DAPP vs. WGMI

Last updated Aug 4, 2026

DAPP (VanEck Digital Transformation ETF) and WGMI (CoinShares Bitcoin Miners ETF) are both exchange-traded funds - DAPP is a Blockchain fund tracking the MVIS Global Digital Assets Equity Index, while WGMI is a Cryptocurrency fund actively managed by CoinShares. DAPP is passively managed, while WGMI is actively managed. Over the past 3 years, DAPP returned 36.97%/yr vs 56.99%/yr for WGMI. Their correlation of 0.95 means they have usually moved in the same direction. DAPP charges 0.52%/yr vs 0.75%/yr for WGMI.

Performance

DAPP vs. WGMI - Performance Comparison

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

Returns By Period

In the year-to-date period, DAPP achieves a 11.01% return, which is significantly lower than WGMI's 43.06% return.

DAPP

• 1D: 4.08%
• 1M: -0.70%
• 6M: 5.52%
• YTD: 11.01%
• 1Y: 14.47%
• 3Y*: 36.97%
• 5Y*: -3.66%
• 10Y*: —
• ALL TIME*: -10.50%

WGMI

• 1D: 6.39%
• 1M: 2.93%
• 6M: 23.20%
• YTD: 43.06%
• 1Y: 133.77%
• 3Y*: 56.99%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DAPP VanEck Digital Transformation ETF	$5.34M	$5.83M	$16.16M
WGMI CoinShares Bitcoin Miners ETF	$37.11M	$31.73M	$41.52M

DAPP vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DAPP VanEck Digital Transformation ETF	11.01%	15.03%	44.87%	285.02%	-81.80%
WGMI CoinShares Bitcoin Miners ETF	43.06%	72.47%	23.54%	304.08%	-82.94%

Correlation

The correlation between DAPP and WGMI is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (All Time) Calculated using the full available price history since Feb 8, 2022	0.95

The correlation between DAPP and WGMI has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

DAPP vs. WGMI - Sectors Allocation Comparison

Sectors	DAPP	WGMI
Financial Services	61.8%	45.4%
Technology	35.4%	47.8%
Consumer Cyclical	2.8%	-
Basic Materials	-	-
Communication Services	-	2.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.7%
Real Estate	-	-
Utilities	-	4.1%

Return for Risk

DAPP vs. WGMI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DAPP

DAPP Risk / Return Rank: 18
DAPP Sharpe Ratio Rank: 16
DAPP Sortino Ratio Rank: 22
DAPP Omega Ratio Rank: 20
DAPP Calmar Ratio Rank: 16
DAPP Martin Ratio Rank: 15

WGMI

WGMI Risk / Return Rank: 62
WGMI Sharpe Ratio Rank: 69
WGMI Sortino Ratio Rank: 66
WGMI Omega Ratio Rank: 58
WGMI Calmar Ratio Rank: 73
WGMI Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DAPP vs. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Digital Transformation ETF (DAPP) and CoinShares Bitcoin Miners ETF (WGMI). 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	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	0.23	1.62	-1.40
Sortino ratio: Return per unit of downside risk	0.78	2.22	-1.44
Omega ratio: Gain probability vs. loss probability	1.09	1.26	-0.17
Calmar ratio: Return relative to maximum drawdown	0.30	2.64	-2.34
Martin ratio: Return relative to average drawdown	0.54	5.10	-4.56

DAPP vs. WGMI - Sharpe Ratio Comparison

The current DAPP Sharpe Ratio is 0.23, which is lower than the WGMI Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of DAPP and WGMI, 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. WGMI - Drawdown Comparison

The maximum DAPP drawdown since its inception was -92.61%, which is greater than WGMI's maximum drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for DAPP and WGMI.

Drawdown Indicators

	DAPP	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-92.61%	-85.76%	-6.85%
Max Drawdown (1Y) Largest decline over 1 year	-48.21%	-50.94%	+2.73%
Max Drawdown (3Y) Largest decline over 3 years	-58.88%	-62.79%	+3.91%
Max Drawdown (5Y) Largest decline over 5 years	-91.90%	—	—
Current Drawdown Current decline from peak	-44.49%	-24.06%	-20.43%
Average Drawdown Average peak-to-trough decline	-60.78%	-41.96%	-18.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.74%	26.33%	+0.41%

Volatility

DAPP vs. WGMI - Volatility Comparison

The current volatility for VanEck Digital Transformation ETF (DAPP) is 22.16%, while CoinShares Bitcoin Miners ETF (WGMI) has a volatility of 34.42%. This indicates that DAPP experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAPP	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.16%	34.42%	-12.26%
Volatility (6M) Calculated over the trailing 6-month period	47.86%	61.40%	-13.54%
Volatility (1Y) Calculated over the trailing 1-year period	64.48%	83.14%	-18.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.16%	82.41%	-9.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.71%	82.41%	-9.70%

DAPP vs. WGMI - Expense Ratio Comparison

DAPP has a 0.52% expense ratio, which is lower than WGMI's 0.75% expense ratio.

Dividends

DAPP vs. WGMI - Dividend Comparison

Neither DAPP nor WGMI 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%
WGMI CoinShares Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DAPP and WGMI in my portfolio?

With a correlation of 0.93, DAPP and WGMI 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 WGMI?

WGMI has higher volatility (34.42%) compared to DAPP (22.16%). In terms of maximum drawdown, DAPP dropped -92.61% vs WGMI's -85.76%.

Which ETF is better, DAPP or WGMI?

On 3-year performance, WGMI leads with 56.99% vs 36.97% for DAPP. On fees, DAPP is cheaper at 0.52% per year. On volatility, DAPP has been the lower-risk option at 22.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAPP or WGMI?

Over the 3-year period, WGMI has performed better with a 56.99% return vs 36.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAPP or WGMI?

DAPP is cheaper with a 0.52% expense ratio, compared with 0.75% for WGMI.

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

DAPP and WGMI have nearly identical dividend yields, around 0.00%.

What is the main difference between DAPP and WGMI?

DAPP is categorized as Blockchain, while WGMI is Cryptocurrency. They also come from different issuers: VanEck and CoinShares. Their fees differ too: 0.52% for DAPP and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (1.62 vs 0.23), 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.