IMST vs. IMRA

Last updated Apr 1, 2026

Compare and contrast key facts about Bitwise Funds Trust (IMST) and Bitwise MARA Option Income Strategy ETF (IMRA).

IMST and IMRA 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. IMRA is an actively managed fund by Bitwise. It was launched on Apr 1, 2025.

Performance

IMST vs. IMRA - Performance Comparison

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

IMST vs. IMRA - Yearly Performance Comparison

	2026 (YTD)	2025
IMST Bitwise Funds Trust	-6.63%	-44.26%
IMRA Bitwise MARA Option Income Strategy ETF	-6.91%	-33.37%

Returns By Period

The year-to-date returns for both stocks are quite close, with IMST having a -6.63% return and IMRA slightly lower at -6.91%.

IMST

• 1D: 2.70%
• 1M: -2.43%
• YTD: -6.63%
• 6M: -52.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IMRA

• 1D: 4.17%
• 1M: -11.74%
• YTD: -6.91%
• 6M: -50.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMST vs. IMRA - Expense Ratio Comparison

IMST has a 0.99% expense ratio, which is higher than IMRA's 0.98% expense ratio.

IMST

Bitwise Funds Trust

IMRA

Bitwise MARA Option Income Strategy ETF

Return for Risk

IMST vs. IMRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and Bitwise MARA Option Income Strategy ETF (IMRA). 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

	IMST	IMRA	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	-0.60	-0.19

Correlation

The correlation between IMST and IMRA is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IMST vs. IMRA - Dividend Comparison

IMST's dividend yield for the trailing twelve months is around 256.65%, more than IMRA's 219.65% yield.

	TTM	2025
IMST Bitwise Funds Trust	256.65%	195.93%
IMRA Bitwise MARA Option Income Strategy ETF	219.65%	188.74%

Drawdowns

IMST vs. IMRA - Drawdown Comparison

The maximum IMST drawdown since its inception was -69.86%, which is greater than IMRA's maximum drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for IMST and IMRA.

Drawdown Indicators

	IMST	IMRA	Difference
Max Drawdown Largest peak-to-trough decline	-69.86%	-61.55%	-8.31%
Current Drawdown Current decline from peak	-63.47%	-57.63%	-5.84%
Average Drawdown Average peak-to-trough decline	-31.01%	-24.95%	-6.06%

Volatility

Volatility by Period

	IMST	IMRA	Difference
Volatility (1Y) Calculated over the trailing 1-year period	61.92%	64.63%	-2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.92%	64.63%	-2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.92%	64.63%	-2.71%