IETH vs. IMST
IETH (Bitwise Ethereum Option Income Strategy ETF) and IMST (Bitwise Funds Trust) are both Derivative Income funds from Bitwise. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. IETH charges 0.97%/yr vs 0.99%/yr for IMST.
Performance
IETH vs. IMST - Performance Comparison
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Returns By Period
In the year-to-date period, IETH achieves a -33.82% return, which is significantly lower than IMST's -14.98% return.
IETH
- 1D
- -5.08%
- 1M
- -18.82%
- YTD
- -33.82%
- 6M
- -35.44%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IMST
- 1D
- -5.79%
- 1M
- -25.22%
- YTD
- -14.98%
- 6M
- -28.07%
- 1Y
- -62.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IETH vs. IMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IETH Bitwise Ethereum Option Income Strategy ETF | -33.82% | -28.43% |
IMST Bitwise Funds Trust | -14.98% | -51.61% |
Correlation
The correlation between IETH and IMST is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 3, 2025 | 0.82 |
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Return for Risk
IETH vs. IMST — Risk / Return Rank
IETH
IMST
IETH vs. IMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Option Income Strategy ETF (IETH) and Bitwise Funds Trust (IMST). 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.
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Sharpe Ratios by Period
| IETH | IMST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -1.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.13 | -0.80 | -0.34 |
Drawdowns
IETH vs. IMST - Drawdown Comparison
The maximum IETH drawdown since its inception was -55.94%, smaller than the maximum IMST drawdown of -69.86%. Use the drawdown chart below to compare losses from any high point for IETH and IMST.
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Drawdown Indicators
| IETH | IMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.94% | -69.86% | +13.92% |
Max Drawdown (1Y)Largest decline over 1 year | — | -69.86% | — |
Current DrawdownCurrent decline from peak | -54.25% | -66.74% | +12.49% |
Average DrawdownAverage peak-to-trough decline | -37.10% | -35.27% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 46.22% | — |
Volatility
IETH vs. IMST - Volatility Comparison
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Volatility by Period
| IETH | IMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.83% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 44.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 59.79% | 56.91% | +2.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.79% | 59.73% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.79% | 59.73% | +0.06% |
IETH vs. IMST - Expense Ratio Comparison
IETH has a 0.97% expense ratio, which is lower than IMST's 0.99% expense ratio.
Dividends
IETH vs. IMST - Dividend Comparison
IETH's dividend yield for the trailing twelve months is around 46.99%, less than IMST's 221.80% yield.
| Position | TTM | 2025 |
|---|---|---|
IETH Bitwise Ethereum Option Income Strategy ETF | 46.99% | 18.26% |
IMST Bitwise Funds Trust | 221.80% | 195.93% |
Frequently Asked Questions
IETH and IMST have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IETH is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IETH is cheaper with a 0.97% expense ratio, compared with 0.99% for IMST.
IMST has the higher dividend yield at 221.80%, compared with 46.99% for IETH.
Their fees differ too: 0.97% for IETH and 0.99% for IMST.
Find the right allocation for IETH and IMST
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