Dividend comparison

BTCI vs CONY: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for NEOS Bitcoin High Income ETF and YieldMax COIN Option Income Strategy ETF, side by side. Updated October 21, 2026.

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BTCI vs CONY: key differences
The short answer, from the latest data on this page.
  • Fees. BTCI is cheaper at 0.99% a year versus 1.04% for CONY. On $10,000 that is $5 a year less in fees.
  • Income. CONY pays more income, yielding 120.75% over the last twelve months versus 30.36% for BTCI. That is about $9,039 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 1 year, BTCI returned -39.6% versus -42.5% for CONY, with dividends reinvested. $10,000 would have grown to $6,041 in BTCI and $5,752 in CONY.
  • Risk. CONY has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -68.8%, against -55.9% for BTCI.
  • Size. BTCI is the larger fund with $1.4 billion in assets, against $355 million for CONY.

Bottom line: BTCI fits better if you care most about lower fees, stronger 1-year returns and smaller drawdowns. CONY fits better if you care most about more income today.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricBTCI
NEOS Bitcoin High Income ETF
CONY
YieldMax COIN Option Income Strategy ETF
Dividend yield (TTM)30.36%120.75%
Dividend / share (TTM)$10.14$21.94
Payout frequencyMonthlyMonthly
Last dividend$0.7180 on Sep 18, 2026$0.2148 on Oct 16, 2026
Ex-dividend dateSep 16, 2026Oct 15, 2026
Price$33.39$18.17
Beta1.421.93
Max drawdown (5Y)-55.9%-68.8%
Market cap$1.41B$362.4M
ExchangeCBOEAMEX
Expense ratio0.99%1.04%
Assets under management$1.42B$354.7M
Number of holdings—6
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

BTCI

$252.97/mo

$3036 /yr at 30.36% yield

CONY

$1006.26/mo

$12075 /yr at 120.75% yield

Dividend history
Total dividends paid per share in each calendar year. BTCI pays monthly; CONY pays monthly.
YearBTCICONY
2025$16.0521$75.5777
2024—$202.9790
Strategy: Single-stock option income
Funds that hold synthetic exposure to one stock, or a basket of them, and sell call options against it every week or month to pay very large distributions. The payout comes from option premium, which is high because the underlying stocks are volatile. When the stock rallies hard, the fund keeps only a slice of the gain; when it falls, the fund takes most of the loss.

Distributions can include return of capital and the share price tends to erode over time, so the headline yield overstates what the investor actually keeps.

What BTCI vs CONY actually do

BTCI
A NEOS fund that holds spot bitcoin exchange-traded products and writes call options against that exposure for monthly income.

Rather than owning bitcoin or futures directly, it holds spot bitcoin ETPs such as IBIT and HODL, then sells calls on bitcoin-related funds to collect premium. Bitcoin's implied volatility is extreme by equity standards, so the premium collected and the resulting distributions are very large, and so is the amount of upside handed over when bitcoin runs. Fees are around 1% a year, which is high in absolute terms though normal for this category.

Suits someone who already wants bitcoin exposure and would rather convert its volatility into monthly cash than wait for appreciation. Entirely unsuitable as a core income holding: the underlying asset can halve, the distribution is not contractual, and the call overlay removes exactly the upside that justifies owning bitcoin in the first place.

Speculative income, very high volatility

CONY
A YieldMax fund that sells options tied to Coinbase Global stock for weekly income, without holding the shares.

Exposure is synthetic: the fund buys calls and sells puts at matching strikes to replicate roughly 100% of the stock's price movement, then writes calls or call spreads on top to collect premium. Coinbase's earnings move with crypto trading volume, so both the stock and the option premium swing hard with the crypto cycle, and the distribution swings with them. Like others in the range it charges around 1% a year and has paid distributions that included return of capital.

Suits only a speculative sleeve sized so that a total loss would not matter. The structure concentrates single-company risk, caps the upside that would otherwise compensate for it, and can erode net asset value over time while still paying out, so it does not behave like the income funds it is often compared against.

Speculative, single-stock, capital at high risk

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 17, 2024 would now be worth $9,411 in BTCI and $6,085 in CONY.
PeriodBTCICONY
1 month1.77%-8.69%
3 months15.34%10.46%
Year to date-24.15%-18.30%
1 year-39.59%-42.48%
3 years—13.56%
5 years——
  • BTCI
  • CONY
421101792024202520269461

Both series indexed to 100 on 2024-10-17 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • BTCI
  • CONY
0%25%50%75%100%Cash & Others100.0%

Quick verdict

BTCI fits better if you care most about lower fees, stronger 1-year returns and smaller drawdowns. CONY fits better if you care most about more income today. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is BTCI or CONY better for dividend income?
It depends on your goals. BTCI currently yields 30.36% Trailing Twelve Months (TTM) while CONY yields 120.75%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between BTCI and CONY?
NEOS Bitcoin High Income ETF (BTCI) is an ETF listed on CBOE. YieldMax COIN Option Income Strategy ETF (CONY) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, BTCI or CONY?
BTCI has the lower expense ratio. BTCI charges 0.99% a year and CONY charges 1.04%, a difference of $5 a year on a $10,000 investment.
Which has performed better, BTCI or CONY?
Over the last 1 year, BTCI has the higher total return with dividends reinvested: BTCI returned -39.6% and CONY returned -42.5%. Past performance does not predict future returns.
Which is riskier, BTCI or CONY?
Measured by the worst peak-to-trough decline over the last five years, CONY has been riskier: BTCI fell as much as 55.9% and CONY as much as 68.8%. Their betas are 1.42 and 1.93.
How often do BTCI and CONY pay dividends?
Both pay monthly. The most recent payments were $0.7180 for BTCI and $0.2148 for CONY.
How much income does $10,000 in BTCI vs CONY generate?
At current TTM yields, $10,000 in BTCI would generate roughly $252.97 per month ($3036 annually). The same amount in CONY would produce about $1006.26 per month ($12075 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both BTCI and CONY?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare BTCI vs CONY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how BTCI and CONY fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.