ETHB vs. MSBT

Last updated Jun 4, 2026

ETHB (iShares Staked Ethereum Trust ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds - ETHB tracks the CME CF Ether Dollar Reference Rate - New York Variant while MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. ETHB charges 0.25%/yr vs 0.14%/yr for MSBT.

Performance

ETHB vs. MSBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Staked Ethereum Trust ETF (ETHB) and Morgan Stanley Bitcoin Trust (MSBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ETHB

• 1D: -5.62%
• 1M: -23.55%
• YTD: —
• 6M: —
• 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)

ETHB vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
ETHB iShares Staked Ethereum Trust ETF	-18.55%
MSBT Morgan Stanley Bitcoin Trust	-8.40%

Correlation

The correlation between ETHB and MSBT is 0.91, 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	0.91

Return for Risk

ETHB vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Staked Ethereum Trust ETF (ETHB) 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

	ETHB	MSBT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.98	-1.33	+0.35

Drawdowns

ETHB vs. MSBT - Drawdown Comparison

The maximum ETHB drawdown since its inception was -25.90%, which is greater than MSBT's maximum drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for ETHB and MSBT.

Drawdown Indicators

	ETHB	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-25.90%	-20.25%	-5.65%
Current Drawdown Current decline from peak	-25.90%	-20.25%	-5.65%
Average Drawdown Average peak-to-trough decline	-7.89%	-3.91%	-3.98%

Volatility

Volatility by Period

	ETHB	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	47.62%	32.92%	+14.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.62%	32.92%	+14.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.62%	32.92%	+14.70%

ETHB vs. MSBT - Expense Ratio Comparison

ETHB has a 0.25% expense ratio, which is higher than MSBT's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ETHB vs. MSBT - Dividend Comparison

Neither ETHB nor MSBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHB and MSBT in my portfolio?

With a correlation of 0.91, ETHB 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, ETHB 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, ETHB or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.25% for ETHB.

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

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

What is the main difference between ETHB and MSBT?

ETHB tracks CME CF Ether Dollar Reference Rate - New York Variant, while MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. They also come from different issuers: iShares and Morgan Stanley. Their fees differ too: 0.25% for ETHB and 0.14% for MSBT.