YBIT vs. MSBT

Last updated Jun 24, 2026

YBIT (YieldMax Bitcoin Option Income Strategy ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. YBIT is actively managed, while MSBT is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. YBIT charges 0.99%/yr vs 0.14%/yr for MSBT.

Performance

YBIT vs. MSBT - Performance Comparison

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

Returns By Period

YBIT

• 1D: -1.93%
• 1M: -14.55%
• YTD: -26.58%
• 6M: -26.68%
• 1Y: -35.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: -3.30%
• 1M: -17.76%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YBIT vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
YBIT YieldMax Bitcoin Option Income Strategy ETF	-9.68%
MSBT Morgan Stanley Bitcoin Trust	-14.09%

Correlation

The correlation between YBIT and MSBT is 0.92, 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	0.92

Return for Risk

YBIT vs. MSBT — Risk / Return Rank

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

YBIT

YBIT Risk / Return Rank: 2
YBIT Sharpe Ratio Rank: 1
YBIT Sortino Ratio Rank: 2
YBIT Omega Ratio Rank: 2
YBIT Calmar Ratio Rank: 3
YBIT Martin Ratio Rank: 2

MSBT

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

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.

YBIT vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Bitcoin Option Income Strategy ETF (YBIT) 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.

	YBIT	MSBT	Difference
Sharpe ratio: Return per unit of total volatility	-0.97	—	—
Sortino ratio: Return per unit of downside risk	-1.33	—	—
Omega ratio: Gain probability vs. loss probability	0.84	—	—
Calmar ratio: Return relative to maximum drawdown	-0.75	—	—
Martin ratio: Return relative to average drawdown	-1.33	—	—

Drawdowns

YBIT vs. MSBT - Drawdown Comparison

The maximum YBIT drawdown since its inception was -47.30%, which is greater than MSBT's maximum drawdown of -26.46%. Use the drawdown chart below to compare losses from any high point for YBIT and MSBT.

Drawdown Indicators

	YBIT	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-47.30%	-26.46%	-20.84%
Max Drawdown (1Y) Largest decline over 1 year	-47.30%	—	—
Current Drawdown Current decline from peak	-44.60%	-23.99%	-20.61%
Average Drawdown Average peak-to-trough decline	-15.80%	-8.48%	-7.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.71%	—	—

Volatility

Volatility by Period

	YBIT	MSBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	29.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	36.69%	37.06%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.66%	37.06%	+1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.66%	37.06%	+1.60%

YBIT vs. MSBT - Expense Ratio Comparison

YBIT has a 0.99% expense ratio, which is higher than MSBT's 0.14% expense ratio.

Dividends

YBIT vs. MSBT - Dividend Comparison

YBIT's dividend yield for the trailing twelve months is around 100.08%, while MSBT has not paid dividends to shareholders.

Position	TTM	2025	2024
MSBT Morgan Stanley Bitcoin Trust	0.00%	0.00%	0.00%
YBIT YieldMax Bitcoin Option Income Strategy ETF	100.08%	88.33%	60.00%

Frequently Asked Questions

Can I hold both YBIT and MSBT in my portfolio?

With a correlation of 0.92, YBIT 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 is better, YBIT 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, YBIT or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.99% for YBIT.

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

YBIT has the higher dividend yield at 100.08%, compared with 0.00% for MSBT.

What is the main difference between YBIT and MSBT?

They also come from different issuers: YieldMax and Morgan Stanley. Their fees differ too: 0.99% for YBIT and 0.14% for MSBT.