DAPP vs. MARA
DAPP (VanEck Digital Transformation ETF) is Technology Equities fund tracking the MVIS Global Digital Assets Equity Index, while MARA (MARA Holdings, Inc.) is a stock. Over the past 5 years, DAPP returned -0.86%/yr vs -12.51%/yr for MARA. Their correlation of 0.87 suggests significant overlap in exposure.
Performance
DAPP vs. MARA - Performance Comparison
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Returns By Period
In the year-to-date period, DAPP achieves a 25.17% return, which is significantly lower than MARA's 51.56% return.
DAPP
- 1D
- 6.87%
- 1M
- -4.74%
- YTD
- 25.17%
- 6M
- 4.13%
- 1Y
- 38.49%
- 3Y*
- 57.49%
- 5Y*
- -0.86%
- 10Y*
- —
MARA
- 1D
- 7.84%
- 1M
- 7.00%
- YTD
- 51.56%
- 6M
- 14.95%
- 1Y
- -16.76%
- 3Y*
- 13.41%
- 5Y*
- -12.51%
- 10Y*
- -10.54%
DAPP vs. MARA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DAPP VanEck Digital Transformation ETF | 25.17% | 15.03% | 44.87% | 285.02% | -85.60% | -45.88% |
MARA MARA Holdings, Inc. | 51.56% | -46.45% | -28.61% | 586.84% | -89.59% | -35.57% |
Correlation
The correlation between DAPP and MARA is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2021 | 0.87 |
The correlation between DAPP and MARA has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.
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Return for Risk
DAPP vs. MARA — Risk / Return Rank
DAPP
MARA
DAPP vs. MARA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Digital Transformation ETF (DAPP) and MARA Holdings, Inc. (MARA). 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 | MARA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.03 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | -0.24 | +1.04 |
| Martin ratioReturn relative to average drawdown | 1.56 | -0.40 | +1.95 |
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Drawdowns
DAPP vs. MARA - Drawdown Comparison
The maximum DAPP drawdown since its inception was -92.61%, smaller than the maximum MARA drawdown of -99.74%. Use the drawdown chart below to compare losses from any high point for DAPP and MARA.
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Drawdown Indicators
| DAPP | MARA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.61% | -99.74% | +7.13% |
Max Drawdown (1Y)Largest decline over 1 year | -48.21% | -70.53% | +22.32% |
Max Drawdown (3Y)Largest decline over 3 years | -58.88% | -78.34% | +19.46% |
Max Drawdown (5Y)Largest decline over 5 years | -91.90% | -95.87% | +3.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.20% | — |
Current DrawdownCurrent decline from peak | -37.41% | -91.20% | +53.79% |
Average DrawdownAverage peak-to-trough decline | -61.28% | -78.00% | +16.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.81% | 42.52% | -17.71% |
Volatility
DAPP vs. MARA - Volatility Comparison
The current volatility for VanEck Digital Transformation ETF (DAPP) is 19.25%, while MARA Holdings, Inc. (MARA) has a volatility of 23.52%. This indicates that DAPP experiences smaller price fluctuations and is considered to be less risky than MARA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DAPP | MARA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.25% | 23.52% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 47.92% | 60.48% | -12.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.53% | 79.23% | -16.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.13% | 106.02% | -32.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.92% | 144.15% | -71.23% |
Dividends
DAPP vs. MARA - Dividend Comparison
Neither DAPP nor MARA has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DAPP VanEck Digital Transformation ETF | 0.00% | 0.00% | 4.04% | 0.00% | 0.00% | 10.13% |
MARA MARA Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DAPP and MARA have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MARA has higher volatility (23.52%) compared to DAPP (19.25%). In terms of maximum drawdown, DAPP dropped -92.61% vs MARA's -99.74%.
DAPP currently has the higher Sharpe Ratio (0.62 vs -0.21), 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.
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