MSBT vs. ESK

Last updated Jun 5, 2026

MSBT (Morgan Stanley Bitcoin Trust) and ESK (REX-Osprey ETH + Staking ETF) are both Cryptocurrency funds. MSBT is passively managed, while ESK is actively managed. Their correlation of 0.92 suggests significant overlap in exposure. MSBT charges 0.14%/yr vs 0.75%/yr for ESK.

Performance

MSBT vs. ESK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Bitcoin Trust (MSBT) and REX-Osprey ETH + Staking ETF (ESK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSBT

• 1D: -2.77%
• 1M: -22.16%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ESK

• 1D: -1.93%
• 1M: -26.08%
• YTD: -40.40%
• 6M: -43.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSBT vs. ESK - Yearly Performance Comparison

	2026 (YTD)
MSBT Morgan Stanley Bitcoin Trust	-10.94%
ESK REX-Osprey ETH + Staking ETF	-20.71%

Correlation

The correlation between MSBT and ESK is 0.92, 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 9, 2026	0.92

Return for Risk

MSBT vs. ESK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Bitcoin Trust (MSBT) and REX-Osprey ETH + Staking ETF (ESK). 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.

Sharpe Ratios by Period

	MSBT	ESK	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.58	-1.01	-0.58

Drawdowns

MSBT vs. ESK - Drawdown Comparison

The maximum MSBT drawdown since its inception was -22.46%, smaller than the maximum ESK drawdown of -61.89%. Use the drawdown chart below to compare losses from any high point for MSBT and ESK.

Drawdown Indicators

	MSBT	ESK	Difference
Max Drawdown Largest peak-to-trough decline	-22.46%	-61.89%	+39.43%
Current Drawdown Current decline from peak	-22.46%	-61.89%	+39.43%
Average Drawdown Average peak-to-trough decline	-4.38%	-40.31%	+35.93%

Volatility

Volatility by Period

	MSBT	ESK	Difference
Volatility (1Y) Calculated over the trailing 1-year period	33.13%	67.08%	-33.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.13%	67.08%	-33.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.13%	67.08%	-33.95%

MSBT vs. ESK - Expense Ratio Comparison

MSBT has a 0.14% expense ratio, which is lower than ESK's 0.75% expense ratio.

Dividends

MSBT vs. ESK - Dividend Comparison

MSBT has not paid dividends to shareholders, while ESK's dividend yield for the trailing twelve months is around 0.99%.

Position	TTM	2025
ESK REX-Osprey ETH + Staking ETF	0.99%	0.30%
MSBT Morgan Stanley Bitcoin Trust	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSBT and ESK in my portfolio?

With a correlation of 0.92, MSBT and ESK 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 ESK?

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 ESK?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.75% for ESK.

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

ESK has the higher dividend yield at 0.99%, compared with 0.00% for MSBT.

What is the main difference between MSBT and ESK?

They also come from different issuers: Morgan Stanley and REX Shares. Their fees differ too: 0.14% for MSBT and 0.75% for ESK.