IMST vs. QQQQ.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Bitwise Funds Trust (IMST) and Mackenzie NASDAQ 100 Index ETF (QQQQ.TO).

IMST and QQQQ.TO 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. QQQQ.TO is a passively managed fund by Mackenzie that tracks the performance of the NASDAQ-100 Index. It was launched on Aug 19, 2025.

Performance

IMST vs. QQQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Funds Trust (IMST) and Mackenzie NASDAQ 100 Index ETF (QQQQ.TO). The values are adjusted to include any dividend payments, if applicable.

IMST vs. QQQQ.TO - Yearly Performance Comparison

	2026 (YTD)	2025
IMST Bitwise Funds Trust	-6.63%	-52.34%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	-7.35%	8.46%

Different Trading Currencies

IMST is traded in USD, while QQQQ.TO is traded in CAD. To make them comparable, the QQQQ.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IMST achieves a -6.63% return, which is significantly higher than QQQQ.TO's -7.35% return.

IMST

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

QQQQ.TO

• 1D: 2.13%
• 1M: -5.65%
• YTD: -7.35%
• 6M: -4.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMST vs. QQQQ.TO - Expense Ratio Comparison

IMST has a 0.99% expense ratio, which is higher than QQQQ.TO's 0.25% expense ratio.

IMST

Bitwise Funds Trust

QQQQ.TO

Mackenzie NASDAQ 100 Index ETF

Return for Risk

IMST vs. QQQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and Mackenzie NASDAQ 100 Index ETF (QQQQ.TO). 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	QQQQ.TO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	0.06	-0.84

Correlation

The correlation between IMST and QQQQ.TO is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IMST vs. QQQQ.TO - Dividend Comparison

IMST's dividend yield for the trailing twelve months is around 256.65%, more than QQQQ.TO's 0.12% yield.

	TTM	2025
IMST Bitwise Funds Trust	256.65%	195.93%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	0.12%	0.11%

Drawdowns

IMST vs. QQQQ.TO - Drawdown Comparison

The maximum IMST drawdown since its inception was -69.86%, which is greater than QQQQ.TO's maximum drawdown of -11.59%. Use the drawdown chart below to compare losses from any high point for IMST and QQQQ.TO.

Drawdown Indicators

	IMST	QQQQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-69.86%	-11.95%	-57.91%
Current Drawdown Current decline from peak	-63.47%	-10.17%	-53.30%
Average Drawdown Average peak-to-trough decline	-31.01%	-3.94%	-27.07%

Volatility

Volatility by Period

	IMST	QQQQ.TO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	61.92%	17.07%	+44.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.92%	17.07%	+44.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.92%	17.07%	+44.85%