DAPP vs. STCE

Last updated Jul 17, 2026

DAPP (VanEck Digital Transformation ETF) and STCE (Schwab Crypto Thematic ETF) are both Blockchain funds - DAPP tracks the MVIS Global Digital Assets Equity Index while STCE tracks the Schwab Crypto Thematic Index. Both are passively managed. Over the past 3 years, DAPP returned 26.54%/yr vs 34.02%/yr for STCE. With a 0.95 correlation, they move nearly in lockstep. DAPP charges 0.52%/yr vs 0.30%/yr for STCE.

Performance

DAPP vs. STCE - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with DAPP having a 5.14% return and STCE slightly lower at 4.92%.

DAPP

• 1D: -6.21%
• 1M: -20.68%
• 6M: -13.45%
• YTD: 5.14%
• 1Y: -6.46%
• 3Y*: 26.54%
• 5Y*: -1.21%
• 10Y*: —

STCE

• 1D: -5.43%
• 1M: -19.80%
• 6M: -13.18%
• YTD: 4.92%
• 1Y: 11.96%
• 3Y*: 34.02%
• 5Y*: —
• 10Y*: —

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

DAPP vs. STCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DAPP VanEck Digital Transformation ETF	5.14%	15.03%	44.87%	285.02%	-61.47%
STCE Schwab Crypto Thematic ETF	4.92%	36.12%	41.76%	108.65%	-40.98%

Correlation

The correlation between DAPP and STCE is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 4, 2022	0.95

The correlation between DAPP and STCE has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

DAPP vs. STCE - Sectors Allocation Comparison

Sectors	DAPP	STCE
Financial Services	62.8%	70.4%
Technology	34.7%	22.5%
Consumer Cyclical	2.5%	-
Basic Materials	-	-
Communication Services	-	7.1%
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DAPP vs. STCE — Risk / Return Rank

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

DAPP

DAPP Risk / Return Rank: 9
DAPP Sharpe Ratio Rank: 8
DAPP Sortino Ratio Rank: 11
DAPP Omega Ratio Rank: 10
DAPP Calmar Ratio Rank: 8
DAPP Martin Ratio Rank: 8

STCE

STCE Risk / Return Rank: 14
STCE Sharpe Ratio Rank: 13
STCE Sortino Ratio Rank: 16
STCE Omega Ratio Rank: 15
STCE Calmar Ratio Rank: 12
STCE Martin Ratio Rank: 11

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. STCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Digital Transformation ETF (DAPP) and Schwab Crypto Thematic ETF (STCE). 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	STCE	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	0.19	-0.30
Sortino ratio: Return per unit of downside risk	0.29	0.72	-0.42
Omega ratio: Gain probability vs. loss probability	1.03	1.08	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.13	0.22	-0.36
Martin ratio: Return relative to average drawdown	-0.25	0.38	-0.62

DAPP vs. STCE - Sharpe Ratio Comparison

The current DAPP Sharpe Ratio is -0.10, which is lower than the STCE Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of DAPP and STCE, 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. STCE - Drawdown Comparison

The maximum DAPP drawdown since its inception was -92.61%, which is greater than STCE's maximum drawdown of -54.11%. Use the drawdown chart below to compare losses from any high point for DAPP and STCE.

Drawdown Indicators

	DAPP	STCE	Difference
Max Drawdown Largest peak-to-trough decline	-92.61%	-54.11%	-38.50%
Max Drawdown (1Y) Largest decline over 1 year	-48.21%	-54.11%	+5.90%
Max Drawdown (3Y) Largest decline over 3 years	-58.88%	-54.11%	-4.77%
Max Drawdown (5Y) Largest decline over 5 years	-91.90%	—	—
Current Drawdown Current decline from peak	-47.42%	-40.89%	-6.53%
Average Drawdown Average peak-to-trough decline	-60.92%	-22.28%	-38.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.02%	31.90%	-5.88%

Volatility

DAPP vs. STCE - Volatility Comparison

VanEck Digital Transformation ETF (DAPP) has a higher volatility of 13.90% compared to Schwab Crypto Thematic ETF (STCE) at 13.11%. This indicates that DAPP's price experiences larger fluctuations and is considered to be riskier than STCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAPP	STCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.90%	13.11%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	46.23%	42.47%	+3.76%
Volatility (1Y) Calculated over the trailing 1-year period	62.60%	62.21%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.20%	55.96%	+17.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.59%	55.96%	+16.63%

DAPP vs. STCE - Expense Ratio Comparison

DAPP has a 0.52% expense ratio, which is higher than STCE's 0.30% expense ratio.

Dividends

DAPP vs. STCE - Dividend Comparison

DAPP has not paid dividends to shareholders, while STCE's dividend yield for the trailing twelve months is around 1.80%.

Position	TTM	2025	2024	2023	2022	2021
DAPP VanEck Digital Transformation ETF	0.00%	0.00%	4.04%	0.00%	0.00%	10.13%
STCE Schwab Crypto Thematic ETF	1.80%	1.96%	0.64%	0.31%	1.46%	0.00%

Frequently Asked Questions

Can I hold both DAPP and STCE in my portfolio?

With a correlation of 0.97, DAPP and STCE 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 STCE?

DAPP has higher volatility (13.90%) compared to STCE (13.11%). In terms of maximum drawdown, DAPP dropped -92.61% vs STCE's -54.11%.

Which ETF is better, DAPP or STCE?

On 3-year performance, STCE leads with 34.02% vs 26.54% for DAPP. On fees, STCE is cheaper at 0.30% per year. On volatility, STCE has been the lower-risk option at 13.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAPP or STCE?

Over the 3-year period, STCE has performed better with a 34.02% return vs 26.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAPP or STCE?

STCE is cheaper with a 0.30% expense ratio, compared with 0.52% for DAPP.

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

STCE has the higher dividend yield at 1.80%, compared with 0.00% for DAPP.

What is the main difference between DAPP and STCE?

DAPP tracks MVIS Global Digital Assets Equity Index, while STCE tracks Schwab Crypto Thematic Index. They also come from different issuers: VanEck and Charles Schwab. Their fees differ too: 0.52% for DAPP and 0.30% for STCE.

Which has better risk-adjusted returns?

STCE currently has the higher Sharpe Ratio (0.19 vs -0.10), 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.