TKNS vs. MSBT

Last updated Jun 30, 2026

TKNS (21Shares Active Crypto ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. TKNS is actively managed, while MSBT is passively managed. Their correlation of 0.91 suggests significant overlap in exposure.

Performance

TKNS vs. MSBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Active Crypto ETF (TKNS) and Morgan Stanley Bitcoin Trust (MSBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TKNS

• 1D: 1.33%
• 1M: -13.52%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: 1.05%
• 1M: -17.85%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TKNS vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
TKNS 21Shares Active Crypto ETF	-18.01%
MSBT Morgan Stanley Bitcoin Trust	-24.26%

Correlation

The correlation between TKNS and MSBT is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 14, 2026	0.91

Return for Risk

TKNS vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Active Crypto ETF (TKNS) 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.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

TKNS vs. MSBT - Drawdown Comparison

The maximum TKNS drawdown since its inception was -22.36%, smaller than the maximum MSBT drawdown of -27.86%. Use the drawdown chart below to compare losses from any high point for TKNS and MSBT.

Drawdown Indicators

	TKNS	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-22.36%	-27.86%	+5.50%
Current Drawdown Current decline from peak	-19.70%	-26.41%	+6.71%
Average Drawdown Average peak-to-trough decline	-12.49%	-9.79%	-2.70%

Volatility

Volatility by Period

	TKNS	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	46.24%	36.81%	+9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.24%	36.81%	+9.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.24%	36.81%	+9.43%

Dividends

TKNS vs. MSBT - Dividend Comparison

Neither TKNS nor MSBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TKNS and MSBT in my portfolio?

With a correlation of 0.91, TKNS and MSBT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

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

What is the main difference between TKNS and MSBT?

They also come from different issuers: 21Shares and Morgan Stanley.