MORT vs. HODL

Last updated Aug 4, 2026

MORT (VanEck Mortgage REIT Income ETF) and HODL (VanEck Bitcoin Trust) are both exchange-traded funds - MORT is a REIT fund tracking the MVIS US Mortgage REITs Index, while HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, MORT returned 7.47% vs -43.61% for HODL. Their 0.23 correlation means their historical movements had little consistent relationship. MORT charges 0.43%/yr vs 0.25%/yr for HODL.

Performance

MORT vs. HODL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Mortgage REIT Income ETF (MORT) and VanEck Bitcoin Trust (HODL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MORT achieves a 0.24% return, which is significantly higher than HODL's -27.01% return.

MORT

• 1D: 0.83%
• 1M: -1.61%
• 6M: -1.81%
• YTD: 0.24%
• 1Y: 7.47%
• 3Y*: 5.65%
• 5Y*: -0.99%
• 10Y*: 1.76%
• ALL TIME*: 4.07%

HODL

• 1D: 1.52%
• 1M: 3.91%
• 6M: -18.14%
• YTD: -27.01%
• 1Y: -43.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HODL VanEck Bitcoin Trust	$18.51M	$17.76M	$22.96M
MORT VanEck Mortgage REIT Income ETF	$11.29M	$14.10M	$10.03M

MORT vs. HODL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MORT VanEck Mortgage REIT Income ETF	0.24%	12.17%	-0.29%
HODL VanEck Bitcoin Trust	-27.01%	-6.42%	91.50%

Correlation

The correlation between MORT and HODL is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.20
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.23

Return for Risk

MORT vs. HODL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MORT

MORT Risk / Return Rank: 20
MORT Sharpe Ratio Rank: 21
MORT Sortino Ratio Rank: 21
MORT Omega Ratio Rank: 20
MORT Calmar Ratio Rank: 20
MORT Martin Ratio Rank: 20

HODL

HODL Risk / Return Rank: 2
HODL Sharpe Ratio Rank: 2
HODL Sortino Ratio Rank: 2
HODL Omega Ratio Rank: 2
HODL Calmar Ratio Rank: 2
HODL Martin Ratio Rank: 3

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.

MORT vs. HODL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Mortgage REIT Income ETF (MORT) and VanEck Bitcoin Trust (HODL). 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.

	MORT	HODL	Difference
Sharpe ratio: Return per unit of total volatility	0.44	-0.99	+1.43
Sortino ratio: Return per unit of downside risk	0.72	-1.45	+2.17
Omega ratio: Gain probability vs. loss probability	1.09	0.84	+0.25
Calmar ratio: Return relative to maximum drawdown	0.53	-0.82	+1.35
Martin ratio: Return relative to average drawdown	1.27	-1.26	+2.53

MORT vs. HODL - Sharpe Ratio Comparison

The current MORT Sharpe Ratio is 0.44, which is higher than the HODL Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of MORT and HODL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MORT vs. HODL - Drawdown Comparison

The maximum MORT drawdown since its inception was -70.13%, which is greater than HODL's maximum drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for MORT and HODL.

Drawdown Indicators

	MORT	HODL	Difference
Max Drawdown Largest peak-to-trough decline	-70.13%	-53.20%	-16.93%
Max Drawdown (1Y) Largest decline over 1 year	-14.27%	-53.20%	+38.93%
Max Drawdown (3Y) Largest decline over 3 years	-19.93%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.13%	—	—
Current Drawdown Current decline from peak	-21.42%	-49.14%	+27.72%
Average Drawdown Average peak-to-trough decline	-15.37%	-18.22%	+2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.90%	34.70%	-28.80%

Volatility

MORT vs. HODL - Volatility Comparison

The current volatility for VanEck Mortgage REIT Income ETF (MORT) is 5.04%, while VanEck Bitcoin Trust (HODL) has a volatility of 8.96%. This indicates that MORT experiences smaller price fluctuations and is considered to be less risky than HODL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MORT	HODL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	8.96%	-3.92%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	33.76%	-21.36%
Volatility (1Y) Calculated over the trailing 1-year period	16.98%	44.33%	-27.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.59%	49.25%	-25.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.89%	49.25%	-20.36%

MORT vs. HODL - Expense Ratio Comparison

MORT has a 0.43% expense ratio, which is higher than HODL's 0.25% expense ratio.

Dividends

MORT vs. HODL - Dividend Comparison

MORT's dividend yield for the trailing twelve months is around 15.23%, while HODL has not paid dividends to shareholders.

Position	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%
MORT VanEck Mortgage REIT Income ETF	15.23%	12.76%	11.55%	12.18%	13.09%	8.21%	8.11%	7.36%	8.19%	7.82%	8.21%	9.91%

Frequently Asked Questions

Can I hold both MORT and HODL in my portfolio?

MORT and HODL have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MORT or HODL?

HODL has higher volatility (8.96%) compared to MORT (5.04%). In terms of maximum drawdown, MORT dropped -70.13% vs HODL's -53.20%.

Which ETF is better, MORT or HODL?

On 1-year performance, MORT leads with 7.47% vs -43.61% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, MORT has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MORT or HODL?

Over the 1-year period, MORT has performed better with a 7.47% return vs -43.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MORT or HODL?

HODL is cheaper with a 0.25% expense ratio, compared with 0.43% for MORT.

Which ETF pays a higher dividend yield, MORT or HODL?

MORT has the higher dividend yield at 15.23%, compared with 0.00% for HODL.

What is the main difference between MORT and HODL?

MORT is categorized as REIT, while HODL is Cryptocurrency. MORT tracks MVIS US Mortgage REITs Index, while HODL tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.43% for MORT and 0.25% for HODL.

Which has better risk-adjusted returns?

MORT currently has the higher Sharpe Ratio (0.44 vs -0.99), 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.