ETHB vs. MSBT

Last updated Jul 12, 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 0.88 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: 2.63%
• 1M: 6.67%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: 0.99%
• 1M: 0.55%
• 6M: —
• YTD: —
• 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	-14.98%
MSBT Morgan Stanley Bitcoin Trust	-11.97%

Correlation

The correlation between ETHB and MSBT is 0.88, 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 8, 2026	0.88

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.

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.

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

Drawdowns

ETHB vs. MSBT - Drawdown Comparison

The maximum ETHB drawdown since its inception was -35.92%, which is greater than MSBT's maximum drawdown of -28.33%. 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	-35.92%	-28.33%	-7.59%
Current Drawdown Current decline from peak	-26.18%	-22.12%	-4.06%
Average Drawdown Average peak-to-trough decline	-14.61%	-11.57%	-3.04%

Volatility

Volatility by Period

	ETHB	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	54.01%	36.83%	+17.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.01%	36.83%	+17.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.01%	36.83%	+17.18%

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

ETHB's dividend yield for the trailing twelve months is around 0.21%, while MSBT has not paid dividends to shareholders.

Position	TTM
ETHB iShares Staked Ethereum Trust ETF	0.21%
MSBT Morgan Stanley Bitcoin Trust	0.00%

Frequently Asked Questions

Can I hold both ETHB and MSBT in my portfolio?

ETHB and MSBT have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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 has the higher dividend yield at 0.21%, compared with 0.00% for MSBT.

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.