IBIT vs. MSTR
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while MSTR (Strategy Inc) is a stock. Over the past year, IBIT returned -39.67% vs -67.62% for MSTR. A 0.79 correlation means they provide meaningful diversification when combined.
Performance
IBIT vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.41% return, which is significantly lower than MSTR's -18.41% return.
IBIT
- 1D
- -0.03%
- 1M
- -19.59%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- 3.18%
- 1M
- -30.13%
- YTD
- -18.41%
- 6M
- -29.74%
- 1Y
- -67.62%
- 3Y*
- 63.46%
- 5Y*
- 19.14%
- 10Y*
- 20.92%
IBIT vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
MSTR Strategy Inc | -18.41% | -47.53% | 411.99% |
Correlation
The correlation between IBIT and MSTR is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.79 |
The correlation between IBIT and MSTR has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
IBIT vs. MSTR — Risk / Return Rank
IBIT
MSTR
IBIT vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.
| IBIT | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.82 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.88 | +0.10 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.27 | -0.10 |
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Drawdowns
IBIT vs. MSTR - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for IBIT and MSTR.
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Drawdown Indicators
| IBIT | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -99.86% | +47.75% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -76.53% | +24.42% |
Max Drawdown (3Y)Largest decline over 3 years | — | -77.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.27% | — |
Current DrawdownCurrent decline from peak | -49.45% | -73.84% | +24.39% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -86.45% | +69.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 53.01% | -23.37% |
Volatility
IBIT vs. MSTR - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 12.07%, while Strategy Inc (MSTR) has a volatility of 21.60%. This indicates that IBIT 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
| IBIT | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 21.60% | -9.53% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 57.34% | -22.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 71.15% | -27.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 90.79% | -40.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 73.80% | -23.54% |
Dividends
IBIT vs. MSTR - Dividend Comparison
Neither IBIT nor MSTR has paid dividends to shareholders.
Frequently Asked Questions
IBIT and MSTR have a correlation of 0.85, 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 IBIT (12.07%). In terms of maximum drawdown, IBIT dropped -52.11% vs MSTR's -99.86%.
IBIT currently has the higher Sharpe Ratio (-0.92 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.
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