XRPT vs. MSBT

Last updated Jun 5, 2026

XRPT (Volatility Shares 2x XRP ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. XRPT is actively managed, while MSBT is passively managed. Their correlation of 0.85 suggests significant overlap in exposure. XRPT charges 0.94%/yr vs 0.14%/yr for MSBT.

Performance

XRPT vs. MSBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares 2x XRP ETF (XRPT) and Morgan Stanley Bitcoin Trust (MSBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XRPT

• 1D: -4.67%
• 1M: -33.40%
• YTD: -70.47%
• 6M: -78.42%
• 1Y: -88.46%
• 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)

XRPT vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
XRPT Volatility Shares 2x XRP ETF	-28.31%
MSBT Morgan Stanley Bitcoin Trust	-10.94%

Correlation

The correlation between XRPT and MSBT is 0.85, 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 9, 2026	0.85

Return for Risk

XRPT vs. MSBT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XRPT

XRPT Risk / Return Rank: 3
XRPT Sharpe Ratio Rank: 4
XRPT Sortino Ratio Rank: 3
XRPT Omega Ratio Rank: 3
XRPT Calmar Ratio Rank: 1
XRPT Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XRPT vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x XRP ETF (XRPT) 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.

	XRPT	MSBT	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	—	—
Sortino ratio: Return per unit of downside risk	-1.02	—	—
Omega ratio: Gain probability vs. loss probability	0.89	—	—
Calmar ratio: Return relative to maximum drawdown	-0.93	—	—
Martin ratio: Return relative to average drawdown	-1.25	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XRPT	MSBT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.60	-1.58	+0.98

Drawdowns

XRPT vs. MSBT - Drawdown Comparison

The maximum XRPT drawdown since its inception was -95.02%, which is greater than MSBT's maximum drawdown of -22.46%. Use the drawdown chart below to compare losses from any high point for XRPT and MSBT.

Drawdown Indicators

	XRPT	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-95.02%	-22.46%	-72.56%
Max Drawdown (1Y) Largest decline over 1 year	-95.02%	—	—
Current Drawdown Current decline from peak	-95.02%	-22.46%	-72.56%
Average Drawdown Average peak-to-trough decline	-63.11%	-4.38%	-58.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	70.46%	—	—

Volatility

Volatility by Period

	XRPT	MSBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	104.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	150.33%	33.13%	+117.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	149.19%	33.13%	+116.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	149.19%	33.13%	+116.06%

XRPT vs. MSBT - Expense Ratio Comparison

XRPT has a 0.94% expense ratio, which is higher than MSBT's 0.14% expense ratio.

Dividends

XRPT vs. MSBT - Dividend Comparison

XRPT's dividend yield for the trailing twelve months is around 5.26%, while MSBT has not paid dividends to shareholders.

Position	TTM	2025
MSBT Morgan Stanley Bitcoin Trust	0.00%	0.00%
XRPT Volatility Shares 2x XRP ETF	5.26%	1.23%

Frequently Asked Questions

Can I hold both XRPT and MSBT in my portfolio?

XRPT and MSBT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XRPT 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, XRPT or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.94% for XRPT.

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

XRPT has the higher dividend yield at 5.26%, compared with 0.00% for MSBT.

What is the main difference between XRPT and MSBT?

They also come from different issuers: Volatility Shares and Morgan Stanley. Their fees differ too: 0.94% for XRPT and 0.14% for MSBT.