BTCFX vs. MSTR
BTCFX (Bitcoin ProFund Investor) is Cryptocurrency fund managed by ProFunds, while MSTR (Strategy Inc) is a stock. Over the past 3 years, BTCFX returned 24.11%/yr vs 49.27%/yr for MSTR. A 0.78 correlation means they provide meaningful diversification when combined.
Performance
BTCFX vs. MSTR - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BTCFX having a -29.29% return and MSTR slightly higher at -27.96%.
BTCFX
- 1D
- -2.05%
- 1M
- -17.14%
- YTD
- -29.29%
- 6M
- -30.05%
- 1Y
- -42.02%
- 3Y*
- 24.11%
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- -2.73%
- 1M
- -31.54%
- YTD
- -27.96%
- 6M
- -33.39%
- 1Y
- -70.39%
- 3Y*
- 49.27%
- 5Y*
- 14.63%
- 10Y*
- 20.25%
BTCFX vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCFX Bitcoin ProFund Investor | -29.29% | -11.83% | 102.93% | 133.31% | -64.04% | -3.69% |
MSTR Strategy Inc | -27.96% | -47.53% | 358.54% | 346.15% | -74.00% | -27.28% |
Correlation
The correlation between BTCFX and MSTR is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2021 | 0.78 |
The correlation between BTCFX and MSTR has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.
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Return for Risk
BTCFX vs. MSTR — Risk / Return Rank
BTCFX
MSTR
BTCFX vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin ProFund Investor (BTCFX) and Strategy Inc (MSTR). 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.
| BTCFX | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.80 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.92 | +0.13 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.30 | -0.05 |
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Drawdowns
BTCFX vs. MSTR - Drawdown Comparison
The maximum BTCFX drawdown since its inception was -77.89%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for BTCFX and MSTR.
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Drawdown Indicators
| BTCFX | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.89% | -99.86% | +21.97% |
Max Drawdown (1Y)Largest decline over 1 year | -53.40% | -76.53% | +23.13% |
Max Drawdown (3Y)Largest decline over 3 years | -53.40% | -77.42% | +24.02% |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.27% | — |
Current DrawdownCurrent decline from peak | -51.51% | -76.90% | +25.39% |
Average DrawdownAverage peak-to-trough decline | -36.06% | -86.45% | +50.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.21% | 54.03% | -22.82% |
Volatility
BTCFX vs. MSTR - Volatility Comparison
The current volatility for Bitcoin ProFund Investor (BTCFX) is 12.50%, while Strategy Inc (MSTR) has a volatility of 21.83%. This indicates that BTCFX experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCFX | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.50% | 21.83% | -9.33% |
Volatility (6M)Calculated over the trailing 6-month period | 34.51% | 57.40% | -22.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.31% | 72.01% | -27.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.33% | 90.54% | -35.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.33% | 73.91% | -18.58% |
Dividends
BTCFX vs. MSTR - Dividend Comparison
BTCFX's dividend yield for the trailing twelve months is around 39.57%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BTCFX Bitcoin ProFund Investor | 39.57% | 44.62% | 24.28% | 10.95% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCFX and MSTR have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (21.83%) compared to BTCFX (12.50%). In terms of maximum drawdown, BTCFX dropped -77.89% vs MSTR's -99.86%.
BTCFX currently has the higher Sharpe Ratio (-0.96 vs -0.98), 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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