BTF vs SPY
CoinShares Bitcoin and Ether ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BTF or SPY?
Multicurrency against Large Cap Blend.
SPY has a lower expense ratio. BTF led over 3Y, SPY over 1Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BTF | SPY |
|---|---|---|
| Expense Ratio | 1.27% | 0.09%Best |
| AUM | $16M | $804.7B |
| Dividend Yield | 170.93% | 0.98% |
| Holdings | 7 | 505 |
| YTD Return | -10.05% | +13.82%Best |
| 1Y Return | -31.01% | +16.96%Best |
| 3Y Return (annualized) | +28.80%Best | +22.97% |
| 5Y Return (annualized) | -2.54% | +13.73%Best |
| Volatility (annualized) | 60.6% | 15.6%Best |
| Max Drawdown | -77.5% | -24.5%Best |
| $10,000 over 5 years | $8,793 | $19,027Best |
| Fund Family | Valkyrie Funds | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multicurrency | Large Cap Blend |
| Inception | Oct 21, 2021 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 22, 2021 to Sep 21, 2026 (4.9 years).
BTF vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.9 years both funds cover.
BTF vs SPY Performance
CoinShares Bitcoin and Ether ETF (BTF) is an ETF from Valkyrie Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BTF returned -31.01% while SPY returned +16.96%. Year to date, BTF is down 10.05% versus a gain of 13.82% for SPY.
Over three years, BTF compounded at +28.80% per year against +22.97% for SPY; over five years the annualized figures are -2.54% and +13.73% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BTF has been the more volatile fund, with annualized monthly volatility of 60.6% compared with 15.6% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -77.5% for BTF and -24.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.50. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BTF charges 1.27% per year while SPY charges 0.09%. On a $10,000 position that is $127 vs $9 annually, a gap of $118 per year that compounds over a long holding period. On income, BTF currently yields 170.93% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 1 holding in BTF and 504 in SPY, totalling 5.4% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in BTF and 504 in SPY, against full books of 7 and 505.
You are not choosing between two funds in isolation.
Whichever of BTF and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BTF or SPY?
BTF has an expense ratio of 1.27% while SPY charges 0.09%. SPY is the cheaper option, by $118 a year on a $10,000 investment.
Which performed better, BTF or SPY?
Over the past year BTF returned -31.01% vs +16.96% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BTF or SPY?
BTF has been the more volatile fund at 60.6% annualized versus 15.6% for SPY. Worst drawdown: BTF -77.5% vs SPY -24.5%.
Should I hold both BTF and SPY?
BTF and SPY have a monthly-return correlation of 0.50, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BTF or SPY?
BTF yields 170.93% while SPY yields 0.98%, so BTF currently pays the higher dividend yield.
Is SPY better than BTF?
SPY has a lower expense ratio. BTF led over 3Y, SPY over 1Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.