VAVX vs. MSBT

Last updated Jun 4, 2026

VAVX (VanEck Avalanche ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds - VAVX tracks the MarketVector Avalanche Benchmark Rate while MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. Both are passively managed. A 0.74 correlation means they provide meaningful diversification when combined. VAVX charges 0.20%/yr vs 0.14%/yr for MSBT.

Performance

VAVX vs. MSBT - Performance Comparison

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

Returns By Period

VAVX

• 1D: -3.50%
• 1M: -12.79%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: -2.70%
• 1M: -18.41%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VAVX vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
VAVX VanEck Avalanche ETF	-11.98%
MSBT Morgan Stanley Bitcoin Trust	-8.40%

Correlation

The correlation between VAVX and MSBT is 0.74, 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	0.74

Return for Risk

VAVX vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Avalanche ETF (VAVX) 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

	VAVX	MSBT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.98	-1.33	+0.36

Drawdowns

VAVX vs. MSBT - Drawdown Comparison

The maximum VAVX drawdown since its inception was -32.73%, which is greater than MSBT's maximum drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for VAVX and MSBT.

Drawdown Indicators

	VAVX	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	-20.25%	-12.48%
Current Drawdown Current decline from peak	-32.73%	-20.25%	-12.48%
Average Drawdown Average peak-to-trough decline	-21.87%	-3.91%	-17.96%

Volatility

Volatility by Period

	VAVX	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	65.98%	32.92%	+33.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.98%	32.92%	+33.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.98%	32.92%	+33.06%

VAVX vs. MSBT - Expense Ratio Comparison

VAVX has a 0.20% expense ratio, which is higher than MSBT's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VAVX vs. MSBT - Dividend Comparison

Neither VAVX nor MSBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VAVX and MSBT in my portfolio?

VAVX and MSBT have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VAVX 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, VAVX or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.20% for VAVX.

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

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

What is the main difference between VAVX and MSBT?

VAVX tracks MarketVector Avalanche Benchmark Rate, while MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. They also come from different issuers: VanEck and Morgan Stanley. Their fees differ too: 0.20% for VAVX and 0.14% for MSBT.