ESK vs. MSBT

Last updated Jun 4, 2026

ESK (REX-Osprey ETH + Staking ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. ESK is actively managed, while MSBT is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. ESK charges 0.75%/yr vs 0.14%/yr for MSBT.

Performance

ESK vs. MSBT - Performance Comparison

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

Returns By Period

ESK

• 1D: -6.26%
• 1M: -24.17%
• YTD: -39.23%
• 6M: -42.40%
• 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)

ESK vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
ESK REX-Osprey ETH + Staking ETF	-19.16%
MSBT Morgan Stanley Bitcoin Trust	-8.40%

Correlation

The correlation between ESK and MSBT is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026	0.92

Return for Risk

ESK vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX-Osprey ETH + Staking ETF (ESK) 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

	ESK	MSBT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.99	-1.33	+0.34

Drawdowns

ESK vs. MSBT - Drawdown Comparison

The maximum ESK drawdown since its inception was -61.14%, which is greater than MSBT's maximum drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for ESK and MSBT.

Drawdown Indicators

	ESK	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-61.14%	-20.25%	-40.89%
Current Drawdown Current decline from peak	-61.14%	-20.25%	-40.89%
Average Drawdown Average peak-to-trough decline	-40.19%	-3.91%	-36.28%

Volatility

Volatility by Period

	ESK	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	67.24%	32.92%	+34.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.24%	32.92%	+34.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.24%	32.92%	+34.32%

ESK vs. MSBT - Expense Ratio Comparison

ESK has a 0.75% expense ratio, which is higher than MSBT's 0.14% expense ratio.

Dividends

ESK vs. MSBT - Dividend Comparison

ESK's dividend yield for the trailing twelve months is around 0.97%, while MSBT has not paid dividends to shareholders.

Position	TTM	2025
ESK REX-Osprey ETH + Staking ETF	0.97%	0.30%
MSBT Morgan Stanley Bitcoin Trust	0.00%	0.00%

Frequently Asked Questions

Can I hold both ESK and MSBT in my portfolio?

With a correlation of 0.92, ESK and MSBT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, ESK 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, ESK or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.75% for ESK.

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

ESK has the higher dividend yield at 0.97%, compared with 0.00% for MSBT.

What is the main difference between ESK and MSBT?

They also come from different issuers: REX Shares and Morgan Stanley. Their fees differ too: 0.75% for ESK and 0.14% for MSBT.