MSTR vs. ESPO
MSTR (Strategy Inc) is a stock, while ESPO (VanEck Vectors Video Gaming and eSports ETF) is Large Cap Growth Equities fund tracking the MVIS Global Video Gaming and eSports Index. Over the past 5 years, MSTR returned 19.14%/yr vs 5.49%/yr for ESPO. At a 0.47 correlation, their price movements are largely independent.
Performance
MSTR vs. ESPO - 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 ESPO's -15.10% return.
MSTR
- 1D
- 3.18%
- 1M
- -30.37%
- YTD
- -18.41%
- 6M
- -29.74%
- 1Y
- -67.36%
- 3Y*
- 63.46%
- 5Y*
- 19.14%
- 10Y*
- 20.92%
ESPO
- 1D
- -0.29%
- 1M
- -3.31%
- YTD
- -15.10%
- 6M
- -16.17%
- 1Y
- -14.92%
- 3Y*
- 16.96%
- 5Y*
- 5.49%
- 10Y*
- —
MSTR vs. ESPO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MSTR Strategy Inc | -18.41% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.59% |
ESPO VanEck Vectors Video Gaming and eSports ETF | -15.10% | 25.79% | 47.61% | 33.64% | -34.71% | -2.13% | 83.93% | 42.36% | -12.49% |
Correlation
The correlation between MSTR and ESPO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.47 |
The correlation between MSTR and ESPO shifts across timeframes, from 0.39 (1 year) to 0.50 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MSTR vs. ESPO — Risk / Return Rank
MSTR
ESPO
MSTR vs. ESPO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Inc (MSTR) and VanEck Vectors Video Gaming and eSports ETF (ESPO). 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 | ESPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.88 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.54 | -0.34 |
| Martin ratioReturn relative to average drawdown | -1.27 | -0.94 | -0.33 |
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Drawdowns
MSTR vs. ESPO - Drawdown Comparison
The maximum MSTR drawdown since its inception was -99.86%, which is greater than ESPO's maximum drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for MSTR and ESPO.
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Drawdown Indicators
| MSTR | ESPO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -50.99% | -48.87% |
Max Drawdown (1Y)Largest decline over 1 year | -76.53% | -27.81% | -48.72% |
Max Drawdown (3Y)Largest decline over 3 years | -77.42% | -27.81% | -49.61% |
Max Drawdown (5Y)Largest decline over 5 years | -84.11% | -48.33% | -35.78% |
Max Drawdown (10Y)Largest decline over 10 years | -89.27% | — | — |
Current DrawdownCurrent decline from peak | -73.84% | -27.19% | -46.65% |
Average DrawdownAverage peak-to-trough decline | -86.45% | -15.06% | -71.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.01% | 15.95% | +37.06% |
Volatility
MSTR vs. ESPO - Volatility Comparison
Strategy Inc (MSTR) has a higher volatility of 21.60% compared to VanEck Vectors Video Gaming and eSports ETF (ESPO) at 4.42%. This indicates that MSTR's price experiences larger fluctuations and is considered to be riskier than ESPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTR | ESPO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.60% | 4.42% | +17.18% |
Volatility (6M)Calculated over the trailing 6-month period | 57.34% | 14.67% | +42.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.15% | 18.83% | +52.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.79% | 25.10% | +65.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.80% | 25.71% | +48.09% |
Dividends
MSTR vs. ESPO - Dividend Comparison
MSTR has not paid dividends to shareholders, while ESPO's dividend yield for the trailing twelve months is around 1.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Vectors Video Gaming and eSports ETF | 1.47% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSTR and ESPO have a correlation of 0.39, 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 ESPO (4.42%). In terms of maximum drawdown, MSTR dropped -99.86% vs ESPO's -50.99%.
ESPO currently has the higher Sharpe Ratio (-0.80 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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