BTCW vs. MSBT
BTCW (Wisdom Tree Bitcoin Fund) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. With a 1.00 correlation, they move nearly in lockstep. BTCW charges 0.30%/yr vs 0.14%/yr for MSBT.
Performance
BTCW vs. MSBT - Performance Comparison
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Returns By Period
BTCW
- 1D
- -2.62%
- 1M
- -18.38%
- YTD
- -25.39%
- 6M
- -29.81%
- 1Y
- -38.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSBT
- 1D
- -2.70%
- 1M
- -18.41%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCW vs. MSBT - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BTCW Wisdom Tree Bitcoin Fund | -8.43% |
MSBT Morgan Stanley Bitcoin Trust | -8.40% |
Correlation
The correlation between BTCW and MSBT is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026 | 1.00 |
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Return for Risk
BTCW vs. MSBT — Risk / Return Rank
BTCW
MSBT
BTCW vs. MSBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wisdom Tree Bitcoin Fund (BTCW) 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.
| BTCW | MSBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.86 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | — | — |
| Martin ratioReturn relative to average drawdown | -1.36 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTCW | MSBT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | -1.33 | +1.64 |
Drawdowns
BTCW vs. MSBT - Drawdown Comparison
The maximum BTCW drawdown since its inception was -49.29%, which is greater than MSBT's maximum drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for BTCW and MSBT.
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Drawdown Indicators
| BTCW | MSBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.29% | -20.25% | -29.04% |
Max Drawdown (1Y)Largest decline over 1 year | -49.29% | — | — |
Current DrawdownCurrent decline from peak | -47.99% | -20.25% | -27.74% |
Average DrawdownAverage peak-to-trough decline | -15.99% | -3.91% | -12.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.40% | — | — |
Volatility
BTCW vs. MSBT - Volatility Comparison
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Volatility by Period
| BTCW | MSBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 34.25% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 43.53% | 32.92% | +10.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.10% | 32.92% | +17.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.10% | 32.92% | +17.18% |
BTCW vs. MSBT - Expense Ratio Comparison
BTCW has a 0.30% expense ratio, which is higher than MSBT's 0.14% expense ratio.
Dividends
BTCW vs. MSBT - Dividend Comparison
Neither BTCW nor MSBT has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, BTCW and MSBT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.30% for BTCW.
BTCW and MSBT have nearly identical dividend yields, around 0.00%.
They also come from different issuers: WisdomTree and Morgan Stanley. Their fees differ too: 0.30% for BTCW and 0.14% for MSBT.
Find the right allocation for BTCW and MSBT
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