A head-to-head comparison of YieldMax COIN Option Income Strategy ETF and YieldMax Bitcoin Option Income Strategy ETF covering yield, cost, risk, and income potential.
Data updated September 18, 2026
Best for
CONYInvestors who want to maximize current income — roughly 74.61%, generated by selling options premium.
YBITInvestors who want crypto exposure that pays you along the way, not just price gains.
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.
CONY has lagged YBIT over the trailing twelve months, posting a -35.55% total return against -28.23%. Measured from Apr 2024 — the start of shared available history — YBIT has compounded at -5.14% a year versus -18.79% for CONY. YBIT has been the steadier holding, though — annualized volatility of 38.0% against 61.4% for CONY. 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 Apr 2024” measures every fund from April 23, 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.
YieldMax COIN Option Income Strategy ETF seeks current income while providing indirect exposure to the share price returns of Coinbase Global, Inc. common stock, subject to a limit on potential investment gains. The fund does not invest directly in Coinbase Global, Inc.; it uses a synthetic covered call strategy built from standardized exchange-traded options.
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 CONY if you want to maximize current income — roughly 74.61%, generated by selling options premium. Choose YBIT if you want crypto exposure that pays you along the way, not just price gains. CONY 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. CONY 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. YBIT sits 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.
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 CONY and YBIT.
CONY (YieldMax COIN Option Income Strategy ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both weekly-pay dividend ETFs, but they take different approaches.
CONY offers the higher yield at 74.61% vs 67.86% for YBIT. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
YBIT is cheaper with an expense ratio of 1.02% compared to 1.04%.
They have different reference exposures: CONY is linked to Coinbase (COIN) while YBIT is linked to Bitcoin, which means their performance drivers differ.
CONY is the larger fund by assets ($340M), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose CONY
YieldMax COIN Option Income Strategy ETF
Want to maximize current income — CONY distributes roughly 74.61% from selling options premium, vs 67.86% for YBIT.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Choose YBIT
YieldMax Bitcoin Option Income Strategy ETF
Want crypto exposure that pays income rather than waiting on price alone.
Want to keep costs low — a 1.02% expense ratio vs 1.04% for CONY.
Prefer lower volatility — a beta of 1.5 vs 2.8 for CONY.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track CONY & YBIT for free
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On a $10,000 investment, CONY would generate roughly $621.75/month, while YBIT would produce $565.50/month, at current distribution rates. Both pay weekly distributions.
CONY yield74.61%
YBIT yield67.86%
Monthly diff on $10K$56.25
Cost & efficiency
Over 10 years on $10,000, CONY would cost approximately $1,040 in fees vs $1,020 for YBIT (simplified, not compounded). The $20.00 difference may be offset by yield or performance.
CONY ER1.04%
YBIT ER1.02%
Strategy & risk
CONY uses Coinbase (COIN) as its reference exposure with a covered call approach, while YBIT is actively managed around Bitcoin exposure with a covered call approach. Beta is 2.83 for CONY and 1.5424 for YBIT, making YBIT the less volatile of the two by this measure.
CONY beta2.83
YBIT beta1.5424
Fund details
CONY is managed by YieldMax (launched 08/14/2023) with $340M 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 CONY and YBIT?
CONY currently distributes 74.61% 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 CONY or YBIT better for dividend income?
It depends on your goals. CONY 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 CONY and YBIT?
CONY (YieldMax COIN Option Income Strategy ETF) uses Coinbase (COIN) as its reference exposure with a covered call approach, while YBIT (YieldMax Bitcoin Option Income Strategy ETF) is actively managed around Bitcoin exposure with a covered call approach. They are issued by YieldMax and YieldMax respectively.
Can I hold both CONY 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 CONY 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, CONY scores 58, so YBIT's payout currently looks the more resilient of the two. YBIT has also shown lower price volatility (beta 1.54 vs 2.83 for CONY). 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, CONY or YBIT?
CONY has an expense ratio of 1.04% 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 CONY vs YBIT generate?
At current rates, $10,000 in CONY would generate roughly $621.75 per month ($7,461.00 annually). The same in YBIT would produce about $565.50 per month ($6,786.00 annually).
Which has performed better historically, CONY or YBIT?
CONY has lagged YBIT over the trailing twelve months, posting a -35.55% total return against -28.23%. Measured from Apr 2024 — the start of shared available history — YBIT has compounded at -5.14% a year versus -18.79% for CONY. YBIT has been the steadier holding, though — annualized volatility of 38.0% against 61.4% for CONY. 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.
CONY and YBIT are both actively managed ETFs that use synthetic covered call strategies to generate weekly income from crypto exposure. Both cap upside to fund the income distributions they pursue. This matters because COIN stock price and bitcoin price don't move in lockstep—COIN trades on equity factors including its business performance, while YBIT tracks bitcoin's price action more directly.
CONY runs a much larger fund at $340M in AUM versus YBIT's $46.1M. The distribution rates are close (CONY at 74.61% and YBIT at 67.86%), both funded by weekly option premiums, though neither captures the full volatility upside: CONY's 2.83 beta and YBIT's 1.5424 beta both signal downside capture of price moves while capping gains. CONY has been live longer, having 3 years since inception, while YBIT launched more recently on 04/22/2024.
Who each is best for
CONY: Fits investors comfortable with concentrated exposure to a single stock's earnings and regulatory risk, who want weekly income capped by call overlays and can stomach a higher beta to that equity's moves.
YBIT: Designed for investors seeking broader bitcoin price exposure without single-company risk, willing to accept a longer track record and smaller fund size in exchange for tracking the commodity itself rather than an exchange operator.
Key risks to know
NAV erosion from high distribution yields. Both funds distribute yields exceeding 67%, signaling that returns of capital are likely subsidizing regular income. At these payout rates, NAV tends to drift downward over time unless underlying asset prices appreciate sharply enough to offset distributions.
Upside cap from call sales. The covered call overlay limits gains on the underlying price movement. If COIN rallies sharply or bitcoin surges, shareholders surrender those excess returns to the call buyers; income comes at the cost of capped capital appreciation.
Single-asset concentration.CONY's dependence on Coinbase means investors face regulatory risk tied to U.S. cryptocurrency exchange oversight, business model shifts, and competitive pressure on COIN's valuation. YBIT avoids company-specific risk but concentrates fully on bitcoin price moves.
Shorter and smaller track records.YBIT launched 2 years ago with only $46.1M in AUM, giving limited data on how its strategy performs across market cycles. CONY, though also relatively young, has roughly $340M and a longer performance history to assess. If you prefer bitcoin's commodity exposure without company risk and are comfortable with a newer, smaller fund, YBIT delivers that profile. Both sacrifice upside for weekly income and carry NAV erosion risk at these distribution rates—past performance doesn't predict future results, and shared market stress could hit both funds sharply if crypto volatility contracts or prices fall.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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The metrics behind this comparison, explained in the Academy.
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