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 -89.81% vs -78.36% 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 -72.29% return, which is significantly lower than MSTR's -35.78% return.
SOLT
- 1D
- 5.47%
- 1M
- 27.80%
- 6M
- -79.23%
- YTD
- -72.29%
- 1Y
- -89.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- 5.95%
- 1M
- -21.29%
- 6M
- -43.59%
- YTD
- -35.78%
- 1Y
- -78.36%
- 3Y*
- 28.60%
- 5Y*
- 12.52%
- 10Y*
- 17.95%
SOLT vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOLT 2x Solana ETF | -72.29% | -55.52% |
MSTR Strategy Inc | -35.78% | -50.05% |
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 20, 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.
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.
| SOLT | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.76 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.96 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.21 | -1.37 | +0.16 |
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Drawdowns
SOLT vs. MSTR - Drawdown Comparison
The maximum SOLT drawdown since its inception was -96.28%, 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 | -96.28% | -99.86% | +3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -96.28% | -81.95% | -14.33% |
Max Drawdown (3Y)Largest decline over 3 years | — | -82.63% | — |
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 | -94.76% | -79.41% | -15.35% |
Average DrawdownAverage peak-to-trough decline | -56.62% | -86.43% | +29.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 74.21% | 57.39% | +16.82% |
Volatility
SOLT vs. MSTR - Volatility Comparison
2x Solana ETF (SOLT) has a higher volatility of 42.51% compared to Strategy Inc (MSTR) at 27.16%. 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 | 42.51% | 27.16% | +15.35% |
Volatility (6M)Calculated over the trailing 6-month period | 106.55% | 61.12% | +45.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 148.14% | 74.42% | +73.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 151.21% | 90.80% | +60.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 151.21% | 74.26% | +76.95% |
Dividends
SOLT vs. MSTR - Dividend Comparison
SOLT's dividend yield for the trailing twelve months is around 5.33%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
MSTR Strategy Inc | 0.00% | 0.00% |
SOLT 2x Solana ETF | 5.33% | 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 (42.51%) compared to MSTR (27.16%). In terms of maximum drawdown, SOLT dropped -96.28% vs MSTR's -99.86%.
SOLT currently has the higher Sharpe Ratio (-0.61 vs -1.06), 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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