DECO vs. MSDD

Last updated Jun 25, 2026

DECO (State Street Galaxy Digital Asset Ecosystem ETF) and MSDD (GraniteShares 2x Short MSTR Daily ETF) are both exchange-traded funds - DECO is a Blockchain fund actively managed by State Street, while MSDD is a Inverse Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, DECO returned 146.58% vs 77.74% for MSDD. At a correlation of -0.62, they often move in opposite directions. DECO charges 0.65%/yr vs 1.50%/yr for MSDD.

Performance

DECO vs. MSDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Galaxy Digital Asset Ecosystem ETF (DECO) and GraniteShares 2x Short MSTR Daily ETF (MSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DECO achieves a 74.25% return, which is significantly higher than MSDD's -48.72% return.

DECO

• 1D: -2.84%
• 1M: 11.41%
• YTD: 74.25%
• 6M: 65.42%
• 1Y: 146.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSDD

• 1D: 0.00%
• 1M: 44.94%
• YTD: -48.72%
• 6M: -44.83%
• 1Y: 77.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DECO vs. MSDD - Yearly Performance Comparison

	2026 (YTD)	2025
DECO State Street Galaxy Digital Asset Ecosystem ETF	74.25%	40.56%
MSDD GraniteShares 2x Short MSTR Daily ETF	-48.72%	274.52%

Correlation

The correlation between DECO and MSDD is -0.63, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.63
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	-0.62

The correlation between DECO and MSDD has been stable across timeframes, ranging from -0.63 to -0.62 - a consistent structural relationship.

DECO vs. MSDD - Sectors Allocation Comparison

Sectors	DECO	MSDD
Technology	55.3%	200.1%
Financial Services	39.5%	-
Industrials	5.2%	-
Basic Materials	1.8%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DECO vs. MSDD — Risk / Return Rank

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

DECO

DECO Risk / Return Rank: 90
DECO Sharpe Ratio Rank: 95
DECO Sortino Ratio Rank: 89
DECO Omega Ratio Rank: 85
DECO Calmar Ratio Rank: 93
DECO Martin Ratio Rank: 86

MSDD

MSDD Risk / Return Rank: 26
MSDD Sharpe Ratio Rank: 18
MSDD Sortino Ratio Rank: 34
MSDD Omega Ratio Rank: 36
MSDD Calmar Ratio Rank: 22
MSDD Martin Ratio Rank: 18

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.

DECO vs. MSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Galaxy Digital Asset Ecosystem ETF (DECO) and GraniteShares 2x Short MSTR Daily ETF (MSDD). 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.

	DECO	MSDD	Difference
Sharpe ratio: Return per unit of total volatility	3.30	0.55	+2.75
Sortino ratio: Return per unit of downside risk	3.55	1.66	+1.89
Omega ratio: Gain probability vs. loss probability	1.45	1.22	+0.23
Calmar ratio: Return relative to maximum drawdown	5.76	0.92	+4.84
Martin ratio: Return relative to average drawdown	16.03	1.81	+14.22

DECO vs. MSDD - Sharpe Ratio Comparison

The current DECO Sharpe Ratio is 3.30, which is higher than the MSDD Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of DECO and MSDD, 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

DECO vs. MSDD - Drawdown Comparison

The maximum DECO drawdown since its inception was -47.71%, smaller than the maximum MSDD drawdown of -84.91%. Use the drawdown chart below to compare losses from any high point for DECO and MSDD.

Drawdown Indicators

	DECO	MSDD	Difference
Max Drawdown Largest peak-to-trough decline	-47.71%	-84.91%	+37.20%
Max Drawdown (1Y) Largest decline over 1 year	-25.60%	-84.91%	+59.31%
Current Drawdown Current decline from peak	-4.54%	-68.63%	+64.09%
Average Drawdown Average peak-to-trough decline	-11.40%	-31.40%	+20.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.18%	43.10%	-33.92%

Volatility

DECO vs. MSDD - Volatility Comparison

The current volatility for State Street Galaxy Digital Asset Ecosystem ETF (DECO) is 12.99%, while GraniteShares 2x Short MSTR Daily ETF (MSDD) has a volatility of 32.11%. This indicates that DECO experiences smaller price fluctuations and is considered to be less risky than MSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DECO	MSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.99%	32.11%	-19.12%
Volatility (6M) Calculated over the trailing 6-month period	33.79%	124.37%	-90.58%
Volatility (1Y) Calculated over the trailing 1-year period	44.95%	140.94%	-95.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.31%	138.59%	-87.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.31%	138.59%	-87.28%

DECO vs. MSDD - Expense Ratio Comparison

DECO has a 0.65% expense ratio, which is lower than MSDD's 1.50% expense ratio.

Dividends

DECO vs. MSDD - Dividend Comparison

DECO's dividend yield for the trailing twelve months is around 0.66%, while MSDD has not paid dividends to shareholders.

Position	TTM	2025	2024
DECO State Street Galaxy Digital Asset Ecosystem ETF	0.66%	1.16%	1.73%
MSDD GraniteShares 2x Short MSTR Daily ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DECO and MSDD in my portfolio?

DECO and MSDD have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DECO or MSDD?

MSDD has higher volatility (32.11%) compared to DECO (12.99%). In terms of maximum drawdown, DECO dropped -47.71% vs MSDD's -84.91%.

Which ETF is better, DECO or MSDD?

On 1-year performance, DECO leads with 146.58% vs 77.74% for MSDD. On fees, DECO is cheaper at 0.65% per year. On volatility, DECO has been the lower-risk option at 12.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DECO or MSDD?

Over the 1-year period, DECO has performed better with a 146.58% return vs 77.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECO or MSDD?

DECO is cheaper with a 0.65% expense ratio, compared with 1.50% for MSDD.

Which ETF pays a higher dividend yield, DECO or MSDD?

DECO has the higher dividend yield at 0.66%, compared with 0.00% for MSDD.

What is the main difference between DECO and MSDD?

DECO is categorized as Blockchain, while MSDD is Inverse Equities. They also come from different issuers: State Street and GraniteShares. Their fees differ too: 0.65% for DECO and 1.50% for MSDD.

Which has better risk-adjusted returns?

DECO currently has the higher Sharpe Ratio (3.30 vs 0.55), 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.