DAPP vs. MSTR
DAPP (VanEck Digital Transformation ETF) is Blockchain fund tracking the MVIS Global Digital Assets Equity Index, while MSTR (Strategy Inc) is a stock. Over the past 5 years, DAPP returned -3.48%/yr vs 8.30%/yr for MSTR. Their 0.80 correlation means they have sometimes moved together and sometimes differently.
Performance
DAPP vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, DAPP achieves a 6.65% return, which is significantly higher than MSTR's -38.61% return.
DAPP
- 1D
- -3.40%
- 1M
- -4.60%
- 6M
- -2.22%
- YTD
- 6.65%
- 1Y
- 9.98%
- 3Y*
- 30.75%
- 5Y*
- -3.48%
- 10Y*
- —
- ALL TIME*
- -11.19%
MSTR
- 1D
- -4.56%
- 1M
- -7.43%
- 6M
- -37.69%
- YTD
- -38.61%
- 1Y
- -74.56%
- 3Y*
- 28.96%
- 5Y*
- 8.30%
- 10Y*
- 18.75%
- ALL TIME*
- 9.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.30M | $5.85M | $16.14M | |
MSTR Strategy Inc | $1.53B | $1.65B | $2.43B |
DAPP vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DAPP VanEck Digital Transformation ETF | 6.65% | 15.03% | 44.87% | 285.02% | -85.60% | -45.88% |
MSTR Strategy Inc | -38.61% | -47.53% | 358.54% | 346.15% | -74.00% | -35.83% |
Correlation
The correlation between DAPP and MSTR is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2021 | 0.80 |
The correlation between DAPP and MSTR has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.
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Return for Risk
DAPP vs. MSTR — Risk / Return Rank
DAPP
MSTR
DAPP vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Digital Transformation ETF (DAPP) and Strategy Inc (MSTR). 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 | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +2.67 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.78 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.97 | +0.98 |
| Martin ratioReturn relative to average drawdown | 0.03 | -1.38 | +1.41 |
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Drawdowns
DAPP vs. MSTR - Drawdown Comparison
The maximum DAPP drawdown since its inception was -92.61%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for DAPP and MSTR.
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Drawdown Indicators
| DAPP | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.61% | -99.86% | +7.25% |
Max Drawdown (1Y)Largest decline over 1 year | -48.21% | -79.53% | +31.32% |
Max Drawdown (3Y)Largest decline over 3 years | -58.88% | -82.63% | +23.75% |
Max Drawdown (5Y)Largest decline over 5 years | -91.90% | -84.11% | -7.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.27% | — |
Current DrawdownCurrent decline from peak | -46.67% | -80.31% | +33.64% |
Average DrawdownAverage peak-to-trough decline | -60.79% | -86.42% | +25.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.69% | 55.64% | -28.95% |
Volatility
DAPP vs. MSTR - Volatility Comparison
VanEck Digital Transformation ETF (DAPP) has a higher volatility of 21.95% compared to Strategy Inc (MSTR) at 18.58%. This indicates that DAPP's price experiences larger fluctuations and is considered to be riskier than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DAPP | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.95% | 18.58% | +3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 47.95% | 60.57% | -12.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.80% | 75.24% | -10.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.12% | 89.94% | -16.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.72% | 74.33% | -1.61% |
Dividends
DAPP vs. MSTR - Dividend Comparison
Neither DAPP nor MSTR 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% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DAPP and MSTR have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAPP has higher volatility (21.95%) compared to MSTR (18.58%). In terms of maximum drawdown, DAPP dropped -92.61% vs MSTR's -99.86%.
DAPP currently has the higher Sharpe Ratio (0.01 vs -1.02), 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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