Dividend comparison

YBTC vs BTCI: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Roundhill Investments - Bitcoin Covered Call Strategy ETF and NEOS Bitcoin High Income ETF, side by side. Updated October 24, 2026.

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YBTC vs BTCI: key differences

The short answer, from the latest data on this page.

Fees. YBTC is cheaper at 0.95% a year versus 0.99% for BTCI. On $10,000 that is $4 a year less in fees.
Income. YBTC pays more income, yielding 55.87% over the last twelve months versus 33.62% for BTCI. That is about $2,225 more a year on $10,000. Both pay monthly.
Performance. Over the last 1 year, BTCI returned -40.1% versus -50.3% for YBTC, with dividends reinvested. $10,000 would have grown to $5,990 in BTCI and $4,968 in YBTC.
Risk. YBTC has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -62.1%, against -55.9% for BTCI.
Size. BTCI is the larger fund with $1.4 billion in assets, against $139 million for YBTC.

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

Side-by-side snapshot

Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.

Metric	YBTC Roundhill Investments - Bitcoin Covered Call Strategy ETF	BTCI NEOS Bitcoin High Income ETF
Dividend yield (TTM)	55.87%	33.62%
Dividend / share (TTM)	$10.29	$10.83
Payout frequency	Monthly	Monthly
Last dividend	$0.1450 on Oct 22, 2026	$0.6950 on Oct 23, 2026
Ex-dividend date	Oct 21, 2026	Oct 21, 2026
Price	$18.41	$32.22
Beta	1.01	1.42
Max drawdown (5Y)	-62.1%	-55.9%
Market cap	$140.1M	$1.41B
Exchange	CBOE	CBOE
Expense ratio	0.95%	0.99%
Assets under management	$139.0M	$1.44B
Number of holdings	6	—
Top 10 concentration	210.0%	—

Income on a $10,000 investment

Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

YBTC

$465.57/mo

$5587 /yr at 55.87% yield

BTCI

$280.13/mo

$3362 /yr at 33.62% yield

Dividend history

Total dividends paid per share in each calendar year. YBTC pays monthly; BTCI pays monthly.

Year	YBTC	BTCI
2025	$20.2469	$16.0521

Strategy: Crypto-linked income

The most aggressive category on the site: funds that take exposure to bitcoin or a crypto-linked stock, usually through options or futures rather than by owning the asset, and sell calls against it to generate large distributions. Extreme implied volatility is what funds the payout, and the same volatility is what makes the exposure underneath unpredictable. Fees are around 1% a year and the exposure is often synthetic, so what you own is a set of derivative contracts, not the asset itself.

Distributions vary sharply, have included return of capital, and upside is capped while downside is not, so net asset value can fall a long way even in periods when the payments keep arriving.

What YBTC vs BTCI actually do

YBTC

A Roundhill fund that builds synthetic bitcoin exposure with options and sells weekly calls against it for income.

It does not own bitcoin or a bitcoin fund. Instead it holds long calls and short puts at matching strikes on a bitcoin ETF, which together replicate the price movement of the reference asset, with Treasuries posted as collateral. Against that synthetic position it writes weekly call options, so upside is capped every single week while the full downside of bitcoin passes through unhedged.

Suits a holder who wants frequent cash flow from a bitcoin allocation and understands that a weekly cap plus uncapped downside is an asymmetric bargain. Not appropriate for anyone treating it as a way to own bitcoin, because in a sustained rally the capped structure will fall a long way behind the asset it references.

Speculative income, very high volatility

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

Performance

Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 17, 2024 would now be worth $6,747 in YBTC and $9,107 in BTCI.

Period	YBTC	BTCI
1 month	-4.75%	-6.18%
3 months	1.82%	11.72%
Year to date	-35.18%	-26.60%
1 year	-50.32%	-40.10%
3 years	—	—
5 years	—	—

YBTC
BTCI

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.

YBTC
BTCI

Top 10 holdings

Largest positions by portfolio weight. One of these funds runs a derivative strategy and reports no conventional constituents.

YBTC6 holdings total

Name	Weight
912797VA2United States Treasury Bill 12/03/2026	91.73%
912797UJ4United States Treasury Bill 10/08/2026	90.20%
4IBIT 260821C00036440IBIT 08/21/2026 36.44 C	12.98%
4IBIT 260918C00043870IBIT 09/18/2026 43.87 C	6.49%
FGXXXFirst American Government Obligations Fund 12/01/2031	5.65%
4IBIT 261016C00045860IBIT 10/16/2026 45.86 C	3.15%
4IBIT 260821P00036440IBIT 08/21/2026 36.44 P	-0.01%
4IBIT 260814C00037890IBIT 08/14/2026 37.89 C	-0.03%
4IBIT 260731C00037930IBIT 07/31/2026 37.93 C	-0.03%
4IBIT 260724C00037510IBIT 07/24/2026 37.51 C	-0.15%

Quick verdict

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

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Frequently asked questions

Is YBTC or BTCI better for dividend income?

It depends on your goals. YBTC currently yields 55.87% Trailing Twelve Months (TTM) while BTCI yields 33.62%. 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 YBTC and BTCI?

Roundhill Investments - Bitcoin Covered Call Strategy ETF (YBTC) is an ETF listed on CBOE. NEOS Bitcoin High Income ETF (BTCI) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.

Which is cheaper, YBTC or BTCI?

YBTC has the lower expense ratio. YBTC charges 0.95% a year and BTCI charges 0.99%, a difference of $4 a year on a $10,000 investment.

Which has performed better, YBTC or BTCI?

Over the last 1 year, BTCI has the higher total return with dividends reinvested: YBTC returned -50.3% and BTCI returned -40.1%. Past performance does not predict future returns.

Which is riskier, YBTC or BTCI?

Measured by the worst peak-to-trough decline over the last five years, YBTC has been riskier: YBTC fell as much as 62.1% and BTCI as much as 55.9%. Their betas are 1.01 and 1.42.

How often do YBTC and BTCI pay dividends?

Both pay monthly. The most recent payments were $0.1450 for YBTC and $0.6950 for BTCI.

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

At current TTM yields, $10,000 in YBTC would generate roughly $465.57 per month ($5587 annually). The same amount in BTCI would produce about $280.13 per month ($3362 annually). Actual payouts vary with distribution changes and reinvestment.

Can I hold both YBTC and BTCI?

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 YBTC vs BTCI with my full portfolio?

Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how YBTC and BTCI 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.