DAPP vs. BITQ

Last updated Jun 24, 2026

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

Performance

DAPP vs. BITQ - Performance Comparison

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

Returns By Period

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

DAPP

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

BITQ

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

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

DAPP vs. BITQ - Yearly Performance Comparison

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

Correlation

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

DAPP vs. BITQ - Sectors Allocation Comparison

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

Return for Risk

DAPP vs. BITQ — Risk / Return Rank

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

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

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

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.

DAPP vs. BITQ - Risk-Adjusted Trends Comparison

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

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

DAPP vs. BITQ - Sharpe Ratio Comparison

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

DAPP vs. BITQ - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

DAPP vs. BITQ - Volatility Comparison

VanEck Digital Transformation ETF (DAPP) has a higher volatility of 17.54% compared to Bitwise Crypto Industry Innovators ETF (BITQ) at 16.45%. This indicates that DAPP's price experiences larger fluctuations and is considered to be riskier than BITQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

DAPP vs. BITQ - Expense Ratio Comparison

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

Dividends

DAPP vs. BITQ - Dividend Comparison

Neither DAPP nor BITQ 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 DAPP and BITQ in my portfolio?

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

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

Which ETF is better, DAPP or BITQ?

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, DAPP or BITQ?

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, DAPP or BITQ?

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

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

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

What is the main difference between DAPP and BITQ?

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

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.