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Kalshi (Tessera Pre-IPO) vs BlackRock USD Institutional Digital Liquidity Fund

BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is 2833.2× the size of Kalshi (Tessera Pre-IPO) (TKALSHI) by market capitalisation. Over the past 30 days, TKALSHI is ahead by 2.7 percentage points (TKALSHI +2.7% against BUIDL +0.0%). Both have run at a similar volatility, around 12% annualised.

Size ratio
1 : 2833.2
Ahead over 30 days
TKALSHI
Kalshi (Tessera Pre-IPO)TKALSHI

$450.3000

24h
+0.02%
Market cap
$701,500
Volume 24h
$204,630
Volatility (ann.)
25%
BlackRock USD Institutional Digital Liquidity FundBUIDL

$1.0000

24h
+0.00%
Market cap
$1.99B
Volume 24h
—
Volatility (ann.)
0%
TKALSHI 0.0%Share of the two combined market caps100.0% BUIDL

Performance

TKALSHIBUIDL

  1. 7 days+0.80%+0.00%TKALSHI
  2. 30 days+2.66%+0.00%TKALSHI

Risk & extremes

MetricTKALSHIBUIDL
Max drawdown (400d)-2.5%0.0%
Risk-adjusted return (90d)0.27—

Relative strength over 90 days: TKALSHI outperformed BUIDL by 6.6% — measured on the TKALSHI/BUIDL ratio, so it holds regardless of market direction.

Kalshi (Tessera Pre-IPO) →BlackRock USD Institutional Digital Liquidity Fund →