MSBT vs. BITC
MSBT (Morgan Stanley Bitcoin Trust) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both Cryptocurrency funds. MSBT is passively managed, while BITC is actively managed. A 0.76 correlation means they provide meaningful diversification when combined. MSBT charges 0.14%/yr vs 0.88%/yr for BITC.
Performance
MSBT vs. BITC - Performance Comparison
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Returns By Period
MSBT
- 1D
- -2.77%
- 1M
- -22.16%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITC
- 1D
- -0.04%
- 1M
- -6.33%
- YTD
- 6.94%
- 6M
- -0.82%
- 1Y
- -15.12%
- 3Y*
- 39.11%
- 5Y*
- —
- 10Y*
- —
MSBT vs. BITC - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MSBT Morgan Stanley Bitcoin Trust | -10.94% |
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 7.23% |
Correlation
The correlation between MSBT and BITC is 0.76, 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 9, 2026 | 0.76 |
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Return for Risk
MSBT vs. BITC — Risk / Return Rank
MSBT
BITC
MSBT vs. BITC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Bitcoin Trust (MSBT) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| MSBT | BITC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.58 | 0.68 | -2.26 |
Drawdowns
MSBT vs. BITC - Drawdown Comparison
The maximum MSBT drawdown since its inception was -22.46%, smaller than the maximum BITC drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for MSBT and BITC.
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Drawdown Indicators
| MSBT | BITC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -38.51% | +16.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.51% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -38.51% | — |
Current DrawdownCurrent decline from peak | -22.46% | -26.50% | +4.04% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -16.38% | +12.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 18.41% | — |
Volatility
MSBT vs. BITC - Volatility Comparison
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Volatility by Period
| MSBT | BITC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 19.98% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 33.13% | 25.54% | +7.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.13% | 46.63% | -13.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.13% | 46.63% | -13.50% |
MSBT vs. BITC - Expense Ratio Comparison
MSBT has a 0.14% expense ratio, which is lower than BITC's 0.88% expense ratio.
Dividends
MSBT vs. BITC - Dividend Comparison
MSBT has not paid dividends to shareholders, while BITC's dividend yield for the trailing twelve months is around 3.14%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.14% | 3.36% | 42.68% | 5.82% |
MSBT Morgan Stanley Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSBT and BITC have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
MSBT is cheaper with a 0.14% expense ratio, compared with 0.88% for BITC.
BITC has the higher dividend yield at 3.14%, compared with 0.00% for MSBT.
They also come from different issuers: Morgan Stanley and Bitwise. Their fees differ too: 0.14% for MSBT and 0.88% for BITC.
Find the right allocation for MSBT and BITC
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