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 -16.63% vs -39.68% 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 -16.33% return, which is significantly higher than HODL's -28.75% return.
ESPO
- 1D
- -0.79%
- 1M
- -2.71%
- YTD
- -16.33%
- 6M
- -16.76%
- 1Y
- -16.63%
- 3Y*
- 17.97%
- 5Y*
- 5.31%
- 10Y*
- —
HODL
- 1D
- -3.24%
- 1M
- -17.82%
- YTD
- -28.75%
- 6M
- -28.92%
- 1Y
- -39.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ESPO vs. HODL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | -16.33% | 25.79% | 48.53% |
HODL VanEck Bitcoin Trust | -28.75% | -6.42% | 91.50% |
Correlation
The correlation between ESPO and HODL is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
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 | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.86 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | -0.77 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.01 | -1.30 | +0.29 |
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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 -51.96%. 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% | -51.96% | +0.97% |
Max Drawdown (1Y)Largest decline over 1 year | -28.25% | -51.96% | +23.71% |
Max Drawdown (3Y)Largest decline over 3 years | -28.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -48.33% | — | — |
Current DrawdownCurrent decline from peak | -28.25% | -50.35% | +22.10% |
Average DrawdownAverage peak-to-trough decline | -15.10% | -16.78% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.49% | 30.49% | -14.00% |
Volatility
ESPO vs. HODL - Volatility Comparison
The current volatility for VanEck Video Gaming and eSports ETF (ESPO) is 4.23%, while VanEck Bitcoin Trust (HODL) has a volatility of 13.07%. 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 | 4.23% | 13.07% | -8.84% |
Volatility (6M)Calculated over the trailing 6-month period | 14.64% | 34.59% | -19.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.65% | 44.11% | -25.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 49.89% | -24.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.68% | 49.89% | -24.21% |
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 1.49%, 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 | 1.49% | 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 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HODL has higher volatility (13.07%) compared to ESPO (4.23%). In terms of maximum drawdown, ESPO dropped -50.99% vs HODL's -51.96%.
On 1-year performance, ESPO leads with -16.63% vs -39.68% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, ESPO has been the lower-risk option at 4.23%. 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 -16.63% return vs -39.68%. 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 1.49%, 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 (-0.90 vs -0.90), 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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