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HODL vs. GBTC
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between HODL and GBTC is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.0
Correlation: 1.0

Performance

HODL vs. GBTC - Performance Comparison

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

20.00%40.00%60.00%80.00%100.00%120.00%NovemberDecember2025FebruaryMarchApril
85.71%
68.84%
HODL
GBTC

Key characteristics

Sharpe Ratio

HODL:

0.45

GBTC:

0.19

Sortino Ratio

HODL:

1.02

GBTC:

0.67

Omega Ratio

HODL:

1.12

GBTC:

1.08

Calmar Ratio

HODL:

0.89

GBTC:

0.30

Martin Ratio

HODL:

1.96

GBTC:

0.67

Ulcer Index

HODL:

12.47%

GBTC:

15.74%

Daily Std Dev

HODL:

53.95%

GBTC:

55.50%

Max Drawdown

HODL:

-27.51%

GBTC:

-89.91%

Current Drawdown

HODL:

-18.60%

GBTC:

-18.90%

Returns By Period

The year-to-date returns for both stocks are quite close, with HODL having a -7.03% return and GBTC slightly lower at -7.19%.


HODL

YTD

-7.03%

1M

0.94%

6M

44.30%

1Y

31.72%

5Y*

N/A

10Y*

N/A

GBTC

YTD

-7.19%

1M

0.98%

6M

43.36%

1Y

17.04%

5Y*

56.09%

10Y*

N/A

*Annualized

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Risk-Adjusted Performance

HODL vs. GBTC — 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 5656
Overall Rank
The Sharpe Ratio Rank of HODL is 4444
Sharpe Ratio Rank
The Sortino Ratio Rank of HODL is 6262
Sortino Ratio Rank
The Omega Ratio Rank of HODL is 5656
Omega Ratio Rank
The Calmar Ratio Rank of HODL is 7070
Calmar Ratio Rank
The Martin Ratio Rank of HODL is 5050
Martin Ratio Rank

GBTC
The Risk-Adjusted Performance Rank of GBTC is 6060
Overall Rank
The Sharpe Ratio Rank of GBTC is 6060
Sharpe Ratio Rank
The Sortino Ratio Rank of GBTC is 5858
Sortino Ratio Rank
The Omega Ratio Rank of GBTC is 5555
Omega Ratio Rank
The Calmar Ratio Rank of GBTC is 6767
Calmar Ratio Rank
The Martin Ratio Rank of GBTC is 6161
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. GBTC - Risk-Adjusted Performance Comparison

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


Sharpe ratio
The chart of Sharpe ratio for HODL, currently valued at 0.45, compared to the broader market0.002.004.00
HODL: 0.45
GBTC: 0.19
The chart of Sortino ratio for HODL, currently valued at 1.02, compared to the broader market-2.000.002.004.006.008.0010.0012.00
HODL: 1.02
GBTC: 0.67
The chart of Omega ratio for HODL, currently valued at 1.12, compared to the broader market0.501.001.502.002.503.00
HODL: 1.12
GBTC: 1.08
The chart of Calmar ratio for HODL, currently valued at 0.89, compared to the broader market0.005.0010.0015.00
HODL: 0.89
GBTC: 0.30
The chart of Martin ratio for HODL, currently valued at 1.96, compared to the broader market0.0020.0040.0060.0080.00100.00
HODL: 1.96
GBTC: 0.67

The current HODL Sharpe Ratio is 0.45, which is higher than the GBTC Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of HODL and GBTC, 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 Ratio-0.500.000.501.001.502.002.503.00Jan 19Jan 26Feb 02Feb 09Feb 16Feb 23Mar 02Mar 09Mar 16Mar 23Mar 30
0.45
0.19
HODL
GBTC

Dividends

HODL vs. GBTC - Dividend Comparison

Neither HODL nor GBTC has paid dividends to shareholders.


TTM20242023202220212020201920182017
HODL
VanEck Bitcoin Trust
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GBTC
Grayscale Bitcoin Trust (BTC)
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.23%

Drawdowns

HODL vs. GBTC - Drawdown Comparison

The maximum HODL drawdown since its inception was -27.51%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for HODL and GBTC. For additional features, visit the drawdowns tool.


-25.00%-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-18.60%
-18.90%
HODL
GBTC

Volatility

HODL vs. GBTC - Volatility Comparison

VanEck Bitcoin Trust (HODL) and Grayscale Bitcoin Trust (BTC) (GBTC) have volatilities of 16.50% and 16.88%, 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
16.50%
16.88%
HODL
GBTC
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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