XRP vs. IMRA
XRP (Bitwise XRP ETF) and IMRA (Bitwise MARA Option Income Strategy ETF) are both exchange-traded funds - XRP is a Cryptocurrency fund actively managed by Bitwise, while IMRA is a Derivative Income fund actively managed by Bitwise. Both are actively managed. Their 0.58 correlation means they have sometimes moved together and sometimes differently. XRP charges 0.34%/yr vs 0.98%/yr for IMRA.
Performance
XRP vs. IMRA - Performance Comparison
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Returns By Period
In the year-to-date period, XRP achieves a -41.13% return, which is significantly lower than IMRA's 9.09% return.
XRP
- 1D
- 0.08%
- 1M
- -0.33%
- 6M
- -33.15%
- YTD
- -41.13%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
IMRA
- 1D
- 0.48%
- 1M
- -7.44%
- 6M
- 3.34%
- YTD
- 9.09%
- 1Y
- -38.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -22.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $41.82K | $40.21K | $63.26K | |
| $5.79M | $6.38M | $8.38M |
XRP vs. IMRA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XRP Bitwise XRP ETF | -41.13% | -15.03% |
IMRA Bitwise MARA Option Income Strategy ETF | 9.09% | -15.14% |
Correlation
The correlation between XRP and IMRA is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | 0.58 |
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Return for Risk
XRP vs. IMRA — Risk / Return Rank
XRP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IMRA
XRP vs. IMRA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise XRP ETF (XRP) and Bitwise MARA Option Income Strategy ETF (IMRA). 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.
| XRP | IMRA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.91 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.64 | — |
| Martin ratioReturn relative to average drawdown | — | -0.94 | — |
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Drawdowns
XRP vs. IMRA - Drawdown Comparison
The maximum XRP drawdown since its inception was -55.49%, smaller than the maximum IMRA drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for XRP and IMRA.
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Drawdown Indicators
| XRP | IMRA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -61.55% | +6.06% |
Max Drawdown (1Y)Largest decline over 1 year | — | -61.55% | — |
Current DrawdownCurrent decline from peak | -53.45% | -50.35% | -3.10% |
Average DrawdownAverage peak-to-trough decline | -35.02% | -30.22% | -4.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 41.38% | — |
Volatility
XRP vs. IMRA - Volatility Comparison
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Volatility by Period
| XRP | IMRA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.05% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 42.56% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 71.38% | 59.97% | +11.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.38% | 59.81% | +11.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.38% | 59.81% | +11.57% |
XRP vs. IMRA - Expense Ratio Comparison
XRP has a 0.34% expense ratio, which is lower than IMRA's 0.98% expense ratio.
Dividends
XRP vs. IMRA - Dividend Comparison
XRP has not paid dividends to shareholders, while IMRA's dividend yield for the trailing twelve months is around 92.02%.
| Position | TTM | 2025 |
|---|---|---|
IMRA Bitwise MARA Option Income Strategy ETF | 92.02% | 188.74% |
XRP Bitwise XRP ETF | 0.00% | 0.00% |
Frequently Asked Questions
XRP and IMRA have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XRP is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XRP is cheaper with a 0.34% expense ratio, compared with 0.98% for IMRA.
IMRA has the higher dividend yield at 92.02%, compared with 0.00% for XRP.
XRP is categorized as Cryptocurrency, while IMRA is Derivative Income. Their fees differ too: 0.34% for XRP and 0.98% for IMRA.
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