WARP vs. HODL

Last updated Jun 4, 2026

WARP (VanEck Space ETF) and HODL (VanEck Bitcoin Trust) are both exchange-traded funds - WARP is a Industrials Equities fund tracking the MarketVector Space Index, while HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. At a 0.43 correlation, their price movements are largely independent. WARP charges 0.50%/yr vs 0.25%/yr for HODL.

Performance

WARP vs. HODL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Space ETF (WARP) and VanEck Bitcoin Trust (HODL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WARP

• 1D: -6.84%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HODL

• 1D: -2.79%
• 1M: -18.34%
• YTD: -25.27%
• 6M: -29.73%
• 1Y: -38.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WARP vs. HODL - Yearly Performance Comparison

	2026 (YTD)
WARP VanEck Space ETF	23.47%
HODL VanEck Bitcoin Trust	-18.48%

Correlation

The correlation between WARP and HODL is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 8, 2026	0.43

Return for Risk

WARP vs. HODL — Risk / Return Rank

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

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: 2

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.

WARP vs. HODL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Space ETF (WARP) 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.

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

Sharpe Ratios by Period

	WARP	HODL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	22.26	0.30	+21.96

Drawdowns

WARP vs. HODL - Drawdown Comparison

The maximum WARP drawdown since its inception was -18.67%, smaller than the maximum HODL drawdown of -49.25%. Use the drawdown chart below to compare losses from any high point for WARP and HODL.

Drawdown Indicators

	WARP	HODL	Difference
Max Drawdown Largest peak-to-trough decline	-18.67%	-49.25%	+30.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-49.25%	—
Current Drawdown Current decline from peak	-18.67%	-47.93%	+29.26%
Average Drawdown Average peak-to-trough decline	-3.23%	-15.97%	+12.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	28.35%	—

Volatility

Volatility by Period

	WARP	HODL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	83.83%	43.51%	+40.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.83%	49.88%	+33.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.83%	49.88%	+33.95%

WARP vs. HODL - Expense Ratio Comparison

WARP has a 0.50% expense ratio, which is higher than HODL's 0.25% expense ratio.

Dividends

WARP vs. HODL - Dividend Comparison

Neither WARP nor HODL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both WARP and HODL in my portfolio?

WARP and HODL have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WARP or HODL?

On fees, HODL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WARP or HODL?

HODL is cheaper with a 0.25% expense ratio, compared with 0.50% for WARP.

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

WARP and HODL have nearly identical dividend yields, around 0.00%.

What is the main difference between WARP and HODL?

WARP is categorized as Industrials Equities, while HODL is Cryptocurrency. WARP tracks MarketVector Space Index, while HODL tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.50% for WARP and 0.25% for HODL.