STCE vs. DAPP

Last updated Jul 17, 2026

STCE (Schwab Crypto Thematic ETF) and DAPP (VanEck Digital Transformation ETF) are both Blockchain funds - STCE tracks the Schwab Crypto Thematic Index while DAPP tracks the MVIS Global Digital Assets Equity Index. Both are passively managed. Over the past 3 years, STCE returned 34.02%/yr vs 26.54%/yr for DAPP. With a 0.95 correlation, they move nearly in lockstep. STCE charges 0.30%/yr vs 0.52%/yr for DAPP.

Performance

STCE vs. DAPP - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with STCE having a 4.92% return and DAPP slightly higher at 5.14%.

STCE

• 1D: -5.43%
• 1M: -19.80%
• 6M: -13.18%
• YTD: 4.92%
• 1Y: 11.96%
• 3Y*: 34.02%
• 5Y*: —
• 10Y*: —

DAPP

• 1D: -6.21%
• 1M: -20.68%
• 6M: -13.45%
• YTD: 5.14%
• 1Y: -6.46%
• 3Y*: 26.54%
• 5Y*: -1.21%
• 10Y*: —

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

STCE vs. DAPP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
STCE Schwab Crypto Thematic ETF	4.92%	36.12%	41.76%	108.65%	-40.98%
DAPP VanEck Digital Transformation ETF	5.14%	15.03%	44.87%	285.02%	-61.47%

Correlation

The correlation between STCE and DAPP is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 4, 2022	0.95

The correlation between STCE and DAPP has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

STCE vs. DAPP - Sectors Allocation Comparison

Sectors	STCE	DAPP
Financial Services	70.4%	62.8%
Technology	22.5%	34.7%
Communication Services	7.1%	-
Energy	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	2.5%
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

STCE vs. DAPP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

STCE

STCE Risk / Return Rank: 14
STCE Sharpe Ratio Rank: 13
STCE Sortino Ratio Rank: 16
STCE Omega Ratio Rank: 15
STCE Calmar Ratio Rank: 12
STCE Martin Ratio Rank: 11

DAPP

DAPP Risk / Return Rank: 9
DAPP Sharpe Ratio Rank: 8
DAPP Sortino Ratio Rank: 11
DAPP Omega Ratio Rank: 10
DAPP Calmar Ratio Rank: 8
DAPP Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

STCE vs. DAPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Crypto Thematic ETF (STCE) 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.

	STCE	DAPP	Difference
Sharpe ratio: Return per unit of total volatility	0.19	-0.10	+0.30
Sortino ratio: Return per unit of downside risk	0.72	0.29	+0.42
Omega ratio: Gain probability vs. loss probability	1.08	1.03	+0.05
Calmar ratio: Return relative to maximum drawdown	0.22	-0.13	+0.36
Martin ratio: Return relative to average drawdown	0.38	-0.25	+0.62

STCE vs. DAPP - Sharpe Ratio Comparison

The current STCE Sharpe Ratio is 0.19, which is higher than the DAPP Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of STCE 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

STCE vs. DAPP - Drawdown Comparison

The maximum STCE drawdown since its inception was -54.11%, smaller than the maximum DAPP drawdown of -92.61%. Use the drawdown chart below to compare losses from any high point for STCE and DAPP.

Drawdown Indicators

	STCE	DAPP	Difference
Max Drawdown Largest peak-to-trough decline	-54.11%	-92.61%	+38.50%
Max Drawdown (1Y) Largest decline over 1 year	-54.11%	-48.21%	-5.90%
Max Drawdown (3Y) Largest decline over 3 years	-54.11%	-58.88%	+4.77%
Max Drawdown (5Y) Largest decline over 5 years	—	-91.90%	—
Current Drawdown Current decline from peak	-40.89%	-47.42%	+6.53%
Average Drawdown Average peak-to-trough decline	-22.28%	-60.92%	+38.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.90%	26.02%	+5.88%

Volatility

STCE vs. DAPP - Volatility Comparison

The current volatility for Schwab Crypto Thematic ETF (STCE) is 13.11%, while VanEck Digital Transformation ETF (DAPP) has a volatility of 13.90%. This indicates that STCE 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

	STCE	DAPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.11%	13.90%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	42.47%	46.23%	-3.76%
Volatility (1Y) Calculated over the trailing 1-year period	62.21%	62.60%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.96%	73.20%	-17.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.96%	72.59%	-16.63%

STCE vs. DAPP - Expense Ratio Comparison

STCE has a 0.30% expense ratio, which is lower than DAPP's 0.52% expense ratio.

Dividends

STCE vs. DAPP - Dividend Comparison

STCE's dividend yield for the trailing twelve months is around 1.80%, 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%
STCE Schwab Crypto Thematic ETF	1.80%	1.96%	0.64%	0.31%	1.46%	0.00%

Frequently Asked Questions

Can I hold both STCE and DAPP in my portfolio?

With a correlation of 0.97, STCE 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, STCE or DAPP?

DAPP has higher volatility (13.90%) compared to STCE (13.11%). In terms of maximum drawdown, STCE dropped -54.11% vs DAPP's -92.61%.

Which ETF is better, STCE or DAPP?

On 3-year performance, STCE leads with 34.02% vs 26.54% for DAPP. On fees, STCE is cheaper at 0.30% per year. On volatility, STCE has been the lower-risk option at 13.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STCE or DAPP?

Over the 3-year period, STCE has performed better with a 34.02% return vs 26.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STCE or DAPP?

STCE is cheaper with a 0.30% expense ratio, compared with 0.52% for DAPP.

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

STCE has the higher dividend yield at 1.80%, compared with 0.00% for DAPP.

What is the main difference between STCE and DAPP?

STCE tracks Schwab Crypto Thematic Index, while DAPP tracks MVIS Global Digital Assets Equity Index. They also come from different issuers: Charles Schwab and VanEck. Their fees differ too: 0.30% for STCE and 0.52% for DAPP.

Which has better risk-adjusted returns?

STCE currently has the higher Sharpe Ratio (0.19 vs -0.10), 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.