HODL — VanEck Bitcoin ETF

HODL Price Performance — Growth of $10,000

Value of a $10,000 investment in HODL over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

HODL Drawdown

The "underwater" chart: HODL's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The VanEck Bitcoin ETF (HODL) is a crypto-focused fund issued by VanEck with $1.23 billion in assets under management. It holds the lowest grade in its category, receiving an F rating with a score of 34.1 out of 100. The fund ranks 8th out of 11 peers in the Crypto category and 440th out of 458 tracked ETFs overall. Unlike the category median expense ratio of 0.25%, this fund does not disclose an expense ratio. It also diverges from the category median dividend yield of 1.88% by providing no income distribution.

The fund's price of $22.96 sits at 39.9% of its 52-week range between $16.40 and $32.85. Short-term performance shows a decline over the last month of -3.73%, contrasting with a strong 25.05% gain over the three-month horizon. Over the past year, the fund returned -24.67%, slightly outperforming the category median of -24.91%. The rating has remained unchanged at F for the last 35 tracked days. Historical analysis is limited by only 2.8 years of price data, preventing the establishment of a three-year return record.

Annualized volatility of 44.80% is classified as Very High, indicating significant price fluctuation. The Sharpe ratio of -0.66 suggests that risk-adjusted returns have been negative. Maximum drawdown reached -53.20%, reflecting substantial peak-to-trough losses. Beta data is not available, so relative market movement cannot be quantified. Liquidity is supported by an average daily volume of 980,826 shares.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

HODL Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 981K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $1.23B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: HODL is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

HODL Performance History

How HODL Compares to Other Crypto ETFs