BTCI vs. MSTR
BTCI (NEOS Bitcoin High Income ETF) is Cryptocurrency fund actively managed by Neos, while MSTR (Strategy Inc) is a stock. Over the past year, BTCI returned -33.02% vs -70.39% for MSTR. A 0.79 correlation means they provide meaningful diversification when combined.
Performance
BTCI vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, BTCI achieves a -23.73% return, which is significantly higher than MSTR's -27.96% return.
BTCI
- 1D
- 2.44%
- 1M
- -14.38%
- YTD
- -23.73%
- 6M
- -24.54%
- 1Y
- -33.02%
- 3Y*
- —
- 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%
BTCI vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCI NEOS Bitcoin High Income ETF | -23.73% | -1.09% | 26.12% |
MSTR Strategy Inc | -27.96% | -47.53% | 49.22% |
Correlation
The correlation between BTCI and MSTR is 0.85, 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 | 0.85 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024 | 0.79 |
The correlation between BTCI and MSTR has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
BTCI vs. MSTR — Risk / Return Rank
BTCI
MSTR
BTCI vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Bitcoin High Income ETF (BTCI) 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.
| BTCI | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.80 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | -0.92 | +0.22 |
| Martin ratioReturn relative to average drawdown | -1.23 | -1.30 | +0.07 |
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Drawdowns
BTCI vs. MSTR - Drawdown Comparison
The maximum BTCI drawdown since its inception was -47.16%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for BTCI and MSTR.
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Drawdown Indicators
| BTCI | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.16% | -99.86% | +52.70% |
Max Drawdown (1Y)Largest decline over 1 year | -47.16% | -76.53% | +29.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -77.42% | — |
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 | -43.60% | -76.90% | +33.30% |
Average DrawdownAverage peak-to-trough decline | -15.98% | -86.45% | +70.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.85% | 54.03% | -27.18% |
Volatility
BTCI vs. MSTR - Volatility Comparison
The current volatility for NEOS Bitcoin High Income ETF (BTCI) is 12.42%, while Strategy Inc (MSTR) has a volatility of 21.83%. This indicates that BTCI 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
| BTCI | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.42% | 21.83% | -9.41% |
Volatility (6M)Calculated over the trailing 6-month period | 31.24% | 57.40% | -26.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.69% | 72.01% | -32.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.30% | 90.54% | -50.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.30% | 73.91% | -33.61% |
Dividends
BTCI vs. MSTR - Dividend Comparison
BTCI's dividend yield for the trailing twelve months is around 46.88%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCI NEOS Bitcoin High Income ETF | 46.88% | 36.46% | 6.76% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCI and MSTR have a correlation of 0.85, 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 BTCI (12.42%). In terms of maximum drawdown, BTCI dropped -47.16% vs MSTR's -99.86%.
BTCI currently has the higher Sharpe Ratio (-0.84 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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