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. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
BTCI has outpaced FBTC over the trailing twelve months, posting a -23.67% total return against -24.92%. Measured from Oct 2024 — the start of shared available history — FBTC has compounded at 10.16% a year versus 7.87% for BTCI. 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.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Oct 2024” measures every fund from October 17, 2024 — 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.
Distribution rate and SEC yield
Metric
BTCI
FBTC
Forward distribution rate
26.11%
—
Trailing 12-month yield
30.70%
—
30-day SEC yield
1.24%
—
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Not a distribution payer
FBTC (Fidelity Wise Origin Bitcoin Fund) has no distribution rate on file and its distribution frequency is None. FBTC is not a payer. The blank yield is not a zero yield.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Bottom lineChoose BTCI if you want to maximize current income — roughly 26.11%, generated by selling options premium. Choose FBTC if you want straightforward Bitcoin exposure for the long run. There's no free lunch: BTCI's payout comes from selling options, which caps upside and can erode the share price over time, while FBTC keeps full 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.
Capped upside and premium dependence. BTCI 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.
Crypto volatility. BTCI and FBTC 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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.
See our curated list of related YouTube videos on BTCI.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Fidelity Investments is one of the largest asset managers globally and maintains a substantial presence in the ETF market with a diverse lineup spanning multiple investment strategies. Their offerings cover a wide spectrum of approaches including traditional dividend and income strategies, factor-based and thematic investing, international equity exposure, bond allocations, and index-tracking funds. The issuer is known for both broad market accessibility and specialized strategies, serving investors across various risk profiles and investment objectives.
See our curated list of related YouTube videos on FBTC.
BTCI (NEOS Bitcoin High Income ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both ETFs, but they take different approaches.
BTCI currently shows a 26.11% distribution yield. FBTC has not yet established a full distribution history, so a comparable yield figure is not available.
FBTC is cheaper with an expense ratio of 0.25% compared to 0.98%.
They have different reference exposures: BTCI is linked to Bitcoin ETPs while FBTC is linked to Bitcoin, which means their performance drivers differ.
FBTC is the larger fund by assets ($14.7B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose BTCI
NEOS Bitcoin High Income ETF
Want to maximize current income — BTCI distributes roughly 26.11% from selling options premium, while FBTC makes no distribution.
Want crypto exposure that pays income rather than waiting on price alone.
Prefer lower volatility — a beta of 1.5 vs 1.9 for FBTC.
Choose FBTC
Fidelity Wise Origin Bitcoin Fund
Want straightforward Bitcoin exposure for long-term appreciation, not income.
Want to keep costs low — a 0.25% expense ratio vs 0.98% for BTCI.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track BTCI & FBTC for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, BTCI would generate roughly $217.58 cash per distribution, while FBTC has no reported distribution yield yet, so a cash estimate is not available, at current distribution rates.
BTCI yield26.11%
FBTC yield—
Cost & efficiency
Over 10 years on $10,000, BTCI would cost approximately $980 in fees vs $250 for FBTC (simplified, not compounded). The $730.00 difference may be offset by yield or performance.
BTCI ER0.98%
FBTC ER0.25%
Strategy & risk
BTCI tracks Bitcoin ETPs with a crypto approach, while FBTC tracks Bitcoin with a crypto approach. Beta is 1.48 for BTCI and 1.8779 for FBTC, making BTCI the less volatile of the two by this measure.
BTCI beta1.48
FBTC beta1.8779
Fund details
BTCI is managed by NEOS (launched 10/16/2024) with $1.42B in assets. FBTC is managed by Fidelity Investments (launched 01/10/2024) with $14.7B in assets.
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Frequently asked questions
Which of BTCI or FBTC pays more dividend income?
BTCI currently reports a distribution yield, while FBTC has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.
What is the difference between BTCI and FBTC?
BTCI (NEOS Bitcoin High Income ETF) tracks Bitcoin ETPs with a crypto approach, while FBTC (Fidelity Wise Origin Bitcoin Fund) tracks Bitcoin with a crypto approach. They are issued by NEOS and Fidelity Investments respectively.
Can I hold both BTCI and FBTC?
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, BTCI or FBTC?
BTCI has an expense ratio of 0.98% while FBTC charges 0.25%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in BTCI vs FBTC generate?
At current rates, $10,000 in BTCI would generate roughly $217.58 cash per distribution ($2,611.00 annually). FBTC does not pay distributions, so there is no cash income to estimate.
Which has performed better historically, BTCI or FBTC?
BTCI has outpaced FBTC over the trailing twelve months, posting a -23.67% total return against -24.92%. Measured from Oct 2024 — the start of shared available history — FBTC has compounded at 10.16% a year versus 7.87% for BTCI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
FBTC is a spot bitcoin fund—you own direct bitcoin exposure with minimal fees and no distributions. FBTC's $14.7B in assets exceeds BTCI's $1.42B, suggesting more established institutional adoption, though BTCI launched more recently (10/16/2024 versus 01/10/2024). BTCI's beta of 1.48 sits below FBTC's 1.8779, likely reflecting the dampening effect of covered-call income on price movement, though both move more than the broader market.
Key risks to know
NAV erosion at unsustainable distribution yields. A 26.11% annual distribution rate on a volatile, non-yielding underlying (bitcoin generates no cash flow) raises questions about sustainability. Distributions may rely on option premium and potential return-of-capital treatment. Over time, this may pressure NAV if bitcoin price appreciation does not exceed the distributions paid. In a sustained bull market, the fund's price may trail FBTC meaningfully as call obligations force the covered shares to be called away at strike prices below market.
Options and volatility concentration risk.BTCI's income depends on sustained volatility and call premium levels. A drop in bitcoin volatility or a structural shift in options pricing could compress distributions without warning, leaving income-focused holders exposed to sudden payout cuts.
Cryptocurrency regulatory and custody risk. Both funds carry bitcoin's underlying regulatory uncertainty and custody dependencies, though FBTC's spot structure and larger scale may offer more mature infrastructure.
Bottom line
If you want bitcoin exposure without strings attached and lowest possible fees, FBTC's spot structure and 0.25% ratio stand out. If you're drawn to 26.11% in monthly income and can accept capped upside as the structural cost, BTCI's options overlay offers that cashflow. The question is whether the income distribution and NAV sustainability align with your time horizon and risk appetite. Past performance does not predict future results.
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.
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