IMST vs. TSMY
IMST (Bitwise Funds Trust) and TSMY (YieldMax TSM Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, IMST returned -69.40% vs 79.40% for TSMY. At a 0.33 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.
Performance
IMST vs. TSMY - Performance Comparison
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Returns By Period
In the year-to-date period, IMST achieves a -30.37% return, which is significantly lower than TSMY's 37.92% return.
IMST
- 1D
- -7.10%
- 1M
- -31.88%
- YTD
- -30.37%
- 6M
- -32.59%
- 1Y
- -69.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSMY
- 1D
- 1.49%
- 1M
- 7.51%
- YTD
- 37.92%
- 6M
- 40.03%
- 1Y
- 79.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IMST vs. TSMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IMST Bitwise Funds Trust | -30.37% | -46.36% |
TSMY YieldMax TSM Option Income Strategy ETF | 37.92% | 60.91% |
Correlation
The correlation between IMST and TSMY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | 0.33 |
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Return for Risk
IMST vs. TSMY — Risk / Return Rank
IMST
TSMY
IMST vs. TSMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and YieldMax TSM Option Income Strategy ETF (TSMY). 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 | TSMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.76 | ||
| Sortino ratioReturn per unit of downside risk | -5.44 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.42 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 5.15 | -6.10 |
| Martin ratioReturn relative to average drawdown | -1.42 | 18.62 | -20.04 |
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Drawdowns
IMST vs. TSMY - Drawdown Comparison
The maximum IMST drawdown since its inception was -72.76%, which is greater than TSMY's maximum drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for IMST and TSMY.
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Drawdown Indicators
| IMST | TSMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.76% | -31.15% | -41.61% |
Max Drawdown (1Y)Largest decline over 1 year | -72.76% | -15.50% | -57.26% |
Current DrawdownCurrent decline from peak | -72.76% | -4.49% | -68.27% |
Average DrawdownAverage peak-to-trough decline | -36.69% | -5.44% | -31.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.95% | 4.28% | +44.67% |
Volatility
IMST vs. TSMY - Volatility Comparison
Bitwise Funds Trust (IMST) has a higher volatility of 18.38% compared to YieldMax TSM Option Income Strategy ETF (TSMY) at 13.62%. This indicates that IMST's price experiences larger fluctuations and is considered to be riskier than TSMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMST | TSMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.38% | 13.62% | +4.76% |
Volatility (6M)Calculated over the trailing 6-month period | 44.58% | 25.04% | +19.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.43% | 31.17% | +27.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.85% | 33.92% | +25.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.85% | 33.92% | +25.93% |
IMST vs. TSMY - Expense Ratio Comparison
Both IMST and TSMY have an expense ratio of 0.99%.
Dividends
IMST vs. TSMY - Dividend Comparison
IMST's dividend yield for the trailing twelve months is around 270.82%, more than TSMY's 50.28% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IMST Bitwise Funds Trust | 270.82% | 195.93% | 0.00% |
TSMY YieldMax TSM Option Income Strategy ETF | 50.28% | 56.76% | 13.71% |
Frequently Asked Questions
IMST and TSMY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMST has higher volatility (18.38%) compared to TSMY (13.62%). In terms of maximum drawdown, IMST dropped -72.76% vs TSMY's -31.15%.
On 1-year performance, TSMY leads with 79.40% vs -69.40% for IMST. Both ETFs have the same 0.99% expense ratio. On volatility, TSMY has been the lower-risk option at 13.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TSMY has performed better with a 79.40% return vs -69.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMST and TSMY have the same expense ratio: 0.99% per year.
IMST has the higher dividend yield at 270.82%, compared with 50.28% for TSMY.
They also come from different issuers: Bitwise and YieldMax.
TSMY currently has the higher Sharpe Ratio (2.57 vs -1.19), 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.
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