HODL vs. EZET

Last updated Aug 2, 2026

HODL (VanEck Bitcoin Trust) and EZET (Franklin Ethereum ETF) are both Cryptocurrency funds - HODL tracks the CME CF Bitcoin Reference Rate - New York Variant while EZET tracks the CME CF Ether-Dollar Reference Rate - New York Variant. Both are passively managed. Over the past year, HODL returned -44.45% vs -46.86% for EZET. Their correlation of 0.82 means they have usually moved in the same direction. HODL charges 0.25%/yr vs 0.19%/yr for EZET.

Performance

HODL vs. EZET - Performance Comparison

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

Returns By Period

In the year-to-date period, HODL achieves a -28.10% return, which is significantly higher than EZET's -37.21% return.

HODL

• 1D: -2.89%
• 1M: 2.36%
• 6M: -24.98%
• YTD: -28.10%
• 1Y: -44.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.44%

EZET

• 1D: -2.98%
• 1M: 9.70%
• 6M: -30.34%
• YTD: -37.21%
• 1Y: -46.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EZET Franklin Ethereum ETF	$372.59K	$480.59K	$696.37K
HODL VanEck Bitcoin Trust	$17.01M	$17.34M	$23.05M

HODL vs. EZET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HODL VanEck Bitcoin Trust	-28.10%	-6.42%	36.84%
EZET Franklin Ethereum ETF	-37.21%	-11.23%	-4.77%

Correlation

The correlation between HODL and EZET is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.82

The correlation between HODL and EZET has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

Return for Risk

HODL vs. EZET — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HODL

HODL Risk / Return Rank: 1
HODL Sharpe Ratio Rank: 1
HODL Sortino Ratio Rank: 1
HODL Omega Ratio Rank: 2
HODL Calmar Ratio Rank: 2
HODL Martin Ratio Rank: 1

EZET

EZET Risk / Return Rank: 3
EZET Sharpe Ratio Rank: 3
EZET Sortino Ratio Rank: 3
EZET Omega Ratio Rank: 4
EZET Calmar Ratio Rank: 3
EZET Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HODL vs. EZET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin Trust (HODL) and Franklin Ethereum ETF (EZET). 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.

	HODL	EZET	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-0.75	-0.30
Sortino ratio: Return per unit of downside risk	-1.58	-0.98	-0.60
Omega ratio: Gain probability vs. loss probability	0.83	0.89	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.74	-0.13
Martin ratio: Return relative to average drawdown	-1.34	-1.11	-0.23

HODL vs. EZET - Sharpe Ratio Comparison

The current HODL Sharpe Ratio is -1.05, which is lower than the EZET Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of HODL and EZET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HODL vs. EZET - Drawdown Comparison

The maximum HODL drawdown since its inception was -53.20%, smaller than the maximum EZET drawdown of -67.89%. Use the drawdown chart below to compare losses from any high point for HODL and EZET.

Drawdown Indicators

	HODL	EZET	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-67.89%	+14.69%
Max Drawdown (1Y) Largest decline over 1 year	-53.20%	-67.89%	+14.69%
Current Drawdown Current decline from peak	-49.90%	-61.51%	+11.61%
Average Drawdown Average peak-to-trough decline	-18.17%	-35.20%	+17.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.56%	45.36%	-10.80%

Volatility

HODL vs. EZET - Volatility Comparison

The current volatility for VanEck Bitcoin Trust (HODL) is 9.14%, while Franklin Ethereum ETF (EZET) has a volatility of 13.02%. This indicates that HODL experiences smaller price fluctuations and is considered to be less risky than EZET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HODL	EZET	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.14%	13.02%	-3.88%
Volatility (6M) Calculated over the trailing 6-month period	33.71%	45.86%	-12.15%
Volatility (1Y) Calculated over the trailing 1-year period	44.31%	67.21%	-22.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.28%	71.33%	-22.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.28%	71.33%	-22.05%

HODL vs. EZET - Expense Ratio Comparison

HODL has a 0.25% expense ratio, which is higher than EZET's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HODL vs. EZET - Dividend Comparison

Neither HODL nor EZET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HODL and EZET in my portfolio?

With a correlation of 0.91, HODL and EZET move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HODL or EZET?

EZET has higher volatility (13.02%) compared to HODL (9.14%). In terms of maximum drawdown, HODL dropped -53.20% vs EZET's -67.89%.

Which ETF is better, HODL or EZET?

On 1-year performance, HODL leads with -44.45% vs -46.86% for EZET. On fees, EZET is cheaper at 0.19% per year. On volatility, HODL has been the lower-risk option at 9.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HODL or EZET?

Over the 1-year period, HODL has performed better with a -44.45% return vs -46.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HODL or EZET?

EZET is cheaper with a 0.19% expense ratio, compared with 0.25% for HODL.

Which ETF pays a higher dividend yield, HODL or EZET?

HODL and EZET have nearly identical dividend yields, around 0.00%.

What is the main difference between HODL and EZET?

HODL tracks CME CF Bitcoin Reference Rate - New York Variant, while EZET tracks CME CF Ether-Dollar Reference Rate - New York Variant. They also come from different issuers: VanEck and Franklin Templeton. Their fees differ too: 0.25% for HODL and 0.19% for EZET.

Which has better risk-adjusted returns?

EZET currently has the higher Sharpe Ratio (-0.75 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.