QSOL vs. MSBT

Last updated Jun 4, 2026

QSOL (Invesco Galaxy Solana ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds - QSOL tracks the Lukka Prime Solana Reference Rate - Benchmark Price Return while MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. Both are passively managed. A 0.78 correlation means they provide meaningful diversification when combined. QSOL charges 0.25%/yr vs 0.14%/yr for MSBT.

Performance

QSOL vs. MSBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Galaxy Solana ETF (QSOL) and Morgan Stanley Bitcoin Trust (MSBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QSOL

• 1D: -4.67%
• 1M: -14.50%
• YTD: -41.51%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: -2.70%
• 1M: -18.41%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QSOL vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
QSOL Invesco Galaxy Solana ETF	-13.14%
MSBT Morgan Stanley Bitcoin Trust	-8.40%

Correlation

The correlation between QSOL and MSBT is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026	0.78

Return for Risk

QSOL vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Solana ETF (QSOL) and Morgan Stanley Bitcoin Trust (MSBT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QSOL	MSBT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.99	-1.33	+0.34

Drawdowns

QSOL vs. MSBT - Drawdown Comparison

The maximum QSOL drawdown since its inception was -50.82%, which is greater than MSBT's maximum drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for QSOL and MSBT.

Drawdown Indicators

	QSOL	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-50.82%	-20.25%	-30.57%
Current Drawdown Current decline from peak	-50.82%	-20.25%	-30.57%
Average Drawdown Average peak-to-trough decline	-31.98%	-3.91%	-28.07%

Volatility

Volatility by Period

	QSOL	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	70.59%	32.92%	+37.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.59%	32.92%	+37.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.59%	32.92%	+37.67%

QSOL vs. MSBT - Expense Ratio Comparison

QSOL has a 0.25% expense ratio, which is higher than MSBT's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QSOL vs. MSBT - Dividend Comparison

QSOL's dividend yield for the trailing twelve months is around 0.20%, while MSBT has not paid dividends to shareholders.

Position	TTM
MSBT Morgan Stanley Bitcoin Trust	0.00%
QSOL Invesco Galaxy Solana ETF	0.20%

Frequently Asked Questions

Can I hold both QSOL and MSBT in my portfolio?

QSOL and MSBT have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QSOL or MSBT?

On fees, MSBT is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QSOL or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.25% for QSOL.

Which ETF pays a higher dividend yield, QSOL or MSBT?

QSOL has the higher dividend yield at 0.20%, compared with 0.00% for MSBT.

What is the main difference between QSOL and MSBT?

QSOL tracks Lukka Prime Solana Reference Rate - Benchmark Price Return, while MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. They also come from different issuers: Invesco and Morgan Stanley. Their fees differ too: 0.25% for QSOL and 0.14% for MSBT.