DAPP vs. SSPY

Last updated Jun 4, 2026

DAPP (VanEck Digital Transformation ETF) and SSPY (Stratified LargeCap Index ETF) are both exchange-traded funds - DAPP is a Technology Equities fund tracking the MVIS Global Digital Assets Equity Index, while SSPY is a Large Cap Blend Equities fund tracking the Syntax Stratified LargeCap Index. Both are passively managed. Over the past year, DAPP returned 55.85% vs 20.61% for SSPY. At a 0.48 correlation, their price movements are largely independent. DAPP charges 0.50%/yr vs 0.45%/yr for SSPY.

Performance

DAPP vs. SSPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Digital Transformation ETF (DAPP) and Stratified LargeCap Index ETF (SSPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAPP achieves a 33.03% return, which is significantly higher than SSPY's 10.14% return.

DAPP

• 1D: -2.57%
• 1M: 10.45%
• YTD: 33.03%
• 6M: 15.86%
• 1Y: 55.85%
• 3Y*: 57.26%
• 5Y*: -0.16%
• 10Y*: —

SSPY

• 1D: -0.30%
• 1M: 3.36%
• YTD: 10.14%
• 6M: 10.60%
• 1Y: 20.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DAPP vs. SSPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DAPP VanEck Digital Transformation ETF	33.03%	15.03%	26.64%
SSPY Stratified LargeCap Index ETF	10.14%	12.88%	-0.90%

Correlation

The correlation between DAPP and SSPY is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.48

DAPP vs. SSPY - Sectors Allocation Comparison

Sectors	DAPP	SSPY
Financial Services	68.5%	10.4%
Technology	28.8%	17.8%
Consumer Cyclical	2.7%	13.0%
Basic Materials	-	2.6%
Communication Services	-	6.2%
Consumer Defensive	-	12.1%
Energy	-	6.4%
Healthcare	-	11.8%
Industrials	-	10.5%
Real Estate	-	3.4%
Utilities	-	5.9%

Return for Risk

DAPP vs. SSPY — Risk / Return Rank

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

DAPP

DAPP Risk / Return Rank: 25
DAPP Sharpe Ratio Rank: 25
DAPP Sortino Ratio Rank: 28
DAPP Omega Ratio Rank: 26
DAPP Calmar Ratio Rank: 24
DAPP Martin Ratio Rank: 20

SSPY

SSPY Risk / Return Rank: 59
SSPY Sharpe Ratio Rank: 57
SSPY Sortino Ratio Rank: 61
SSPY Omega Ratio Rank: 56
SSPY Calmar Ratio Rank: 57
SSPY Martin Ratio Rank: 61

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. SSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Digital Transformation ETF (DAPP) and Stratified LargeCap Index ETF (SSPY). 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.

	DAPP	SSPY	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.95	-1.04
Sortino ratio: Return per unit of downside risk	1.54	2.88	-1.35
Omega ratio: Gain probability vs. loss probability	1.18	1.35	-0.17
Calmar ratio: Return relative to maximum drawdown	1.16	2.83	-1.66
Martin ratio: Return relative to average drawdown	2.28	10.88	-8.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DAPP vs. SSPY - Sharpe Ratio Comparison

The current DAPP Sharpe Ratio is 0.91, which is lower than the SSPY Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of DAPP and SSPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DAPP	SSPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	1.95	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	0.92	-0.99

Drawdowns

DAPP vs. SSPY - Drawdown Comparison

The maximum DAPP drawdown since its inception was -91.90%, which is greater than SSPY's maximum drawdown of -16.16%. Use the drawdown chart below to compare losses from any high point for DAPP and SSPY.

Drawdown Indicators

	DAPP	SSPY	Difference
Max Drawdown Largest peak-to-trough decline	-91.90%	-16.16%	-75.74%
Max Drawdown (1Y) Largest decline over 1 year	-48.21%	-7.32%	-40.89%
Max Drawdown (3Y) Largest decline over 3 years	-58.88%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-91.90%	—	—
Current Drawdown Current decline from peak	-27.06%	-0.30%	-26.76%
Average Drawdown Average peak-to-trough decline	-57.42%	-2.32%	-55.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.56%	1.90%	+22.66%

Volatility

DAPP vs. SSPY - Volatility Comparison

VanEck Digital Transformation ETF (DAPP) has a higher volatility of 15.49% compared to Stratified LargeCap Index ETF (SSPY) at 2.44%. This indicates that DAPP's price experiences larger fluctuations and is considered to be riskier than SSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAPP	SSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.49%	2.44%	+13.05%
Volatility (6M) Calculated over the trailing 6-month period	46.31%	7.62%	+38.69%
Volatility (1Y) Calculated over the trailing 1-year period	61.71%	10.63%	+51.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.90%	14.55%	+58.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.64%	14.55%	+58.09%

DAPP vs. SSPY - Expense Ratio Comparison

DAPP has a 0.50% expense ratio, which is higher than SSPY's 0.45% expense ratio.

Dividends

DAPP vs. SSPY - Dividend Comparison

DAPP has not paid dividends to shareholders, while SSPY's dividend yield for the trailing twelve months is around 1.26%.

Position	TTM	2025	2024	2023	2022	2021
DAPP VanEck Digital Transformation ETF	0.00%	0.00%	4.04%	0.00%	0.00%	10.13%
SSPY Stratified LargeCap Index ETF	1.26%	1.38%	0.35%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DAPP and SSPY in my portfolio?

DAPP and SSPY have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAPP or SSPY?

DAPP has higher volatility (15.49%) compared to SSPY (2.44%). In terms of maximum drawdown, DAPP dropped -91.90% vs SSPY's -16.16%.

Which ETF is better, DAPP or SSPY?

On 1-year performance, DAPP leads with 55.85% vs 20.61% for SSPY. On fees, SSPY is cheaper at 0.45% per year. On volatility, SSPY has been the lower-risk option at 2.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAPP or SSPY?

Over the 1-year period, DAPP has performed better with a 55.85% return vs 20.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAPP or SSPY?

SSPY is cheaper with a 0.45% expense ratio, compared with 0.50% for DAPP.

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

SSPY has the higher dividend yield at 1.26%, compared with 0.00% for DAPP.

What is the main difference between DAPP and SSPY?

DAPP is categorized as Technology Equities, while SSPY is Large Cap Blend Equities. DAPP tracks MVIS Global Digital Assets Equity Index, while SSPY tracks Syntax Stratified LargeCap Index. They also come from different issuers: VanEck and Exchange Traded Concepts. Their fees differ too: 0.50% for DAPP and 0.45% for SSPY.

Which has better risk-adjusted returns?

SSPY currently has the higher Sharpe Ratio (1.95 vs 0.91), 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.