SOLC vs. MSBT

Last updated Jun 4, 2026

SOLC (Canary Marinade Solana ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. SOLC is actively managed, while MSBT is passively managed. A 0.78 correlation means they provide meaningful diversification when combined. SOLC charges 0.50%/yr vs 0.14%/yr for MSBT.

Performance

SOLC vs. MSBT - Performance Comparison

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

Returns By Period

SOLC

• 1D: -4.59%
• 1M: -14.43%
• YTD: -40.57%
• 6M: -47.69%
• 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)

SOLC vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
SOLC Canary Marinade Solana ETF	-12.74%
MSBT Morgan Stanley Bitcoin Trust	-8.40%

Correlation

The correlation between SOLC 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

SOLC vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canary Marinade Solana ETF (SOLC) 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

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

Drawdowns

SOLC vs. MSBT - Drawdown Comparison

The maximum SOLC drawdown since its inception was -50.08%, which is greater than MSBT's maximum drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for SOLC and MSBT.

Drawdown Indicators

	SOLC	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-50.08%	-20.25%	-29.83%
Current Drawdown Current decline from peak	-50.08%	-20.25%	-29.83%
Average Drawdown Average peak-to-trough decline	-28.95%	-3.91%	-25.04%

Volatility

Volatility by Period

	SOLC	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	71.53%	32.92%	+38.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.53%	32.92%	+38.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.53%	32.92%	+38.61%

SOLC vs. MSBT - Expense Ratio Comparison

SOLC has a 0.50% expense ratio, which is higher than MSBT's 0.14% expense ratio.

Dividends

SOLC vs. MSBT - Dividend Comparison

Neither SOLC nor MSBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SOLC and MSBT in my portfolio?

SOLC 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, SOLC 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, SOLC or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.50% for SOLC.

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

SOLC and MSBT have nearly identical dividend yields, around 0.00%.

What is the main difference between SOLC and MSBT?

They also come from different issuers: Canary and Morgan Stanley. Their fees differ too: 0.50% for SOLC and 0.14% for MSBT.