IMST vs. QQA
IMST (Bitwise Funds Trust) and QQA (Invesco QQQ Income Advantage ETF) are both Derivative Income funds. Both are actively managed. Over the past year, IMST returned -72.86% vs 22.56% for QQA. At a 0.46 correlation, their price movements are largely independent. IMST charges 0.99%/yr vs 0.29%/yr for QQA.
Performance
IMST vs. QQA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IMST achieves a -30.70% return, which is significantly lower than QQA's 11.27% return.
IMST
- 1D
- -3.09%
- 1M
- -18.22%
- 6M
- -39.07%
- YTD
- -30.70%
- 1Y
- -72.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQA
- 1D
- -1.39%
- 1M
- -1.73%
- 6M
- 10.08%
- YTD
- 11.27%
- 1Y
- 22.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IMST vs. QQA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IMST Bitwise Funds Trust | -30.70% | -46.36% |
QQA Invesco QQQ Income Advantage ETF | 11.27% | 23.43% |
Correlation
The correlation between IMST and QQA is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | 0.46 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IMST vs. QQA — Risk / Return Rank
IMST
QQA
IMST vs. QQA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and Invesco QQQ Income Advantage ETF (QQA). 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 | QQA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.76 | ||
| Sortino ratioReturn per unit of downside risk | -4.64 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 1.28 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 2.59 | -3.55 |
| Martin ratioReturn relative to average drawdown | -1.40 | 10.72 | -12.11 |
Loading charts...
Drawdowns
IMST vs. QQA - Drawdown Comparison
The maximum IMST drawdown since its inception was -75.63%, which is greater than QQA's maximum drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for IMST and QQA.
Loading charts...
Drawdown Indicators
| IMST | QQA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.63% | -19.73% | -55.90% |
Max Drawdown (1Y)Largest decline over 1 year | -75.63% | -8.76% | -66.87% |
Current DrawdownCurrent decline from peak | -72.89% | -3.08% | -69.81% |
Average DrawdownAverage peak-to-trough decline | -38.38% | -2.51% | -35.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 52.09% | 2.11% | +49.98% |
Volatility
IMST vs. QQA - Volatility Comparison
Bitwise Funds Trust (IMST) has a higher volatility of 21.06% compared to Invesco QQQ Income Advantage ETF (QQA) at 5.72%. This indicates that IMST's price experiences larger fluctuations and is considered to be riskier than QQA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IMST | QQA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.06% | 5.72% | +15.34% |
Volatility (6M)Calculated over the trailing 6-month period | 46.83% | 12.09% | +34.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.34% | 14.59% | +45.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.74% | 18.60% | +42.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.74% | 18.60% | +42.14% |
IMST vs. QQA - Expense Ratio Comparison
IMST has a 0.99% expense ratio, which is higher than QQA's 0.29% expense ratio.
Dividends
IMST vs. QQA - Dividend Comparison
IMST's dividend yield for the trailing twelve months is around 250.07%, more than QQA's 9.79% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IMST Bitwise Funds Trust | 250.07% | 195.93% | 0.00% |
QQA Invesco QQQ Income Advantage ETF | 9.79% | 9.78% | 4.29% |
Frequently Asked Questions
IMST and QQA have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMST has higher volatility (21.06%) compared to QQA (5.72%). In terms of maximum drawdown, IMST dropped -75.63% vs QQA's -19.73%.
On 1-year performance, QQA leads with 22.56% vs -72.86% for IMST. On fees, QQA is cheaper at 0.29% per year. On volatility, QQA has been the lower-risk option at 5.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QQA has performed better with a 22.56% return vs -72.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQA is cheaper with a 0.29% expense ratio, compared with 0.99% for IMST.
IMST has the higher dividend yield at 250.07%, compared with 9.79% for QQA.
They also come from different issuers: Bitwise and Invesco. Their fees differ too: 0.99% for IMST and 0.29% for QQA.
QQA currently has the higher Sharpe Ratio (1.55 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.
Find the right allocation for IMST and QQA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer