AETH vs. MSBT
AETH (Bitwise Trendwise Ethereum and Treasuries Rotation Strategy ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. AETH is actively managed, while MSBT is passively managed. Their 0.48 correlation means their historical movements had little consistent relationship. AETH charges 0.89%/yr vs 0.14%/yr for MSBT.
Performance
AETH vs. MSBT - Performance Comparison
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Returns By Period
AETH
- 1D
- 0.17%
- 1M
- 4.00%
- 6M
- -13.15%
- YTD
- -15.81%
- 1Y
- -34.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.72%
MSBT
- 1D
- 1.61%
- 1M
- 3.98%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $27.84K | $19.14K | $18.72K | |
| $7.53M | $6.67M | $10.52M |
AETH vs. MSBT - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
AETH Bitwise Trendwise Ethereum and Treasuries Rotation Strategy ETF | -10.93% |
MSBT Morgan Stanley Bitcoin Trust | -11.97% |
Correlation
The correlation between AETH and MSBT is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026 | 0.48 |
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Return for Risk
AETH vs. MSBT — Risk / Return Rank
AETH
MSBT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
AETH vs. MSBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Trendwise Ethereum and Treasuries Rotation Strategy ETF (AETH) and Morgan Stanley Bitcoin Trust (MSBT). 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.
| AETH | MSBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.82 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | — | — |
| Martin ratioReturn relative to average drawdown | -0.96 | — | — |
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Drawdowns
AETH vs. MSBT - Drawdown Comparison
The maximum AETH drawdown since its inception was -51.08%, which is greater than MSBT's maximum drawdown of -28.33%. Use the drawdown chart below to compare losses from any high point for AETH and MSBT.
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Drawdown Indicators
| AETH | MSBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.08% | -28.33% | -22.75% |
Max Drawdown (1Y)Largest decline over 1 year | -51.08% | — | — |
Current DrawdownCurrent decline from peak | -47.60% | -22.12% | -25.48% |
Average DrawdownAverage peak-to-trough decline | -25.96% | -13.52% | -12.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.10% | — | — |
Volatility
AETH vs. MSBT - Volatility Comparison
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Volatility by Period
| AETH | MSBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.22% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 24.81% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 41.17% | 35.38% | +5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.64% | 35.38% | +18.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.64% | 35.38% | +18.26% |
AETH vs. MSBT - Expense Ratio Comparison
AETH has a 0.89% expense ratio, which is higher than MSBT's 0.14% expense ratio.
Dividends
AETH vs. MSBT - Dividend Comparison
AETH's dividend yield for the trailing twelve months is around 2.86%, while MSBT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AETH Bitwise Trendwise Ethereum and Treasuries Rotation Strategy ETF | 2.86% | 2.41% | 14.73% | 6.64% |
MSBT Morgan Stanley Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AETH and MSBT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MSBT is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSBT is cheaper with a 0.14% expense ratio, compared with 0.89% for AETH.
AETH has the higher dividend yield at 2.86%, compared with 0.00% for MSBT.
They also come from different issuers: Bitwise and Morgan Stanley. Their fees differ too: 0.89% for AETH and 0.14% for MSBT.
Find the right allocation for AETH and MSBT
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