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 -1.78%/yr vs 10.45%/yr for MSTR. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
DAPP vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, DAPP achieves a 8.11% return, which is significantly higher than MSTR's -39.39% return.
DAPP
- 1D
- -4.08%
- 1M
- -15.23%
- 6M
- -9.24%
- YTD
- 8.11%
- 1Y
- 1.88%
- 3Y*
- 26.91%
- 5Y*
- -1.78%
- 10Y*
- —
MSTR
- 1D
- -2.68%
- 1M
- -25.71%
- 6M
- -43.23%
- YTD
- -39.39%
- 1Y
- -78.81%
- 3Y*
- 26.14%
- 5Y*
- 10.45%
- 10Y*
- 17.27%
DAPP vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DAPP VanEck Digital Transformation ETF | 8.11% | 15.03% | 44.87% | 285.02% | -85.60% | -45.88% |
MSTR Strategy Inc | -39.39% | -47.53% | 358.54% | 346.15% | -74.00% | -35.83% |
Correlation
The correlation between DAPP and MSTR is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year 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 0.70 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 | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +2.87 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.76 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.04 | -0.96 | +1.00 |
| Martin ratioReturn relative to average drawdown | 0.07 | -1.38 | +1.45 |
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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% | -81.95% | +33.74% |
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 | -45.94% | -80.56% | +34.62% |
Average DrawdownAverage peak-to-trough decline | -60.95% | -86.43% | +25.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.78% | 57.18% | -31.40% |
Volatility
DAPP vs. MSTR - Volatility Comparison
The current volatility for VanEck Digital Transformation ETF (DAPP) is 15.54%, while Strategy Inc (MSTR) has a volatility of 26.76%. This indicates that DAPP experiences smaller price fluctuations and is considered to be less risky 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 | 15.54% | 26.76% | -11.22% |
Volatility (6M)Calculated over the trailing 6-month period | 45.87% | 61.05% | -15.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.54% | 74.29% | -11.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.18% | 90.78% | -17.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.61% | 74.25% | -1.64% |
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 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (26.76%) compared to DAPP (15.54%). In terms of maximum drawdown, DAPP dropped -92.61% vs MSTR's -99.86%.
DAPP currently has the higher Sharpe Ratio (0.03 vs -1.06), 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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