ETF Comparison

IBIT vs YBTC: Which Is the Better Pick in 2026?

A head-to-head comparison of iShares Bitcoin Trust ETF and Roundhill Bitcoin Covered Call Strategy ETF covering yield, cost, risk, and income potential.

Data updated July 8, 2026

Bottom lineChoose IBIT if you want straightforward Bitcoin exposure for the long run. Choose YBTC if you want to maximize current income — roughly 37.86%, generated by selling options premium. There's no free lunch: YBTC's payout comes from selling options, which caps upside and can erode the share price over time, while IBIT keeps full price exposure.

Our take

IBIT

Updated Jul 8, 2026

IBIT is the plain-vanilla way to own Bitcoin inside a brokerage account: spot exposure with no options overlay and no futures roll. It has grown into the largest and most liquid of the spot-Bitcoin ETFs, and among the cheapest.

A price bet, not an income holding. IBIT pays no distribution — every dollar of return has to come from Bitcoin appreciating. If you need cash flow, this is the wrong tool.
Liquidity and cost are the moat. Tight spreads and deep volume make it a clean building block, and the low fee compounds in your favor over long holds.
Full crypto volatility. Treat it as the high-risk sleeve of a portfolio and size it accordingly — the drawdowns are real.

iShares

ETFs481

Total AUM$4452B

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.

See all iShares ETFs

Roundhill Investments

ETFs55

Total AUM$28.0B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Roundhill Investments is known for offering specialized ETFs that focus on income generation and thematic investing strategies. The firm operates 42 funds across five distinct families—Core, HALO, Income, Thematic, and WeeklyPay—with a particular emphasis on covered call strategies and weekly distribution products designed to generate regular cash flows. Notable offerings include ticker symbols like AAPW, AMDW, and AMZW (which employ covered call strategies on major technology stocks), along with thematic funds covering areas such as artificial intelligence (CHAT), cryptocurrency mining (DRAM), and other innovative sectors.

See our curated list of related YouTube videos on YBTC.

See all Roundhill Investments ETFs

Side-by-side snapshot

	IBIT	YBTC
Full name	iShares Bitcoin Trust ETF	Roundhill Bitcoin Covered Call Strategy ETF
Issuer	iShares	Roundhill Investments
Last Close	$36.15 as of July 8, 2026	$17.73 as of July 8, 2026
Distribution yield	0.00%	37.86%
Distribution Safety Score	—	46
Expense ratio	0.12%	0.95%
AUM	$48.6B	$130M
Distribution frequency	None	Weekly
Underlying index	Bitcoin	Bitcoin
Objective	Provide exposure to bitcoin price performance through a physically backed trust structure.	Covered Call
Asset class	Equity	Equity
Inception date	01/11/2024	06/27/2024
Beta	1.8887	1.7556
Last dividend	—	$0.1291
Ex-dividend date	—	07/01/2026

Income calculator

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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

IBIT has lagged YBTC over the trailing twelve months, posting a -41.12% total return against -40.53%. Measured from Jan 2024 — when the younger fund began trading — IBIT has compounded at 19.41% a year versus 3.94% for YBTC. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	Since Jan 2024	Volatility	Sharpe	Sortino	Max drawdown
IBIT	-29.03%	-41.12%	19.41%	44.9%	-1.29	-1.69	-53.3%
YBTC	-28.57%	-40.53%	3.94%	40.6%	-1.40	-1.77	-49.9%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 7, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jan 2024” measures every fund from January 18, 2024 — 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 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.

Quick verdict

IBIT (iShares Bitcoin Trust ETF) and YBTC (Roundhill Bitcoin Covered Call Strategy ETF) are both ETFs, but they take different approaches.

YBTC currently shows a 37.86% 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 0.12% compared to 0.95%.

IBIT is the larger fund by assets ($48.6B), which generally means tighter spreads and better 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 0.12% expense ratio vs 0.95% for YBTC.

Choose YBTC

Roundhill Bitcoin Covered Call Strategy ETF

Want to maximize current income — YBTC distributes roughly 37.86% from selling options premium, while IBIT makes no distribution.
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, IBIT has no reported distribution yield yet, so a monthly income estimate is not available, while YBTC would produce $315.50/month, at current distribution rates.

IBIT yield0.00%

YBTC yield37.86%

Cost & efficiency

Over 10 years on $10,000, IBIT would cost approximately $120 in fees vs $950 for YBTC (simplified, not compounded). The $830.00 difference may be offset by yield or performance.

IBIT ER0.12%

YBTC ER0.95%

Strategy & risk

IBIT tracks Bitcoin with a crypto approach, while YBTC tracks Bitcoin with a covered call approach. Beta is 1.8887 for IBIT and 1.7556 for YBTC, indicating YBTC is less volatile relative to the market.

IBIT beta1.8887

YBTC beta1.7556

Fund details

IBIT is managed by iShares (launched 01/11/2024) with $48.6B in assets. YBTC is managed by Roundhill Investments (launched 06/27/2024) with $130M in assets.

IBIT AUM$48.6B

YBTC AUM$130M

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Frequently asked questions

Which of IBIT or YBTC pays more dividend income?

YBTC 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 YBTC?

IBIT (iShares Bitcoin Trust ETF) tracks Bitcoin with a crypto approach, while YBTC (Roundhill Bitcoin Covered Call Strategy ETF) tracks Bitcoin with a covered call approach. They are issued by iShares and Roundhill Investments respectively.

Can I hold both IBIT and YBTC?

Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

Which has lower fees, IBIT or YBTC?

IBIT has an expense ratio of 0.12% while YBTC charges 0.95%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in IBIT vs YBTC generate?

At current rates, IBIT has not established a distribution history yet, so a monthly income estimate is not available. The same in YBTC would produce about $315.50 per month ($3,786.00 annually).

Which has performed better historically, IBIT or YBTC?

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IBIT vs YBTC — at a glance

Generated July 2026 from current fund data.

Overview

IBIT and YBTC both offer bitcoin exposure through ETFs, but they pursue fundamentally different strategies. IBIT is a straightforward spot bitcoin trust—you own bitcoin directly through the fund's holdings. YBTC overlays a covered call strategy on bitcoin, selling call options against bitcoin holdings to generate ongoing income while capping upside. The distinction matters: one prioritizes price appreciation; the other trades potential gains for current yield.

How they differ

IBTC holds physical bitcoin with zero distributions and a 0.12% expense ratio, designed to track bitcoin price performance without friction. YBTC holds bitcoin but continuously sells call options, generating a 40.51% distribution rate paid weekly—a synthetic income strategy that transfers upside to option buyers in exchange for premium. The structural tradeoff is immediate: IBTC has $48.6B in AUM and minimal drag; YBTC has $130M AUM, charges 0.95% in expenses, and by design caps any rally beyond the strike prices embedded in its covered call ladder. IBIT launched in January 2024 and has become the dominant spot bitcoin ETF; YBTC arrived six months later and remains a niche product. Both carry similar beta around 1.76–1.89, meaning they move roughly in line with bitcoin volatility, but YBTC's call obligations will blunt sharp rallies.

Who each is best for

IBIT: Fits investors seeking pure bitcoin price exposure without income expectations—those comfortable with volatility and wanting the lowest-cost, most liquid conduit to bitcoin's upside.

YBTC: Fits investors who want monthly or quarterly income from bitcoin holdings and accept that call strikes will limit gains in a strong bull market; suits those viewing bitcoin as a core holding and preferring predictable cash flow over unlimited appreciation.

Key risks to know

Call strike erosion in rallies. YBTC's covered calls cap upside at predetermined strike prices. If bitcoin rallies sharply, the fund's NAV may underperform IBIT significantly as call obligations force exits at fixed prices while the underlying asset rises further.

NAV decay from high distribution yield. YBTC's 40.51% annualized distribution—paid weekly—is sourced primarily from option premium, not bitcoin appreciation. If implied volatility contracts or bitcoin trades sideways, the fund may struggle to sustain that distribution rate, creating pressure on NAV.

Liquidity and scale disadvantage. YBTC has $130M in AUM versus IBIT's $48.6B. Tighter spreads, deeper order books, and institutional adoption favor IBIT, making YBTC more sensitive to redemption flows and less attractive for large positions.

Option assignment and roll risk. Weekly distributions require continuous call rolling. If markets gap sharply or liquidity dries up during rollovers, execution costs could spike and strike selection could be unfavorable, eroding returns below the stated distribution rate.

Bottom line

If you want exposure to bitcoin's full price potential with minimal fees, IBIT's spot structure and $48.6B scale offer straightforward access. If you prioritize steady income and accept capped upside, YBTC's 40.51% distribution rate appeals—but understand that those calls will limit gains in a sustained rally, and the 0.95% expense ratio plus weekly distributions come with reinvestment and operational complexity. Past performance does not predict future results, and both bitcoin's volatility and options pricing can shift sharply.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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