ESPO vs. HODL
ESPO (VanEck Video Gaming and eSports ETF) and HODL (VanEck Bitcoin Trust) are both exchange-traded funds - ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index, while HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, ESPO returned -13.39% vs -46.21% for HODL. At a 0.37 correlation, their price movements are largely independent. ESPO charges 0.55%/yr vs 0.25%/yr for HODL.
Performance
ESPO vs. HODL - Performance Comparison
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Returns By Period
In the year-to-date period, ESPO achieves a -11.52% return, which is significantly higher than HODL's -26.57% return.
ESPO
- 1D
- -0.34%
- 1M
- 3.26%
- 6M
- -13.63%
- YTD
- -11.52%
- 1Y
- -13.39%
- 3Y*
- 17.03%
- 5Y*
- 7.56%
- 10Y*
- —
HODL
- 1D
- -1.09%
- 1M
- -2.16%
- 6M
- -32.59%
- YTD
- -26.57%
- 1Y
- -46.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ESPO vs. HODL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | -11.52% | 25.79% | 48.53% |
HODL VanEck Bitcoin Trust | -26.57% | -6.42% | 91.50% |
Correlation
The correlation between ESPO and HODL is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.37 |
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Return for Risk
ESPO vs. HODL — Risk / Return Rank
ESPO
HODL
ESPO vs. HODL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Video Gaming and eSports ETF (ESPO) and VanEck Bitcoin Trust (HODL). 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.
| ESPO | HODL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.82 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | -0.87 | +0.41 |
| Martin ratioReturn relative to average drawdown | -0.76 | -1.40 | +0.64 |
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Drawdowns
ESPO vs. HODL - Drawdown Comparison
The maximum ESPO drawdown since its inception was -50.99%, roughly equal to the maximum HODL drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for ESPO and HODL.
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Drawdown Indicators
| ESPO | HODL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.99% | -53.20% | +2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -29.43% | -53.20% | +23.77% |
Max Drawdown (3Y)Largest decline over 3 years | -29.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -48.33% | — | — |
Current DrawdownCurrent decline from peak | -24.12% | -48.83% | +24.71% |
Average DrawdownAverage peak-to-trough decline | -15.18% | -17.64% | +2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.64% | 33.04% | -15.40% |
Volatility
ESPO vs. HODL - Volatility Comparison
The current volatility for VanEck Video Gaming and eSports ETF (ESPO) is 4.87%, while VanEck Bitcoin Trust (HODL) has a volatility of 10.76%. This indicates that ESPO experiences smaller price fluctuations and is considered to be less risky than HODL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESPO | HODL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.87% | 10.76% | -5.89% |
Volatility (6M)Calculated over the trailing 6-month period | 15.06% | 34.75% | -19.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.83% | 44.22% | -25.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 49.59% | -24.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.62% | 49.59% | -23.97% |
ESPO vs. HODL - Expense Ratio Comparison
ESPO has a 0.55% expense ratio, which is higher than HODL's 0.25% expense ratio.
Dividends
ESPO vs. HODL - Dividend Comparison
ESPO's dividend yield for the trailing twelve months is around 1.41%, while HODL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | 1.41% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
HODL VanEck Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESPO and HODL have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HODL has higher volatility (10.76%) compared to ESPO (4.87%). In terms of maximum drawdown, ESPO dropped -50.99% vs HODL's -53.20%.
On 1-year performance, ESPO leads with -13.39% vs -46.21% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, ESPO has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ESPO has performed better with a -13.39% return vs -46.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HODL is cheaper with a 0.25% expense ratio, compared with 0.55% for ESPO.
ESPO has the higher dividend yield at 1.41%, compared with 0.00% for HODL.
ESPO is categorized as Gaming, while HODL is Cryptocurrency. ESPO tracks MVIS Global Video Gaming and eSports Index, while HODL tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.55% for ESPO and 0.25% for HODL.
ESPO currently has the higher Sharpe Ratio (-0.72 vs -1.05), 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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