erode the share price over time, while BITO keeps full price exposure.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
BITO has lagged YBIT over the trailing twelve months, posting a -45.07% total return against -40.05%. Measured from Apr 2024 — when the younger fund began trading — BITO has compounded at -6.80% a year versus -14.15% for YBIT. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 10, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Apr 2024” measures every fund from April 23, 2024 — the youngest fund's first trading day — 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.
Quick verdict
BITO (ProShares Bitcoin Strategy ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both dividend ETFs, but they take different approaches.
YBIT offers the higher yield at 47.22% vs 1.44% for BITO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
BITO is cheaper with an expense ratio of 0.95% compared to 0.99%.
They track different benchmarks: BITO is linked to Bitcoin Futures while YBIT tracks Bitcoin, which means their performance drivers differ.
BITO is the larger fund by assets ($1.44B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose BITO
ProShares Bitcoin Strategy ETF
Want straightforward Bitcoin exposure for long-term appreciation, not income.
Want to keep costs low — a 0.95% expense ratio vs 0.99% for YBIT.
Choose YBIT
YieldMax Bitcoin Option Income Strategy ETF
Want to maximize current income — YBIT distributes roughly 47.22% from selling options premium, vs 1.44% for BITO.
Want crypto exposure that pays income rather than waiting on price alone.
Prefer lower volatility — a beta of 1.5 vs 1.9 for BITO.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, BITO would generate roughly $12.00/month, while YBIT would produce $393.50/month, at current distribution rates.
BITO yield1.44%
YBIT yield47.22%
Monthly diff on $10K$381.50
Cost & efficiency
Over 10 years on $10,000, BITO would cost approximately $950 in fees vs $990 for YBIT (simplified, not compounded). The $40.00 difference may be offset by yield or performance.
BITO ER0.95%
YBIT ER0.99%
Strategy & risk
BITO tracks Bitcoin Futures with a futures-based approach, while YBIT tracks Bitcoin with a covered call approach. Beta is 1.8778 for BITO and 1.5424 for YBIT, indicating YBIT is less volatile relative to the market.
BITO beta1.8778
YBIT beta1.5424
Fund details
BITO is managed by ProShares (launched 10/18/2021) with $1.44B in assets. YBIT is managed by YieldMax (launched 07/18/2023) with $46.7M in assets.
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Frequently asked questions
Is BITO or YBIT better for dividend income?
It depends on your goals. YBIT 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 YBIT?
BITO (ProShares Bitcoin Strategy ETF) tracks Bitcoin Futures with a futures-based approach, while YBIT (YieldMax Bitcoin Option Income Strategy ETF) tracks Bitcoin with a covered call approach. They are issued by ProShares and YieldMax respectively.
Can I hold both BITO and YBIT?
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.
Which has lower fees, BITO or YBIT?
BITO has an expense ratio of 0.95% while YBIT charges 0.99%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in BITO vs YBIT generate?
At current rates, $10,000 in BITO would generate roughly $12.00 per month ($144.00 annually). The same in YBIT would produce about $393.50 per month ($4,722.00 annually).
Which has performed better historically, BITO or YBIT?
BITO has lagged YBIT over the trailing twelve months, posting a -45.07% total return against -40.05%. Measured from Apr 2024 — when the younger fund began trading — BITO has compounded at -6.80% a year versus -14.15% for YBIT. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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