MSBT vs. BFOC

Last updated Jul 12, 2026

MSBT (Morgan Stanley Bitcoin Trust) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - MSBT is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, while BFOC is a Defined Outcome fund actively managed by First Trust. MSBT is passively managed, while BFOC is actively managed. A 0.70 correlation means they provide meaningful diversification when combined. MSBT charges 0.14%/yr vs 0.90%/yr for BFOC.

Performance

MSBT vs. BFOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Bitcoin Trust (MSBT) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSBT

• 1D: 0.99%
• 1M: 0.55%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFOC

• 1D: 0.00%
• 1M: -0.03%
• 6M: -8.04%
• YTD: -6.95%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSBT vs. BFOC - Yearly Performance Comparison

	2026 (YTD)
MSBT Morgan Stanley Bitcoin Trust	-11.97%
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	-0.40%

Correlation

The correlation between MSBT and BFOC is 0.70, 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 8, 2026	0.70

Return for Risk

MSBT vs. BFOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Bitcoin Trust (MSBT) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). 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.

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

Drawdowns

MSBT vs. BFOC - Drawdown Comparison

The maximum MSBT drawdown since its inception was -28.33%, which is greater than BFOC's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for MSBT and BFOC.

Drawdown Indicators

	MSBT	BFOC	Difference
Max Drawdown Largest peak-to-trough decline	-28.33%	-18.41%	-9.92%
Current Drawdown Current decline from peak	-22.12%	-17.81%	-4.31%
Average Drawdown Average peak-to-trough decline	-11.57%	-13.16%	+1.59%

Volatility

Volatility by Period

	MSBT	BFOC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	36.83%	12.00%	+24.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.83%	12.00%	+24.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.83%	12.00%	+24.83%

MSBT vs. BFOC - Expense Ratio Comparison

MSBT has a 0.14% expense ratio, which is lower than BFOC's 0.90% expense ratio.

Dividends

MSBT vs. BFOC - Dividend Comparison

Neither MSBT nor BFOC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSBT and BFOC in my portfolio?

MSBT and BFOC have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSBT or BFOC?

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 BFOC?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.90% for BFOC.

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

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

What is the main difference between MSBT and BFOC?

MSBT is categorized as Cryptocurrency, while BFOC is Defined Outcome. They also come from different issuers: Morgan Stanley and First Trust. Their fees differ too: 0.14% for MSBT and 0.90% for BFOC.