CRPT vs. MSTRX

Last updated Jun 26, 2026

CRPT (First Trust SkyBridge Crypto Industry & Digital Economy ETF) and MSTRX (Morningstar Total Return Bond Fund) are both funds - CRPT is a Technology Equities fund actively managed by First Trust, while MSTRX is a Intermediate Core Bond fund managed by Morningstar. Over the past 3 years, CRPT returned 29.08%/yr vs 3.15%/yr for MSTRX. At a 0.11 correlation, their price movements are largely independent. CRPT charges 0.85%/yr vs 0.55%/yr for MSTRX.

Performance

CRPT vs. MSTRX - 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 Morningstar Total Return Bond Fund (MSTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRPT achieves a -23.98% return, which is significantly lower than MSTRX's 0.19% return.

CRPT

• 1D: -4.12%
• 1M: -21.36%
• YTD: -23.98%
• 6M: -28.82%
• 1Y: -48.39%
• 3Y*: 29.08%
• 5Y*: —
• 10Y*: —

MSTRX

• 1D: 0.45%
• 1M: 0.73%
• YTD: 0.19%
• 6M: 0.28%
• 1Y: 2.61%
• 3Y*: 3.15%
• 5Y*: -0.83%
• 10Y*: —

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

CRPT vs. MSTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CRPT First Trust SkyBridge Crypto Industry & Digital Economy ETF	-23.98%	-9.54%	75.29%	193.86%	-80.84%	-9.59%
MSTRX Morningstar Total Return Bond Fund	0.19%	4.87%	1.75%	5.54%	-15.53%	-1.13%

Correlation

The correlation between CRPT and MSTRX is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	0.11

Return for Risk

CRPT vs. MSTRX — Risk / Return Rank

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

CRPT

CRPT Risk / Return Rank: 3
CRPT Sharpe Ratio Rank: 3
CRPT Sortino Ratio Rank: 3
CRPT Omega Ratio Rank: 3
CRPT Calmar Ratio Rank: 2
CRPT Martin Ratio Rank: 2

MSTRX

MSTRX Risk / Return Rank: 14
MSTRX Sharpe Ratio Rank: 14
MSTRX Sortino Ratio Rank: 14
MSTRX Omega Ratio Rank: 13
MSTRX Calmar Ratio Rank: 15
MSTRX 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. MSTRX - 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 Morningstar Total Return Bond Fund (MSTRX). 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.

	CRPT	MSTRX	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	0.82	-1.65
Sortino ratio: Return per unit of downside risk	-1.16	1.22	-2.38
Omega ratio: Gain probability vs. loss probability	0.87	1.15	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.86	1.10	-1.96
Martin ratio: Return relative to average drawdown	-1.42	2.83	-4.25

CRPT vs. MSTRX - Sharpe Ratio Comparison

The current CRPT Sharpe Ratio is -0.83, which is lower than the MSTRX Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of CRPT and MSTRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CRPT vs. MSTRX - Drawdown Comparison

The maximum CRPT drawdown since its inception was -88.34%, which is greater than MSTRX's maximum drawdown of -20.97%. Use the drawdown chart below to compare losses from any high point for CRPT and MSTRX.

Drawdown Indicators

	CRPT	MSTRX	Difference
Max Drawdown Largest peak-to-trough decline	-88.34%	-20.97%	-67.37%
Max Drawdown (1Y) Largest decline over 1 year	-56.46%	-3.06%	-53.40%
Max Drawdown (3Y) Largest decline over 3 years	-56.46%	-6.67%	-49.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.77%	—
Current Drawdown Current decline from peak	-55.88%	-6.18%	-49.70%
Average Drawdown Average peak-to-trough decline	-52.56%	-7.11%	-45.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.19%	1.15%	+33.04%

Volatility

CRPT vs. MSTRX - Volatility Comparison

First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) has a higher volatility of 19.31% compared to Morningstar Total Return Bond Fund (MSTRX) at 1.19%. This indicates that CRPT's price experiences larger fluctuations and is considered to be riskier than MSTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRPT	MSTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.31%	1.19%	+18.12%
Volatility (6M) Calculated over the trailing 6-month period	47.13%	2.84%	+44.29%
Volatility (1Y) Calculated over the trailing 1-year period	58.61%	4.14%	+54.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.71%	6.26%	+66.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.71%	5.65%	+67.06%

CRPT vs. MSTRX - Expense Ratio Comparison

CRPT has a 0.85% expense ratio, which is higher than MSTRX's 0.55% expense ratio.

Dividends

CRPT vs. MSTRX - Dividend Comparison

CRPT's dividend yield for the trailing twelve months is around 0.99%, less than MSTRX's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CRPT First Trust SkyBridge Crypto Industry & Digital Economy ETF	0.99%	0.75%	1.84%	0.00%	0.03%	1.16%	0.00%	0.00%	0.00%
MSTRX Morningstar Total Return Bond Fund	2.59%	2.60%	4.02%	3.42%	2.50%	2.13%	4.93%	5.23%	0.29%

Frequently Asked Questions

Can I hold both CRPT and MSTRX in my portfolio?

CRPT and MSTRX have a correlation of 0.10, 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 MSTRX?

CRPT has higher volatility (19.31%) compared to MSTRX (1.19%). In terms of maximum drawdown, CRPT dropped -88.34% vs MSTRX's -20.97%.

Which has better risk-adjusted returns?

MSTRX currently has the higher Sharpe Ratio (0.82 vs -0.83), 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.