CRPT vs. MSTR

Last updated Jun 5, 2026

CRPT (First Trust SkyBridge Crypto Industry & Digital Economy ETF) is Technology Equities fund actively managed by First Trust, while MSTR (Strategy Inc) is a stock. Over the past 3 years, CRPT returned 39.51%/yr vs 67.28%/yr for MSTR. Their correlation of 0.84 suggests significant overlap in exposure.

Performance

CRPT vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) and Strategy Inc (MSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRPT achieves a -12.33% return, which is significantly higher than MSTR's -14.86% return.

CRPT

• 1D: 0.23%
• 1M: -16.12%
• YTD: -12.33%
• 6M: -24.87%
• 1Y: -34.00%
• 3Y*: 39.51%
• 5Y*: —
• 10Y*: —

MSTR

• 1D: 2.23%
• 1M: -30.78%
• YTD: -14.86%
• 6M: -30.45%
• 1Y: -65.78%
• 3Y*: 67.28%
• 5Y*: 21.70%
• 10Y*: 20.85%

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

CRPT vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CRPT First Trust SkyBridge Crypto Industry & Digital Economy ETF	-12.33%	-9.54%	75.29%	193.86%	-80.84%	-8.07%
MSTR Strategy Inc	-14.86%	-47.53%	358.54%	346.15%	-74.00%	-6.29%

Correlation

The correlation between CRPT and MSTR is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.84

The correlation between CRPT and MSTR has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

Return for Risk

CRPT vs. MSTR — Risk / Return Rank

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

CRPT

CRPT Risk / Return Rank: 4
CRPT Sharpe Ratio Rank: 4
CRPT Sortino Ratio Rank: 4
CRPT Omega Ratio Rank: 4
CRPT Calmar Ratio Rank: 4
CRPT Martin Ratio Rank: 4

MSTR

MSTR Risk / Return Rank: 8
MSTR Sharpe Ratio Rank: 6
MSTR Sortino Ratio Rank: 4
MSTR Omega Ratio Rank: 7
MSTR Calmar Ratio Rank: 8
MSTR 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.

CRPT vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) 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.

	CRPT	MSTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	-0.94	+0.35
Sortino ratio: Return per unit of downside risk	-0.62	-1.66	+1.04
Omega ratio: Gain probability vs. loss probability	0.93	0.82	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.60	-0.86	+0.26
Martin ratio: Return relative to average drawdown	-1.06	-1.27	+0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRPT vs. MSTR - Sharpe Ratio Comparison

The current CRPT Sharpe Ratio is -0.59, which is higher than the MSTR Sharpe Ratio of -0.94. The chart below compares the historical Sharpe Ratios of CRPT and MSTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CRPT	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.59	-0.94	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	0.12	-0.22

Drawdowns

CRPT vs. MSTR - Drawdown Comparison

The maximum CRPT drawdown since its inception was -88.34%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for CRPT and MSTR.

Drawdown Indicators

	CRPT	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-88.34%	-99.86%	+11.52%
Max Drawdown (1Y) Largest decline over 1 year	-56.46%	-76.53%	+20.07%
Max Drawdown (3Y) Largest decline over 3 years	-56.46%	-77.42%	+20.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-84.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.27%	—
Current Drawdown Current decline from peak	-49.12%	-72.70%	+23.58%
Average Drawdown Average peak-to-trough decline	-52.64%	-86.48%	+33.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.26%	51.79%	-19.53%

Volatility

CRPT vs. MSTR - Volatility Comparison

The current volatility for First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) is 13.14%, while Strategy Inc (MSTR) has a volatility of 19.54%. This indicates that CRPT 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.

Volatility by Period

	CRPT	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.14%	19.54%	-6.40%
Volatility (6M) Calculated over the trailing 6-month period	45.70%	56.24%	-10.54%
Volatility (1Y) Calculated over the trailing 1-year period	57.39%	70.20%	-12.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.72%	90.80%	-18.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.72%	73.69%	-0.97%

Dividends

CRPT vs. MSTR - Dividend Comparison

CRPT's dividend yield for the trailing twelve months is around 0.86%, while MSTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
CRPT First Trust SkyBridge Crypto Industry & Digital Economy ETF	0.86%	0.75%	1.84%	0.00%	0.03%	1.16%
MSTR Strategy Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRPT and MSTR in my portfolio?

CRPT and MSTR have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRPT or MSTR?

MSTR has higher volatility (19.54%) compared to CRPT (13.14%). In terms of maximum drawdown, CRPT dropped -88.34% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

CRPT currently has the higher Sharpe Ratio (-0.59 vs -0.94), 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.