NODE vs. DAPP

Last updated Aug 1, 2026

NODE (VanEck Onchain Economy ETF) and DAPP (VanEck Digital Transformation ETF) are both Blockchain funds from VanEck. NODE is actively managed, while DAPP is passively managed. Over the past year, NODE returned 25.79% vs 9.98% for DAPP. Their correlation of 0.95 means they have usually moved in the same direction. NODE charges 0.69%/yr vs 0.52%/yr for DAPP.

Performance

NODE vs. DAPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Onchain Economy ETF (NODE) and VanEck Digital Transformation ETF (DAPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NODE achieves a 7.73% return, which is significantly higher than DAPP's 6.65% return.

NODE

• 1D: -2.28%
• 1M: -7.11%
• 6M: -1.11%
• YTD: 7.73%
• 1Y: 25.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 33.91%

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

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DAPP VanEck Digital Transformation ETF	$5.30M	$5.85M	$16.14M
NODE VanEck Onchain Economy ETF	$281.15K	$306.49K	$518.92K

NODE vs. DAPP - Yearly Performance Comparison

	2026 (YTD)	2025
NODE VanEck Onchain Economy ETF	7.73%	32.27%
DAPP VanEck Digital Transformation ETF	6.65%	27.94%

Correlation

The correlation between NODE and DAPP is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (All Time) Calculated using the full available price history since May 14, 2025	0.95

The correlation between NODE and DAPP has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

NODE vs. DAPP — Risk / Return Rank

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

NODE

NODE Risk / Return Rank: 22
NODE Sharpe Ratio Rank: 20
NODE Sortino Ratio Rank: 24
NODE Omega Ratio Rank: 23
NODE Calmar Ratio Rank: 21
NODE Martin Ratio Rank: 20

DAPP

DAPP Risk / Return Rank: 13
DAPP Sharpe Ratio Rank: 11
DAPP Sortino Ratio Rank: 16
DAPP Omega Ratio Rank: 15
DAPP Calmar Ratio Rank: 11
DAPP Martin Ratio Rank: 11

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.

NODE vs. DAPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Onchain Economy ETF (NODE) 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.

	NODE	DAPP	Difference
Sharpe ratio: Return per unit of total volatility	0.40	0.01	+0.39
Sortino ratio: Return per unit of downside risk	0.90	0.48	+0.41
Omega ratio: Gain probability vs. loss probability	1.10	1.05	+0.05
Calmar ratio: Return relative to maximum drawdown	0.57	0.02	+0.55
Martin ratio: Return relative to average drawdown	1.19	0.03	+1.16

NODE vs. DAPP - Sharpe Ratio Comparison

The current NODE Sharpe Ratio is 0.40, which is higher than the DAPP Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of NODE 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.

Drawdowns

NODE vs. DAPP - Drawdown Comparison

The maximum NODE drawdown since its inception was -35.35%, smaller than the maximum DAPP drawdown of -92.61%. Use the drawdown chart below to compare losses from any high point for NODE and DAPP.

Drawdown Indicators

	NODE	DAPP	Difference
Max Drawdown Largest peak-to-trough decline	-35.35%	-92.61%	+57.26%
Max Drawdown (1Y) Largest decline over 1 year	-35.35%	-48.21%	+12.86%
Max Drawdown (3Y) Largest decline over 3 years	—	-58.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-91.90%	—
Current Drawdown Current decline from peak	-21.12%	-46.67%	+25.55%
Average Drawdown Average peak-to-trough decline	-11.37%	-60.79%	+49.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.88%	26.69%	-9.81%

Volatility

NODE vs. DAPP - Volatility Comparison

The current volatility for VanEck Onchain Economy ETF (NODE) is 20.06%, while VanEck Digital Transformation ETF (DAPP) has a volatility of 21.95%. This indicates that NODE 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.

Volatility by Period

	NODE	DAPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.06%	21.95%	-1.89%
Volatility (6M) Calculated over the trailing 6-month period	38.93%	47.95%	-9.02%
Volatility (1Y) Calculated over the trailing 1-year period	50.60%	64.80%	-14.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.18%	73.12%	-25.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.18%	72.72%	-25.54%

NODE vs. DAPP - Expense Ratio Comparison

NODE has a 0.69% expense ratio, which is higher than DAPP's 0.52% expense ratio.

Dividends

NODE vs. DAPP - Dividend Comparison

NODE's dividend yield for the trailing twelve months is around 1.04%, while DAPP has not 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%
NODE VanEck Onchain Economy ETF	1.04%	1.12%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NODE and DAPP in my portfolio?

With a correlation of 0.96, NODE and DAPP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NODE or DAPP?

DAPP has higher volatility (21.95%) compared to NODE (20.06%). In terms of maximum drawdown, NODE dropped -35.35% vs DAPP's -92.61%.

Which ETF is better, NODE or DAPP?

On 1-year performance, NODE leads with 25.79% vs 9.98% for DAPP. On fees, DAPP is cheaper at 0.52% per year. On volatility, NODE has been the lower-risk option at 20.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NODE or DAPP?

Over the 1-year period, NODE has performed better with a 25.79% return vs 9.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NODE or DAPP?

DAPP is cheaper with a 0.52% expense ratio, compared with 0.69% for NODE.

Which ETF pays a higher dividend yield, NODE or DAPP?

NODE has the higher dividend yield at 1.04%, compared with 0.00% for DAPP.

What is the main difference between NODE and DAPP?

Their fees differ too: 0.69% for NODE and 0.52% for DAPP.

Which has better risk-adjusted returns?

NODE currently has the higher Sharpe Ratio (0.40 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.