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 -89.02% vs -71.72% 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 -77.47% return, which is significantly lower than MSTR's -31.66% return.
SOLT
- 1D
- -10.71%
- 1M
- -37.12%
- YTD
- -77.47%
- 6M
- -77.71%
- 1Y
- -89.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- -5.13%
- 1M
- -35.06%
- YTD
- -31.66%
- 6M
- -34.23%
- 1Y
- -71.72%
- 3Y*
- 46.67%
- 5Y*
- 12.28%
- 10Y*
- 19.62%
SOLT vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOLT 2x Solana ETF | -77.47% | -55.52% |
MSTR Strategy Inc | -31.66% | -50.05% |
Correlation
The correlation between SOLT and MSTR is 0.76, 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 | 0.76 |
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 0.76 - 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 | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.80 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.93 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.26 | -1.32 | +0.07 |
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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% | -77.22% | -19.06% |
Max Drawdown (3Y)Largest decline over 3 years | — | -78.08% | — |
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 | -95.74% | -78.08% | -17.66% |
Average DrawdownAverage peak-to-trough decline | -54.92% | -86.44% | +31.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.78% | 54.24% | +16.54% |
Volatility
SOLT vs. MSTR - Volatility Comparison
2x Solana ETF (SOLT) has a higher volatility of 43.69% compared to Strategy Inc (MSTR) at 22.01%. 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 | 43.69% | 22.01% | +21.68% |
Volatility (6M)Calculated over the trailing 6-month period | 104.76% | 57.60% | +47.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 148.24% | 72.03% | +76.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 151.89% | 90.57% | +61.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 151.89% | 73.91% | +77.98% |
Dividends
SOLT vs. MSTR - Dividend Comparison
SOLT's dividend yield for the trailing twelve months is around 6.91%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
MSTR Strategy Inc | 0.00% | 0.00% |
SOLT 2x Solana ETF | 6.91% | 1.22% |
Frequently Asked Questions
SOLT and MSTR have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOLT has higher volatility (43.69%) compared to MSTR (22.01%). In terms of maximum drawdown, SOLT dropped -96.28% vs MSTR's -99.86%.
SOLT currently has the higher Sharpe Ratio (-0.60 vs -1.00), 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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