FILG vs. MNRS
FILG (Grayscale Filecoin Trust (FIL)) and MNRS (Grayscale Bitcoin Miners ETF) are both exchange-traded funds - FILG is a Cryptocurrency fund actively managed by Grayscale, while MNRS is a Blockchain fund tracking the Indxx Bitcoin Miners Index. FILG is actively managed, while MNRS is passively managed. Over the past year, FILG returned -61.53% vs 78.52% for MNRS. At a 0.28 correlation, their price movements are largely independent.
Performance
FILG vs. MNRS - Performance Comparison
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Returns By Period
In the year-to-date period, FILG achieves a -29.82% return, which is significantly lower than MNRS's 42.42% return.
FILG
- 1D
- -1.07%
- 1M
- -20.40%
- YTD
- -29.82%
- 6M
- -31.77%
- 1Y
- -61.53%
- 3Y*
- -57.85%
- 5Y*
- —
- 10Y*
- —
MNRS
- 1D
- -2.93%
- 1M
- -13.85%
- YTD
- 42.42%
- 6M
- 38.53%
- 1Y
- 78.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FILG vs. MNRS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FILG Grayscale Filecoin Trust (FIL) | -29.82% | -93.19% |
MNRS Grayscale Bitcoin Miners ETF | 42.42% | 14.05% |
Correlation
The correlation between FILG and MNRS is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.28 |
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Return for Risk
FILG vs. MNRS — Risk / Return Rank
FILG
MNRS
FILG vs. MNRS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Filecoin Trust (FIL) (FILG) and Grayscale Bitcoin Miners ETF (MNRS). 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.
| FILG | MNRS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.21 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 1.39 | -2.19 |
| Martin ratioReturn relative to average drawdown | -1.12 | 2.70 | -3.82 |
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Drawdowns
FILG vs. MNRS - Drawdown Comparison
The maximum FILG drawdown since its inception was -99.69%, which is greater than MNRS's maximum drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for FILG and MNRS.
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Drawdown Indicators
| FILG | MNRS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.69% | -56.70% | -42.99% |
Max Drawdown (1Y)Largest decline over 1 year | -77.11% | -56.70% | -20.41% |
Max Drawdown (3Y)Largest decline over 3 years | -99.69% | — | — |
Current DrawdownCurrent decline from peak | -99.65% | -21.50% | -78.15% |
Average DrawdownAverage peak-to-trough decline | -69.02% | -23.31% | -45.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.98% | 29.22% | +25.76% |
Volatility
FILG vs. MNRS - Volatility Comparison
Grayscale Filecoin Trust (FIL) (FILG) has a higher volatility of 32.73% compared to Grayscale Bitcoin Miners ETF (MNRS) at 19.95%. This indicates that FILG's price experiences larger fluctuations and is considered to be riskier than MNRS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FILG | MNRS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.73% | 19.95% | +12.78% |
Volatility (6M)Calculated over the trailing 6-month period | 74.94% | 52.48% | +22.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 131.33% | 71.17% | +60.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 192.15% | 70.59% | +121.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 192.15% | 70.59% | +121.56% |
Dividends
FILG vs. MNRS - Dividend Comparison
FILG has not paid dividends to shareholders, while MNRS's dividend yield for the trailing twelve months is around 0.38%.
| Position | TTM | 2025 |
|---|---|---|
FILG Grayscale Filecoin Trust (FIL) | 0.00% | 0.00% |
MNRS Grayscale Bitcoin Miners ETF | 0.38% | 0.54% |
Frequently Asked Questions
FILG and MNRS have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FILG has higher volatility (32.73%) compared to MNRS (19.95%). In terms of maximum drawdown, FILG dropped -99.69% vs MNRS's -56.70%.
On 1-year performance, MNRS leads with 78.52% vs -61.53% for FILG. On volatility, MNRS has been the lower-risk option at 19.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MNRS has performed better with a 78.52% return vs -61.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MNRS has the higher dividend yield at 0.38%, compared with 0.00% for FILG.
FILG is categorized as Cryptocurrency, while MNRS is Blockchain.
MNRS currently has the higher Sharpe Ratio (1.11 vs -0.47), 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.
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