SOLT vs. MSTR
SOLT (2x Solana ETF) is Blockchain fund actively managed by Volatility Shares, while MSTR (Strategy Inc) is a stock. Over the past year, SOLT returned -90.96% vs -67.34% for MSTR. A 0.74 correlation means they provide meaningful diversification when combined.
Performance
SOLT vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, SOLT achieves a -74.43% return, which is significantly lower than MSTR's -16.72% return.
SOLT
- 1D
- -9.55%
- 1M
- -30.13%
- YTD
- -74.43%
- 6M
- -81.02%
- 1Y
- -90.96%
- 3Y*
- —
- 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%
SOLT vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOLT 2x Solana ETF | -74.43% | -53.74% |
MSTR Strategy Inc | -16.72% | -49.70% |
Correlation
The correlation between SOLT and MSTR is 0.75, 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 | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025 | 0.74 |
The correlation between SOLT and MSTR has been stable across timeframes, ranging from 0.74 to 0.75 - a consistent structural relationship.
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Return for Risk
SOLT vs. MSTR — Risk / Return Rank
SOLT
MSTR
SOLT vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Solana ETF (SOLT) 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.
| SOLT | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.81 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.88 | -0.07 |
| Martin ratioReturn relative to average drawdown | -1.34 | -1.31 | -0.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SOLT | MSTR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | -0.96 | +0.34 |
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 | -0.55 | 0.12 | -0.68 |
Drawdowns
SOLT vs. MSTR - Drawdown Comparison
The maximum SOLT drawdown since its inception was -95.17%, roughly equal to the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for SOLT and MSTR.
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Drawdown Indicators
| SOLT | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.17% | -99.86% | +4.69% |
Max Drawdown (1Y)Largest decline over 1 year | -95.17% | -76.53% | -18.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | -77.42% | — |
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 | -95.17% | -73.29% | -21.88% |
Average DrawdownAverage peak-to-trough decline | -53.33% | -86.48% | +33.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.62% | 51.59% | +16.03% |
Volatility
SOLT vs. MSTR - Volatility Comparison
2x Solana ETF (SOLT) has a higher volatility of 32.36% compared to Strategy Inc (MSTR) at 19.43%. This indicates that SOLT's price experiences larger fluctuations and is considered to be riskier 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
| SOLT | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.36% | 19.43% | +12.93% |
Volatility (6M)Calculated over the trailing 6-month period | 102.45% | 56.49% | +45.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 146.88% | 70.30% | +76.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 150.90% | 90.79% | +60.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 150.90% | 73.70% | +77.20% |
Dividends
SOLT vs. MSTR - Dividend Comparison
SOLT's dividend yield for the trailing twelve months is around 5.98%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
MSTR Strategy Inc | 0.00% | 0.00% |
SOLT 2x Solana ETF | 5.98% | 1.22% |
Frequently Asked Questions
SOLT and MSTR have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOLT has higher volatility (32.36%) compared to MSTR (19.43%). In terms of maximum drawdown, SOLT dropped -95.17% vs MSTR's -99.86%.
SOLT currently has the higher Sharpe Ratio (-0.62 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.
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