IBLC vs. MSBT

Last updated Jun 4, 2026

IBLC (iShares Blockchain and Tech ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds - IBLC tracks the ICE FactSet Global Blockchain Technologies Index while MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. Both are passively managed. A 0.64 correlation means they provide meaningful diversification when combined. IBLC charges 0.47%/yr vs 0.14%/yr for MSBT.

Performance

IBLC vs. MSBT - Performance Comparison

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

Returns By Period

IBLC

• 1D: -3.00%
• 1M: 13.52%
• YTD: 32.34%
• 6M: 15.25%
• 1Y: 73.27%
• 3Y*: 48.31%
• 5Y*: —
• 10Y*: —

MSBT

• 1D: -6.05%
• 1M: -14.36%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBLC vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
IBLC iShares Blockchain and Tech ETF	36.79%
MSBT Morgan Stanley Bitcoin Trust	-5.86%

Correlation

The correlation between IBLC and MSBT is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026	0.64

Return for Risk

IBLC vs. MSBT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBLC

IBLC Risk / Return Rank: 33
IBLC Sharpe Ratio Rank: 37
IBLC Sortino Ratio Rank: 36
IBLC Omega Ratio Rank: 33
IBLC Calmar Ratio Rank: 33
IBLC Martin Ratio Rank: 24

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.

IBLC vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Blockchain and Tech ETF (IBLC) 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.

	IBLC	MSBT	Difference
Sharpe ratio Return per unit of total volatility	1.34	—	—
Sortino ratio Return per unit of downside risk	1.92	—	—
Omega ratio Gain probability vs. loss probability	1.23	—	—
Calmar ratio Return relative to maximum drawdown	1.64	—	—
Martin ratio Return relative to average drawdown	3.26	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IBLC	MSBT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	-1.02	+1.42

Drawdowns

IBLC vs. MSBT - Drawdown Comparison

The maximum IBLC drawdown since its inception was -62.54%, which is greater than MSBT's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for IBLC and MSBT.

Drawdown Indicators

	IBLC	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-62.54%	-18.03%	-44.51%
Max Drawdown (1Y) Largest decline over 1 year	-44.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-51.68%	—	—
Current Drawdown Current decline from peak	-12.99%	-18.03%	+5.04%
Average Drawdown Average peak-to-trough decline	-25.89%	-3.48%	-22.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.56%	—	—

Volatility

Volatility by Period

	IBLC	MSBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	40.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.94%	32.70%	+22.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.49%	32.70%	+31.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.49%	32.70%	+31.79%

IBLC vs. MSBT - Expense Ratio Comparison

IBLC has a 0.47% expense ratio, which is higher than MSBT's 0.14% expense ratio.

Dividends

IBLC vs. MSBT - Dividend Comparison

IBLC's dividend yield for the trailing twelve months is around 4.77%, while MSBT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
IBLC iShares Blockchain and Tech ETF	4.77%	6.31%	1.60%	1.79%	0.84%
MSBT Morgan Stanley Bitcoin Trust	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBLC and MSBT in my portfolio?

IBLC and MSBT have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBLC 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, IBLC or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.47% for IBLC.

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

IBLC has the higher dividend yield at 4.77%, compared with 0.00% for MSBT.

What is the main difference between IBLC and MSBT?

IBLC tracks ICE FactSet Global Blockchain Technologies Index, while MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. They also come from different issuers: iShares and Morgan Stanley. Their fees differ too: 0.47% for IBLC and 0.14% for MSBT.