BITX vs. MSOX

Last updated Jun 13, 2026

BITX (2x Bitcoin Strategy ETF) and MSOX (Advisorshares Msos 2x Daily ETF) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while MSOX is a Leveraged Equities fund actively managed by AdvisorShares. BITX is passively managed, while MSOX is actively managed. Over the past year, BITX returned -74.95% vs 36.25% for MSOX. At a 0.12 correlation, their price movements are largely independent. BITX charges 2.38%/yr vs 0.95%/yr for MSOX.

Performance

BITX vs. MSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 2x Bitcoin Strategy ETF (BITX) and Advisorshares Msos 2x Daily ETF (MSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITX achieves a -55.39% return, which is significantly lower than MSOX's -23.66% return.

BITX

• 1D: 0.08%
• 1M: -37.85%
• YTD: -55.39%
• 6M: -58.72%
• 1Y: -74.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSOX

• 1D: -7.32%
• 1M: 0.59%
• YTD: -23.66%
• 6M: -56.93%
• 1Y: 36.25%
• 3Y*: -61.73%
• 5Y*: —
• 10Y*: —

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

BITX vs. MSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BITX 2x Bitcoin Strategy ETF	-55.39%	-38.71%	163.41%	46.18%
MSOX Advisorshares Msos 2x Daily ETF	-23.66%	-51.20%	-87.32%	14.20%

Correlation

The correlation between BITX and MSOX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023	0.12

The correlation between BITX and MSOX shifts across timeframes, from 0.12 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BITX vs. MSOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITX

BITX Risk / Return Rank: 2
BITX Sharpe Ratio Rank: 3
BITX Sortino Ratio Rank: 1
BITX Omega Ratio Rank: 2
BITX Calmar Ratio Rank: 1
BITX Martin Ratio Rank: 2

MSOX

MSOX Risk / Return Rank: 25
MSOX Sharpe Ratio Rank: 12
MSOX Sortino Ratio Rank: 46
MSOX Omega Ratio Rank: 41
MSOX Calmar Ratio Rank: 15
MSOX Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITX vs. MSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and Advisorshares Msos 2x Daily ETF (MSOX). 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.

	BITX	MSOX	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	0.17	-1.02
Sortino ratio: Return per unit of downside risk	-1.53	2.05	-3.58
Omega ratio: Gain probability vs. loss probability	0.83	1.24	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.91	0.43	-1.34
Martin ratio: Return relative to average drawdown	-1.45	0.65	-2.10

BITX vs. MSOX - Sharpe Ratio Comparison

The current BITX Sharpe Ratio is -0.86, which is lower than the MSOX Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of BITX and MSOX, 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

BITX vs. MSOX - Drawdown Comparison

The maximum BITX drawdown since its inception was -82.16%, smaller than the maximum MSOX drawdown of -99.75%. Use the drawdown chart below to compare losses from any high point for BITX and MSOX.

Drawdown Indicators

	BITX	MSOX	Difference
Max Drawdown Largest peak-to-trough decline	-82.16%	-99.75%	+17.59%
Max Drawdown (1Y) Largest decline over 1 year	-82.16%	-84.89%	+2.73%
Max Drawdown (3Y) Largest decline over 3 years	—	-98.83%	—
Current Drawdown Current decline from peak	-80.28%	-99.50%	+19.22%
Average Drawdown Average peak-to-trough decline	-32.12%	-88.83%	+56.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.79%	56.03%	-4.24%

Volatility

BITX vs. MSOX - Volatility Comparison

The current volatility for 2x Bitcoin Strategy ETF (BITX) is 24.10%, while Advisorshares Msos 2x Daily ETF (MSOX) has a volatility of 46.66%. This indicates that BITX experiences smaller price fluctuations and is considered to be less risky than MSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITX	MSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.10%	46.66%	-22.56%
Volatility (6M) Calculated over the trailing 6-month period	69.17%	155.67%	-86.50%
Volatility (1Y) Calculated over the trailing 1-year period	87.50%	220.30%	-132.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	98.23%	168.37%	-70.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	98.23%	168.37%	-70.14%

BITX vs. MSOX - Expense Ratio Comparison

BITX has a 2.38% expense ratio, which is higher than MSOX's 0.95% expense ratio.

Dividends

BITX vs. MSOX - Dividend Comparison

BITX's dividend yield for the trailing twelve months is around 35.54%, while MSOX has not paid dividends to shareholders.

Position	TTM	2025	2024
BITX 2x Bitcoin Strategy ETF	35.54%	21.69%	10.70%
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITX and MSOX in my portfolio?

BITX and MSOX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITX or MSOX?

MSOX has higher volatility (46.66%) compared to BITX (24.10%). In terms of maximum drawdown, BITX dropped -82.16% vs MSOX's -99.75%.

Which ETF is better, BITX or MSOX?

On 1-year performance, MSOX leads with 36.25% vs -74.95% for BITX. On fees, MSOX is cheaper at 0.95% per year. On volatility, BITX has been the lower-risk option at 24.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITX or MSOX?

Over the 1-year period, MSOX has performed better with a 36.25% return vs -74.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITX or MSOX?

MSOX is cheaper with a 0.95% expense ratio, compared with 2.38% for BITX.

Which ETF pays a higher dividend yield, BITX or MSOX?

BITX has the higher dividend yield at 35.54%, compared with 0.00% for MSOX.

What is the main difference between BITX and MSOX?

BITX is categorized as Cryptocurrency, while MSOX is Leveraged Equities. They also come from different issuers: Volatility Shares and AdvisorShares. Their fees differ too: 2.38% for BITX and 0.95% for MSOX.

Which has better risk-adjusted returns?

MSOX currently has the higher Sharpe Ratio (0.17 vs -0.86), 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.