MNRS vs. IAK
MNRS (Grayscale Bitcoin Miners ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - MNRS is a Blockchain fund tracking the Indxx Bitcoin Miners Index, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past year, MNRS returned 46.63% vs 19.67% for IAK. Their -0.05 correlation means they have often moved in opposite directions in the past. MNRS charges 0.59%/yr vs 0.38%/yr for IAK.
Performance
MNRS vs. IAK - Performance Comparison
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Returns By Period
In the year-to-date period, MNRS achieves a 21.32% return, which is significantly higher than IAK's 10.11% return.
MNRS
- 1D
- 5.27%
- 1M
- -1.21%
- 6M
- 7.54%
- YTD
- 21.32%
- 1Y
- 46.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 24.07%
IAK
- 1D
- 0.03%
- 1M
- -0.03%
- 6M
- 12.56%
- YTD
- 10.11%
- 1Y
- 19.67%
- 3Y*
- 19.67%
- 5Y*
- 15.99%
- 10Y*
- 13.18%
- ALL TIME*
- 7.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $15.27M | $20.59M | $12.29M | |
| $315.19K | $243.21K | $549.73K |
MNRS vs. IAK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MNRS Grayscale Bitcoin Miners ETF | 21.32% | 14.05% |
IAK iShares U.S. Insurance ETF | 10.11% | 6.83% |
Correlation
The correlation between MNRS and IAK is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | -0.05 |
The correlation between MNRS and IAK shifts across timeframes, from -0.22 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MNRS vs. IAK — Risk / Return Rank
MNRS
IAK
MNRS vs. IAK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Miners ETF (MNRS) and iShares U.S. Insurance ETF (IAK). 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.
| MNRS | IAK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.22 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 2.59 | -1.77 |
| Martin ratioReturn relative to average drawdown | 1.51 | 6.29 | -4.78 |
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Drawdowns
MNRS vs. IAK - Drawdown Comparison
The maximum MNRS drawdown since its inception was -56.70%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for MNRS and IAK.
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Drawdown Indicators
| MNRS | IAK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.70% | -77.38% | +20.68% |
Max Drawdown (1Y)Largest decline over 1 year | -56.70% | -7.62% | -49.08% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.95% | — |
Current DrawdownCurrent decline from peak | -33.13% | -3.20% | -29.93% |
Average DrawdownAverage peak-to-trough decline | -23.94% | -16.01% | -7.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.91% | 3.13% | +27.78% |
Volatility
MNRS vs. IAK - Volatility Comparison
Grayscale Bitcoin Miners ETF (MNRS) has a higher volatility of 29.13% compared to iShares U.S. Insurance ETF (IAK) at 6.56%. This indicates that MNRS's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNRS | IAK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.13% | 6.56% | +22.57% |
Volatility (6M)Calculated over the trailing 6-month period | 56.71% | 12.42% | +44.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.84% | 15.99% | +59.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.76% | 18.13% | +54.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.76% | 20.92% | +51.84% |
MNRS vs. IAK - Expense Ratio Comparison
MNRS has a 0.59% expense ratio, which is higher than IAK's 0.38% expense ratio.
Dividends
MNRS vs. IAK - Dividend Comparison
MNRS's dividend yield for the trailing twelve months is around 0.45%, less than IAK's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | 2.42% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
MNRS Grayscale Bitcoin Miners ETF | 0.45% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MNRS and IAK have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MNRS has higher volatility (29.13%) compared to IAK (6.56%). In terms of maximum drawdown, MNRS dropped -56.70% vs IAK's -77.38%.
On 1-year performance, MNRS leads with 46.63% vs 19.67% for IAK. On fees, IAK is cheaper at 0.38% per year. On volatility, IAK has been the lower-risk option at 6.56%. 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 46.63% return vs 19.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAK is cheaper with a 0.38% expense ratio, compared with 0.59% for MNRS.
IAK has the higher dividend yield at 2.42%, compared with 0.45% for MNRS.
MNRS is categorized as Blockchain, while IAK is Financials Equities. MNRS tracks Indxx Bitcoin Miners Index, while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: Grayscale and iShares. Their fees differ too: 0.59% for MNRS and 0.38% for IAK.
IAK currently has the higher Sharpe Ratio (1.24 vs 0.62), 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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