STCE vs. MSTR
STCE (Schwab Crypto Thematic ETF) is Blockchain fund tracking the Schwab Crypto Thematic Index, while MSTR (Strategy Inc) is a stock. Over the past 3 years, STCE returned 54.83%/yr vs 46.67%/yr for MSTR. A 0.77 correlation means they provide meaningful diversification when combined.
Performance
STCE vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, STCE achieves a 28.85% return, which is significantly higher than MSTR's -31.66% return.
STCE
- 1D
- -2.15%
- 1M
- 3.34%
- YTD
- 28.85%
- 6M
- 18.77%
- 1Y
- 80.72%
- 3Y*
- 54.83%
- 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%
STCE vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
STCE Schwab Crypto Thematic ETF | 28.85% | 36.12% | 41.76% | 108.65% | -40.98% |
MSTR Strategy Inc | -31.66% | -47.53% | 358.54% | 346.15% | -54.87% |
Correlation
The correlation between STCE and MSTR is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2022 | 0.77 |
The correlation between STCE and MSTR has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
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Return for Risk
STCE vs. MSTR — Risk / Return Rank
STCE
MSTR
STCE vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Crypto Thematic ETF (STCE) 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.
| STCE | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.31 | ||
| Sortino ratioReturn per unit of downside risk | +3.84 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.80 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | -0.93 | +2.43 |
| Martin ratioReturn relative to average drawdown | 2.65 | -1.32 | +3.97 |
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Drawdowns
STCE vs. MSTR - Drawdown Comparison
The maximum STCE drawdown since its inception was -54.11%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for STCE and MSTR.
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Drawdown Indicators
| STCE | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.11% | -99.86% | +45.75% |
Max Drawdown (1Y)Largest decline over 1 year | -54.11% | -77.22% | +23.11% |
Max Drawdown (3Y)Largest decline over 3 years | -54.11% | -78.08% | +23.97% |
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 | -27.40% | -78.08% | +50.68% |
Average DrawdownAverage peak-to-trough decline | -22.05% | -86.44% | +64.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.56% | 54.24% | -23.68% |
Volatility
STCE vs. MSTR - Volatility Comparison
The current volatility for Schwab Crypto Thematic ETF (STCE) is 16.59%, while Strategy Inc (MSTR) has a volatility of 22.01%. This indicates that STCE 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.
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Volatility by Period
| STCE | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.59% | 22.01% | -5.42% |
Volatility (6M)Calculated over the trailing 6-month period | 42.95% | 57.60% | -14.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.01% | 72.03% | -10.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.01% | 90.57% | -34.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.01% | 73.91% | -17.90% |
Dividends
STCE vs. MSTR - Dividend Comparison
STCE's dividend yield for the trailing twelve months is around 1.52%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
STCE Schwab Crypto Thematic ETF | 1.52% | 1.96% | 0.64% | 0.31% | 1.46% |
Frequently Asked Questions
STCE and MSTR have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (22.01%) compared to STCE (16.59%). In terms of maximum drawdown, STCE dropped -54.11% vs MSTR's -99.86%.
STCE currently has the higher Sharpe Ratio (1.31 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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