XRPI vs. MSBT
XRPI (Volatility Shares XRP ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. XRPI is actively managed, while MSBT is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. XRPI charges 0.94%/yr vs 0.14%/yr for MSBT.
Performance
XRPI vs. MSBT - Performance Comparison
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Returns By Period
XRPI
- 1D
- -2.57%
- 1M
- -23.08%
- YTD
- -45.56%
- 6M
- -46.34%
- 1Y
- -59.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSBT
- 1D
- -1.17%
- 1M
- -22.09%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XRPI vs. MSBT - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
XRPI Volatility Shares XRP ETF | -22.74% |
MSBT Morgan Stanley Bitcoin Trust | -18.46% |
Correlation
The correlation between XRPI and MSBT is 0.80, 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 Apr 8, 2026 | 0.80 |
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Return for Risk
XRPI vs. MSBT — Risk / Return Rank
XRPI
MSBT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XRPI vs. MSBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares XRP ETF (XRPI) 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.
| XRPI | MSBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.87 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | — | — |
| Martin ratioReturn relative to average drawdown | -1.20 | — | — |
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Drawdowns
XRPI vs. MSBT - Drawdown Comparison
The maximum XRPI drawdown since its inception was -74.60%, which is greater than MSBT's maximum drawdown of -27.86%. Use the drawdown chart below to compare losses from any high point for XRPI and MSBT.
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Drawdown Indicators
| XRPI | MSBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.60% | -27.86% | -46.74% |
Max Drawdown (1Y)Largest decline over 1 year | -74.60% | — | — |
Current DrawdownCurrent decline from peak | -74.60% | -27.86% | -46.74% |
Average DrawdownAverage peak-to-trough decline | -41.42% | -9.17% | -32.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.30% | — | — |
Volatility
XRPI vs. MSBT - Volatility Comparison
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Volatility by Period
| XRPI | MSBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.74% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 52.89% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 76.24% | 37.27% | +38.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.51% | 37.27% | +38.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 75.51% | 37.27% | +38.24% |
XRPI vs. MSBT - Expense Ratio Comparison
XRPI has a 0.94% expense ratio, which is higher than MSBT's 0.14% expense ratio.
Dividends
XRPI vs. MSBT - Dividend Comparison
XRPI's dividend yield for the trailing twelve months is around 4.56%, while MSBT has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
MSBT Morgan Stanley Bitcoin Trust | 0.00% | 0.00% |
XRPI Volatility Shares XRP ETF | 4.56% | 1.54% |
Frequently Asked Questions
XRPI and MSBT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
MSBT is cheaper with a 0.14% expense ratio, compared with 0.94% for XRPI.
XRPI has the higher dividend yield at 4.56%, compared with 0.00% for MSBT.
They also come from different issuers: Volatility Shares and Morgan Stanley. Their fees differ too: 0.94% for XRPI and 0.14% for MSBT.
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