BETE vs. HODL

Last updated Jul 18, 2026

BETE (Proshares Bitcoin & Ether Equal Weight Strategy ETF) and HODL (VanEck Bitcoin Trust) are both Cryptocurrency funds. Over the past year, BETE returned -47.08% vs -46.17% for HODL. Their correlation of 0.93 suggests significant overlap in exposure. BETE charges 0.95%/yr vs 0.25%/yr for HODL.

Performance

BETE vs. HODL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and VanEck Bitcoin Trust (HODL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETE achieves a -34.01% return, which is significantly lower than HODL's -26.69% return.

BETE

• 1D: -0.93%
• 1M: 2.98%
• 6M: -39.69%
• YTD: -34.01%
• 1Y: -47.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HODL

• 1D: -0.17%
• 1M: -0.11%
• 6M: -32.93%
• YTD: -26.69%
• 1Y: -46.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BETE vs. HODL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	-34.01%	-8.17%	54.12%
HODL VanEck Bitcoin Trust	-26.69%	-6.42%	91.50%

Correlation

The correlation between BETE and HODL is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.93

The correlation between BETE and HODL has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

BETE vs. HODL — Risk / Return Rank

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

BETE

BETE Risk / Return Rank: 3
BETE Sharpe Ratio Rank: 3
BETE Sortino Ratio Rank: 3
BETE Omega Ratio Rank: 3
BETE Calmar Ratio Rank: 3
BETE Martin Ratio Rank: 3

HODL

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

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.

BETE vs. HODL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and VanEck Bitcoin Trust (HODL). 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.

	BETE	HODL	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	-1.05	+0.19
Sortino ratio: Return per unit of downside risk	-1.20	-1.59	+0.39
Omega ratio: Gain probability vs. loss probability	0.87	0.82	+0.04
Calmar ratio: Return relative to maximum drawdown	-0.76	-0.87	+0.11
Martin ratio: Return relative to average drawdown	-1.21	-1.39	+0.19

BETE vs. HODL - Sharpe Ratio Comparison

The current BETE Sharpe Ratio is -0.86, which is comparable to the HODL Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of BETE and HODL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETE vs. HODL - Drawdown Comparison

The maximum BETE drawdown since its inception was -61.75%, which is greater than HODL's maximum drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for BETE and HODL.

Drawdown Indicators

	BETE	HODL	Difference
Max Drawdown Largest peak-to-trough decline	-61.75%	-53.20%	-8.55%
Max Drawdown (1Y) Largest decline over 1 year	-61.75%	-53.20%	-8.55%
Current Drawdown Current decline from peak	-56.73%	-48.92%	-7.81%
Average Drawdown Average peak-to-trough decline	-22.98%	-17.69%	-5.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.07%	33.19%	+5.88%

Volatility

BETE vs. HODL - Volatility Comparison

Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) has a higher volatility of 12.69% compared to VanEck Bitcoin Trust (HODL) at 10.67%. This indicates that BETE's price experiences larger fluctuations and is considered to be riskier than HODL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETE	HODL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.69%	10.67%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	40.62%	34.56%	+6.06%
Volatility (1Y) Calculated over the trailing 1-year period	55.23%	44.14%	+11.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.28%	49.55%	+6.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.28%	49.55%	+6.73%

BETE vs. HODL - Expense Ratio Comparison

BETE has a 0.95% expense ratio, which is higher than HODL's 0.25% expense ratio.

Dividends

BETE vs. HODL - Dividend Comparison

BETE's dividend yield for the trailing twelve months is around 79.06%, while HODL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	79.06%	68.22%	15.22%	0.78%
HODL VanEck Bitcoin Trust	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BETE and HODL in my portfolio?

With a correlation of 0.95, BETE and HODL 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 is riskier, BETE or HODL?

BETE has higher volatility (12.69%) compared to HODL (10.67%). In terms of maximum drawdown, BETE dropped -61.75% vs HODL's -53.20%.

Which ETF is better, BETE or HODL?

On 1-year performance, HODL leads with -46.17% vs -47.08% for BETE. On fees, HODL is cheaper at 0.25% per year. On volatility, HODL has been the lower-risk option at 10.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETE or HODL?

Over the 1-year period, HODL has performed better with a -46.17% return vs -47.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETE or HODL?

HODL is cheaper with a 0.25% expense ratio, compared with 0.95% for BETE.

Which ETF pays a higher dividend yield, BETE or HODL?

BETE has the higher dividend yield at 79.06%, compared with 0.00% for HODL.

What is the main difference between BETE and HODL?

They also come from different issuers: ProShares and VanEck. Their fees differ too: 0.95% for BETE and 0.25% for HODL.

Which has better risk-adjusted returns?

BETE currently has the higher Sharpe Ratio (-0.86 vs -1.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.