MSTR vs. BKCH
MSTR (Strategy Inc) is a stock, while BKCH (Global X Blockchain ETF) is Technology Equities fund actively managed by Global X. Over the past 3 years, MSTR returned 63.46%/yr vs 56.15%/yr for BKCH. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
MSTR vs. BKCH - Performance Comparison
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Returns By Period
In the year-to-date period, MSTR achieves a -18.41% return, which is significantly lower than BKCH's 30.73% return.
MSTR
- 1D
- 3.18%
- 1M
- -30.13%
- YTD
- -18.41%
- 6M
- -29.74%
- 1Y
- -67.62%
- 3Y*
- 63.46%
- 5Y*
- 19.14%
- 10Y*
- 20.92%
BKCH
- 1D
- 1.33%
- 1M
- -7.22%
- YTD
- 30.73%
- 6M
- 13.22%
- 1Y
- 85.38%
- 3Y*
- 56.15%
- 5Y*
- —
- 10Y*
- —
MSTR vs. BKCH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MSTR Strategy Inc | -18.41% | -47.53% | 358.54% | 346.15% | -74.00% | -6.10% |
BKCH Global X Blockchain ETF | 30.73% | 27.14% | 18.81% | 267.06% | -85.10% | -6.69% |
Correlation
The correlation between MSTR and BKCH is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021 | 0.76 |
The correlation between MSTR and BKCH has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.
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Return for Risk
MSTR vs. BKCH — Risk / Return Rank
MSTR
BKCH
MSTR vs. BKCH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Inc (MSTR) and Global X Blockchain ETF (BKCH). 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.
| MSTR | BKCH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -3.46 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.21 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 1.39 | -2.27 |
| Martin ratioReturn relative to average drawdown | -1.27 | 2.54 | -3.81 |
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Drawdowns
MSTR vs. BKCH - Drawdown Comparison
The maximum MSTR drawdown since its inception was -99.86%, which is greater than BKCH's maximum drawdown of -91.80%. Use the drawdown chart below to compare losses from any high point for MSTR and BKCH.
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Drawdown Indicators
| MSTR | BKCH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -91.80% | -8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -76.53% | -56.28% | -20.25% |
Max Drawdown (3Y)Largest decline over 3 years | -77.42% | -57.99% | -19.43% |
Max Drawdown (5Y)Largest decline over 5 years | -84.11% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.27% | — | — |
Current DrawdownCurrent decline from peak | -73.84% | -37.33% | -36.51% |
Average DrawdownAverage peak-to-trough decline | -86.45% | -61.98% | -24.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.01% | 30.68% | +22.33% |
Volatility
MSTR vs. BKCH - Volatility Comparison
Strategy Inc (MSTR) has a higher volatility of 21.60% compared to Global X Blockchain ETF (BKCH) at 20.27%. This indicates that MSTR's price experiences larger fluctuations and is considered to be riskier than BKCH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTR | BKCH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.60% | 20.27% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 57.34% | 52.94% | +4.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.15% | 70.68% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.79% | 75.55% | +15.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.80% | 75.55% | -1.75% |
Dividends
MSTR vs. BKCH - Dividend Comparison
MSTR has not paid dividends to shareholders, while BKCH's dividend yield for the trailing twelve months is around 1.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BKCH Global X Blockchain ETF | 1.53% | 2.00% | 7.61% | 2.33% | 1.29% | 4.28% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSTR and BKCH have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (21.60%) compared to BKCH (20.27%). In terms of maximum drawdown, MSTR dropped -99.86% vs BKCH's -91.80%.
BKCH currently has the higher Sharpe Ratio (1.11 vs -0.95), 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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