HODL vs. IBLC
Compare and contrast key facts about VanEck Bitcoin Trust (HODL) and iShares Blockchain and Tech ETF (IBLC).
HODL and IBLC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HODL is a passively managed fund by VanEck that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 4, 2024. IBLC is a passively managed fund by iShares that tracks the performance of the ICE FactSet Global Blockchain Technologies Index. It was launched on Apr 25, 2022. Both HODL and IBLC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
HODL vs. IBLC - Performance Comparison
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HODL vs. IBLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HODL VanEck Bitcoin Trust | -22.04% | -6.42% | 99.75% |
IBLC iShares Blockchain and Tech ETF | -10.80% | 27.05% | 30.53% |
Returns By Period
In the year-to-date period, HODL achieves a -22.04% return, which is significantly lower than IBLC's -10.80% return.
HODL
- 1D
- 0.63%
- 1M
- -1.38%
- YTD
- -22.04%
- 6M
- -42.00%
- 1Y
- -19.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBLC
- 1D
- -0.14%
- 1M
- -9.00%
- YTD
- -10.80%
- 6M
- -30.61%
- 1Y
- 50.32%
- 3Y*
- 34.91%
- 5Y*
- —
- 10Y*
- —
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HODL vs. IBLC - Expense Ratio Comparison
HODL has a 0.25% expense ratio, which is lower than IBLC's 0.47% expense ratio.
Return for Risk
HODL vs. IBLC — Risk / Return Rank
HODL
IBLC
HODL vs. IBLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin Trust (HODL) and iShares Blockchain and Tech ETF (IBLC). 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 | IBLC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.44 | 0.87 | -1.31 |
Sortino ratioReturn per unit of downside risk | -0.37 | 1.50 | -1.87 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.17 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | -0.35 | 1.27 | -1.62 |
Martin ratioReturn relative to average drawdown | -0.75 | 2.80 | -3.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HODL | IBLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 0.87 | -1.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.23 | +0.14 |
Correlation
The correlation between HODL and IBLC is 0.70, 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.
Dividends
HODL vs. IBLC - Dividend Comparison
HODL has not paid dividends to shareholders, while IBLC's dividend yield for the trailing twelve months is around 7.07%.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HODL VanEck Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBLC iShares Blockchain and Tech ETF | 7.07% | 6.31% | 1.60% | 1.79% | 0.84% |
Drawdowns
HODL vs. IBLC - Drawdown Comparison
The maximum HODL drawdown since its inception was -49.25%, smaller than the maximum IBLC drawdown of -62.54%. Use the drawdown chart below to compare losses from any high point for HODL and IBLC.
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Drawdown Indicators
| HODL | IBLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.25% | -62.54% | +13.29% |
Max Drawdown (1Y)Largest decline over 1 year | -49.25% | -44.94% | -4.31% |
Current DrawdownCurrent decline from peak | -45.67% | -41.36% | -4.31% |
Average DrawdownAverage peak-to-trough decline | -14.14% | -26.02% | +11.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.20% | 20.32% | +2.88% |
Volatility
HODL vs. IBLC - Volatility Comparison
The current volatility for VanEck Bitcoin Trust (HODL) is 12.99%, while iShares Blockchain and Tech ETF (IBLC) has a volatility of 18.30%. This indicates that HODL experiences smaller price fluctuations and is considered to be less risky than IBLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HODL | IBLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.99% | 18.30% | -5.31% |
Volatility (6M)Calculated over the trailing 6-month period | 36.72% | 44.22% | -7.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.07% | 58.28% | -13.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.90% | 65.13% | -14.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.90% | 65.13% | -14.23% |