DAPP
VanEck Digital Transformation ETF
DAPP tracks a market-cap-weighted index of global innovative companies that are involved in the digitalization of the worlds economy through a diverse range of digital assets.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
189.5 M
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp. |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 09, 2021 |
| Assets (mns) | $189 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MICROSTRATEGY INC-CL A | 12.4 % |
| COINBASE GLOBAL, INC. CLASS A | 8.8 % |
| HUT 8 CORP | 6.5 % |
| BLOCK INC. | 6.5 % |
| CANAAN INC. SPONSORED ADR CLASS A | 5.5 % |
| CORE SCIENTIFIC, INC. | 5.2 % |
| MARATHON DIGITAL HOLDINGS INC | 5.2 % |
| APPLIED BLOCKCHAIN INC | 5.2 % |
| RIOT BLOCKCHAIN INC | 5.1 % |
| CIPHER MINING INC | 5.0 % |
Constituent Breakdown
| Number of holdings | 23 |
| Herfindahl-Hirschman Index | 587 |
| Wgt avg mkt cap (mns) | $10,349 |
| Large cap (>$10bn) | 15.2% |
| Mid cap ($2-10bn) | 29.2% |
| Small cap (<$2bn) | 55.6% |
| Developed mkts. | 93.7% |
| Emerging mkts. | 6.3% |
Country Exposure
 |
UNITED STATES | 70.0 % |
 |
CANADA | 11.6 % |
 |
CHINA | 8.4 % |
 |
GERMANY | 5.0 % |
 |
AUSTRALIA | 4.4 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 55.4% | 132.9% | 114.9% | -15.3% | -- | -- | -9.4% | Volatility | 72.1% | 74.0% | 73.6% | 76.5% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 3.31 | 42% |
| MSCI EAFE | 2.36 | 21% |
| MSCI Emg Mkts | 1.97 | 15% |
Liquidity Measures
| Avg. volume (000) | 374 |
| Turnover | 3.3% |
| Avg. Bid/Ask (% of price) | 0.56% |
| ADV of underlying (mns) | $23,009 |
Technical Indicators
| Recent close | $16.55 |
| 30d moving avg. | $18.30 |
| Annualized volatility | 89.6% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 1.6% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DAPP |
Expenses vs. DAPP |
ALTAR Score™ vs. DAPP |
|---|---|---|---|---|
| BKCH | Global X Blockchain ETF | 66.0% | 0 bp | -0.2% |
| BITQ | Bitwise Crypto Industry Innovators ETF | 65.2% | +35 bp | +1.0% |
| IBLC | iShares Blockchain and Tech ETF | 58.9% | -3 bp | +1.2% |
| GFOF | Grayscale Future of Finance ETF | 58.0% | +20 bp | +2.3% |
| CRPT | First Trust SkyBridge Crypto Industry & Digital Economy ETF | 49.7% | +35 bp | +3.0% |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 46.6% | -11 bp | +1.2% |
| WGMI | Valkyrie Bitcoin Miners ETF | 45.7% | +25 bp | -3.8% |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 45.1% | +11 bp | +0.9% |
| BLOK | Amplify Transformational Data Sharing ETF | 38.9% | +25 bp | +3.6% |
| BLCN | Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 29.7% | +18 bp | +5.4% |
Risk and Returns: DAPP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/20/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DAPP
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
DAPP
-3.0%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 374 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.8%. DAPP's ALTAR Score™ is approximately
1.5 standard deviations
below
the category average. This places DAPP in the 6th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DAPPSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| DAPP (50 bp) Percentile rank | 39 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DAPP | 50.0 | 56.2 | 106.2 |
| Peer Avg. | 57.0 | 39.6 | 96.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .