ICOI vs VOO
Bitwise COIN Option Income Strategy ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | ICOI | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.98% | 0.03% | |
| AUM | $14M | $979.0B | |
| Dividend Yield | 303.19% | 1.09% | |
| Holdings | 4 | 509 | |
| YTD Return | -25.55% | +13.72% | |
| 1Y Return | -51.70% | +21.63% | |
| 3Y Return (annualized) | - | +21.55% | |
| 5Y Return (annualized) | - | +13.26% | |
| Volatility (annualized) | 39.0% | 14.1% | |
| Max Drawdown | -59.3% | -34.3% | |
| Fund Family | Bitwise | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 1, 2025 | Sep 7, 2010 |
ICOI vs VOO Performance
Bitwise COIN Option Income Strategy ETF (ICOI) is a ETF from Bitwise and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year ICOI returned -51.70% while VOO returned +21.63%. Year to date, ICOI is down 25.55% versus a gain of 13.72% for VOO.
Risk: Volatility and Drawdowns
ICOI has been the more volatile fund, with annualized monthly volatility of 39.0% compared with 14.1% for VOO. 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 -59.3% for ICOI and -34.3% for VOO. 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 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ICOI charges 0.98% per year while VOO charges 0.03%. On a $10,000 position that is $98 vs $3 annually, a gap of $95 per year that compounds over a long holding period. On income, ICOI currently yields 303.19% against 1.09% for VOO.
Frequently Asked Questions
Which is cheaper, ICOI or VOO?
ICOI has an expense ratio of 0.98% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $95 per year of difference.
Which performed better, ICOI or VOO?
Over the past year ICOI returned -51.70% vs +21.63% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (1 years), ICOI annualized -22.48% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, ICOI or VOO?
ICOI has been the more volatile fund at 39.0% annualized versus 14.1% for VOO. Worst drawdown: ICOI -59.3% vs VOO -34.3%.
Should I hold both ICOI and VOO?
ICOI and VOO have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, ICOI or VOO?
ICOI yields 303.19% while VOO yields 1.09%, so ICOI currently pays the higher dividend yield.
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