MNRS vs. QSOL

Last updated Jun 26, 2026

MNRS (Grayscale Bitcoin Miners ETF) and QSOL (Invesco Galaxy Solana ETF) are both exchange-traded funds - MNRS is a Blockchain fund tracking the Indxx Bitcoin Miners Index, while QSOL is a Cryptocurrency fund tracking the Lukka Prime Solana Reference Rate - Benchmark Price Return. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. MNRS charges 0.59%/yr vs 0.25%/yr for QSOL.

Performance

MNRS vs. QSOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Miners ETF (MNRS) and Invesco Galaxy Solana ETF (QSOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNRS achieves a 45.71% return, which is significantly higher than QSOL's -46.09% return.

MNRS

• 1D: -2.70%
• 1M: -6.56%
• YTD: 45.71%
• 6M: 35.00%
• 1Y: 95.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QSOL

• 1D: 0.30%
• 1M: -20.74%
• YTD: -46.09%
• 6M: -45.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MNRS vs. QSOL - Yearly Performance Comparison

	2026 (YTD)	2025
MNRS Grayscale Bitcoin Miners ETF	45.71%	-11.72%
QSOL Invesco Galaxy Solana ETF	-46.09%	-4.28%

Correlation

The correlation between MNRS and QSOL is 0.62, 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 Dec 15, 2025	0.62

Return for Risk

MNRS vs. QSOL — Risk / Return Rank

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

MNRS

MNRS Risk / Return Rank: 37
MNRS Sharpe Ratio Rank: 42
MNRS Sortino Ratio Rank: 43
MNRS Omega Ratio Rank: 38
MNRS Calmar Ratio Rank: 36
MNRS Martin Ratio Rank: 26

QSOL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MNRS vs. QSOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Miners ETF (MNRS) and Invesco Galaxy Solana ETF (QSOL). 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	QSOL	Difference
Sharpe ratio: Return per unit of total volatility	1.34	—	—
Sortino ratio: Return per unit of downside risk	1.96	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.69	—	—
Martin ratio: Return relative to average drawdown	3.27	—	—

Drawdowns

MNRS vs. QSOL - Drawdown Comparison

The maximum MNRS drawdown since its inception was -56.70%, roughly equal to the maximum QSOL drawdown of -56.55%. Use the drawdown chart below to compare losses from any high point for MNRS and QSOL.

Drawdown Indicators

	MNRS	QSOL	Difference
Max Drawdown Largest peak-to-trough decline	-56.70%	-56.55%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-56.70%	—	—
Current Drawdown Current decline from peak	-19.68%	-54.68%	+35.00%
Average Drawdown Average peak-to-trough decline	-23.32%	-34.23%	+10.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.17%	—	—

Volatility

Volatility by Period

	MNRS	QSOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	52.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	71.30%	71.97%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.73%	71.97%	-1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.73%	71.97%	-1.24%

MNRS vs. QSOL - Expense Ratio Comparison

MNRS has a 0.59% expense ratio, which is higher than QSOL's 0.25% expense ratio.

Dividends

MNRS vs. QSOL - Dividend Comparison

MNRS's dividend yield for the trailing twelve months is around 0.37%, less than QSOL's 1.03% yield.

Position	TTM	2025
MNRS Grayscale Bitcoin Miners ETF	0.37%	0.54%
QSOL Invesco Galaxy Solana ETF	1.03%	0.00%

Frequently Asked Questions

Can I hold both MNRS and QSOL in my portfolio?

MNRS and QSOL have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MNRS or QSOL?

On fees, QSOL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNRS or QSOL?

QSOL is cheaper with a 0.25% expense ratio, compared with 0.59% for MNRS.

Which ETF pays a higher dividend yield, MNRS or QSOL?

QSOL has the higher dividend yield at 1.03%, compared with 0.37% for MNRS.

What is the main difference between MNRS and QSOL?

MNRS is categorized as Blockchain, while QSOL is Cryptocurrency. MNRS tracks Indxx Bitcoin Miners Index, while QSOL tracks Lukka Prime Solana Reference Rate - Benchmark Price Return. They also come from different issuers: Grayscale and Invesco. Their fees differ too: 0.59% for MNRS and 0.25% for QSOL.