IGME vs. MRNY
IGME (Bitwise GME Option Income Strategy ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. IGME charges 0.96%/yr vs 0.99%/yr for MRNY.
Performance
IGME vs. MRNY - Performance Comparison
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Returns By Period
In the year-to-date period, IGME achieves a 12.57% return, which is significantly lower than MRNY's 47.14% return.
IGME
- 1D
- -1.86%
- 1M
- -10.54%
- YTD
- 12.57%
- 6M
- 1.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MRNY
- 1D
- -5.48%
- 1M
- -0.56%
- YTD
- 47.14%
- 6M
- 49.33%
- 1Y
- 48.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGME vs. MRNY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IGME Bitwise GME Option Income Strategy ETF | 12.57% | -24.69% |
MRNY YieldMax MRNA Option Income Strategy ETF | 47.14% | -3.89% |
Correlation
The correlation between IGME and MRNY is 0.23, 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 | 0.23 |
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Return for Risk
IGME vs. MRNY — Risk / Return Rank
IGME
MRNY
IGME vs. MRNY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise GME Option Income Strategy ETF (IGME) and YieldMax MRNA Option Income Strategy ETF (MRNY). 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
| IGME | MRNY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.44 | -0.51 | +0.07 |
Drawdowns
IGME vs. MRNY - Drawdown Comparison
The maximum IGME drawdown since its inception was -26.33%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for IGME and MRNY.
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Drawdown Indicators
| IGME | MRNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -82.15% | +55.82% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.53% | — |
Current DrawdownCurrent decline from peak | -15.22% | -69.02% | +53.80% |
Average DrawdownAverage peak-to-trough decline | -14.49% | -52.66% | +38.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 16.17% | — |
Volatility
IGME vs. MRNY - Volatility Comparison
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Volatility by Period
| IGME | MRNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.57% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 37.45% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 35.50% | 49.69% | -14.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.50% | 50.82% | -15.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.50% | 50.82% | -15.32% |
IGME vs. MRNY - Expense Ratio Comparison
IGME has a 0.96% expense ratio, which is lower than MRNY's 0.99% expense ratio.
Dividends
IGME vs. MRNY - Dividend Comparison
IGME's dividend yield for the trailing twelve months is around 88.20%, less than MRNY's 105.86% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IGME Bitwise GME Option Income Strategy ETF | 88.20% | 69.25% | 0.00% | 0.00% |
MRNY YieldMax MRNA Option Income Strategy ETF | 105.86% | 145.98% | 178.49% | 1.75% |
Frequently Asked Questions
IGME and MRNY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
IGME is cheaper with a 0.96% expense ratio, compared with 0.99% for MRNY.
MRNY has the higher dividend yield at 105.86%, compared with 88.20% for IGME.
They also come from different issuers: Bitwise and YieldMax. Their fees differ too: 0.96% for IGME and 0.99% for MRNY.
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