TSUI vs. MSBT

Last updated Jun 5, 2026

TSUI (21Shares Sui ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds - TSUI tracks the Sui (SUI) while MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. Both are passively managed. A 0.73 correlation means they provide meaningful diversification when combined. TSUI charges 0.30%/yr vs 0.14%/yr for MSBT.

Performance

TSUI vs. MSBT - Performance Comparison

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

Returns By Period

TSUI

• 1D: -3.96%
• 1M: -18.71%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: -2.77%
• 1M: -22.16%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSUI vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
TSUI 21Shares Sui ETF	-15.13%
MSBT Morgan Stanley Bitcoin Trust	-10.94%

Correlation

The correlation between TSUI and MSBT is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026	0.73

Return for Risk

TSUI vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Sui ETF (TSUI) 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.

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

Sharpe Ratios by Period

	TSUI	MSBT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	-1.58	+1.23

Drawdowns

TSUI vs. MSBT - Drawdown Comparison

The maximum TSUI drawdown since its inception was -40.39%, which is greater than MSBT's maximum drawdown of -22.46%. Use the drawdown chart below to compare losses from any high point for TSUI and MSBT.

Drawdown Indicators

	TSUI	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-40.39%	-22.46%	-17.93%
Current Drawdown Current decline from peak	-40.39%	-22.46%	-17.93%
Average Drawdown Average peak-to-trough decline	-12.52%	-4.38%	-8.14%

Volatility

Volatility by Period

	TSUI	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	87.89%	33.13%	+54.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.89%	33.13%	+54.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.89%	33.13%	+54.76%

TSUI vs. MSBT - Expense Ratio Comparison

TSUI has a 0.30% expense ratio, which is higher than MSBT's 0.14% expense ratio.

Dividends

TSUI vs. MSBT - Dividend Comparison

TSUI's dividend yield for the trailing twelve months is around 0.31%, while MSBT has not paid dividends to shareholders.

Position	TTM
MSBT Morgan Stanley Bitcoin Trust	0.00%
TSUI 21Shares Sui ETF	0.31%

Frequently Asked Questions

Can I hold both TSUI and MSBT in my portfolio?

TSUI and MSBT have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSUI or MSBT?

On fees, MSBT is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSUI or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.30% for TSUI.

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

TSUI has the higher dividend yield at 0.31%, compared with 0.00% for MSBT.

What is the main difference between TSUI and MSBT?

TSUI tracks Sui (SUI), while MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. They also come from different issuers: 21Shares and Morgan Stanley. Their fees differ too: 0.30% for TSUI and 0.14% for MSBT.