MVAL vs. HODL

Last updated Aug 4, 2026

MVAL (VanEck Morningstar Wide Moat Value ETF) and HODL (VanEck Bitcoin Trust) are both exchange-traded funds - MVAL is a Large Cap Value Equities fund tracking the Morningstar US Broad Value Wide Moat Focus Index - Benchmark TR Gross, while HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, MVAL returned 17.43% vs -43.61% for HODL. Their 0.27 correlation means their historical movements had little consistent relationship. MVAL charges 0.49%/yr vs 0.25%/yr for HODL.

Performance

MVAL vs. HODL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar Wide Moat Value ETF (MVAL) 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, MVAL achieves a 6.18% return, which is significantly higher than HODL's -27.01% return.

MVAL

• 1D: 1.13%
• 1M: 2.88%
• 6M: 1.32%
• YTD: 6.18%
• 1Y: 17.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.38%

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
MVAL VanEck Morningstar Wide Moat Value ETF	$7.88K	$11.28K	$24.52K

MVAL vs. HODL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVAL VanEck Morningstar Wide Moat Value ETF	6.18%	14.17%	6.27%
HODL VanEck Bitcoin Trust	-27.01%	-6.42%	35.96%

Correlation

The correlation between MVAL and HODL is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (All Time) Calculated using the full available price history since Mar 28, 2024	0.27

Return for Risk

MVAL vs. HODL — Risk / Return Rank

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

MVAL

MVAL Risk / Return Rank: 42
MVAL Sharpe Ratio Rank: 47
MVAL Sortino Ratio Rank: 50
MVAL Omega Ratio Rank: 44
MVAL Calmar Ratio Rank: 39
MVAL Martin Ratio Rank: 32

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.

MVAL vs. HODL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Wide Moat Value ETF (MVAL) 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.

	MVAL	HODL	Difference
Sharpe ratio: Return per unit of total volatility	1.26	-0.99	+2.25
Sortino ratio: Return per unit of downside risk	1.91	-1.45	+3.36
Omega ratio: Gain probability vs. loss probability	1.22	0.84	+0.38
Calmar ratio: Return relative to maximum drawdown	1.44	-0.82	+2.26
Martin ratio: Return relative to average drawdown	3.12	-1.26	+4.38

MVAL vs. HODL - Sharpe Ratio Comparison

The current MVAL Sharpe Ratio is 1.26, which is higher than the HODL Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of MVAL 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

MVAL vs. HODL - Drawdown Comparison

The maximum MVAL drawdown since its inception was -19.56%, smaller than the maximum HODL drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for MVAL and HODL.

Drawdown Indicators

	MVAL	HODL	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-53.20%	+33.64%
Max Drawdown (1Y) Largest decline over 1 year	-12.16%	-53.20%	+41.04%
Current Drawdown Current decline from peak	-2.82%	-49.14%	+46.32%
Average Drawdown Average peak-to-trough decline	-3.98%	-18.22%	+14.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.60%	34.70%	-29.10%

Volatility

MVAL vs. HODL - Volatility Comparison

The current volatility for VanEck Morningstar Wide Moat Value ETF (MVAL) is 4.74%, while VanEck Bitcoin Trust (HODL) has a volatility of 8.96%. This indicates that MVAL 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

	MVAL	HODL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	8.96%	-4.22%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	33.76%	-23.27%
Volatility (1Y) Calculated over the trailing 1-year period	13.89%	44.33%	-30.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	49.25%	-33.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.42%	49.25%	-33.83%

MVAL vs. HODL - Expense Ratio Comparison

MVAL has a 0.49% expense ratio, which is higher than HODL's 0.25% expense ratio.

Dividends

MVAL vs. HODL - Dividend Comparison

MVAL's dividend yield for the trailing twelve months is around 1.65%, while HODL has not paid dividends to shareholders.

Position	TTM	2025	2024
HODL VanEck Bitcoin Trust	0.00%	0.00%	0.00%
MVAL VanEck Morningstar Wide Moat Value ETF	1.65%	1.75%	0.97%

Frequently Asked Questions

Can I hold both MVAL and HODL in my portfolio?

MVAL and HODL have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVAL or HODL?

HODL has higher volatility (8.96%) compared to MVAL (4.74%). In terms of maximum drawdown, MVAL dropped -19.56% vs HODL's -53.20%.

Which ETF is better, MVAL or HODL?

On 1-year performance, MVAL leads with 17.43% vs -43.61% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, MVAL has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVAL or HODL?

Over the 1-year period, MVAL has performed better with a 17.43% return vs -43.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVAL or HODL?

HODL is cheaper with a 0.25% expense ratio, compared with 0.49% for MVAL.

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

MVAL has the higher dividend yield at 1.65%, compared with 0.00% for HODL.

What is the main difference between MVAL and HODL?

MVAL is categorized as Large Cap Value Equities, while HODL is Cryptocurrency. MVAL tracks Morningstar US Broad Value Wide Moat Focus Index - Benchmark TR Gross, while HODL tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.49% for MVAL and 0.25% for HODL.

Which has better risk-adjusted returns?

MVAL currently has the higher Sharpe Ratio (1.26 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.