Data as of .
BPI vs DFII: which paid, and which earned it?
BPI and DFII both write options for income.
What they hold in common
By the books each fund has filed, BPI and DFII hold 0% of their money in the same securities at the same weight.
| Only in BPI | Only in DFII |
|---|---|
| TREASURY BILL 100.00% | 2026-09-30 S&P 500® Mini Index P 2,997.64 1283.75% |
| US Dollar 0.98% | |
| 2026-09-30 iShares Bitcoin Trust ETF C 49.94 0.46% | |
| 2026-09-30 S&P 500® Mini Index C 2,810.29 0.01% | |
| 2026-09-30 S&P 500® Mini Index C 2,997.64 -0.01% | |
| 2026-09-25 iShares Bitcoin Trust ETF C 46.02 -0.36% | |
| 2026-09-30 iShares Bitcoin Trust ETF P 49.94 -8.84% | |
| 2026-09-30 S&P 500® Mini Index P 2,810.29 -1175.99% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| BPI | DFII | BPI | DFII | BPI | DFII | |
| 3 months | +26.6% | +23.6% | 4.0% | 4.7% | −2.5 pts | −5.6 pts |
| 6 months | not published | +10.5% | not published | 8.4% | not published | −5.2 pts |
| 1 year | not published | −32.5% | not published | 11.5% | not published | −1.5 pts |
| Since launch | +5.4% | −5.6% | 5.4% | 24.3% | −0.8 pts | −4.4 pts |
| BPI Grayscale Bitcoin Premium Income ETF Covered call on IBIT, paying monthly | DFII FT Vest Bitcoin Strategy & Target Income ETF Option income on IBIT, paying monthly | |
|---|---|---|
| Issuer | Grayscale | First Trust |
| Strategy | covered call | option income |
| Benchmark | Bitcoin (IBIT) | Bitcoin (IBIT) |
| Pays | monthly | monthly |
| Payout rate, annualized | 6.3% | 17.4% |
| Expense ratio | 0.65% | 0.85% |
| Cash paid, 1 year | 5.4% (since launch on Apr 30, 2026) | 11.5% |
| Price change, 1 year | −0.8% | −43.7% |
| Total return, 1 year | +5.4% (since launch on Apr 30, 2026) | −32.5% |
| Benchmark return, 1 year | +6.2% | −31.1% |
| Ahead or behind | −0.8 pts | −1.5 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 141 days | 533 days |
| Net assets | $3m | $21m |
BPI in plain words
Over the period since launch on Apr 30, 2026 to Sep 18, 2026, BPI paid 5.4% of its starting value in cash distributions while its price fell 0.8%. With every distribution reinvested, the fund returned +5.4%. Bitcoin (IBIT) returned +6.2% over the same days, so a holder was behind by 0.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 6.3%, paid monthly.
DFII in plain words
Over the year to Sep 18, 2026, DFII paid 11.5% of its starting value in cash distributions while its price fell 43.7%. With every distribution reinvested, the fund returned −32.5%. Bitcoin (IBIT) returned −31.1% over the same days, so a holder was behind by 1.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 17.4%, paid monthly.
Questions people ask
- Which is cheaper, BPI or DFII?
- BPI charges 0.65% a year and DFII charges 0.85%, so BPI is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BPI against DFII, data as of Sep 18, 2026. https://etfiq.com/compare/income/bpi-vs-dfii Free to use with attribution; the underlying files are at Open data.