BTOP vs VYM
Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | BTOP | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.04% | |
| AUM | $4M | $79.0B | |
| Dividend Yield | 2.32% | 2.86% | |
| Holdings | 5 | 568 | |
| YTD Return | +0.00% | +15.80% | |
| 1Y Return | -12.09% | +26.12% | |
| 3Y Return (annualized) | - | +18.25% | |
| 5Y Return (annualized) | - | +12.51% | |
| Volatility (annualized) | 53.5% | 14.6% | |
| Max Drawdown | -43.4% | -58.8% | |
| Fund Family | Bitwise | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 29, 2023 | Nov 10, 2006 |
BTOP vs VYM Performance
Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (BTOP) is a ETF from Bitwise and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year BTOP returned -12.09% while VYM returned +26.12%. Year to date, BTOP is up 0.00% versus a gain of 15.80% for VYM.
Risk: Volatility and Drawdowns
BTOP has been the more volatile fund, with annualized monthly volatility of 53.5% compared with 14.6% for VYM. 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 -43.4% for BTOP and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.37. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BTOP charges 0.89% per year while VYM charges 0.04%. On a $10,000 position that is $89 vs $4 annually, a gap of $85 per year that compounds over a long holding period. On income, BTOP currently yields 2.32% against 2.86% for VYM.
Holdings Overlap
BTOP and VYM share 0 holdings out of 559 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BTOP or VYM?
BTOP has an expense ratio of 0.89% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $85 per year of difference.
Which performed better, BTOP or VYM?
Over the past year BTOP returned -12.09% vs +26.12% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (3 years), BTOP annualized +28.38% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, BTOP or VYM?
BTOP has been the more volatile fund at 53.5% annualized versus 14.6% for VYM. Worst drawdown: BTOP -43.4% vs VYM -58.8%.
Should I hold both BTOP and VYM?
BTOP and VYM have a monthly-return correlation of 0.37, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BTOP and VYM?
BTOP and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, BTOP or VYM?
BTOP yields 2.32% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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