DOJE vs. MSBT

Last updated Jun 4, 2026

DOJE (REX-Osprey DOGE ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds - DOJE tracks the Dogecoin (DOGE) spot price while MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. Both are passively managed. A 0.68 correlation means they provide meaningful diversification when combined. DOJE charges 1.50%/yr vs 0.14%/yr for MSBT.

Performance

DOJE vs. MSBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX-Osprey DOGE ETF (DOJE) and Morgan Stanley Bitcoin Trust (MSBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DOJE

• 1D: -2.54%
• 1M: -17.62%
• YTD: -22.00%
• 6M: -39.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: -2.70%
• 1M: -18.41%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DOJE vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
DOJE REX-Osprey DOGE ETF	-2.07%
MSBT Morgan Stanley Bitcoin Trust	-8.40%

Correlation

The correlation between DOJE and MSBT is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026	0.68

Return for Risk

DOJE vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX-Osprey DOGE ETF (DOJE) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DOJE	MSBT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.02	-1.33	+0.32

Drawdowns

DOJE vs. MSBT - Drawdown Comparison

The maximum DOJE drawdown since its inception was -68.45%, which is greater than MSBT's maximum drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for DOJE and MSBT.

Drawdown Indicators

	DOJE	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-68.45%	-20.25%	-48.20%
Current Drawdown Current decline from peak	-67.73%	-20.25%	-47.48%
Average Drawdown Average peak-to-trough decline	-52.04%	-3.91%	-48.13%

Volatility

Volatility by Period

	DOJE	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	79.01%	32.92%	+46.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.01%	32.92%	+46.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.01%	32.92%	+46.09%

DOJE vs. MSBT - Expense Ratio Comparison

DOJE has a 1.50% expense ratio, which is higher than MSBT's 0.14% expense ratio.

Dividends

DOJE vs. MSBT - Dividend Comparison

Neither DOJE nor MSBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DOJE and MSBT in my portfolio?

DOJE and MSBT have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DOJE or MSBT?

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.

Which ETF is cheaper, DOJE or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 1.50% for DOJE.

Which ETF pays a higher dividend yield, DOJE or MSBT?

DOJE and MSBT have nearly identical dividend yields, around 0.00%.

What is the main difference between DOJE and MSBT?

DOJE tracks Dogecoin (DOGE) spot price, while MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. They also come from different issuers: REX-Osprey and Morgan Stanley. Their fees differ too: 1.50% for DOJE and 0.14% for MSBT.