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ETF Comparison

BTCI vs XBCI: Which Is the Better Pick in 2026?

A head-to-head comparison of NEOS Bitcoin High Income ETF and NEOS Boosted Bitcoin High Income ETF covering yield, cost, risk, and income potential.

Data updated August 15, 2026

Best for

  • BTCIInvestors who want crypto exposure that pays you along the way, not just price gains.
  • XBCIInvestors who want to maximize current income — roughly 40.20%, generated by selling options premium.

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricBTCIXBCI
Full nameNEOS Bitcoin High Income ETFNEOS Boosted Bitcoin High Income ETF
IssuerNEOSNEOS
Last Close$28.07 as of August 15, 2026$30.63 as of August 15, 2026
Distribution yield27.62%40.20%
Distribution Safety Score™ 4628
Expense ratio0.98%0.98%
AUM$1.10B$113M
Distribution frequencyMonthlyMonthly
Underlying indexBitcoin ETPsBitcoin
ObjectiveSeeks to generate high monthly income with potential appreciation through bitcoin exposure.“The NEOS Boosted Bitcoin High Income ETF (the ‘Fund’) seeks to boost performance by generating high monthly income with the potential for appreciation based on exposure to exchange‑traded products (‘ETPs’) that have direct exposure to Bitcoin.”
Asset classEquityEquity
Inception date10/16/202402/03/2026
Beta1.67642.2537
Last dividend$0.6460$1.0260
Ex-dividend date07/22/202608/05/2026

Bottom lineChoose BTCI if you want crypto exposure that pays you along the way, not just price gains. Choose XBCI if you want to maximize current income — roughly 40.20%, generated by selling options premium. There's no free lunch: XBCI's payout comes from selling options, which caps upside and can erode the share price over time, while BTCI 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 and XBCI generate 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 XBCI 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.
  • Daily leverage reset. XBCI targets a multiple of the index's DAILY move, resetting every session. Over weeks and months the compounding of daily resets (volatility decay) can drag returns far below the stated multiple, especially in choppy markets — and losses are magnified the same way gains are.

Learn the mechanics: Return of capital, explained · NAV erosion, explained · Why daily-reset leverage decays

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Income calculator

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

NEOS
ETFs19
Total AUM$31.6B

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 and XBCI.

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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

BTCI has lagged XBCI over the year to date, posting a -26.95% total return against -21.99%. BTCI has been the steadier holding, though — annualized volatility of 41.4% against 61.1% for XBCI. 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.
SymbolYTDSince Feb 2026Volatility Sharpe Sortino Max drawdown
BTCI-26.95%-16.16%41.4%-0.92-1.22-26.1%
XBCI-21.99%-21.99%61.1%-0.84-1.12-37.3%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Feb 2026” measures every fund from February 3, 2026 — 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 shared window since Feb 2026. 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 shared window since Feb 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

BTCI (NEOS Bitcoin High Income ETF) and XBCI (NEOS Boosted Bitcoin High Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

XBCI offers the higher yield at 40.20% vs 27.62% for BTCI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

They track different benchmarks: BTCI is linked to Bitcoin ETPs while XBCI tracks Bitcoin, which means their performance drivers differ.

BTCI is the larger fund by assets ($1.10B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose BTCI

NEOS Bitcoin High Income ETF

  • Want crypto exposure that pays income rather than waiting on price alone.
  • Prefer lower volatility — a beta of 1.7 vs 2.3 for XBCI.

Choose XBCI

NEOS Boosted Bitcoin High Income ETF

  • Want to maximize current income — XBCI distributes roughly 40.20% from selling options premium, vs 27.62% for BTCI.
  • Want crypto exposure that pays income rather than waiting on price alone.

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, BTCI would generate roughly $230.17/month, while XBCI would produce $335.00/month, at current distribution rates. Both pay monthly distributions.

BTCI yield27.62%
XBCI yield40.20%
Monthly diff on $10K$104.83

Cost & efficiency

Over 10 years on $10,000, BTCI would cost approximately $980 in fees vs $980 for XBCI (simplified, not compounded). Both charge the same expense ratio.

BTCI ER0.98%
XBCI ER0.98%

Strategy & risk

BTCI tracks Bitcoin ETPs with a crypto approach, while XBCI tracks Bitcoin with a crypto approach. Beta is 1.6764 for BTCI and 2.2537 for XBCI, indicating BTCI is less volatile relative to the market.

BTCI beta1.6764
XBCI beta2.2537

Fund details

BTCI is managed by NEOS (launched 10/16/2024) with $1.10B in assets. XBCI is managed by NEOS (launched 02/03/2026) with $113M in assets.

BTCI AUM$1.10B
XBCI AUM$113M
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Frequently asked questions

What is the current distribution yield for BTCI and XBCI?

BTCI currently distributes 27.62% and XBCI 40.20%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is BTCI or XBCI better for dividend income?

It depends on your goals. XBCI 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 BTCI and XBCI?

BTCI (NEOS Bitcoin High Income ETF) tracks Bitcoin ETPs with a crypto approach, while XBCI (NEOS Boosted Bitcoin High Income ETF) tracks Bitcoin with a crypto approach. They are issued by NEOS and NEOS respectively.

Can I hold both BTCI and XBCI?

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 BTCI or XBCI safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — BTCI scores 46, XBCI scores 28, so BTCI's payout currently looks the more resilient of the two. BTCI has also shown lower price volatility (beta 1.68 vs 2.25 for XBCI). 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, BTCI or XBCI?

BTCI and XBCI both charge the same expense ratio of 0.98%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

How much income does $10,000 in BTCI vs XBCI generate?

At current rates, $10,000 in BTCI would generate roughly $230.17 per month ($2,762.00 annually). The same in XBCI would produce about $335.00 per month ($4,020.00 annually).

Which has performed better historically, BTCI or XBCI?

BTCI has lagged XBCI over the year to date, posting a -26.95% total return against -21.99%. BTCI has been the steadier holding, though — annualized volatility of 41.4% against 61.1% for XBCI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

BTCI vs XBCI — at a glance

Generated August 15, 2026.

Overview

Both BTCI and XBCI are actively managed ETFs from NEOS that generate monthly income by pairing direct bitcoin exposure with covered call strategies. The key distinction is leverage: XBCI uses leverage to amplify both returns and volatility, targeting a 40.20% distribution rate versus BTCI's 27.62%, and carries a higher beta (2.25 vs. 1.68) to reflect that structural magnification.

How they differ

XBCI applies leverage to its bitcoin holding and covered call overlay, which explains its higher distribution rate and significantly higher beta. Both charge the same 0.98% expense ratio, but XBCI is much smaller ($113M in AUM versus $1.10B), reflecting its newer inception date and higher complexity. The core strategy—harvesting volatility via covered calls on bitcoin while holding the underlying—is the same, but XBCI's leverage amplifies both the upside potential and the downside drawdown risk. BTCI has been running since October 2024; XBCI launched in February 2026, making it the newer, less-proven variant.

Who each is best for

  • BTCI: Fits investors seeking high monthly income from bitcoin exposure without leverage, with a higher risk tolerance for volatility but preference for a simpler, longer-operating structure and larger asset base.
  • XBCI: Fits investors comfortable with leverage who want to maximize monthly distributions from bitcoin and are willing to accept significantly higher swings in NAV and share price for amplified upside and downside exposure.

Key risks to know

  • NAV erosion at extreme distribution yields: Both funds distribute far above what underlying bitcoin appreciation typically generates. At BTCI's 27.62% and XBCI's 40.20% annualized rates, distributions likely rely heavily on return-of-capital treatment, eroding NAV over time unless bitcoin rallies sharply.
  • Leverage risk (XBCI): The 2.25 beta means XBCI's losses will be roughly 2.25 times as severe as bitcoin's drawdowns. A 20% bitcoin decline translates to a roughly 45% XBCI decline, creating significant drawdown risk and potential margin or forced rebalancing pressures during volatile periods.
  • Covered call ceiling: Both funds cap upside by selling calls. If bitcoin rallies sharply, the call strikes limit share price appreciation, leaving investors with only the monthly distributions as return—a real opportunity cost in bull markets.
  • Limited operating history: BTCI has fewer than 18 months of data; XBCI has only weeks. Performance during different bitcoin regimes (sustained rally, crash, sideways consolidation) remains untested for both.

Bottom line

BTCI offers a simpler, less volatile path to high monthly bitcoin income with a larger fund and longer track record; XBCI promises higher distributions through leverage but at the cost of roughly 2.25x bitcoin's volatility. If you prioritize stability and a more established fund structure, BTCI's design stands out. If you're drawn to maximum income and can tolerate significant NAV swings, XBCI's leverage creates that tradeoff. Past performance does not guarantee 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.

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

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