MARA vs. DAPP
MARA (MARA Holdings, Inc.) is a stock, while DAPP (VanEck Digital Transformation ETF) is Technology Equities fund tracking the MVIS Global Digital Assets Equity Index. Over the past 5 years, MARA returned -12.51%/yr vs -0.86%/yr for DAPP. Their correlation of 0.87 suggests significant overlap in exposure.
Performance
MARA vs. DAPP - Performance Comparison
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Returns By Period
In the year-to-date period, MARA achieves a 51.56% return, which is significantly higher than DAPP's 25.17% return.
MARA
- 1D
- 7.84%
- 1M
- 7.00%
- YTD
- 51.56%
- 6M
- 14.95%
- 1Y
- -16.76%
- 3Y*
- 13.41%
- 5Y*
- -12.51%
- 10Y*
- -10.54%
DAPP
- 1D
- 6.87%
- 1M
- -4.74%
- YTD
- 25.17%
- 6M
- 4.13%
- 1Y
- 38.49%
- 3Y*
- 57.49%
- 5Y*
- -0.86%
- 10Y*
- —
MARA vs. DAPP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MARA MARA Holdings, Inc. | 51.56% | -46.45% | -28.61% | 586.84% | -89.59% | -35.57% |
DAPP VanEck Digital Transformation ETF | 25.17% | 15.03% | 44.87% | 285.02% | -85.60% | -45.88% |
Correlation
The correlation between MARA and DAPP is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2021 | 0.87 |
The correlation between MARA and DAPP has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.
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Return for Risk
MARA vs. DAPP — Risk / Return Rank
MARA
DAPP
MARA vs. DAPP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MARA Holdings, Inc. (MARA) 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.
| MARA | DAPP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.14 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 0.80 | -1.04 |
| Martin ratioReturn relative to average drawdown | -0.40 | 1.56 | -1.95 |
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Drawdowns
MARA vs. DAPP - Drawdown Comparison
The maximum MARA drawdown since its inception was -99.74%, which is greater than DAPP's maximum drawdown of -92.61%. Use the drawdown chart below to compare losses from any high point for MARA and DAPP.
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Drawdown Indicators
| MARA | DAPP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.74% | -92.61% | -7.13% |
Max Drawdown (1Y)Largest decline over 1 year | -70.53% | -48.21% | -22.32% |
Max Drawdown (3Y)Largest decline over 3 years | -78.34% | -58.88% | -19.46% |
Max Drawdown (5Y)Largest decline over 5 years | -95.87% | -91.90% | -3.97% |
Max Drawdown (10Y)Largest decline over 10 years | -99.20% | — | — |
Current DrawdownCurrent decline from peak | -91.20% | -37.41% | -53.79% |
Average DrawdownAverage peak-to-trough decline | -78.00% | -61.28% | -16.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.52% | 24.81% | +17.71% |
Volatility
MARA vs. DAPP - Volatility Comparison
MARA Holdings, Inc. (MARA) has a higher volatility of 23.52% compared to VanEck Digital Transformation ETF (DAPP) at 19.25%. This indicates that MARA's price experiences larger fluctuations and is considered to be riskier 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
| MARA | DAPP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.52% | 19.25% | +4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 60.48% | 47.92% | +12.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.23% | 62.53% | +16.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 106.02% | 73.13% | +32.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 144.15% | 72.92% | +71.23% |
Dividends
MARA vs. DAPP - Dividend Comparison
Neither MARA nor DAPP has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DAPP VanEck Digital Transformation ETF | 0.00% | 0.00% | 4.04% | 0.00% | 0.00% | 10.13% |
MARA MARA Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MARA and DAPP have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MARA has higher volatility (23.52%) compared to DAPP (19.25%). In terms of maximum drawdown, MARA dropped -99.74% vs DAPP's -92.61%.
DAPP currently has the higher Sharpe Ratio (0.62 vs -0.21), 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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