MSTW vs. BTC-USD
MSTW (Roundhill MSTR WeeklyPay™ ETF) is Derivative Income fund actively managed by Roundhill, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, MSTW returned -83.12% vs -43.83% for BTC-USD. Their 0.64 correlation means they have sometimes moved together and sometimes differently.
Performance
MSTW vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MSTW achieves a -49.11% return, which is significantly lower than BTC-USD's -27.75% return.
MSTW
- 1D
- -5.03%
- 1M
- -9.33%
- 6M
- -47.69%
- YTD
- -49.11%
- 1Y
- -83.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -84.93%
BTC-USD
- 1D
- 0.72%
- 1M
- 1.12%
- 6M
- -17.79%
- YTD
- -27.75%
- 1Y
- -43.83%
- 3Y*
- 29.40%
- 5Y*
- 10.61%
- 10Y*
- 59.66%
- ALL TIME*
- 87.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTC-USD Bitcoin | $1569.44T | $1598.63T | $2087.37T |
| $1.36M | $1.35M | $3.08M |
MSTW vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTW Roundhill MSTR WeeklyPay™ ETF | -49.11% | -71.40% |
BTC-USD Bitcoin | -27.75% | -26.36% |
Correlation
The correlation between MSTW and BTC-USD is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025 | 0.64 |
The correlation between MSTW and BTC-USD has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.
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Return for Risk
MSTW vs. BTC-USD — Risk / Return Rank
MSTW
BTC-USD
MSTW vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill MSTR WeeklyPay™ ETF (MSTW) 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.
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.
| MSTW | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.85 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.83 | -0.15 |
| Martin ratioReturn relative to average drawdown | -1.35 | -1.27 | -0.08 |
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Drawdowns
MSTW vs. BTC-USD - Drawdown Comparison
The maximum MSTW drawdown since its inception was -87.29%, roughly equal to the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for MSTW and BTC-USD.
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Drawdown Indicators
| MSTW | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.29% | -85.30% | -1.99% |
Max Drawdown (1Y)Largest decline over 1 year | -86.75% | -53.08% | -33.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -53.08% | — |
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 | -85.46% | -49.31% | -36.15% |
Average DrawdownAverage peak-to-trough decline | -58.78% | -42.73% | -16.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.15% | 24.94% | +38.21% |
Volatility
MSTW vs. BTC-USD - Volatility Comparison
Roundhill MSTR WeeklyPay™ ETF (MSTW) has a higher volatility of 21.78% compared to Bitcoin (BTC-USD) at 8.45%. This indicates that MSTW's price experiences larger fluctuations and is considered to be riskier 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
| MSTW | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.78% | 8.45% | +13.33% |
Volatility (6M)Calculated over the trailing 6-month period | 73.44% | 33.72% | +39.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.22% | 35.86% | +55.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.37% | 43.65% | +46.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.37% | 56.22% | +34.15% |
Frequently Asked Questions
MSTW and BTC-USD have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTW has higher volatility (21.78%) compared to BTC-USD (8.45%). In terms of maximum drawdown, MSTW dropped -87.29% vs BTC-USD's -85.30%.
MSTW currently has the higher Sharpe Ratio (-0.93 vs -1.02), 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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