IMRA vs. COSW

Last updated Jun 4, 2026

IMRA (Bitwise MARA Option Income Strategy ETF) and COSW (Roundhill COST WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. At a 0.01 correlation, their price movements are largely independent. IMRA charges 0.98%/yr vs 0.99%/yr for COSW.

Performance

IMRA vs. COSW - Performance Comparison

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

Returns By Period

In the year-to-date period, IMRA achieves a 30.26% return, which is significantly higher than COSW's 12.13% return.

IMRA

• 1D: -0.83%
• 1M: 9.36%
• YTD: 30.26%
• 6M: 0.68%
• 1Y: -32.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COSW

• 1D: 0.92%
• 1M: -6.40%
• YTD: 12.13%
• 6M: 2.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMRA vs. COSW - Yearly Performance Comparison

	2026 (YTD)	2025
IMRA Bitwise MARA Option Income Strategy ETF	30.26%	-48.24%
COSW Roundhill COST WeeklyPay ETF	12.13%	-10.71%

Correlation

The correlation between IMRA and COSW is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.01

Return for Risk

IMRA vs. COSW — Risk / Return Rank

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

IMRA

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

IMRA vs. COSW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise MARA Option Income Strategy ETF (IMRA) and Roundhill COST WeeklyPay ETF (COSW). 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.

	IMRA	COSW	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	—	—
Sortino ratio: Return per unit of downside risk	-0.51	—	—
Omega ratio: Gain probability vs. loss probability	0.94	—	—
Calmar ratio: Return relative to maximum drawdown	-0.53	—	—
Martin ratio: Return relative to average drawdown	-0.86	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IMRA	COSW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	0.01	-0.20

Drawdowns

IMRA vs. COSW - Drawdown Comparison

The maximum IMRA drawdown since its inception was -61.55%, which is greater than COSW's maximum drawdown of -16.24%. Use the drawdown chart below to compare losses from any high point for IMRA and COSW.

Drawdown Indicators

	IMRA	COSW	Difference
Max Drawdown Largest peak-to-trough decline	-61.55%	-16.24%	-45.31%
Max Drawdown (1Y) Largest decline over 1 year	-61.55%	—	—
Current Drawdown Current decline from peak	-40.71%	-14.62%	-26.09%
Average Drawdown Average peak-to-trough decline	-28.21%	-4.17%	-24.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.93%	—	—

Volatility

Volatility by Period

	IMRA	COSW	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	59.89%	26.10%	+33.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.39%	26.10%	+35.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.39%	26.10%	+35.29%

IMRA vs. COSW - Expense Ratio Comparison

IMRA has a 0.98% expense ratio, which is lower than COSW's 0.99% expense ratio.

Dividends

IMRA vs. COSW - Dividend Comparison

IMRA's dividend yield for the trailing twelve months is around 108.66%, more than COSW's 18.13% yield.

Position	TTM	2025
COSW Roundhill COST WeeklyPay ETF	18.13%	4.96%
IMRA Bitwise MARA Option Income Strategy ETF	108.66%	188.74%

Frequently Asked Questions

Can I hold both IMRA and COSW in my portfolio?

IMRA and COSW have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMRA or COSW?

On fees, IMRA is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMRA or COSW?

IMRA is cheaper with a 0.98% expense ratio, compared with 0.99% for COSW.

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

IMRA has the higher dividend yield at 108.66%, compared with 18.13% for COSW.

What is the main difference between IMRA and COSW?

They also come from different issuers: Bitwise and Roundhill. Their fees differ too: 0.98% for IMRA and 0.99% for COSW.