Dividend comparison
BTCI vs IBIT: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for NEOS Bitcoin High Income ETF and iShares Bitcoin Trust ETF, side by side. Updated October 21, 2026.
- Fees. IBIT is cheaper at 0.25% a year versus 0.99% for BTCI. On $10,000 that is $74 a year less in fees.
- Performance. Over the last 1 year, IBIT returned -25.8% versus -39.6% for BTCI, with dividends reinvested. $10,000 would have grown to $7,423 in IBIT and $6,041 in BTCI.
- Risk. BTCI has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -55.9%, against -53.3% for IBIT.
- Size. IBIT is the larger fund with $65.6 billion in assets, against $1.4 billion for BTCI.
Bottom line: IBIT has the edge on these figures, with lower fees and stronger 1-year returns. BTCI does not lead on any of the measures compared here.
| Metric | BTCI NEOS Bitcoin High Income ETF | IBIT iShares Bitcoin Trust ETF |
|---|---|---|
| Dividend yield (TTM) | 30.36% | — |
| Dividend / share (TTM) | $10.14 | — |
| Payout frequency | Monthly | — |
| Last dividend | $0.7180 on Sep 18, 2026 | — |
| Ex-dividend date | Sep 16, 2026 | — |
| Price | $33.39 | $46.71 |
| Beta | 1.42 | 2.14 |
| Max drawdown (5Y) | -55.9% | -53.3% |
| Market cap | $1.41B | $65.51B |
| Exchange | CBOE | NASDAQ |
| Expense ratio | 0.99% | 0.25% |
| Assets under management | $1.42B | $65.64B |
| Number of holdings | — | 1 |
BTCI
$252.97/mo
$3036 /yr at 30.36% yield
IBIT
—/mo
Yield data unavailable
| Year | BTCI | IBIT |
|---|---|---|
| 2025 | $16.0521 | — |
Bitcoin has fallen more than 70% from its peak several times, and price swings of 10% in a day are not unusual.
What BTCI vs IBIT actually do
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
| Period | BTCI | IBIT |
|---|---|---|
| 1 month | 1.77% | 1.50% |
| 3 months | 15.34% | 28.50% |
| Year to date | -24.15% | -5.92% |
| 1 year | -39.59% | -25.77% |
| 3 years | — | — |
| 5 years | — | — |
- BTCI
- IBIT
Both series indexed to 100 on 2024-10-17 using the adjusted closing price series. Past performance does not guarantee future results.
- BTCI
- IBIT
Quick verdict
IBIT has the edge on these figures, with lower fees and stronger 1-year returns. BTCI does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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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.