MSBT vs. ARKB

Last updated Jun 23, 2026

MSBT (Morgan Stanley Bitcoin Trust) and ARKB (ARK 21Shares Bitcoin ETF) are both Cryptocurrency funds - MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate while ARKB tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Their correlation of 0.95 suggests significant overlap in exposure. MSBT charges 0.14%/yr vs 0.21%/yr for ARKB.

Performance

MSBT vs. ARKB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Bitcoin Trust (MSBT) and ARK 21Shares Bitcoin ETF (ARKB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSBT

• 1D: 2.44%
• 1M: -14.96%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARKB

• 1D: 2.30%
• 1M: -15.02%
• YTD: -26.45%
• 6M: -27.12%
• 1Y: -37.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSBT vs. ARKB - Yearly Performance Comparison

	2026 (YTD)
MSBT Morgan Stanley Bitcoin Trust	-11.15%
ARKB ARK 21Shares Bitcoin ETF	-6.72%

Correlation

The correlation between MSBT and ARKB is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026	0.95

Return for Risk

MSBT vs. ARKB — Risk / Return Rank

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

MSBT

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

ARKB

ARKB Risk / Return Rank: 3
ARKB Sharpe Ratio Rank: 2
ARKB Sortino Ratio Rank: 2
ARKB Omega Ratio Rank: 3
ARKB Calmar Ratio Rank: 3
ARKB Martin Ratio Rank: 3

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.

MSBT vs. ARKB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Bitcoin Trust (MSBT) and ARK 21Shares Bitcoin ETF (ARKB). 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.

	MSBT	ARKB	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.86	—
Sortino ratio: Return per unit of downside risk	—	-1.17	—
Omega ratio: Gain probability vs. loss probability	—	0.87	—
Calmar ratio: Return relative to maximum drawdown	—	-0.73	—
Martin ratio: Return relative to average drawdown	—	-1.25	—

Drawdowns

MSBT vs. ARKB - Drawdown Comparison

The maximum MSBT drawdown since its inception was -26.46%, smaller than the maximum ARKB drawdown of -52.04%. Use the drawdown chart below to compare losses from any high point for MSBT and ARKB.

Drawdown Indicators

	MSBT	ARKB	Difference
Max Drawdown Largest peak-to-trough decline	-26.46%	-52.04%	+25.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.04%	—
Current Drawdown Current decline from peak	-21.40%	-48.78%	+27.38%
Average Drawdown Average peak-to-trough decline	-8.18%	-16.82%	+8.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.37%	—

Volatility

Volatility by Period

	MSBT	ARKB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.79%	44.11%	-7.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.79%	50.04%	-13.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.79%	50.04%	-13.25%

MSBT vs. ARKB - Expense Ratio Comparison

MSBT has a 0.14% expense ratio, which is lower than ARKB's 0.21% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MSBT vs. ARKB - Dividend Comparison

Neither MSBT nor ARKB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSBT and ARKB in my portfolio?

With a correlation of 0.95, MSBT and ARKB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, MSBT or ARKB?

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, MSBT or ARKB?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.21% for ARKB.

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

MSBT and ARKB have nearly identical dividend yields, around 0.00%.

What is the main difference between MSBT and ARKB?

MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, while ARKB tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Morgan Stanley and ARK. Their fees differ too: 0.14% for MSBT and 0.21% for ARKB.