MSTI vs. BTC-USD
MSTI (Madison Short-Term Strategic Income ETF) is Short-Term Bond fund actively managed by Madison, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, MSTI returned 4.07% vs -39.67% for BTC-USD. At a 0.09 correlation, their price movements are largely independent.
Performance
MSTI vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MSTI achieves a 0.48% return, which is significantly higher than BTC-USD's -29.97% return.
MSTI
- 1D
- -0.22%
- 1M
- -0.35%
- YTD
- 0.48%
- 6M
- 0.89%
- 1Y
- 4.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -3.97%
- 1M
- -24.76%
- YTD
- -29.97%
- 6M
- -31.42%
- 1Y
- -39.67%
- 3Y*
- 31.02%
- 5Y*
- 11.35%
- 10Y*
- 59.37%
MSTI vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MSTI Madison Short-Term Strategic Income ETF | 0.48% | 6.33% | 4.84% | 4.14% |
BTC-USD Bitcoin | -29.97% | -6.27% | 120.76% | 64.24% |
Correlation
The correlation between MSTI and BTC-USD is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2023 | 0.09 |
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Return for Risk
MSTI vs. BTC-USD — Risk / Return Rank
MSTI
BTC-USD
MSTI vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Short-Term Strategic Income ETF (MSTI) and Bitcoin (BTC-USD). 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.
| MSTI | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.60 | ||
| Sortino ratioReturn per unit of downside risk | +3.79 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.87 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | -0.78 | +3.88 |
| Martin ratioReturn relative to average drawdown | 12.79 | -1.39 | +14.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSTI | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.67 | -0.93 | +2.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.21 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.14 | 1.13 | +1.01 |
Drawdowns
MSTI vs. BTC-USD - Drawdown Comparison
The maximum MSTI drawdown since its inception was -1.48%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for MSTI and BTC-USD.
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Drawdown Indicators
| MSTI | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.48% | -85.30% | +83.82% |
Max Drawdown (1Y)Largest decline over 1 year | -1.32% | -50.87% | +49.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.87% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -0.48% | -50.87% | +50.39% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -42.29% | +42.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 34.02% | -33.70% |
Volatility
MSTI vs. BTC-USD - Volatility Comparison
The current volatility for Madison Short-Term Strategic Income ETF (MSTI) is 0.55%, while Bitcoin (BTC-USD) has a volatility of 10.54%. This indicates that MSTI experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTI | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 10.54% | -9.99% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 34.26% | -32.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.45% | 35.65% | -33.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.71% | 44.98% | -42.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.71% | 56.70% | -53.99% |
Frequently Asked Questions
MSTI and BTC-USD have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (10.54%) compared to MSTI (0.55%). In terms of maximum drawdown, MSTI dropped -1.48% vs BTC-USD's -85.30%.
MSTI currently has the higher Sharpe Ratio (1.67 vs -0.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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