A head-to-head comparison of iShares Bitcoin Trust ETF and YieldMax Bitcoin Option Income Strategy ETF covering yield, cost, risk, and income potential.
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.
IBIT has lagged YBIT over the trailing twelve months, posting a -27.14% total return against -26.49%. Measured from Apr 2024 — the start of shared available history — IBIT has compounded at 9.56% a year versus -4.37% 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 30, 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 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.
Distribution rate, SEC yield and return of capital
Metric
IBIT
YBIT
Forward distribution rate
—
40.33%
Trailing 12-month yield
—
77.11%
30-day SEC yield
—
2.21%
Return of capital
—
94.71%
Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Provide exposure to bitcoin price performance through a physically backed trust structure.
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 IBIT if you want straightforward Bitcoin exposure for the long run. Choose YBIT if you want to maximize current income — roughly 40.33%, 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 IBIT 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.
Crypto volatility. IBIT 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.
Capped upside and premium dependence. YBIT 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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.
See our curated list of related YouTube videos on IBIT.
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.
IBIT (iShares Bitcoin Trust ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both ETFs, but they take different approaches.
YBIT currently shows a 40.33% distribution yield. IBIT has not yet established a full distribution history, so a comparable yield figure is not available.
IBIT is cheaper with an expense ratio of 0.25% compared to 1.02%.
IBIT is the larger fund by assets ($67.1B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose IBIT
iShares Bitcoin Trust ETF
Want straightforward Bitcoin exposure for long-term appreciation, not income.
Want to keep costs low — a 0.25% expense ratio vs 1.02% for YBIT.
Choose YBIT
YieldMax Bitcoin Option Income Strategy ETF
Want to maximize current income — YBIT distributes roughly 40.33% from selling options premium, while IBIT 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 IBIT.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
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On a $10,000 investment, IBIT has no reported distribution yield yet, so a cash estimate is not available, while YBIT would produce $77.56 cash per distribution, at current distribution rates.
IBIT yield—
YBIT yield40.33%
Cost & efficiency
Over 10 years on $10,000, IBIT would cost approximately $250 in fees vs $1,020 for YBIT (simplified, not compounded). The $770.00 difference may be offset by yield or performance.
IBIT ER0.25%
YBIT ER1.02%
Strategy & risk
IBIT tracks Bitcoin with a crypto approach, while YBIT is actively managed around Bitcoin exposure with a covered call approach. Beta is 1.8887 for IBIT and 1.5424 for YBIT, making YBIT the less volatile of the two by this measure.
IBIT beta1.8887
YBIT beta1.5424
Fund details
IBIT is managed by iShares (launched 01/11/2024) with $67.1B in assets. YBIT is managed by YieldMax (launched 04/22/2024) with $62.0M in assets.
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Frequently asked questions
Which of IBIT or YBIT pays more dividend income?
YBIT currently reports a distribution yield, while IBIT 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 IBIT and YBIT?
IBIT (iShares Bitcoin Trust ETF) tracks Bitcoin 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 iShares and YieldMax respectively.
Can I hold both IBIT 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, IBIT or YBIT?
IBIT has an expense ratio of 0.25% 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 IBIT vs YBIT generate?
At current rates, IBIT has not established a distribution history yet, so a cash estimate is not available. The same in YBIT would produce about $77.56 cash per distribution ($4,033.00 annually).
Which has performed better historically, IBIT or YBIT?
IBIT has lagged YBIT over the trailing twelve months, posting a -27.14% total return against -26.49%. Measured from Apr 2024 — the start of shared available history — IBIT has compounded at 9.56% a year versus -4.37% for YBIT. 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.
Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.
Overview
IBIT and YBIT both provide bitcoin exposure but through fundamentally different structures. IBIT is a physically backed spot bitcoin ETF that holds actual bitcoin and passes through price appreciation with no distributions. YBIT is an actively managed fund that sells weekly call options on bitcoin ETFs to generate income, capping upside in exchange for regular payouts. The choice between them hinges on whether you want pure price exposure or a systematic income overlay that sacrifices appreciation potential.
How they differ
The single largest difference is their distribution strategy. Second, YBIT's expense ratio of 1.02% is four times IBIT's 0.25%, a gap widened by YBIT's active management and derivative implementation. Third, YBIT is substantially smaller, with $62.0M in assets versus $67.1B for IBIT, reflecting YBIT's much shorter track record—it launched 2 years after IBIT's inception 01/11/2024. IBIT's beta of 1.8887 is higher than YBIT's 1.5424, suggesting IBIT amplifies bitcoin's moves more directly, while YBIT's call-selling dampens both upside and downside volatility.
Who each is best for
IBIT: Fits investors seeking straightforward bitcoin price exposure without income requirements, who are comfortable holding an appreciating asset and reinvesting proceeds separately, or who prefer the simplicity and lower cost of a passive, physically backed structure.
YBIT: Fits investors who want to extract regular income from bitcoin exposure and accept capped upside in exchange for weekly distributions, or who view call-selling as a disciplined way to harvest volatility while maintaining directional bitcoin ownership.
Key risks to know
Derivatives and strike risk (YBIT): Weekly call-selling caps gains at predetermined strikes each week. If bitcoin rallies sharply, YBIT's upside is mechanically limited, and the fund may be "called away" early, leaving you owning cash or a replacement position at an unfavorable price. IBIT has no such cap.
NAV erosion at extreme yield (YBIT): A 40.33% annualized distribution rate financed by systematic premium collection is unlikely to persist if implied volatility falls or call bid-ask spreads widen. This structure is vulnerable to yield compression and potential NAV erosion if underlying bitcoin volatility normalizes.
Operational complexity (YBIT): Active call management, rebalancing, and weekly settlement introduce operational friction and tax events that passive spot bitcoin ownership avoids. Tracking error versus the bitcoin price itself may become material. If you want bitcoin's full upside potential, IBIT's simplicity and size stand out. If you prioritize monthly or weekly income and accept that upside will be regularly harvested, YBIT's income approach may align with your strategy—though its youth and thin AUM merit monitoring. 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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