MSBT vs. ARKB

Last updated Jul 12, 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. With a 0.96 correlation, they move nearly in lockstep. 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: 0.99%
• 1M: 0.44%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARKB

• 1D: 1.10%
• 1M: 0.57%
• 6M: -29.22%
• YTD: -27.00%
• 1Y: -46.04%
• 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	-11.97%
ARKB ARK 21Shares Bitcoin ETF	-7.42%

Correlation

The correlation between MSBT and ARKB is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026	0.96

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: 2
ARKB Sharpe Ratio Rank: 1
ARKB Sortino Ratio Rank: 2
ARKB Omega Ratio Rank: 2
ARKB Calmar Ratio Rank: 2
ARKB Martin Ratio Rank: 2

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	—	-0.99	—
Sortino ratio: Return per unit of downside risk	—	-1.46	—
Omega ratio: Gain probability vs. loss probability	—	0.84	—
Calmar ratio: Return relative to maximum drawdown	—	-0.82	—
Martin ratio: Return relative to average drawdown	—	-1.35	—

Drawdowns

MSBT vs. ARKB - Drawdown Comparison

The maximum MSBT drawdown since its inception was -28.33%, smaller than the maximum ARKB drawdown of -53.33%. 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	-28.33%	-53.33%	+25.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.33%	—
Current Drawdown Current decline from peak	-22.12%	-49.16%	+27.04%
Average Drawdown Average peak-to-trough decline	-11.57%	-17.53%	+5.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	32.52%	—

Volatility

Volatility by Period

	MSBT	ARKB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.83%	44.31%	-7.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.83%	49.81%	-12.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.83%	49.81%	-12.98%

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 0.96, 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.