IETH vs. QRMI

Last updated Jul 14, 2026

IETH (Bitwise Ethereum Option Income Strategy ETF) and QRMI (Global X NASDAQ 100 Risk Managed Income ETF) are both exchange-traded funds - IETH is a Derivative Income fund actively managed by Bitwise, while QRMI is a Nasdaq-100 fund actively managed by Global X. Both are actively managed. At a 0.42 correlation, their price movements are largely independent. IETH charges 0.97%/yr vs 0.60%/yr for QRMI.

Performance

IETH vs. QRMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Ethereum Option Income Strategy ETF (IETH) and Global X NASDAQ 100 Risk Managed Income ETF (QRMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IETH achieves a -34.41% return, which is significantly lower than QRMI's 1.94% return.

IETH

• 1D: -0.91%
• 1M: 6.35%
• 6M: -37.61%
• YTD: -34.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QRMI

• 1D: -1.23%
• 1M: -0.38%
• 6M: 0.97%
• YTD: 1.94%
• 1Y: 8.13%
• 3Y*: 6.39%
• 5Y*: —
• 10Y*: —

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

IETH vs. QRMI - Yearly Performance Comparison

	2026 (YTD)	2025
IETH Bitwise Ethereum Option Income Strategy ETF	-34.41%	-27.34%
QRMI Global X NASDAQ 100 Risk Managed Income ETF	1.94%	3.91%

Correlation

The correlation between IETH and QRMI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.42

Return for Risk

IETH vs. QRMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IETH

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

QRMI

QRMI Risk / Return Rank: 46
QRMI Sharpe Ratio Rank: 46
QRMI Sortino Ratio Rank: 42
QRMI Omega Ratio Rank: 49
QRMI Calmar Ratio Rank: 40
QRMI Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IETH vs. QRMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Option Income Strategy ETF (IETH) and Global X NASDAQ 100 Risk Managed Income ETF (QRMI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IETH	QRMI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.28	—
Sortino ratio: Return per unit of downside risk	—	1.73	—
Omega ratio: Gain probability vs. loss probability	—	1.25	—
Calmar ratio: Return relative to maximum drawdown	—	1.62	—
Martin ratio: Return relative to average drawdown	—	6.92	—

Drawdowns

IETH vs. QRMI - Drawdown Comparison

The maximum IETH drawdown since its inception was -59.76%, which is greater than QRMI's maximum drawdown of -20.95%. Use the drawdown chart below to compare losses from any high point for IETH and QRMI.

Drawdown Indicators

	IETH	QRMI	Difference
Max Drawdown Largest peak-to-trough decline	-59.76%	-20.95%	-38.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.43%	—
Current Drawdown Current decline from peak	-54.66%	-1.61%	-53.05%
Average Drawdown Average peak-to-trough decline	-39.54%	-7.82%	-31.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.18%	—

Volatility

Volatility by Period

	IETH	QRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	59.55%	6.38%	+53.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.55%	8.37%	+51.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.55%	8.37%	+51.18%

IETH vs. QRMI - Expense Ratio Comparison

IETH has a 0.97% expense ratio, which is higher than QRMI's 0.60% expense ratio.

Dividends

IETH vs. QRMI - Dividend Comparison

IETH's dividend yield for the trailing twelve months is around 48.23%, more than QRMI's 12.39% yield.

Position	TTM	2025	2024	2023	2022	2021
IETH Bitwise Ethereum Option Income Strategy ETF	48.23%	18.26%	0.00%	0.00%	0.00%	0.00%
QRMI Global X NASDAQ 100 Risk Managed Income ETF	12.39%	12.28%	11.80%	12.44%	10.65%	3.36%

Frequently Asked Questions

Can I hold both IETH and QRMI in my portfolio?

IETH and QRMI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IETH or QRMI?

On fees, QRMI is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IETH or QRMI?

QRMI is cheaper with a 0.60% expense ratio, compared with 0.97% for IETH.

Which ETF pays a higher dividend yield, IETH or QRMI?

IETH has the higher dividend yield at 48.23%, compared with 12.39% for QRMI.

What is the main difference between IETH and QRMI?

IETH is categorized as Derivative Income, while QRMI is Nasdaq-100. They also come from different issuers: Bitwise and Global X. Their fees differ too: 0.97% for IETH and 0.60% for QRMI.