VanEck Bitcoin ETF (HODL) Performance
HODL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −7.2% since Dec 31, 2025
- 1 year
- −26.4% total return
- Since first price
- +73.5% since 2024
HODL trailing returns vs SPY, QQQ, AGG
| Period | HODL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.0% | −4.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +25.3% | +25.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.4% | +4.4% | +7.8% | +8.4% | −1.5% |
| YTD | −7.2% | −7.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −26.4% | −26.4% | +14.4% | +15.9% | −1.1% |
| Since inceptionJan 11, 2024 | +73.5% | +73.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HODL vs SPY
From Jan 11, 2024: HODL grew to $17,354, SPY to $16,476.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HODL returns by calendar year
0 of 1 full years positive. Best 2025 (−6.4%), worst 2025 (−6.4%). 2026 is year to date.
HODL annual returns table
| Year | HODL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −7.2% | −39.9% | +12.3% | +15.1% | −1.0% |
| 2025 | −6.4% | −32.7% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HODL largest drawdowns
Now 35.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 6, 2025 | −53.2% | Jun 30, 2026 | not yet | 9 months | 1.0 years so far |
| Dec 17, 2024 | −28.1% | Apr 8, 2025 | May 20, 2025 | 4 months | 5 months |
| Mar 13, 2024 | −27.5% | Sep 6, 2024 | Nov 6, 2024 | 6 months | 8 months |
| Jan 11, 2024 | −16.1% | Jan 23, 2024 | Feb 9, 2024 | 12 days | 29 days |
| Aug 13, 2025 | −12.0% | Aug 29, 2025 | Oct 6, 2025 | 16 days | 54 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HODL risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +28.7% |
| Volatility (annualized) | 53.7% |
| Sharpe ratio | 0.64 |
| Sortino ratio | 1.19 |
| Best month | +45.8% |
| Worst month | −21.7% |
| Best 12 months | +138.4% |
| Worst 12 months | −46.2% |
| Positive months | 56% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HODL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 22 | −46.2% | −6.5% | +138.4% | 45% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
HODL performance overview
VanEck Bitcoin ETF (HODL) returned −26.4% over the past year, with distributions reinvested. Since its first recorded price on Jan 11, 2024 it has returned +73.5%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −53.2%, from Oct 6, 2025 to Jun 30, 2026; the fund has not yet regained that high. Volatility has been 53.7% a year.
Related: HODL chart. See the HODL overview for the latest quote and fund facts.
HODL performance FAQ
What is the HODL return over the past year?
HODL returned −26.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 26.4%.
How much would $10,000 invested in HODL be worth?
$10,000 invested in HODL at its first recorded close on January 11, 2024 would be worth about $17,354 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of HODL?
The largest peak-to-trough decline was −53.2% between October 6, 2025 and June 30, 2026. It has not yet recovered to that high; it is 35.3% below its peak.
How volatile is HODL?
Over the past history HODL had an annualized volatility of 53.7% and a Sharpe ratio of 0.64 (excess return over 1–3 month T-bills per unit of risk).