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IAI vs. MSTR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAI vs. MSTR

Last updated Jun 13, 2026

IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) is Financials Equities fund tracking the DJ US Select / Investment Services, while MSTR (Strategy Inc) is a stock. Over the past 10 years, IAI returned 19.37%/yr vs 20.92%/yr for MSTR. At a 0.46 correlation, their price movements are largely independent.

Performance

IAI vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and Strategy Inc (MSTR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAI achieves a 3.17% return, which is significantly higher than MSTR's -18.41% return. Over the past 10 years, IAI has underperformed MSTR with an annualized return of 19.37%, while MSTR has yielded a comparatively higher 20.92% annualized return.

IAI

1D
1.83%
1M
3.22%
YTD
3.17%
6M
2.78%
1Y
19.26%
3Y*
28.06%
5Y*
14.44%
10Y*
19.37%

MSTR

1D
3.18%
1M
-30.37%
YTD
-18.41%
6M
-29.74%
1Y
-67.36%
3Y*
63.46%
5Y*
19.14%
10Y*
20.92%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAI vs. MSTR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAI
iShares U.S. Broker-Dealers & Securities Exchanges ETF		3.17%25.80%34.37%15.27%-10.87%40.48%18.61%24.26%-9.47%28.86%
MSTR
Strategy Inc		-18.41%-47.53%358.54%346.15%-74.00%40.13%172.42%11.65%-2.70%-33.49%

Correlation

The correlation between IAI and MSTR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.47

Correlation (10Y)
Calculated over the trailing 10-year period

0.44

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.46

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Broker-Dealers & Securities Exchanges ETF

Strategy Inc

Often compared with IAI:
IAI vs. KCEIAI vs. XLFIAI vs. SPYIAI vs. QQQIAI vs. KIEIAI vs. FASIAI vs. FXO
Often compared with MSTR:
MSTR vs. BTC-USDMSTR vs. MSTYMSTR vs. TSLAMSTR vs. COINMSTR vs. MSTUMSTR vs. MARAMSTR vs. STRC

Return for Risk

IAI vs. MSTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAI
IAI Risk / Return Rank: 2929
Overall Rank
IAI Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
IAI Sortino Ratio Rank: 3030
Sortino Ratio Rank
IAI Omega Ratio Rank: 2929
Omega Ratio Rank
IAI Calmar Ratio Rank: 2727
Calmar Ratio Rank
IAI Martin Ratio Rank: 2727
Martin Ratio Rank
MSTR
MSTR Risk / Return Rank: 88
Overall Rank
MSTR Sharpe Ratio Rank: 66
Sharpe Ratio Rank
MSTR Sortino Ratio Rank: 44
Sortino Ratio Rank
MSTR Omega Ratio Rank: 77
Omega Ratio Rank
MSTR Calmar Ratio Rank: 88
Calmar Ratio Rank
MSTR Martin Ratio Rank: 1313
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IAI vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and Strategy Inc (MSTR). 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.

IAIMSTRDifference
Sharpe ratioReturn per unit of total volatility
1.00
-0.95

+1.94

Sortino ratioReturn per unit of downside risk
1.43
-1.71

+3.14

Omega ratioGain probability vs. loss probability

1.18

0.82

+0.36

Calmar ratioReturn relative to maximum drawdown

1.17

-0.88

+2.05

Martin ratioReturn relative to average drawdown

3.33

-1.27

+4.60

IAI vs. MSTR - Sharpe Ratio Comparison

The current IAI Sharpe Ratio is 1.00, which is higher than the MSTR Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of IAI and MSTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IAI vs. MSTR - Drawdown Comparison

The maximum IAI drawdown since its inception was -75.46%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for IAI and MSTR.

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Drawdown Indicators

IAIMSTRDifference

Max Drawdown

Largest peak-to-trough decline

-75.46%

-99.86%

+24.40%

Max Drawdown (1Y)

Largest decline over 1 year

-16.52%

-76.53%

+60.01%

Max Drawdown (3Y)

Largest decline over 3 years

-23.14%

-77.42%

+54.28%

Max Drawdown (5Y)

Largest decline over 5 years

-28.84%

-84.11%

+55.27%

Max Drawdown (10Y)

Largest decline over 10 years

-40.38%

-89.27%

+48.89%

Current Drawdown

Current decline from peak

-2.81%

-73.84%

+71.03%

Average Drawdown

Average peak-to-trough decline

-22.63%

-86.45%

+63.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.80%

53.01%

-47.21%

Volatility

IAI vs. MSTR - Volatility Comparison

The current volatility for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) is 5.98%, while Strategy Inc (MSTR) has a volatility of 21.60%. This indicates that IAI experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAIMSTRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.98%

21.60%

-15.62%

Volatility (6M)

Calculated over the trailing 6-month period

15.34%

57.34%

-42.00%

Volatility (1Y)

Calculated over the trailing 1-year period

19.44%

71.15%

-51.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.48%

90.79%

-69.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.85%

73.80%

-50.95%

Dividends

IAI vs. MSTR - Dividend Comparison

IAI's dividend yield for the trailing twelve months is around 1.05%, while MSTR has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IAI
iShares U.S. Broker-Dealers & Securities Exchanges ETF		1.05%0.95%1.05%1.80%2.14%1.31%1.55%1.52%1.58%1.37%1.49%1.31%
MSTR
Strategy Inc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IAI and MSTR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MSTR has higher volatility (21.60%) compared to IAI (5.98%). In terms of maximum drawdown, IAI dropped -75.46% vs MSTR's -99.86%.

IAI currently has the higher Sharpe Ratio (1.00 vs -0.95), 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.

Portfolio Optimizer

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