A head-to-head comparison of NEOS Bitcoin High Income ETF and YieldMax Bitcoin Option Income Strategy ETF covering yield, cost, risk, and income potential.
Data updated September 18, 2026
Best for
BTCIInvestors who want index call spreads structured for Section 1256 tax treatment.
YBITInvestors who want a covered-call overwrite written on the holdings themselves.
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.
BTCI has lagged YBIT over the trailing twelve months, posting a -28.25% total return against -28.23%. Measured from Oct 2024 — the start of shared available history — BTCI has compounded at 7.83% a year versus 1.42% for YBIT. 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 September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “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.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Seeks to generate high monthly income with potential appreciation through bitcoin exposure.
Actively managed fund that seeks weekly income while providing indirect exposure to the share price of U.S.-listed bitcoin exchange-traded products, subject to a limit on potential gains.
Bottom lineChoose BTCI if you want index call spreads structured for Section 1256 tax treatment. Choose YBIT if you want a covered-call overwrite written on the holdings themselves. BTCI and YBIT 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.
Capped upside and premium dependence. BTCI and YBIT 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 YBIT 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.
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.
BTCI (NEOS Bitcoin High Income ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both dividend ETFs, but they take different approaches.
YBIT offers the higher yield at 67.86% vs 26.27% for BTCI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
BTCI is cheaper with an expense ratio of 0.98% compared to 1.02%.
They have different reference exposures: BTCI is linked to Bitcoin ETPs while YBIT is linked to Bitcoin, which means their performance drivers differ.
BTCI is the larger fund by assets ($1.33B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose BTCI
NEOS Bitcoin High Income ETF
Want index call spreads structured for Section 1256 tax treatment.
Want crypto exposure that pays income rather than waiting on price alone.
Want to keep costs low — a 0.98% expense ratio vs 1.02% for YBIT.
Choose YBIT
YieldMax Bitcoin Option Income Strategy ETF
Want a covered-call overwrite on the stocks the fund holds.
Want to maximize current income — YBIT distributes roughly 67.86% from selling options premium, vs 26.27% 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.
Still deciding? Track BTCI & YBIT for free
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On a $10,000 investment, BTCI would generate roughly $218.92/month, while YBIT would produce $565.50/month, at current distribution rates.
BTCI yield26.27%
YBIT yield67.86%
Monthly diff on $10K$346.58
Cost & efficiency
Over 10 years on $10,000, BTCI would cost approximately $980 in fees vs $1,020 for YBIT (simplified, not compounded). The $40.00 difference may be offset by yield or performance.
BTCI ER0.98%
YBIT ER1.02%
Strategy & risk
BTCI tracks Bitcoin ETPs with a crypto approach, while YBIT is actively managed around Bitcoin exposure with a covered call approach. Beta is 1.48 for BTCI and 1.5424 for YBIT, making BTCI the less volatile of the two by this measure.
BTCI beta1.48
YBIT beta1.5424
Fund details
BTCI is managed by NEOS (launched 10/16/2024) with $1.33B in assets. YBIT is managed by YieldMax (launched 04/22/2024) with $46.1M in assets.
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Frequently asked questions
What is the current distribution rate for BTCI and YBIT?
BTCI currently distributes 26.27% and YBIT 67.86%, 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 BTCI 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 BTCI and YBIT?
BTCI (NEOS Bitcoin High Income ETF) tracks Bitcoin ETPs with a crypto approach, while YBIT (YieldMax Bitcoin Option Income Strategy ETF) is actively managed around Bitcoin exposure with a covered call approach. They are issued by NEOS and YieldMax respectively.
Can I hold both BTCI 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.
Is BTCI or YBIT safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — YBIT scores 67, BTCI scores 51, so YBIT's payout currently looks the more resilient of the two. 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 YBIT?
BTCI has an expense ratio of 0.98% while YBIT charges 1.02%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in BTCI vs YBIT generate?
At current rates, $10,000 in BTCI would generate roughly $218.92 per month ($2,627.00 annually). The same in YBIT would produce about $565.50 per month ($6,786.00 annually).
Which has performed better historically, BTCI or YBIT?
BTCI has lagged YBIT over the trailing twelve months, posting a -28.25% total return against -28.23%. Measured from Oct 2024 — the start of shared available history — BTCI has compounded at 7.83% a year versus 1.42% for YBIT. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
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Both launched in late 2024 and carry option-writing risk, but YBIT's weekly cadence and outsized distribution rate signal a more aggressive income extraction approach. Second, AUM and asset base diverge sharply—BTCI manages $1.33B versus YBIT's $46.1M, a 29-fold difference that affects fund stability and potential for NAV erosion under stress. Third, BTCI's 0.98% expense ratio is marginally lower than YBIT's 1.02%, but the real drag on returns comes from distribution-level capital depletion, not fee differences.
YBIT: Fits investors prioritizing high-frequency cash flow (weekly) and willing to trade away most price appreciation above a strike level in exchange for outsized distributions, suited to those focused on yield extraction over capital growth.
Covered call cap on upside: Both funds sacrifice gains above their strike prices. This structural trade—income for capped gains—can underperform bitcoin itself in bull markets. If implied volatility collapses or market dislocation occurs, roll costs spike and income potential falls; additionally, counterparty credit risk on derivatives is non-zero, though issuers are typically large banks.
Bitcoin's price volatility and correlation to equities: Both ETFs carry 1.48 and 1.5424 beta, respectively—volatile by equity standards—and bitcoin's correlation to risk assets has risen in downturns, creating amplified drawdowns when equity markets stress. If you prioritize maximum current cash flow and accept capped appreciation in exchange, YBIT delivers higher weekly distributions—but at the cost of steeper NAV erosion risk and liquidity constraints. Past performance does not predict future results; both funds' high yields rest on continued volatility and option premium, neither guaranteed.
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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