DECO vs. HECO

Last updated Aug 2, 2026

DECO (State Street Galaxy Digital Asset Ecosystem ETF) and HECO (State Street Galaxy Hedged Digital Asset Ecosystem ETF) are both Blockchain funds from State Street. Both are actively managed. Over the past year, DECO returned 103.84% vs 94.69% for HECO. Their 0.99 correlation means they have historically moved very closely together. DECO charges 0.65%/yr vs 0.90%/yr for HECO.

Performance

DECO vs. HECO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Galaxy Digital Asset Ecosystem ETF (DECO) and State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DECO having a 61.26% return and HECO slightly higher at 61.32%.

DECO

• 1D: -1.75%
• 1M: -3.53%
• 6M: 43.24%
• YTD: 61.26%
• 1Y: 103.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 79.69%

HECO

• 1D: -1.72%
• 1M: -2.15%
• 6M: 43.52%
• YTD: 61.32%
• 1Y: 94.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 66.82%

*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)
DECO State Street Galaxy Digital Asset Ecosystem ETF	$81.73K	$85.27K	$116.73K
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	$85.91K	$53.80K	$462.34K

DECO vs. HECO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DECO State Street Galaxy Digital Asset Ecosystem ETF	61.26%	42.48%	31.48%
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	61.32%	26.23%	28.95%

Correlation

The correlation between DECO and HECO is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.99

The correlation between DECO and HECO has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

DECO vs. HECO - Sectors Allocation Comparison

Sectors	DECO	HECO
Financial Services	51.7%	51.5%
Technology	43.9%	44.1%
Industrials	4.4%	4.4%
Basic Materials	1.8%	1.8%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DECO vs. HECO — Risk / Return Rank

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

DECO

DECO Risk / Return Rank: 80
DECO Sharpe Ratio Rank: 84
DECO Sortino Ratio Rank: 79
DECO Omega Ratio Rank: 74
DECO Calmar Ratio Rank: 88
DECO Martin Ratio Rank: 76

HECO

HECO Risk / Return Rank: 85
HECO Sharpe Ratio Rank: 88
HECO Sortino Ratio Rank: 84
HECO Omega Ratio Rank: 80
HECO Calmar Ratio Rank: 91
HECO Martin Ratio Rank: 83

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.

DECO vs. HECO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Galaxy Digital Asset Ecosystem ETF (DECO) and State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO). 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.

	DECO	HECO	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.14	-0.17
Sortino ratio: Return per unit of downside risk	2.54	2.76	-0.22
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	3.63	4.10	-0.47
Martin ratio: Return relative to average drawdown	9.69	11.32	-1.64

DECO vs. HECO - Sharpe Ratio Comparison

The current DECO Sharpe Ratio is 1.97, which is comparable to the HECO Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of DECO and HECO, 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

DECO vs. HECO - Drawdown Comparison

The maximum DECO drawdown since its inception was -47.71%, which is greater than HECO's maximum drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for DECO and HECO.

Drawdown Indicators

	DECO	HECO	Difference
Max Drawdown Largest peak-to-trough decline	-47.71%	-44.59%	-3.12%
Max Drawdown (1Y) Largest decline over 1 year	-25.60%	-21.03%	-4.57%
Current Drawdown Current decline from peak	-11.66%	-7.93%	-3.73%
Average Drawdown Average peak-to-trough decline	-11.23%	-11.20%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.58%	7.61%	+1.97%

Volatility

DECO vs. HECO - Volatility Comparison

State Street Galaxy Digital Asset Ecosystem ETF (DECO) has a higher volatility of 19.07% compared to State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO) at 17.46%. This indicates that DECO's price experiences larger fluctuations and is considered to be riskier than HECO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DECO	HECO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.07%	17.46%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	36.72%	31.65%	+5.07%
Volatility (1Y) Calculated over the trailing 1-year period	47.28%	40.39%	+6.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.85%	45.29%	+6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.85%	45.29%	+6.56%

DECO vs. HECO - Expense Ratio Comparison

DECO has a 0.65% expense ratio, which is lower than HECO's 0.90% expense ratio.

Dividends

DECO vs. HECO - Dividend Comparison

DECO's dividend yield for the trailing twelve months is around 0.72%, while HECO has not paid dividends to shareholders.

Position	TTM	2025	2024
DECO State Street Galaxy Digital Asset Ecosystem ETF	0.72%	1.16%	1.73%
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	0.00%	0.00%	2.61%

Frequently Asked Questions

Can I hold both DECO and HECO in my portfolio?

With a correlation of 0.99, DECO and HECO 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, DECO or HECO?

DECO has higher volatility (19.07%) compared to HECO (17.46%). In terms of maximum drawdown, DECO dropped -47.71% vs HECO's -44.59%.

Which ETF is better, DECO or HECO?

On 1-year performance, DECO leads with 103.84% vs 94.69% for HECO. On fees, DECO is cheaper at 0.65% per year. On volatility, HECO has been the lower-risk option at 17.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DECO or HECO?

Over the 1-year period, DECO has performed better with a 103.84% return vs 94.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECO or HECO?

DECO is cheaper with a 0.65% expense ratio, compared with 0.90% for HECO.

Which ETF pays a higher dividend yield, DECO or HECO?

DECO has the higher dividend yield at 0.72%, compared with 0.00% for HECO.

What is the main difference between DECO and HECO?

Their fees differ too: 0.65% for DECO and 0.90% for HECO.

Which has better risk-adjusted returns?

HECO currently has the higher Sharpe Ratio (2.14 vs 1.97), 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.