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LEGR vs. DAPP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LEGR vs. DAPP

Last updated Aug 2, 2026
Documentation

LEGR (First Trust Indxx Innovative Transaction & Process ETF) and DAPP (VanEck Digital Transformation ETF) are both Blockchain funds - LEGR tracks the Indxx Blockchain Index while DAPP tracks the MVIS Global Digital Assets Equity Index. Both are passively managed. Over the past 5 years, LEGR returned 11.85%/yr vs -3.48%/yr for DAPP. Their 0.57 correlation means they have sometimes moved together and sometimes differently. LEGR charges 0.65%/yr vs 0.52%/yr for DAPP.

Performance

LEGR vs. DAPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Indxx Innovative Transaction & Process ETF (LEGR) and VanEck Digital Transformation ETF (DAPP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, LEGR achieves a 11.04% return, which is significantly higher than DAPP's 6.65% return.

LEGR

1D
0.10%
1M
2.17%
6M
6.41%
YTD
11.04%
1Y
26.44%
3Y*
20.93%
5Y*
11.85%
10Y*
—
ALL TIME*
11.72%

DAPP

1D
-3.40%
1M
-4.60%
6M
-2.22%
YTD
6.65%
1Y
9.98%
3Y*
30.75%
5Y*
-3.48%
10Y*
—
ALL TIME*
-11.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DAPP

VanEck Digital Transformation ETF
$5.30M$5.85M$16.14M

LEGR

First Trust Indxx Innovative Transaction & Process ETF
$161.15K$131.30K$172.81K

LEGR vs. DAPP - Yearly Performance Comparison

2026 (YTD)20252024202320222021
LEGR
First Trust Indxx Innovative Transaction & Process ETF		11.04%30.83%16.25%22.79%-19.01%7.79%
DAPP
VanEck Digital Transformation ETF		6.65%15.03%44.87%285.02%-85.60%-45.88%

Correlation

The correlation between LEGR and DAPP is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.61

Correlation (3Y)
Balances recent behavior with more history.

0.53

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.58

Correlation (All Time)
Calculated using the full available price history since Apr 14, 2021

0.57

The correlation between LEGR and DAPP has been stable across timeframes, ranging from 0.53 to 0.61 - a consistent structural relationship.

LEGR vs. DAPP - Sectors Allocation Comparison

Sectors
LEGR
DAPP

Financial Services

41.2%
61.8%

Technology

31.8%
35.4%

Communication Services

7.7%

-

Consumer Cyclical

7.5%
2.8%

Industrials

5.6%

-

Utilities

2.0%

-

Basic Materials

1.5%

-

Consumer Defensive

1.2%

-

Healthcare

0.8%

-

Energy

0.6%

-

Real Estate

-

-

Financial Services

LEGR
41.2%
DAPP
61.8%

Technology

LEGR
31.8%
DAPP
35.4%

Communication Services

LEGR
7.7%
DAPP

-

Consumer Cyclical

LEGR
7.5%
DAPP
2.8%

Industrials

LEGR
5.6%
DAPP

-

Utilities

LEGR
2.0%
DAPP

-

Basic Materials

LEGR
1.5%
DAPP

-

Consumer Defensive

LEGR
1.2%
DAPP

-

Healthcare

LEGR
0.8%
DAPP

-

Energy

LEGR
0.6%
DAPP

-

Real Estate

LEGR

-

DAPP

-

Compare stocks, funds, or ETFs

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First Trust Indxx Innovative Transaction & Process ETF

VanEck Digital Transformation ETF

Often compared with LEGR:
LEGR vs. BLOKLEGR vs. IBLCLEGR vs. BITOLEGR vs. VOOLEGR vs. VGTLEGR vs. IBITLEGR vs. BITW
Often compared with DAPP:
DAPP vs. BLOKDAPP vs. BKCHDAPP vs. FDIGDAPP vs. BITQDAPP vs. WGMIDAPP vs. DAPP.LDAPP vs. CRPT

Return for Risk

LEGR vs. DAPP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
LEGR
LEGR Risk / Return Rank: 6969
Overall Rank
LEGR Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
LEGR Sortino Ratio Rank: 7171
Sortino Ratio Rank
LEGR Omega Ratio Rank: 7070
Omega Ratio Rank
LEGR Calmar Ratio Rank: 6969
Calmar Ratio Rank
LEGR Martin Ratio Rank: 6565
Martin Ratio Rank
DAPP
DAPP Risk / Return Rank: 1313
Overall Rank
DAPP Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
DAPP Sortino Ratio Rank: 1616
Sortino Ratio Rank
DAPP Omega Ratio Rank: 1515
Omega Ratio Rank
DAPP Calmar Ratio Rank: 1111
Calmar Ratio Rank
DAPP Martin Ratio Rank: 1111
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LEGR vs. DAPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Innovative Transaction & Process ETF (LEGR) and VanEck Digital Transformation ETF (DAPP). 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.

LEGRDAPPDifference
Sharpe ratioReturn per unit of total volatility
1.66
0.01

+1.65

Sortino ratioReturn per unit of downside risk
2.29
0.48

+1.80

Omega ratioGain probability vs. loss probability

1.29

1.05

+0.24

Calmar ratioReturn relative to maximum drawdown

2.37

0.02

+2.35

Martin ratioReturn relative to average drawdown

7.75

0.03

+7.73

LEGR vs. DAPP - Sharpe Ratio Comparison

The current LEGR Sharpe Ratio is 1.66, which is higher than the DAPP Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of LEGR and DAPP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

LEGR vs. DAPP - Drawdown Comparison

The maximum LEGR drawdown since its inception was -36.12%, smaller than the maximum DAPP drawdown of -92.61%. Use the drawdown chart below to compare losses from any high point for LEGR and DAPP.

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Drawdown Indicators

LEGRDAPPDifference

Max Drawdown

Largest peak-to-trough decline

-36.12%

-92.61%

+56.49%

Max Drawdown (1Y)

Largest decline over 1 year

-10.40%

-48.21%

+37.81%

Max Drawdown (3Y)

Largest decline over 3 years

-14.25%

-58.88%

+44.63%

Max Drawdown (5Y)

Largest decline over 5 years

-31.45%

-91.90%

+60.45%

Current Drawdown

Current decline from peak

-2.68%

-46.67%

+43.99%

Average Drawdown

Average peak-to-trough decline

-6.56%

-60.79%

+54.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.17%

26.69%

-23.52%

Volatility

LEGR vs. DAPP - Volatility Comparison

The current volatility for First Trust Indxx Innovative Transaction & Process ETF (LEGR) is 4.38%, while VanEck Digital Transformation ETF (DAPP) has a volatility of 21.95%. This indicates that LEGR experiences smaller price fluctuations and is considered to be less risky than DAPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LEGRDAPPDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.38%

21.95%

-17.57%

Volatility (6M)

Calculated over the trailing 6-month period

12.51%

47.95%

-35.44%

Volatility (1Y)

Calculated over the trailing 1-year period

14.83%

64.80%

-49.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.08%

73.12%

-56.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.26%

72.72%

-52.46%

LEGR vs. DAPP - Expense Ratio Comparison

LEGR has a 0.65% expense ratio, which is higher than DAPP's 0.52% expense ratio.

Dividends

LEGR vs. DAPP - Dividend Comparison

LEGR's dividend yield for the trailing twelve months is around 1.80%, while DAPP has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
DAPP
VanEck Digital Transformation ETF		0.00%0.00%4.04%0.00%0.00%10.13%0.00%0.00%0.00%
LEGR
First Trust Indxx Innovative Transaction & Process ETF		1.80%1.84%2.40%2.56%2.64%1.80%0.95%2.04%1.30%

Frequently Asked Questions

LEGR and DAPP have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DAPP has higher volatility (21.95%) compared to LEGR (4.38%). In terms of maximum drawdown, LEGR dropped -36.12% vs DAPP's -92.61%.

On 5-year performance, LEGR leads with 11.85% vs -3.48% for DAPP. On fees, DAPP is cheaper at 0.52% per year. On volatility, LEGR has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, LEGR has performed better with a 11.85% return vs -3.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DAPP is cheaper with a 0.52% expense ratio, compared with 0.65% for LEGR.

LEGR has the higher dividend yield at 1.80%, compared with 0.00% for DAPP.

LEGR tracks Indxx Blockchain Index, while DAPP tracks MVIS Global Digital Assets Equity Index. They also come from different issuers: First Trust and VanEck. Their fees differ too: 0.65% for LEGR and 0.52% for DAPP.

LEGR currently has the higher Sharpe Ratio (1.66 vs 0.01), 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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