IMST vs. MSII

Last updated Aug 2, 2026

IMST (Bitwise Funds Trust) and MSII (REX MSTR Growth & Income ETF) are both exchange-traded funds - IMST is a Derivative Income fund actively managed by Bitwise, while MSII is a Leveraged Equities fund actively managed by REX. Both are actively managed. Their correlation of 0.91 means they have usually moved in the same direction. Both charge a 0.99% expense ratio.

Performance

IMST vs. MSII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Funds Trust (IMST) and REX MSTR Growth & Income ETF (MSII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IMST

• 1D: 0.56%
• 1M: -5.61%
• 6M: -31.75%
• YTD: -30.61%
• 1Y: -67.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -52.56%

MSII

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IMST Bitwise Funds Trust	$166.01K	$154.83K	$265.20K

IMST vs. MSII - Yearly Performance Comparison

	2026 (YTD)	2025
IMST Bitwise Funds Trust	-30.61%	-55.66%
MSII REX MSTR Growth & Income ETF	-28.10%	-61.03%

Correlation

The correlation between IMST and MSII is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.91

The correlation between IMST and MSII has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

IMST vs. MSII — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IMST

IMST Risk / Return Rank: 0
IMST Sharpe Ratio Rank: 0
IMST Sortino Ratio Rank: 0
IMST Omega Ratio Rank: 0
IMST Calmar Ratio Rank: 0
IMST Martin Ratio Rank: 1

MSII

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IMST vs. MSII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and REX MSTR Growth & Income ETF (MSII). 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	MSII	Difference
Sharpe ratio: Return per unit of total volatility	-1.17	—	—
Sortino ratio: Return per unit of downside risk	-2.30	—	—
Omega ratio: Gain probability vs. loss probability	0.75	—	—
Calmar ratio: Return relative to maximum drawdown	-0.96	—	—
Martin ratio: Return relative to average drawdown	-1.40	—	—

Drawdowns

Drawdown Indicators

	IMST	MSII	Difference
Max Drawdown Largest peak-to-trough decline	-75.63%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-72.94%	—	—
Current Drawdown Current decline from peak	-72.85%	—	—
Average Drawdown Average peak-to-trough decline	-39.52%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	50.26%	—	—

Volatility

Volatility by Period

	IMST	MSII	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.69%	—	—
Volatility (6M) Calculated over the trailing 6-month period	45.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	60.00%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.75%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.75%	—	—

IMST vs. MSII - Expense Ratio Comparison

Both IMST and MSII have an expense ratio of 0.99%.

Dividends

IMST vs. MSII - Dividend Comparison

IMST's dividend yield for the trailing twelve months is around 209.43%, while MSII has not paid dividends to shareholders.

Position	TTM	2025
IMST Bitwise Funds Trust	209.43%	195.93%
MSII REX MSTR Growth & Income ETF	60.40%	48.93%

Frequently Asked Questions

Can I hold both IMST and MSII in my portfolio?

With a correlation of 0.90, IMST and MSII move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IMST or MSII?

Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMST or MSII?

IMST and MSII have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, IMST or MSII?

IMST has the higher dividend yield at 209.43%, compared with 60.40% for MSII.

What is the main difference between IMST and MSII?

IMST is categorized as Derivative Income, while MSII is Leveraged Equities. They also come from different issuers: Bitwise and REX.