IMST vs. CHPY
IMST (Bitwise Funds Trust) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, IMST returned -72.39% vs 108.16% for CHPY. At a 0.34 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.
Performance
IMST vs. CHPY - Performance Comparison
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Returns By Period
In the year-to-date period, IMST achieves a -31.57% return, which is significantly lower than CHPY's 70.96% return.
IMST
- 1D
- -1.79%
- 1M
- -18.69%
- 6M
- -35.66%
- YTD
- -31.57%
- 1Y
- -72.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CHPY
- 1D
- -4.62%
- 1M
- -4.92%
- 6M
- 57.62%
- YTD
- 70.96%
- 1Y
- 108.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IMST vs. CHPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IMST Bitwise Funds Trust | -31.57% | -46.36% |
CHPY YieldMax Semiconductor Portfolio Option Income ETF | 70.96% | 56.76% |
Correlation
The correlation between IMST and CHPY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | 0.34 |
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Return for Risk
IMST vs. CHPY — Risk / Return Rank
IMST
CHPY
IMST vs. CHPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IMST | CHPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.29 | ||
| Sortino ratioReturn per unit of downside risk | -5.80 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.48 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 8.11 | -9.07 |
| Martin ratioReturn relative to average drawdown | -1.41 | 27.19 | -28.59 |
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Drawdowns
IMST vs. CHPY - Drawdown Comparison
The maximum IMST drawdown since its inception was -75.63%, which is greater than CHPY's maximum drawdown of -13.41%. Use the drawdown chart below to compare losses from any high point for IMST and CHPY.
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Drawdown Indicators
| IMST | CHPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.63% | -13.41% | -62.22% |
Max Drawdown (1Y)Largest decline over 1 year | -75.63% | -13.41% | -62.22% |
Current DrawdownCurrent decline from peak | -73.23% | -12.94% | -60.29% |
Average DrawdownAverage peak-to-trough decline | -38.06% | -2.38% | -35.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.48% | 3.99% | +47.49% |
Volatility
IMST vs. CHPY - Volatility Comparison
Bitwise Funds Trust (IMST) has a higher volatility of 21.80% compared to YieldMax Semiconductor Portfolio Option Income ETF (CHPY) at 19.81%. This indicates that IMST's price experiences larger fluctuations and is considered to be riskier than CHPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMST | CHPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.80% | 19.81% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 47.22% | 30.94% | +16.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.28% | 35.39% | +24.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.84% | 37.72% | +23.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.84% | 37.72% | +23.12% |
IMST vs. CHPY - Expense Ratio Comparison
Both IMST and CHPY have an expense ratio of 0.99%.
Dividends
IMST vs. CHPY - Dividend Comparison
IMST's dividend yield for the trailing twelve months is around 253.23%, more than CHPY's 33.70% yield.
| Position | TTM | 2025 |
|---|---|---|
CHPY YieldMax Semiconductor Portfolio Option Income ETF | 33.70% | 28.19% |
IMST Bitwise Funds Trust | 253.23% | 195.93% |
Frequently Asked Questions
IMST and CHPY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMST has higher volatility (21.80%) compared to CHPY (19.81%). In terms of maximum drawdown, IMST dropped -75.63% vs CHPY's -13.41%.
On 1-year performance, CHPY leads with 108.16% vs -72.39% for IMST. Both ETFs have the same 0.99% expense ratio. On volatility, CHPY has been the lower-risk option at 19.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CHPY has performed better with a 108.16% return vs -72.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMST and CHPY have the same expense ratio: 0.99% per year.
IMST has the higher dividend yield at 253.23%, compared with 33.70% for CHPY.
They also come from different issuers: Bitwise and YieldMax.
CHPY currently has the higher Sharpe Ratio (3.08 vs -1.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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