BTGD vs. MSTR
BTGD (STKd 100% Bitcoin & 100% Gold ETF) is Cryptocurrency fund actively managed by Quantify Funds, while MSTR (Strategy Inc) is a stock. Over the past year, BTGD returned -43.79% vs -74.56% for MSTR. Their 0.73 correlation means they have sometimes moved together and sometimes differently.
Performance
BTGD vs. MSTR - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BTGD having a -40.08% return and MSTR slightly higher at -38.61%.
BTGD
- 1D
- -4.20%
- 1M
- -0.71%
- 6M
- -43.67%
- YTD
- -40.08%
- 1Y
- -43.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.39%
MSTR
- 1D
- -4.56%
- 1M
- -7.43%
- 6M
- -37.69%
- YTD
- -38.61%
- 1Y
- -74.56%
- 3Y*
- 28.96%
- 5Y*
- 8.30%
- 10Y*
- 18.75%
- ALL TIME*
- 9.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $365.15K | $356.50K | $1.03M | |
MSTR Strategy Inc | $1.53B | $1.65B | $2.43B |
BTGD vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTGD STKd 100% Bitcoin & 100% Gold ETF | -40.08% | 34.62% | 29.32% |
MSTR Strategy Inc | -38.61% | -47.53% | 49.05% |
Correlation
The correlation between BTGD and MSTR is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2024 | 0.73 |
The correlation between BTGD and MSTR has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.
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Return for Risk
BTGD vs. MSTR — Risk / Return Rank
BTGD
MSTR
BTGD vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for STKd 100% Bitcoin & 100% Gold ETF (BTGD) 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.
| BTGD | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.78 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | -0.97 | +0.21 |
| Martin ratioReturn relative to average drawdown | -1.38 | -1.38 | 0.00 |
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Drawdowns
BTGD vs. MSTR - Drawdown Comparison
The maximum BTGD drawdown since its inception was -58.79%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for BTGD and MSTR.
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Drawdown Indicators
| BTGD | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.79% | -99.86% | +41.07% |
Max Drawdown (1Y)Largest decline over 1 year | -58.79% | -79.53% | +20.74% |
Max Drawdown (3Y)Largest decline over 3 years | — | -82.63% | — |
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 | -56.11% | -80.31% | +24.20% |
Average DrawdownAverage peak-to-trough decline | -18.11% | -86.42% | +68.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.37% | 55.64% | -23.27% |
Volatility
BTGD vs. MSTR - Volatility Comparison
The current volatility for STKd 100% Bitcoin & 100% Gold ETF (BTGD) is 14.17%, while Strategy Inc (MSTR) has a volatility of 18.58%. This indicates that BTGD 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
| BTGD | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.17% | 18.58% | -4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 47.63% | 60.57% | -12.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.18% | 75.24% | -17.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.76% | 89.94% | -34.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.76% | 74.33% | -18.57% |
Dividends
BTGD vs. MSTR - Dividend Comparison
BTGD's dividend yield for the trailing twelve months is around 5.61%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTGD STKd 100% Bitcoin & 100% Gold ETF | 5.61% | 3.36% | 0.19% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTGD and MSTR have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (18.58%) compared to BTGD (14.17%). In terms of maximum drawdown, BTGD dropped -58.79% vs MSTR's -99.86%.
BTGD currently has the higher Sharpe Ratio (-0.77 vs -1.02), 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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