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HODL vs. BTC-USD
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Correlation

The correlation between HODL and BTC-USD is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


-0.50.00.51.0
Correlation: 0.4

Performance

HODL vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Bitcoin Trust (HODL) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

40.00%60.00%80.00%100.00%120.00%NovemberDecember2025FebruaryMarchApril
104.01%
104.28%
HODL
BTC-USD

Key characteristics

Sharpe Ratio

HODL:

0.80

BTC-USD:

1.95

Sortino Ratio

HODL:

1.44

BTC-USD:

2.56

Omega Ratio

HODL:

1.17

BTC-USD:

1.26

Calmar Ratio

HODL:

1.55

BTC-USD:

1.73

Martin Ratio

HODL:

3.41

BTC-USD:

8.72

Ulcer Index

HODL:

12.73%

BTC-USD:

11.36%

Daily Std Dev

HODL:

54.02%

BTC-USD:

42.72%

Max Drawdown

HODL:

-28.07%

BTC-USD:

-93.07%

Current Drawdown

HODL:

-10.58%

BTC-USD:

-10.76%

Returns By Period

In the year-to-date period, HODL achieves a 2.13% return, which is significantly higher than BTC-USD's 1.38% return.


HODL

YTD

2.13%

1M

9.58%

6M

42.90%

1Y

49.67%

5Y*

N/A

10Y*

N/A

BTC-USD

YTD

1.38%

1M

8.65%

6M

41.34%

1Y

48.57%

5Y*

64.83%

10Y*

82.95%

*Annualized

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Risk-Adjusted Performance

HODL vs. BTC-USD — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HODL
The Risk-Adjusted Performance Rank of HODL is 7979
Overall Rank
The Sharpe Ratio Rank of HODL is 7575
Sharpe Ratio Rank
The Sortino Ratio Rank of HODL is 8080
Sortino Ratio Rank
The Omega Ratio Rank of HODL is 7575
Omega Ratio Rank
The Calmar Ratio Rank of HODL is 9090
Calmar Ratio Rank
The Martin Ratio Rank of HODL is 7777
Martin Ratio Rank

BTC-USD
The Risk-Adjusted Performance Rank of BTC-USD is 9090
Overall Rank
The Sharpe Ratio Rank of BTC-USD is 9393
Sharpe Ratio Rank
The Sortino Ratio Rank of BTC-USD is 8585
Sortino Ratio Rank
The Omega Ratio Rank of BTC-USD is 8787
Omega Ratio Rank
The Calmar Ratio Rank of BTC-USD is 9393
Calmar Ratio Rank
The Martin Ratio Rank of BTC-USD is 9191
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

HODL vs. BTC-USD - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin Trust (HODL) and Bitcoin (BTC-USD). 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.


The chart of Sharpe ratio for HODL, currently valued at 1.89, compared to the broader market-1.000.001.002.003.004.00
HODL: 1.89
BTC-USD: 1.95
The chart of Sortino ratio for HODL, currently valued at 2.55, compared to the broader market-2.000.002.004.006.008.00
HODL: 2.55
BTC-USD: 2.56
The chart of Omega ratio for HODL, currently valued at 1.30, compared to the broader market0.501.001.502.002.50
HODL: 1.30
BTC-USD: 1.26
The chart of Calmar ratio for HODL, currently valued at 1.69, compared to the broader market0.002.004.006.008.0010.0012.00
HODL: 1.69
BTC-USD: 1.73
The chart of Martin ratio for HODL, currently valued at 8.43, compared to the broader market0.0020.0040.0060.00
HODL: 8.43
BTC-USD: 8.72

The current HODL Sharpe Ratio is 0.80, which is lower than the BTC-USD Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of HODL and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.501.001.502.00NovemberDecember2025FebruaryMarchApril
1.89
1.95
HODL
BTC-USD

Drawdowns

HODL vs. BTC-USD - Drawdown Comparison

The maximum HODL drawdown since its inception was -28.07%, smaller than the maximum BTC-USD drawdown of -93.07%. Use the drawdown chart below to compare losses from any high point for HODL and BTC-USD. For additional features, visit the drawdowns tool.


-30.00%-25.00%-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-10.58%
-10.76%
HODL
BTC-USD

Volatility

HODL vs. BTC-USD - Volatility Comparison

VanEck Bitcoin Trust (HODL) and Bitcoin (BTC-USD) have volatilities of 16.13% and 16.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


8.00%10.00%12.00%14.00%16.00%18.00%20.00%NovemberDecember2025FebruaryMarchApril
16.13%
16.25%
HODL
BTC-USD