ESPO vs. MSFT
ESPO (VanEck Video Gaming and eSports ETF) is Gaming fund tracking the MVIS Global Video Gaming and eSports Index, while MSFT (Microsoft Corporation) is a stock. Over the past 5 years, ESPO returned 5.31%/yr vs 7.88%/yr for MSFT. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
ESPO vs. MSFT - 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 MSFT's -22.33% return.
ESPO
- 1D
- -0.79%
- 1M
- -2.71%
- YTD
- -16.33%
- 6M
- -16.76%
- 1Y
- -16.63%
- 3Y*
- 17.97%
- 5Y*
- 5.31%
- 10Y*
- —
MSFT
- 1D
- 1.80%
- 1M
- -10.66%
- YTD
- -22.33%
- 6M
- -22.85%
- 1Y
- -22.44%
- 3Y*
- 4.54%
- 5Y*
- 7.88%
- 10Y*
- 23.85%
ESPO vs. MSFT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | -16.33% | 25.79% | 47.61% | 33.64% | -34.71% | -2.13% | 83.93% | 42.36% | -12.49% |
MSFT Microsoft Corporation | -22.33% | 15.58% | 12.93% | 58.19% | -28.02% | 52.48% | 42.53% | 57.56% | -8.10% |
Correlation
The correlation between ESPO and MSFT is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.59 |
Over the past year, the correlation between ESPO and MSFT has dropped to 0.35 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
ESPO vs. MSFT — Risk / Return Rank
ESPO
MSFT
ESPO vs. MSFT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Video Gaming and eSports ETF (ESPO) and Microsoft Corporation (MSFT). 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 | MSFT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.86 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | -0.66 | +0.07 |
| Martin ratioReturn relative to average drawdown | -1.01 | -1.32 | +0.31 |
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Drawdowns
ESPO vs. MSFT - Drawdown Comparison
The maximum ESPO drawdown since its inception was -50.99%, smaller than the maximum MSFT drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for ESPO and MSFT.
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Drawdown Indicators
| ESPO | MSFT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.99% | -69.38% | +18.39% |
Max Drawdown (1Y)Largest decline over 1 year | -28.25% | -33.91% | +5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -28.25% | -33.91% | +5.66% |
Max Drawdown (5Y)Largest decline over 5 years | -48.33% | -37.15% | -11.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.15% | — |
Current DrawdownCurrent decline from peak | -28.25% | -30.58% | +2.33% |
Average DrawdownAverage peak-to-trough decline | -15.10% | -21.79% | +6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.49% | 17.08% | -0.59% |
Volatility
ESPO vs. MSFT - Volatility Comparison
The current volatility for VanEck Video Gaming and eSports ETF (ESPO) is 4.23%, while Microsoft Corporation (MSFT) has a volatility of 11.34%. This indicates that ESPO experiences smaller price fluctuations and is considered to be less risky than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESPO | MSFT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 11.34% | -7.11% |
Volatility (6M)Calculated over the trailing 6-month period | 14.64% | 22.94% | -8.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.65% | 26.02% | -7.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 26.79% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.68% | 27.09% | -1.41% |
Dividends
ESPO vs. MSFT - Dividend Comparison
ESPO's dividend yield for the trailing twelve months is around 1.49%, more than MSFT's 0.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
MSFT Microsoft Corporation | 0.95% | 0.70% | 0.73% | 0.74% | 1.06% | 0.68% | 0.94% | 1.20% | 1.69% | 1.86% | 2.37% | 2.33% |
Frequently Asked Questions
ESPO and MSFT have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFT has higher volatility (11.34%) compared to ESPO (4.23%). In terms of maximum drawdown, ESPO dropped -50.99% vs MSFT's -69.38%.
MSFT currently has the higher Sharpe Ratio (-0.87 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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