HODL vs. EZET

Last updated Jun 5, 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 -39.52% vs -32.57% for EZET. Their correlation of 0.81 suggests significant overlap in exposure. 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 -27.34% return, which is significantly higher than EZET's -40.23% return.

HODL

• 1D: -2.76%
• 1M: -22.17%
• YTD: -27.34%
• 6M: -31.31%
• 1Y: -39.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EZET

• 1D: -1.32%
• 1M: -25.14%
• YTD: -40.23%
• 6M: -43.56%
• 1Y: -32.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HODL vs. EZET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HODL VanEck Bitcoin Trust	-27.34%	-6.42%	42.47%
EZET Franklin Ethereum ETF	-40.23%	-11.23%	-3.68%

Correlation

The correlation between HODL and EZET is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	0.81

The correlation between HODL and EZET has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

Return for Risk

HODL vs. EZET — Risk / Return Rank

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

HODL

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

EZET

EZET Risk / Return Rank: 5
EZET Sharpe Ratio Rank: 5
EZET Sortino Ratio Rank: 6
EZET Omega Ratio Rank: 6
EZET Calmar Ratio Rank: 5
EZET Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	HODL	EZET	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	-0.48	-0.43
Sortino ratio: Return per unit of downside risk	-1.27	-0.34	-0.93
Omega ratio: Gain probability vs. loss probability	0.86	0.96	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.80	-0.52	-0.29
Martin ratio: Return relative to average drawdown	-1.39	-0.86	-0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HODL vs. EZET - Sharpe Ratio Comparison

The current HODL Sharpe Ratio is -0.91, which is lower than the EZET Sharpe Ratio of -0.48. 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.

Sharpe Ratios by Period

	HODL	EZET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.91	-0.48	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	-0.42	+0.70

Drawdowns

HODL vs. EZET - Drawdown Comparison

The maximum HODL drawdown since its inception was -49.37%, smaller than the maximum EZET drawdown of -64.05%. 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	-49.37%	-64.05%	+14.68%
Max Drawdown (1Y) Largest decline over 1 year	-49.37%	-63.36%	+13.99%
Current Drawdown Current decline from peak	-49.37%	-63.36%	+13.99%
Average Drawdown Average peak-to-trough decline	-16.03%	-32.74%	+16.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.52%	37.94%	-9.42%

Volatility

HODL vs. EZET - Volatility Comparison

The current volatility for VanEck Bitcoin Trust (HODL) is 9.05%, while Franklin Ethereum ETF (EZET) has a volatility of 9.68%. 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	9.05%	9.68%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	33.85%	45.32%	-11.47%
Volatility (1Y) Calculated over the trailing 1-year period	43.55%	68.34%	-24.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.88%	72.29%	-22.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.88%	72.29%	-22.41%

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?

HODL and EZET have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HODL or EZET?

EZET has higher volatility (9.68%) compared to HODL (9.05%). In terms of maximum drawdown, HODL dropped -49.37% vs EZET's -64.05%.

Which ETF is better, HODL or EZET?

On 1-year performance, EZET leads with -32.57% vs -39.52% for HODL. On fees, EZET is cheaper at 0.19% per year. On volatility, HODL has been the lower-risk option at 9.05%. 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, EZET has performed better with a -32.57% return vs -39.52%. 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 (-0.48 vs -0.91), 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.