IGME vs. IMRA

Last updated Jun 6, 2026

IGME (Bitwise GME Option Income Strategy ETF) and IMRA (Bitwise MARA Option Income Strategy ETF) are both Derivative Income funds from Bitwise. Both are actively managed. At a 0.31 correlation, their price movements are largely independent. IGME charges 0.96%/yr vs 0.98%/yr for IMRA.

Performance

IGME vs. IMRA - Performance Comparison

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

Returns By Period

In the year-to-date period, IGME achieves a 12.57% return, which is significantly lower than IMRA's 18.51% return.

IGME

• 1D: -1.86%
• 1M: -10.54%
• YTD: 12.57%
• 6M: 1.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IMRA

• 1D: -9.01%
• 1M: -4.28%
• YTD: 18.51%
• 6M: -4.61%
• 1Y: -37.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IGME vs. IMRA - Yearly Performance Comparison

	2026 (YTD)	2025
IGME Bitwise GME Option Income Strategy ETF	12.57%	-24.69%
IMRA Bitwise MARA Option Income Strategy ETF	18.51%	-50.83%

Correlation

The correlation between IGME and IMRA is 0.31, 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 Jun 11, 2025	0.31

Return for Risk

IGME vs. IMRA — Risk / Return Rank

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

IMRA

IMRA Risk / Return Rank: 4
IMRA Sharpe Ratio Rank: 4
IMRA Sortino Ratio Rank: 4
IMRA Omega Ratio Rank: 4
IMRA Calmar Ratio Rank: 4
IMRA Martin Ratio Rank: 5

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. IMRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise GME Option Income Strategy ETF (IGME) 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

	IGME	IMRA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	-0.30	-0.14

Drawdowns

IGME vs. IMRA - Drawdown Comparison

The maximum IGME drawdown since its inception was -26.33%, smaller than the maximum IMRA drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for IGME and IMRA.

Drawdown Indicators

	IGME	IMRA	Difference
Max Drawdown Largest peak-to-trough decline	-26.33%	-61.55%	+35.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-61.55%	—
Current Drawdown Current decline from peak	-15.22%	-46.06%	+30.84%
Average Drawdown Average peak-to-trough decline	-14.49%	-28.31%	+13.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	38.13%	—

Volatility

Volatility by Period

	IGME	IMRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	44.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	35.50%	60.28%	-24.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.50%	61.75%	-26.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.50%	61.75%	-26.25%

IGME vs. IMRA - Expense Ratio Comparison

IGME has a 0.96% expense ratio, which is lower than IMRA's 0.98% expense ratio.

Dividends

IGME vs. IMRA - Dividend Comparison

IGME's dividend yield for the trailing twelve months is around 88.20%, less than IMRA's 119.44% yield.

Position	TTM	2025
IGME Bitwise GME Option Income Strategy ETF	88.20%	69.25%
IMRA Bitwise MARA Option Income Strategy ETF	119.44%	188.74%

Frequently Asked Questions

Can I hold both IGME and IMRA in my portfolio?

IGME and IMRA have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IGME or IMRA?

On fees, IGME is cheaper at 0.96% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IGME or IMRA?

IGME is cheaper with a 0.96% expense ratio, compared with 0.98% for IMRA.

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

IMRA has the higher dividend yield at 119.44%, compared with 88.20% for IGME.

What is the main difference between IGME and IMRA?

Their fees differ too: 0.96% for IGME and 0.98% for IMRA.