IGME vs. QQA

Last updated Jun 6, 2026

IGME (Bitwise GME Option Income Strategy ETF) and QQA (Invesco QQQ Income Advantage ETF) are both Derivative Income funds. Both are actively managed. At a 0.33 correlation, their price movements are largely independent. IGME charges 0.96%/yr vs 0.29%/yr for QQA.

Performance

IGME vs. QQA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise GME Option Income Strategy ETF (IGME) and Invesco QQQ Income Advantage ETF (QQA). 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 higher than QQA's 10.16% return.

IGME

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

QQA

• 1D: -3.57%
• 1M: 0.95%
• YTD: 10.16%
• 6M: 9.29%
• 1Y: 26.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IGME vs. QQA - Yearly Performance Comparison

	2026 (YTD)	2025
IGME Bitwise GME Option Income Strategy ETF	12.57%	-24.69%
QQA Invesco QQQ Income Advantage ETF	10.16%	14.24%

Correlation

The correlation between IGME and QQA is 0.33, 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	0.33

Return for Risk

IGME vs. QQA — Risk / Return Rank

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

QQA

QQA Risk / Return Rank: 66
QQA Sharpe Ratio Rank: 64
QQA Sortino Ratio Rank: 61
QQA Omega Ratio Rank: 65
QQA Calmar Ratio Rank: 64
QQA 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. QQA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise GME Option Income Strategy ETF (IGME) and Invesco QQQ Income Advantage ETF (QQA). 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	QQA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	1.03	-1.46

Drawdowns

IGME vs. QQA - Drawdown Comparison

The maximum IGME drawdown since its inception was -26.33%, which is greater than QQA's maximum drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for IGME and QQA.

Drawdown Indicators

	IGME	QQA	Difference
Max Drawdown Largest peak-to-trough decline	-26.33%	-19.73%	-6.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.76%	—
Current Drawdown Current decline from peak	-15.22%	-3.95%	-11.27%
Average Drawdown Average peak-to-trough decline	-14.49%	-2.44%	-12.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.96%	—

Volatility

Volatility by Period

	IGME	QQA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	35.50%	13.11%	+22.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.50%	18.43%	+17.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.50%	18.43%	+17.07%

IGME vs. QQA - Expense Ratio Comparison

IGME has a 0.96% expense ratio, which is higher than QQA's 0.29% expense ratio.

Dividends

IGME vs. QQA - Dividend Comparison

IGME's dividend yield for the trailing twelve months is around 88.20%, more than QQA's 9.66% yield.

Position	TTM	2025	2024
IGME Bitwise GME Option Income Strategy ETF	88.20%	69.25%	0.00%
QQA Invesco QQQ Income Advantage ETF	9.66%	9.78%	4.29%

Frequently Asked Questions

Can I hold both IGME and QQA in my portfolio?

IGME and QQA have a correlation of 0.33, 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 QQA?

On fees, QQA is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IGME or QQA?

QQA is cheaper with a 0.29% expense ratio, compared with 0.96% for IGME.

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

IGME has the higher dividend yield at 88.20%, compared with 9.66% for QQA.

What is the main difference between IGME and QQA?

They also come from different issuers: Bitwise and Invesco. Their fees differ too: 0.96% for IGME and 0.29% for QQA.