HODL vs. TQQQ
Compare and contrast key facts about VanEck Bitcoin Trust (HODL) and ProShares UltraPro QQQ (TQQQ).
HODL and TQQQ 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. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both HODL and TQQQ 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. TQQQ - Performance Comparison
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HODL vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HODL VanEck Bitcoin Trust | -22.04% | -6.42% | 99.75% |
TQQQ ProShares UltraPro QQQ | -17.87% | 34.35% | 59.59% |
Returns By Period
In the year-to-date period, HODL achieves a -22.04% return, which is significantly lower than TQQQ's -17.87% return.
HODL
- 1D
- 0.63%
- 1M
- -1.38%
- YTD
- -22.04%
- 6M
- -42.00%
- 1Y
- -19.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TQQQ
- 1D
- 3.72%
- 1M
- -12.88%
- YTD
- -17.87%
- 6M
- -17.28%
- 1Y
- 48.52%
- 3Y*
- 46.87%
- 5Y*
- 13.55%
- 10Y*
- 35.31%
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HODL vs. TQQQ - Expense Ratio Comparison
HODL has a 0.25% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Return for Risk
HODL vs. TQQQ — Risk / Return Rank
HODL
TQQQ
HODL vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin Trust (HODL) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.44 | 0.72 | -1.17 |
Sortino ratioReturn per unit of downside risk | -0.37 | 1.41 | -1.78 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.20 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | -0.35 | 1.41 | -1.76 |
Martin ratioReturn relative to average drawdown | -0.75 | 4.28 | -5.03 |
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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 0.72 | -1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.65 | -0.28 |
Correlation
The correlation between HODL and TQQQ is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HODL vs. TQQQ - Dividend Comparison
HODL has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.73%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HODL VanEck Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.73% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Drawdowns
HODL vs. TQQQ - Drawdown Comparison
The maximum HODL drawdown since its inception was -49.25%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for HODL and TQQQ.
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Drawdown Indicators
| HODL | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.25% | -81.66% | +32.41% |
Max Drawdown (1Y)Largest decline over 1 year | -49.25% | -36.97% | -12.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -45.67% | -28.08% | -17.59% |
Average DrawdownAverage peak-to-trough decline | -14.14% | -18.66% | +4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.20% | 12.13% | +11.07% |
Volatility
HODL vs. TQQQ - Volatility Comparison
The current volatility for VanEck Bitcoin Trust (HODL) is 12.99%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 19.74%. This indicates that HODL experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HODL | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.99% | 19.74% | -6.75% |
Volatility (6M)Calculated over the trailing 6-month period | 36.72% | 38.50% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.07% | 67.35% | -22.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.90% | 66.53% | -15.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.90% | 65.83% | -14.93% |