MSTR vs. FBL
MSTR (Strategy Inc) is a stock, while FBL (GraniteShares 2x Long META Daily ETF) is Leveraged Equities fund actively managed by GraniteShares. Over the past 3 years, MSTR returned 64.73%/yr vs 26.86%/yr for FBL. At a 0.29 correlation, their price movements are largely independent.
Performance
MSTR vs. FBL - Performance Comparison
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Returns By Period
In the year-to-date period, MSTR achieves a -13.70% return, which is significantly higher than FBL's -27.71% return.
MSTR
- 1D
- 5.78%
- 1M
- -26.08%
- YTD
- -13.70%
- 6M
- -19.09%
- 1Y
- -65.75%
- 3Y*
- 64.73%
- 5Y*
- 16.17%
- 10Y*
- 22.02%
FBL
- 1D
- 9.61%
- 1M
- -8.38%
- YTD
- -27.71%
- 6M
- -25.34%
- 1Y
- -39.27%
- 3Y*
- 26.86%
- 5Y*
- —
- 10Y*
- —
MSTR vs. FBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSTR Strategy Inc | -13.70% | -47.53% | 358.54% | 346.15% | -27.83% |
FBL GraniteShares 2x Long META Daily ETF | -27.71% | 0.50% | 112.72% | 341.59% | -1.38% |
Correlation
The correlation between MSTR and FBL is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.29 |
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Return for Risk
MSTR vs. FBL — Risk / Return Rank
MSTR
FBL
MSTR vs. FBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Inc (MSTR) and GraniteShares 2x Long META Daily ETF (FBL). 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 | FBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.94 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.65 | -0.22 |
| Martin ratioReturn relative to average drawdown | -1.24 | -1.15 | -0.08 |
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Drawdowns
MSTR vs. FBL - Drawdown Comparison
The maximum MSTR drawdown since its inception was -99.86%, which is greater than FBL's maximum drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for MSTR and FBL.
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Drawdown Indicators
| MSTR | FBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -61.15% | -38.71% |
Max Drawdown (1Y)Largest decline over 1 year | -76.53% | -61.03% | -15.50% |
Max Drawdown (3Y)Largest decline over 3 years | -77.42% | -61.15% | -16.27% |
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 | -72.32% | -53.15% | -19.17% |
Average DrawdownAverage peak-to-trough decline | -86.45% | -16.74% | -69.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.20% | 34.14% | +19.06% |
Volatility
MSTR vs. FBL - Volatility Comparison
Strategy Inc (MSTR) and GraniteShares 2x Long META Daily ETF (FBL) have volatilities of 21.84% and 22.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTR | FBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.84% | 22.91% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 57.65% | 54.73% | +2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.53% | 71.77% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.56% | 71.21% | +19.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.85% | 71.21% | +2.64% |
Dividends
MSTR vs. FBL - Dividend Comparison
MSTR has not paid dividends to shareholders, while FBL's dividend yield for the trailing twelve months is around 2.87%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FBL GraniteShares 2x Long META Daily ETF | 2.87% | 2.07% | 0.00% | 51.58% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSTR and FBL have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBL has higher volatility (22.91%) compared to MSTR (21.84%). In terms of maximum drawdown, MSTR dropped -99.86% vs FBL's -61.15%.
FBL currently has the higher Sharpe Ratio (-0.55 vs -0.92), 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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