IMST vs. SOXY

Last updated Aug 2, 2026

IMST (Bitwise Funds Trust) and SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, IMST returned -67.20% vs 93.60% for SOXY. Their 0.34 correlation means their historical movements had little consistent relationship. IMST charges 0.99%/yr vs 1.06%/yr for SOXY.

Performance

IMST vs. SOXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Funds Trust (IMST) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMST achieves a -30.61% return, which is significantly lower than SOXY's 58.34% return.

IMST

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

SOXY

• 1D: 0.60%
• 1M: -12.01%
• 6M: 42.45%
• YTD: 58.34%
• 1Y: 93.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 58.65%

*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
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	$2.13M	$2.44M	$2.09M

IMST vs. SOXY - Yearly Performance Comparison

	2026 (YTD)	2025
IMST Bitwise Funds Trust	-30.61%	-46.36%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	58.34%	51.94%

Correlation

The correlation between IMST and SOXY is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.34

Return for Risk

IMST vs. SOXY — 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

SOXY

SOXY Risk / Return Rank: 87
SOXY Sharpe Ratio Rank: 91
SOXY Sortino Ratio Rank: 83
SOXY Omega Ratio Rank: 85
SOXY Calmar Ratio Rank: 85
SOXY Martin Ratio Rank: 90

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. SOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). 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	SOXY	Difference
Sharpe ratio: Return per unit of total volatility	-1.17	2.30	-3.47
Sortino ratio: Return per unit of downside risk	-2.30	2.73	-5.03
Omega ratio: Gain probability vs. loss probability	0.75	1.37	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.96	3.21	-4.17
Martin ratio: Return relative to average drawdown	-1.40	14.50	-15.90

IMST vs. SOXY - Sharpe Ratio Comparison

The current IMST Sharpe Ratio is -1.17, which is lower than the SOXY Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of IMST and SOXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IMST vs. SOXY - Drawdown Comparison

The maximum IMST drawdown since its inception was -75.63%, which is greater than SOXY's maximum drawdown of -30.22%. Use the drawdown chart below to compare losses from any high point for IMST and SOXY.

Drawdown Indicators

	IMST	SOXY	Difference
Max Drawdown Largest peak-to-trough decline	-75.63%	-30.22%	-45.41%
Max Drawdown (1Y) Largest decline over 1 year	-72.94%	-28.56%	-44.38%
Current Drawdown Current decline from peak	-72.85%	-21.71%	-51.14%
Average Drawdown Average peak-to-trough decline	-39.52%	-5.49%	-34.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.26%	6.31%	+43.95%

Volatility

IMST vs. SOXY - Volatility Comparison

The current volatility for Bitwise Funds Trust (IMST) is 9.69%, while YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) has a volatility of 18.62%. This indicates that IMST experiences smaller price fluctuations and is considered to be less risky than SOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMST	SOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.69%	18.62%	-8.93%
Volatility (6M) Calculated over the trailing 6-month period	45.17%	35.73%	+9.44%
Volatility (1Y) Calculated over the trailing 1-year period	60.00%	39.94%	+20.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.75%	39.31%	+20.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.75%	39.31%	+20.44%

IMST vs. SOXY - Expense Ratio Comparison

IMST has a 0.99% expense ratio, which is lower than SOXY's 1.06% expense ratio.

Dividends

IMST vs. SOXY - Dividend Comparison

IMST's dividend yield for the trailing twelve months is around 209.43%, more than SOXY's 9.41% yield.

Position	TTM	2025
IMST Bitwise Funds Trust	209.43%	195.93%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	9.41%	11.47%

Frequently Asked Questions

Can I hold both IMST and SOXY in my portfolio?

IMST and SOXY have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMST or SOXY?

SOXY has higher volatility (18.62%) compared to IMST (9.69%). In terms of maximum drawdown, IMST dropped -75.63% vs SOXY's -30.22%.

Which ETF is better, IMST or SOXY?

On 1-year performance, SOXY leads with 93.60% vs -67.20% for IMST. On fees, IMST is cheaper at 0.99% per year. On volatility, IMST has been the lower-risk option at 9.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMST or SOXY?

Over the 1-year period, SOXY has performed better with a 93.60% return vs -67.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMST or SOXY?

IMST is cheaper with a 0.99% expense ratio, compared with 1.06% for SOXY.

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

IMST has the higher dividend yield at 209.43%, compared with 9.41% for SOXY.

What is the main difference between IMST and SOXY?

They also come from different issuers: Bitwise and YieldMax. Their fees differ too: 0.99% for IMST and 1.06% for SOXY.

Which has better risk-adjusted returns?

SOXY currently has the higher Sharpe Ratio (2.30 vs -1.17), 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.