- Issuer
- Bitwise
- Inception Date
- Jun 9, 2025
- Region
- North America (United States)
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Assets Under Management
- $1M
Share Price Chart
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Performance
IGME Performance Chart
Bitwise GME Option Income Strategy ETF (IGME) is up 12.6% since the beginning of the year. IGME is currently trading at $23 per share.
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Returns By Period
Bitwise GME Option Income Strategy ETF
- 1D
- -1.86%
- 1M
- -10.54%
- YTD
- 12.57%
- 6M
- 1.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- 24.32%
- 3Y*
- 19.90%
- 5Y*
- 11.79%
- 10Y*
- 13.33%
IGME Monthly Returns History
Based on dividend-adjusted daily data since Jun 10, 2025, IGME's average daily return is -0.04%, while the average monthly return is -0.76%.
Historically, 46% of months were positive and 54% were negative. The best month was Sep 2025 with a return of +18.9%, while the worst month was Oct 2025 at -15.5%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 3 months.
On a daily basis, IGME closed higher 51% of trading days. The best single day was Sep 10, 2025 with a return of +5.1%, while the worst single day was Jun 12, 2025 at -22.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 14.18% | 3.29% | -0.89% | 6.22% | -12.12% | 3.18% | 12.57% | ||||||
| 2025 | -14.22% | -5.88% | 2.00% | 18.91% | -15.52% | -1.44% | -7.64% | -24.69% |
Benchmark Metrics
Bitwise GME Option Income Strategy ETF has an annualized alpha of -21.88%, beta of 0.69, and R2 of 0.06 versus S&P 500 Index. Calculated based on daily prices since June 11, 2025.
- This ETF participated in 30.96% of S&P 500 Index downside but only -36.34% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.69 may look defensive, but with R2 of 0.06 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.06 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -21.88%
- Beta
- 0.69
- R²
- 0.06
- Upside Capture
- -36.34%
- Downside Capture
- 30.96%
Expense Ratio
IGME has a high expense ratio of 0.96%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Bitwise GME Option Income Strategy ETF (IGME) and compare them to S&P 500 Index.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Dividends
Dividend History
Bitwise GME Option Income Strategy ETF provided a 88.20% dividend yield over the last twelve months, with an annual payout of $19.93 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $19.93 | $16.16 |
Dividend yield | 88.20% | 69.25% |
Monthly Dividends
The table displays the monthly dividend distributions for Bitwise GME Option Income Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.66 | $1.29 | $0.85 | $0.51 | $0.46 | $0.00 | $3.78 | ||||||
| 2025 | $2.74 | $2.57 | $3.42 | $2.78 | $2.39 | $2.26 | $16.16 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Bitwise GME Option Income Strategy ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Bitwise GME Option Income Strategy ETF was 26.33%, occurring on Nov 20, 2025. The portfolio has not yet recovered.
The current Bitwise GME Option Income Strategy ETF drawdown is 15.22%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 bear market2025 | -26.33%Nov 2025 | 5mo 12d | — | 12mo 23hJun 2025 - now |
Drawdown Indicators
| IGME | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -56.78% | +30.45% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -15.22% | -2.97% | -12.25% |
Average DrawdownAverage peak-to-trough decline | -14.49% | -10.72% | -3.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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