VSOL vs. HECO

Last updated Jun 25, 2026

VSOL (VanEck Solana ETF) and HECO (State Street Galaxy Hedged Digital Asset Ecosystem ETF) are both exchange-traded funds - VSOL is a Cryptocurrency fund actively managed by VanEck, while HECO is a Blockchain fund actively managed by State Street. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. VSOL charges 0.30%/yr vs 0.90%/yr for HECO.

Performance

VSOL vs. HECO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Solana ETF (VSOL) and State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSOL achieves a -45.57% return, which is significantly lower than HECO's 69.04% return.

VSOL

• 1D: -4.02%
• 1M: -21.64%
• YTD: -45.57%
• 6M: -44.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HECO

• 1D: -2.16%
• 1M: 10.40%
• YTD: 69.04%
• 6M: 60.94%
• 1Y: 123.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VSOL vs. HECO - Yearly Performance Comparison

	2026 (YTD)	2025
VSOL VanEck Solana ETF	-45.57%	-10.89%
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	69.04%	-2.28%

Correlation

The correlation between VSOL and HECO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.62

Return for Risk

VSOL vs. HECO — Risk / Return Rank

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

VSOL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HECO

HECO Risk / Return Rank: 91
HECO Sharpe Ratio Rank: 95
HECO Sortino Ratio Rank: 91
HECO Omega Ratio Rank: 88
HECO Calmar Ratio Rank: 93
HECO Martin Ratio Rank: 88

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.

VSOL vs. HECO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Solana ETF (VSOL) and State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO). 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.

	VSOL	HECO	Difference
Sharpe ratio: Return per unit of total volatility	—	3.32	—
Sortino ratio: Return per unit of downside risk	—	3.74	—
Omega ratio: Gain probability vs. loss probability	—	1.47	—
Calmar ratio: Return relative to maximum drawdown	—	5.90	—
Martin ratio: Return relative to average drawdown	—	16.86	—

Drawdowns

VSOL vs. HECO - Drawdown Comparison

The maximum VSOL drawdown since its inception was -56.18%, which is greater than HECO's maximum drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for VSOL and HECO.

Drawdown Indicators

	VSOL	HECO	Difference
Max Drawdown Largest peak-to-trough decline	-56.18%	-44.59%	-11.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.03%	—
Current Drawdown Current decline from peak	-54.24%	-3.52%	-50.72%
Average Drawdown Average peak-to-trough decline	-30.90%	-11.51%	-19.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.35%	—

Volatility

Volatility by Period

	VSOL	HECO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	74.29%	37.54%	+36.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.29%	44.67%	+29.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.29%	44.67%	+29.62%

VSOL vs. HECO - Expense Ratio Comparison

VSOL has a 0.30% expense ratio, which is lower than HECO's 0.90% expense ratio.

Dividends

VSOL vs. HECO - Dividend Comparison

Neither VSOL nor HECO has paid dividends to shareholders.

Position	TTM	2025	2024
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	0.00%	0.00%	2.61%
VSOL VanEck Solana ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSOL and HECO in my portfolio?

VSOL and HECO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VSOL or HECO?

On fees, VSOL is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VSOL or HECO?

VSOL is cheaper with a 0.30% expense ratio, compared with 0.90% for HECO.

Which ETF pays a higher dividend yield, VSOL or HECO?

VSOL and HECO have nearly identical dividend yields, around 0.00%.

What is the main difference between VSOL and HECO?

VSOL is categorized as Cryptocurrency, while HECO is Blockchain. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.30% for VSOL and 0.90% for HECO.