SATO vs. MSTR

Last updated Jun 4, 2026

SATO (Invesco Alerian Galaxy Crypto Economy ETF) is Cryptocurrency fund tracking the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index, while MSTR (Strategy Inc) is a stock. Over the past 3 years, SATO returned 45.60%/yr vs 61.19%/yr for MSTR. Their correlation of 0.80 suggests significant overlap in exposure.

Performance

SATO vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Strategy Inc (MSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SATO achieves a 3.47% return, which is significantly higher than MSTR's -16.72% return.

SATO

• 1D: -2.77%
• 1M: 0.47%
• YTD: 3.47%
• 6M: -11.57%
• 1Y: 10.13%
• 3Y*: 45.60%
• 5Y*: —
• 10Y*: —

MSTR

• 1D: -7.01%
• 1M: -31.15%
• YTD: -16.72%
• 6M: -32.83%
• 1Y: -67.34%
• 3Y*: 61.19%
• 5Y*: 21.16%
• 10Y*: 20.96%

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

SATO vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SATO Invesco Alerian Galaxy Crypto Economy ETF	3.47%	2.26%	55.25%	266.77%	-80.20%	-17.39%
MSTR Strategy Inc	-16.72%	-47.53%	358.54%	346.15%	-74.00%	-21.41%

Correlation

The correlation between SATO and MSTR is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 8, 2021	0.80

The correlation between SATO and MSTR has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

SATO vs. MSTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SATO

SATO Risk / Return Rank: 12
SATO Sharpe Ratio Rank: 11
SATO Sortino Ratio Rank: 14
SATO Omega Ratio Rank: 13
SATO Calmar Ratio Rank: 11
SATO Martin Ratio Rank: 10

MSTR

MSTR Risk / Return Rank: 6
MSTR Sharpe Ratio Rank: 5
MSTR Sortino Ratio Rank: 3
MSTR Omega Ratio Rank: 6
MSTR Calmar Ratio Rank: 7
MSTR Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SATO vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) 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.

	SATO	MSTR	Difference
Sharpe ratio: Return per unit of total volatility	0.20	-0.96	+1.16
Sortino ratio: Return per unit of downside risk	0.65	-1.75	+2.40
Omega ratio: Gain probability vs. loss probability	1.07	0.81	+0.26
Calmar ratio: Return relative to maximum drawdown	0.19	-0.88	+1.07
Martin ratio: Return relative to average drawdown	0.35	-1.31	+1.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SATO vs. MSTR - Sharpe Ratio Comparison

The current SATO Sharpe Ratio is 0.20, which is higher than the MSTR Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of SATO and MSTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SATO	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	-0.96	+1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.12	-0.13

Drawdowns

SATO vs. MSTR - Drawdown Comparison

The maximum SATO drawdown since its inception was -88.00%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for SATO and MSTR.

Drawdown Indicators

	SATO	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-88.00%	-99.86%	+11.86%
Max Drawdown (1Y) Largest decline over 1 year	-53.49%	-76.53%	+23.04%
Max Drawdown (3Y) Largest decline over 3 years	-53.49%	-77.42%	+23.93%
Max Drawdown (5Y) Largest decline over 5 years	—	-84.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.27%	—
Current Drawdown Current decline from peak	-36.60%	-73.29%	+36.69%
Average Drawdown Average peak-to-trough decline	-51.00%	-86.48%	+35.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.16%	51.59%	-22.43%

Volatility

SATO vs. MSTR - Volatility Comparison

The current volatility for Invesco Alerian Galaxy Crypto Economy ETF (SATO) is 11.64%, while Strategy Inc (MSTR) has a volatility of 19.43%. This indicates that SATO 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.

Volatility by Period

	SATO	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	19.43%	-7.79%
Volatility (6M) Calculated over the trailing 6-month period	38.36%	56.49%	-18.13%
Volatility (1Y) Calculated over the trailing 1-year period	51.53%	70.30%	-18.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.28%	90.79%	-27.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.28%	73.70%	-10.42%

Dividends

SATO vs. MSTR - Dividend Comparison

SATO's dividend yield for the trailing twelve months is around 7.62%, while MSTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
MSTR Strategy Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SATO Invesco Alerian Galaxy Crypto Economy ETF	7.62%	9.50%	15.03%	2.21%	8.97%	0.73%

Frequently Asked Questions

Can I hold both SATO and MSTR in my portfolio?

SATO and MSTR have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SATO or MSTR?

MSTR has higher volatility (19.43%) compared to SATO (11.64%). In terms of maximum drawdown, SATO dropped -88.00% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

SATO currently has the higher Sharpe Ratio (0.20 vs -0.96), 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.