IMST vs. BITO
Compare and contrast key facts about Bitwise Funds Trust (IMST) and ProShares Bitcoin Strategy ETF (BITO).
IMST and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IMST is an actively managed fund by Bitwise. It was launched on Apr 1, 2025. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
IMST vs. BITO - Performance Comparison
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IMST vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IMST Bitwise Funds Trust | -6.63% | -44.26% |
BITO ProShares Bitcoin Strategy ETF | -23.25% | 3.05% |
Returns By Period
In the year-to-date period, IMST achieves a -6.63% return, which is significantly higher than BITO's -23.25% return.
IMST
- 1D
- 2.70%
- 1M
- -2.43%
- YTD
- -6.63%
- 6M
- -52.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITO
- 1D
- 1.75%
- 1M
- 2.92%
- YTD
- -23.25%
- 6M
- -41.96%
- 1Y
- -21.48%
- 3Y*
- 24.62%
- 5Y*
- —
- 10Y*
- —
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IMST vs. BITO - Expense Ratio Comparison
IMST has a 0.99% expense ratio, which is higher than BITO's 0.95% expense ratio.
Return for Risk
IMST vs. BITO — Risk / Return Rank
IMST
BITO
IMST vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and ProShares Bitcoin Strategy ETF (BITO). 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
| IMST | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.78 | -0.08 | -0.71 |
Correlation
The correlation between IMST and BITO is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IMST vs. BITO - Dividend Comparison
IMST's dividend yield for the trailing twelve months is around 256.65%, more than BITO's 84.71% yield.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IMST Bitwise Funds Trust | 256.65% | 195.93% | 0.00% | 0.00% |
BITO ProShares Bitcoin Strategy ETF | 84.71% | 78.29% | 61.59% | 15.14% |
Drawdowns
IMST vs. BITO - Drawdown Comparison
The maximum IMST drawdown since its inception was -69.86%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for IMST and BITO.
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Drawdown Indicators
| IMST | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.86% | -77.86% | +8.00% |
Max Drawdown (1Y)Largest decline over 1 year | — | -50.05% | — |
Current DrawdownCurrent decline from peak | -63.47% | -47.07% | -16.40% |
Average DrawdownAverage peak-to-trough decline | -31.01% | -36.56% | +5.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 23.55% | — |
Volatility
IMST vs. BITO - Volatility Comparison
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Volatility by Period
| IMST | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 12.89% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 36.69% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 61.92% | 45.35% | +16.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.92% | 55.79% | +6.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.92% | 55.79% | +6.13% |