HODL vs. IBLC
HODL (VanEck Bitcoin Trust) and IBLC (iShares Blockchain and Tech ETF) are both Cryptocurrency funds - HODL tracks the CME CF Bitcoin Reference Rate - New York Variant while IBLC tracks the ICE FactSet Global Blockchain Technologies Index. Both are passively managed. Over the past year, HODL returned -39.68% vs 63.95% for IBLC. A 0.70 correlation means they provide meaningful diversification when combined. HODL charges 0.25%/yr vs 0.47%/yr for IBLC.
Performance
HODL vs. IBLC - Performance Comparison
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Returns By Period
In the year-to-date period, HODL achieves a -28.75% return, which is significantly lower than IBLC's 27.22% return.
HODL
- 1D
- -3.24%
- 1M
- -17.82%
- YTD
- -28.75%
- 6M
- -28.92%
- 1Y
- -39.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBLC
- 1D
- -2.19%
- 1M
- -0.02%
- YTD
- 27.22%
- 6M
- 19.07%
- 1Y
- 63.95%
- 3Y*
- 45.22%
- 5Y*
- —
- 10Y*
- —
HODL vs. IBLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HODL VanEck Bitcoin Trust | -28.75% | -6.42% | 91.50% |
IBLC iShares Blockchain and Tech ETF | 27.22% | 27.05% | 20.96% |
Correlation
The correlation between HODL and IBLC is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.70 |
The correlation between HODL and IBLC has been stable across timeframes, ranging from 0.70 to 0.71 - a consistent structural relationship.
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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.
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 | IBLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.99 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.21 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.43 | -2.20 |
| Martin ratioReturn relative to average drawdown | -1.30 | 2.80 | -4.11 |
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Drawdowns
HODL vs. IBLC - Drawdown Comparison
The maximum HODL drawdown since its inception was -51.96%, 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 | -51.96% | -62.54% | +10.58% |
Max Drawdown (1Y)Largest decline over 1 year | -51.96% | -44.94% | -7.02% |
Max Drawdown (3Y)Largest decline over 3 years | — | -51.68% | — |
Current DrawdownCurrent decline from peak | -50.35% | -16.36% | -33.99% |
Average DrawdownAverage peak-to-trough decline | -16.78% | -25.76% | +8.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.49% | 22.89% | +7.60% |
Volatility
HODL vs. IBLC - Volatility Comparison
The current volatility for VanEck Bitcoin Trust (HODL) is 13.07%, while iShares Blockchain and Tech ETF (IBLC) has a volatility of 16.66%. 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 | 13.07% | 16.66% | -3.59% |
Volatility (6M)Calculated over the trailing 6-month period | 34.59% | 41.64% | -7.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.11% | 55.87% | -11.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.89% | 64.51% | -14.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.89% | 64.51% | -14.62% |
HODL vs. IBLC - Expense Ratio Comparison
HODL has a 0.25% expense ratio, which is lower than IBLC's 0.47% expense ratio.
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 4.92%.
| Position | 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 | 4.92% | 6.31% | 1.60% | 1.79% | 0.84% |
Frequently Asked Questions
HODL and IBLC have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBLC has higher volatility (16.66%) compared to HODL (13.07%). In terms of maximum drawdown, HODL dropped -51.96% vs IBLC's -62.54%.
On 1-year performance, IBLC leads with 63.95% vs -39.68% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, HODL has been the lower-risk option at 13.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBLC has performed better with a 63.95% return vs -39.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HODL is cheaper with a 0.25% expense ratio, compared with 0.47% for IBLC.
IBLC has the higher dividend yield at 4.92%, compared with 0.00% for HODL.
HODL tracks CME CF Bitcoin Reference Rate - New York Variant, while IBLC tracks ICE FactSet Global Blockchain Technologies Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.25% for HODL and 0.47% for IBLC.
IBLC currently has the higher Sharpe Ratio (1.15 vs -0.90), 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.
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