IETH vs. IMRA

Last updated Apr 1, 2026

Compare and contrast key facts about Bitwise Ethereum Option Income Strategy ETF (IETH) and Bitwise MARA Option Income Strategy ETF (IMRA).

IETH and IMRA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IETH is an actively managed fund by Bitwise. It was launched on Oct 1, 2025. IMRA is an actively managed fund by Bitwise. It was launched on Apr 1, 2025.

Performance

IETH vs. IMRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Ethereum Option Income Strategy ETF (IETH) and Bitwise MARA Option Income Strategy ETF (IMRA). The values are adjusted to include any dividend payments, if applicable.

IETH vs. IMRA - Yearly Performance Comparison

	2026 (YTD)	2025
IETH Bitwise Ethereum Option Income Strategy ETF	-26.81%	-28.43%
IMRA Bitwise MARA Option Income Strategy ETF	-6.91%	-48.03%

Returns By Period

In the year-to-date period, IETH achieves a -26.81% return, which is significantly lower than IMRA's -6.91% return.

IETH

• 1D: 2.49%
• 1M: 11.47%
• YTD: -26.81%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IMRA

• 1D: 4.17%
• 1M: -11.74%
• YTD: -6.91%
• 6M: -50.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IETH vs. IMRA - Expense Ratio Comparison

IETH has a 0.97% expense ratio, which is lower than IMRA's 0.98% expense ratio.

IMRA

Bitwise MARA Option Income Strategy ETF

IETH

Bitwise Ethereum Option Income Strategy ETF

Return for Risk

IETH vs. IMRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Option Income Strategy ETF (IETH) and Bitwise MARA Option Income Strategy ETF (IMRA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IETH	IMRA	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.09	-0.60	-0.49

Correlation

The correlation between IETH and IMRA is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IETH vs. IMRA - Dividend Comparison

IETH's dividend yield for the trailing twelve months is around 39.70%, less than IMRA's 219.65% yield.

	TTM	2025
IETH Bitwise Ethereum Option Income Strategy ETF	39.70%	18.26%
IMRA Bitwise MARA Option Income Strategy ETF	219.65%	188.74%

Drawdowns

IETH vs. IMRA - Drawdown Comparison

The maximum IETH drawdown since its inception was -55.94%, smaller than the maximum IMRA drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for IETH and IMRA.

Drawdown Indicators

	IETH	IMRA	Difference
Max Drawdown Largest peak-to-trough decline	-55.94%	-61.55%	+5.61%
Current Drawdown Current decline from peak	-49.40%	-57.63%	+8.23%
Average Drawdown Average peak-to-trough decline	-33.75%	-24.95%	-8.80%

Volatility

Volatility by Period

	IETH	IMRA	Difference
Volatility (1Y) Calculated over the trailing 1-year period	67.56%	64.63%	+2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.56%	64.63%	+2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.56%	64.63%	+2.93%