ETHV vs. HODL
ETHV (VanEck Ethereum ETF) and HODL (VanEck Bitcoin Trust) are both Cryptocurrency funds from VanEck - ETHV tracks the MarketVector Ethereum Benchmark Rate while HODL tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, ETHV returned -28.37% vs -37.74% for HODL. Their correlation of 0.82 suggests significant overlap in exposure. ETHV charges 0.20%/yr vs 0.25%/yr for HODL.
Performance
ETHV vs. HODL - Performance Comparison
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Returns By Period
In the year-to-date period, ETHV achieves a -41.71% return, which is significantly lower than HODL's -26.36% return.
ETHV
- 1D
- 1.56%
- 1M
- -16.10%
- YTD
- -41.71%
- 6M
- -41.81%
- 1Y
- -28.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HODL
- 1D
- 2.30%
- 1M
- -15.07%
- YTD
- -26.36%
- 6M
- -27.10%
- 1Y
- -37.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHV vs. HODL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHV VanEck Ethereum ETF | -41.71% | -11.02% | -5.50% |
HODL VanEck Bitcoin Trust | -26.36% | -6.42% | 36.84% |
Correlation
The correlation between ETHV and HODL is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.82 |
The correlation between ETHV and HODL has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
ETHV vs. HODL — Risk / Return Rank
ETHV
HODL
ETHV vs. HODL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Ethereum ETF (ETHV) 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.
| ETHV | HODL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.87 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.73 | +0.31 |
| Martin ratioReturn relative to average drawdown | -0.71 | -1.25 | +0.54 |
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Drawdowns
ETHV vs. HODL - Drawdown Comparison
The maximum ETHV drawdown since its inception was -67.54%, which is greater than HODL's maximum drawdown of -51.96%. Use the drawdown chart below to compare losses from any high point for ETHV and HODL.
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Drawdown Indicators
| ETHV | HODL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.54% | -51.96% | -15.58% |
Max Drawdown (1Y)Largest decline over 1 year | -67.54% | -51.96% | -15.58% |
Current DrawdownCurrent decline from peak | -64.27% | -48.69% | -15.58% |
Average DrawdownAverage peak-to-trough decline | -33.65% | -16.73% | -16.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.19% | 30.32% | +9.87% |
Volatility
ETHV vs. HODL - Volatility Comparison
VanEck Ethereum ETF (ETHV) has a higher volatility of 19.48% compared to VanEck Bitcoin Trust (HODL) at 12.88%. This indicates that ETHV's price experiences larger fluctuations and is considered to be riskier 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
| ETHV | HODL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.48% | 12.88% | +6.60% |
Volatility (6M)Calculated over the trailing 6-month period | 46.75% | 34.47% | +12.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.07% | 44.09% | +24.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.42% | 49.89% | +22.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.42% | 49.89% | +22.53% |
ETHV vs. HODL - Expense Ratio Comparison
ETHV has a 0.20% expense ratio, which is lower than HODL's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ETHV vs. HODL - Dividend Comparison
Neither ETHV nor HODL has paid dividends to shareholders.
Frequently Asked Questions
ETHV and HODL have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHV has higher volatility (19.48%) compared to HODL (12.88%). In terms of maximum drawdown, ETHV dropped -67.54% vs HODL's -51.96%.
On 1-year performance, ETHV leads with -28.37% vs -37.74% for HODL. On fees, ETHV is cheaper at 0.20% per year. On volatility, HODL has been the lower-risk option at 12.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ETHV has performed better with a -28.37% return vs -37.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHV is cheaper with a 0.20% expense ratio, compared with 0.25% for HODL.
ETHV and HODL have nearly identical dividend yields, around 0.00%.
ETHV tracks MarketVector Ethereum Benchmark Rate, while HODL tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.20% for ETHV and 0.25% for HODL.
ETHV currently has the higher Sharpe Ratio (-0.41 vs -0.86), 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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