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) operates within the Crypto category, which currently contains 11 ETFs tracked by ETFValuer. Issued by VanEck, the fund holds $952 million in assets under management and trades at a price of $18.33 per share. It carries an overall rank of #450 out of 458 tracked ETFs across all categories, resulting in an ETFValuer grade of F with a score of 30.0 out of 100. The fund does not disclose an expense ratio and offers a dividend yield of 0.00%. The absence of income distribution and the specific asset size reflect the fund's focus on price appreciation rather than yield generation. Its position near the bottom of the total tracked universe suggests limited relative performance compared to the broader market of available funds.

Recent price action shows a decline of 1.74% over the last day, following a 0.91% gain during the previous week. Over the last month, the fund posted a return of 4.00%, yet this short-term gain contrasts sharply with longer-term losses. The three-month return stands at -17.86%, while the six-month period reflects a deeper decline of -28.05%. Year-to-date performance is down 27.77%, and the one-year return has fallen to -45.74%. Data for the three-year horizon is not available. The trajectory indicates a pattern where short-term volatility has not translated into sustained positive returns over the annual timeframe.

The fund is assigned a Very High volatility label, indicating significant price fluctuations relative to the broader market. A Sharpe ratio of -1.15 suggests that the returns generated have not compensated investors for the level of risk taken. The maximum drawdown recorded is -53.20%, highlighting the potential for severe capital erosion during market downturns. Beta data is not provided, so the specific sensitivity to market movements cannot be quantified from these figures. The combination of a negative Sharpe ratio and a deep maximum drawdown implies that the fund has experienced periods of substantial loss without adequate risk-adjusted compensation. These metrics collectively characterize the asset as having extreme risk characteristics in both rising and falling market conditions.

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

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

HODL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 4.31% and average daily volume is 1.2M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $952M 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