Grayscale Bitcoin Miners ETF (MNRS) Performance
MNRS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −56.2% since Dec 31, 2025
- 1 year
- −71.4% total return
- Since first price
- −50.7% since 2025
MNRS trailing returns vs SPY, QQQ, AGG
| Period | MNRS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −16.6% | −16.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −65.7% | −65.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −64.0% | −64.0% | +7.8% | +8.4% | −1.5% |
| YTD | −56.2% | −56.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −71.4% | −71.5% | +14.4% | +15.9% | −1.1% |
| Since inceptionJan 30, 2025 | −50.7% | −51.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MNRS vs SPY
From Jan 30, 2025: MNRS grew to $4,930, SPY to $12,807.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MNRS returns by calendar year
2026 is year to date.
MNRS annual returns table
| Year | MNRS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −56.2% | −74.3% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MNRS largest drawdowns
Now 75.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 15, 2025 | −75.9% | Oct 23, 2026 | not yet | 1.0 years | 1.0 years so far |
| Feb 14, 2025 | −45.3% | Apr 8, 2025 | Jul 2, 2025 | 53 days | 5 months |
| Jul 22, 2025 | −15.2% | Aug 1, 2025 | Aug 26, 2025 | 10 days | 35 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MNRS risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −29.6% |
| Volatility (annualized) | 85.7% |
| Sharpe ratio | -0.00 |
| Sortino ratio | -0.00 |
| Best month | +41.5% |
| Worst month | −55.0% |
| Best 12 months | +146.9% |
| Worst 12 months | −63.7% |
| Positive months | 50% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MNRS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 10 | −72.3% | +34.5% | +146.9% | 80% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
MNRS performance overview
Grayscale Bitcoin Miners ETF (MNRS) returned −71.4% over the past year, with distributions reinvested. Since its first recorded price on Jan 30, 2025 it has returned −50.7%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −75.9%, from Oct 15, 2025 to Oct 23, 2026; the fund has not yet regained that high. Volatility has been 85.7% a year.
Related: MNRS chart, MNRS holdings, MNRS dividends. See the MNRS overview for the latest quote and fund facts.
MNRS performance FAQ
What is the MNRS return over the past year?
MNRS returned −71.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 71.5%.
How much would $10,000 invested in MNRS be worth?
$10,000 invested in MNRS at its first recorded close on January 30, 2025 would be worth about $4,930 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of MNRS?
The largest peak-to-trough decline was −75.9% between October 15, 2025 and October 23, 2026. It has not yet recovered to that high; it is 75.9% below its peak.
How volatile is MNRS?
Over the past history MNRS had an annualized volatility of 85.7% and a Sharpe ratio of -0.00 (excess return over 1–3 month T-bills per unit of risk).