IGME vs. FYEE

Last updated Jun 27, 2026

IGME (Bitwise GME Option Income Strategy ETF) and FYEE (Fidelity Yield Enhanced Equity ETF) are both Derivative Income funds. Both are actively managed. Over the past year, IGME returned 2.39% vs 18.93% for FYEE. At a 0.26 correlation, their price movements are largely independent. IGME charges 0.96%/yr vs 0.28%/yr for FYEE.

Performance

IGME vs. FYEE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise GME Option Income Strategy ETF (IGME) and Fidelity Yield Enhanced Equity ETF (FYEE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGME achieves a 14.61% return, which is significantly higher than FYEE's 4.85% return.

IGME

• 1D: 3.49%
• 1M: 2.69%
• YTD: 14.61%
• 6M: 9.47%
• 1Y: 2.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FYEE

• 1D: -0.05%
• 1M: -1.46%
• YTD: 4.85%
• 6M: 4.01%
• 1Y: 18.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IGME vs. FYEE - Yearly Performance Comparison

	2026 (YTD)	2025
IGME Bitwise GME Option Income Strategy ETF	14.61%	-24.20%
FYEE Fidelity Yield Enhanced Equity ETF	4.85%	15.60%

Correlation

The correlation between IGME and FYEE is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	0.26

Return for Risk

IGME vs. FYEE — Risk / Return Rank

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

IGME

IGME Risk / Return Rank: 10
IGME Sharpe Ratio Rank: 10
IGME Sortino Ratio Rank: 10
IGME Omega Ratio Rank: 10
IGME Calmar Ratio Rank: 10
IGME Martin Ratio Rank: 10

FYEE

FYEE Risk / Return Rank: 66
FYEE Sharpe Ratio Rank: 65
FYEE Sortino Ratio Rank: 61
FYEE Omega Ratio Rank: 72
FYEE Calmar Ratio Rank: 60
FYEE Martin Ratio Rank: 75

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.

IGME vs. FYEE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise GME Option Income Strategy ETF (IGME) and Fidelity Yield Enhanced Equity ETF (FYEE). 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.

	IGME	FYEE	Difference
Sharpe ratio: Return per unit of total volatility	0.09	1.86	-1.77
Sortino ratio: Return per unit of downside risk	0.32	2.50	-2.18
Omega ratio: Gain probability vs. loss probability	1.04	1.37	-0.33
Calmar ratio: Return relative to maximum drawdown	0.09	2.57	-2.48
Martin ratio: Return relative to average drawdown	0.19	12.43	-12.24

IGME vs. FYEE - Sharpe Ratio Comparison

The current IGME Sharpe Ratio is 0.09, which is lower than the FYEE Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of IGME and FYEE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IGME vs. FYEE - Drawdown Comparison

The maximum IGME drawdown since its inception was -26.33%, which is greater than FYEE's maximum drawdown of -18.79%. Use the drawdown chart below to compare losses from any high point for IGME and FYEE.

Drawdown Indicators

	IGME	FYEE	Difference
Max Drawdown Largest peak-to-trough decline	-26.33%	-18.79%	-7.54%
Max Drawdown (1Y) Largest decline over 1 year	-25.70%	-7.39%	-18.31%
Current Drawdown Current decline from peak	-13.69%	-2.33%	-11.36%
Average Drawdown Average peak-to-trough decline	-14.44%	-2.23%	-12.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.54%	1.53%	+11.01%

Volatility

IGME vs. FYEE - Volatility Comparison

Bitwise GME Option Income Strategy ETF (IGME) has a higher volatility of 8.24% compared to Fidelity Yield Enhanced Equity ETF (FYEE) at 4.09%. This indicates that IGME's price experiences larger fluctuations and is considered to be riskier than FYEE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGME	FYEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.24%	4.09%	+4.15%
Volatility (6M) Calculated over the trailing 6-month period	19.49%	8.07%	+11.42%
Volatility (1Y) Calculated over the trailing 1-year period	27.27%	10.24%	+17.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.87%	13.89%	+20.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.87%	13.89%	+20.98%

IGME vs. FYEE - Expense Ratio Comparison

IGME has a 0.96% expense ratio, which is higher than FYEE's 0.28% expense ratio.

Dividends

IGME vs. FYEE - Dividend Comparison

IGME's dividend yield for the trailing twelve months is around 89.88%, more than FYEE's 8.67% yield.

Position	TTM	2025	2024
FYEE Fidelity Yield Enhanced Equity ETF	8.67%	7.08%	5.45%
IGME Bitwise GME Option Income Strategy ETF	89.88%	69.25%	0.00%

Frequently Asked Questions

Can I hold both IGME and FYEE in my portfolio?

IGME and FYEE have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGME or FYEE?

IGME has higher volatility (8.24%) compared to FYEE (4.09%). In terms of maximum drawdown, IGME dropped -26.33% vs FYEE's -18.79%.

Which ETF is better, IGME or FYEE?

On 1-year performance, FYEE leads with 18.93% vs 2.39% for IGME. On fees, FYEE is cheaper at 0.28% per year. On volatility, FYEE has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGME or FYEE?

Over the 1-year period, FYEE has performed better with a 18.93% return vs 2.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGME or FYEE?

FYEE is cheaper with a 0.28% expense ratio, compared with 0.96% for IGME.

Which ETF pays a higher dividend yield, IGME or FYEE?

IGME has the higher dividend yield at 89.88%, compared with 8.67% for FYEE.

What is the main difference between IGME and FYEE?

They also come from different issuers: Bitwise and Fidelity. Their fees differ too: 0.96% for IGME and 0.28% for FYEE.

Which has better risk-adjusted returns?

FYEE currently has the higher Sharpe Ratio (1.86 vs 0.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.