OWNB vs. MSTR
OWNB (Bitwise Bitcoin Standard Corporations ETF) is Blockchain fund tracking the Bitwise Bitcoin Standard Corporations Inde, while MSTR (Strategy Inc) is a stock. Over the past year, OWNB returned -34.38% vs -71.72% for MSTR. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
OWNB vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, OWNB achieves a -9.32% return, which is significantly higher than MSTR's -31.66% return.
OWNB
- 1D
- -2.77%
- 1M
- -11.48%
- YTD
- -9.32%
- 6M
- -15.24%
- 1Y
- -34.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- -5.13%
- 1M
- -35.06%
- YTD
- -31.66%
- 6M
- -34.23%
- 1Y
- -71.72%
- 3Y*
- 46.67%
- 5Y*
- 12.28%
- 10Y*
- 19.62%
OWNB vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OWNB Bitwise Bitcoin Standard Corporations ETF | -9.32% | -1.19% |
MSTR Strategy Inc | -31.66% | -36.49% |
Correlation
The correlation between OWNB and MSTR is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025 | 0.80 |
The correlation between OWNB and MSTR has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
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Return for Risk
OWNB vs. MSTR — Risk / Return Rank
OWNB
MSTR
OWNB vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Standard Corporations ETF (OWNB) and Strategy Inc (MSTR). 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.
| OWNB | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.80 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | -0.93 | +0.35 |
| Martin ratioReturn relative to average drawdown | -0.97 | -1.32 | +0.36 |
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Drawdowns
OWNB vs. MSTR - Drawdown Comparison
The maximum OWNB drawdown since its inception was -59.47%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for OWNB and MSTR.
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Drawdown Indicators
| OWNB | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.47% | -99.86% | +40.39% |
Max Drawdown (1Y)Largest decline over 1 year | -59.47% | -77.22% | +17.75% |
Max Drawdown (3Y)Largest decline over 3 years | — | -78.08% | — |
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 | -48.91% | -78.08% | +29.17% |
Average DrawdownAverage peak-to-trough decline | -25.71% | -86.44% | +60.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.62% | 54.24% | -18.62% |
Volatility
OWNB vs. MSTR - Volatility Comparison
The current volatility for Bitwise Bitcoin Standard Corporations ETF (OWNB) is 15.85%, while Strategy Inc (MSTR) has a volatility of 22.01%. This indicates that OWNB experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OWNB | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.85% | 22.01% | -6.16% |
Volatility (6M)Calculated over the trailing 6-month period | 43.46% | 57.60% | -14.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.05% | 72.03% | -13.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.38% | 90.57% | -28.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.38% | 73.91% | -11.53% |
Dividends
OWNB vs. MSTR - Dividend Comparison
OWNB's dividend yield for the trailing twelve months is around 0.96%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
MSTR Strategy Inc | 0.00% | 0.00% |
OWNB Bitwise Bitcoin Standard Corporations ETF | 0.96% | 0.87% |
Frequently Asked Questions
OWNB and MSTR have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (22.01%) compared to OWNB (15.85%). In terms of maximum drawdown, OWNB dropped -59.47% vs MSTR's -99.86%.
OWNB currently has the higher Sharpe Ratio (-0.59 vs -1.00), 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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