BFOC vs. MSBT

Last updated Jun 4, 2026

BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) and MSBT (Morgan Stanley Bitcoin Trust) are both exchange-traded funds - BFOC is a Defined Outcome fund actively managed by First Trust, while MSBT is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. BFOC is actively managed, while MSBT is passively managed. Their correlation of 0.83 suggests significant overlap in exposure. BFOC charges 0.90%/yr vs 0.14%/yr for MSBT.

Performance

BFOC vs. MSBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC) and Morgan Stanley Bitcoin Trust (MSBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BFOC

• 1D: -0.24%
• 1M: -2.82%
• YTD: -7.39%
• 6M: -9.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: -2.70%
• 1M: -18.41%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BFOC vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	-1.89%
MSBT Morgan Stanley Bitcoin Trust	-8.40%

Correlation

The correlation between BFOC and MSBT is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026	0.83

Return for Risk

BFOC vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BFOC	MSBT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.88	-1.33	-0.55

Drawdowns

BFOC vs. MSBT - Drawdown Comparison

The maximum BFOC drawdown since its inception was -18.20%, smaller than the maximum MSBT drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for BFOC and MSBT.

Drawdown Indicators

	BFOC	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-18.20%	-20.25%	+2.05%
Current Drawdown Current decline from peak	-18.20%	-20.25%	+2.05%
Average Drawdown Average peak-to-trough decline	-12.52%	-3.91%	-8.61%

Volatility

Volatility by Period

	BFOC	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	32.92%	-20.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.61%	32.92%	-20.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.61%	32.92%	-20.31%

BFOC vs. MSBT - Expense Ratio Comparison

BFOC has a 0.90% expense ratio, which is higher than MSBT's 0.14% expense ratio.

Dividends

BFOC vs. MSBT - Dividend Comparison

Neither BFOC nor MSBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BFOC and MSBT in my portfolio?

BFOC and MSBT have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BFOC or MSBT?

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.

Which ETF is cheaper, BFOC or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.90% for BFOC.

Which ETF pays a higher dividend yield, BFOC or MSBT?

BFOC and MSBT have nearly identical dividend yields, around 0.00%.

What is the main difference between BFOC and MSBT?

BFOC is categorized as Defined Outcome, while MSBT is Cryptocurrency. They also come from different issuers: First Trust and Morgan Stanley. Their fees differ too: 0.90% for BFOC and 0.14% for MSBT.