BITQ vs. DAPP

Last updated Jun 24, 2026

BITQ (Bitwise Crypto Industry Innovators ETF) and DAPP (VanEck Digital Transformation ETF) are both Blockchain funds - BITQ tracks the Bitwise Crypto Innovators 30 Index while DAPP tracks the MVIS Global Digital Assets Equity Index. Both are passively managed. Over the past 5 years, BITQ returned 4.41%/yr vs -0.51%/yr for DAPP. With a 0.99 correlation, they move nearly in lockstep. BITQ charges 0.85%/yr vs 0.52%/yr for DAPP.

Performance

BITQ vs. DAPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Crypto Industry Innovators ETF (BITQ) and VanEck Digital Transformation ETF (DAPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITQ achieves a 34.62% return, which is significantly higher than DAPP's 29.28% return.

BITQ

• 1D: -2.61%
• 1M: 0.04%
• YTD: 34.62%
• 6M: 25.61%
• 1Y: 49.39%
• 3Y*: 53.03%
• 5Y*: 4.41%
• 10Y*: —

DAPP

• 1D: -2.33%
• 1M: 0.47%
• YTD: 29.28%
• 6M: 20.33%
• 1Y: 41.24%
• 3Y*: 50.55%
• 5Y*: -0.51%
• 10Y*: —

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

BITQ vs. DAPP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	34.62%	18.00%	46.97%	246.83%	-83.86%	-11.98%
DAPP VanEck Digital Transformation ETF	29.28%	15.03%	44.87%	285.02%	-85.60%	-23.43%

Correlation

The correlation between BITQ and DAPP is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since May 12, 2021	0.99

The correlation between BITQ and DAPP has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

BITQ vs. DAPP - Sectors Allocation Comparison

Sectors	BITQ	DAPP
Financial Services	71.6%	62.8%
Technology	25.5%	34.7%
Consumer Cyclical	2.9%	2.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

BITQ vs. DAPP — Risk / Return Rank

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

BITQ

BITQ Risk / Return Rank: 25
BITQ Sharpe Ratio Rank: 25
BITQ Sortino Ratio Rank: 28
BITQ Omega Ratio Rank: 25
BITQ Calmar Ratio Rank: 24
BITQ Martin Ratio Rank: 20

DAPP

DAPP Risk / Return Rank: 20
DAPP Sharpe Ratio Rank: 20
DAPP Sortino Ratio Rank: 24
DAPP Omega Ratio Rank: 22
DAPP Calmar Ratio Rank: 20
DAPP Martin Ratio Rank: 17

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.

BITQ vs. DAPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and VanEck Digital Transformation ETF (DAPP). 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.

	BITQ	DAPP	Difference
Sharpe ratio: Return per unit of total volatility	0.87	0.67	+0.20
Sortino ratio: Return per unit of downside risk	1.47	1.27	+0.19
Omega ratio: Gain probability vs. loss probability	1.17	1.15	+0.02
Calmar ratio: Return relative to maximum drawdown	1.10	0.86	+0.24
Martin ratio: Return relative to average drawdown	2.30	1.65	+0.65

BITQ vs. DAPP - Sharpe Ratio Comparison

The current BITQ Sharpe Ratio is 0.87, which is higher than the DAPP Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of BITQ and DAPP, 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

BITQ vs. DAPP - Drawdown Comparison

The maximum BITQ drawdown since its inception was -90.32%, roughly equal to the maximum DAPP drawdown of -92.61%. Use the drawdown chart below to compare losses from any high point for BITQ and DAPP.

Drawdown Indicators

	BITQ	DAPP	Difference
Max Drawdown Largest peak-to-trough decline	-90.32%	-92.61%	+2.29%
Max Drawdown (1Y) Largest decline over 1 year	-44.99%	-48.21%	+3.22%
Max Drawdown (3Y) Largest decline over 3 years	-51.22%	-58.88%	+7.66%
Max Drawdown (5Y) Largest decline over 5 years	-90.32%	-91.90%	+1.58%
Current Drawdown Current decline from peak	-17.24%	-35.35%	+18.11%
Average Drawdown Average peak-to-trough decline	-52.52%	-61.14%	+8.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.50%	24.99%	-3.49%

Volatility

BITQ vs. DAPP - Volatility Comparison

The current volatility for Bitwise Crypto Industry Innovators ETF (BITQ) is 16.45%, while VanEck Digital Transformation ETF (DAPP) has a volatility of 17.54%. This indicates that BITQ experiences smaller price fluctuations and is considered to be less risky than DAPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITQ	DAPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.45%	17.54%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	43.05%	46.50%	-3.45%
Volatility (1Y) Calculated over the trailing 1-year period	56.94%	62.15%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.32%	73.12%	-5.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.24%	72.78%	-5.54%

BITQ vs. DAPP - Expense Ratio Comparison

BITQ has a 0.85% expense ratio, which is higher than DAPP's 0.52% expense ratio.

Dividends

BITQ vs. DAPP - Dividend Comparison

Neither BITQ nor DAPP has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	0.00%	0.00%	0.90%	1.51%	0.00%	3.12%
DAPP VanEck Digital Transformation ETF	0.00%	0.00%	4.04%	0.00%	0.00%	10.13%

Frequently Asked Questions

Can I hold both BITQ and DAPP in my portfolio?

With a correlation of 0.99, BITQ and DAPP 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, BITQ or DAPP?

DAPP has higher volatility (17.54%) compared to BITQ (16.45%). In terms of maximum drawdown, BITQ dropped -90.32% vs DAPP's -92.61%.

Which ETF is better, BITQ or DAPP?

On 5-year performance, BITQ leads with 4.41% vs -0.51% for DAPP. On fees, DAPP is cheaper at 0.52% per year. On volatility, BITQ has been the lower-risk option at 16.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITQ or DAPP?

Over the 5-year period, BITQ has performed better with a 4.41% return vs -0.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITQ or DAPP?

DAPP is cheaper with a 0.52% expense ratio, compared with 0.85% for BITQ.

Which ETF pays a higher dividend yield, BITQ or DAPP?

BITQ and DAPP have nearly identical dividend yields, around 0.00%.

What is the main difference between BITQ and DAPP?

BITQ tracks Bitwise Crypto Innovators 30 Index, while DAPP tracks MVIS Global Digital Assets Equity Index. They also come from different issuers: Bitwise and VanEck. Their fees differ too: 0.85% for BITQ and 0.52% for DAPP.

Which has better risk-adjusted returns?

BITQ currently has the higher Sharpe Ratio (0.87 vs 0.67), 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.