QBF vs. DAPP
QBF (Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly) and DAPP (VanEck Digital Transformation ETF) are both exchange-traded funds - QBF is a Blockchain fund actively managed by Innovator, while DAPP is a Technology Equities fund tracking the MVIS Global Digital Assets Equity Index. QBF is actively managed, while DAPP is passively managed. Over the past year, QBF returned -35.86% vs 50.76% for DAPP. A 0.68 correlation means they provide meaningful diversification when combined. QBF charges 0.79%/yr vs 0.50%/yr for DAPP.
Performance
QBF vs. DAPP - Performance Comparison
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Returns By Period
In the year-to-date period, QBF achieves a -23.63% return, which is significantly lower than DAPP's 31.34% return.
QBF
- 1D
- -2.17%
- 1M
- -14.35%
- YTD
- -23.63%
- 6M
- -27.96%
- 1Y
- -35.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DAPP
- 1D
- -1.27%
- 1M
- 4.58%
- YTD
- 31.34%
- 6M
- 10.15%
- 1Y
- 50.76%
- 3Y*
- 59.16%
- 5Y*
- -0.41%
- 10Y*
- —
QBF vs. DAPP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly | -23.63% | -14.22% |
DAPP VanEck Digital Transformation ETF | 31.34% | 10.79% |
Correlation
The correlation between QBF and DAPP is 0.67, 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 | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025 | 0.68 |
The correlation between QBF and DAPP has been stable across timeframes, ranging from 0.67 to 0.68 - a consistent structural relationship.
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Return for Risk
QBF vs. DAPP — Risk / Return Rank
QBF
DAPP
QBF vs. DAPP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF) 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.
| QBF | DAPP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -3.49 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.17 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 1.06 | -1.90 |
| Martin ratioReturn relative to average drawdown | -1.48 | 2.07 | -3.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QBF | DAPP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.37 | 0.83 | -2.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.97 | -0.08 | -0.89 |
Drawdowns
QBF vs. DAPP - Drawdown Comparison
The maximum QBF drawdown since its inception was -42.92%, smaller than the maximum DAPP drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for QBF and DAPP.
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Drawdown Indicators
| QBF | DAPP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.92% | -91.90% | +48.98% |
Max Drawdown (1Y)Largest decline over 1 year | -42.92% | -48.21% | +5.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -58.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -91.90% | — |
Current DrawdownCurrent decline from peak | -42.92% | -27.99% | -14.93% |
Average DrawdownAverage peak-to-trough decline | -16.82% | -57.40% | +40.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.20% | 24.58% | -0.38% |
Volatility
QBF vs. DAPP - Volatility Comparison
The current volatility for Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF) is 7.09%, while VanEck Digital Transformation ETF (DAPP) has a volatility of 15.08%. This indicates that QBF 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
| QBF | DAPP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 15.08% | -7.99% |
Volatility (6M)Calculated over the trailing 6-month period | 18.56% | 46.27% | -27.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.36% | 61.53% | -35.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.53% | 72.90% | -44.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.53% | 72.62% | -44.09% |
QBF vs. DAPP - Expense Ratio Comparison
QBF has a 0.79% expense ratio, which is higher than DAPP's 0.50% expense ratio.
Dividends
QBF vs. DAPP - Dividend Comparison
QBF's dividend yield for the trailing twelve months is around 1.81%, 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% |
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly | 1.81% | 1.38% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QBF and DAPP have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAPP has higher volatility (15.08%) compared to QBF (7.09%). In terms of maximum drawdown, QBF dropped -42.92% vs DAPP's -91.90%.
On 1-year performance, DAPP leads with 50.76% vs -35.86% for QBF. On fees, DAPP is cheaper at 0.50% per year. On volatility, QBF has been the lower-risk option at 7.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DAPP has performed better with a 50.76% return vs -35.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DAPP is cheaper with a 0.50% expense ratio, compared with 0.79% for QBF.
QBF has the higher dividend yield at 1.81%, compared with 0.00% for DAPP.
QBF is categorized as Blockchain, while DAPP is Technology Equities. They also come from different issuers: Innovator and VanEck. Their fees differ too: 0.79% for QBF and 0.50% for DAPP.
DAPP currently has the higher Sharpe Ratio (0.83 vs -1.37), 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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