Key Takeaways
- • NODE ETF annualized returns declined sharply to 35.0% in April (30-day trailing), down from 47.4% in March, reflecting volatility in the digital assets equity sector.
- • VanEck Onchain Economy ETF maintains a 0.67% total expense ratio and tracks companies in digital asset exchanges, mining, and related financial services via the MVIS Global Digital Assets Equity Index.
- • Top holdings include VanEck Onchain Subsidiary (12.4%), TeraWulf Inc./WULF (5.8%), Cipher Digital Inc./CIFR (5.1%), and IREN Ltd./IREN (4.9%) as of April 25, 2026.
- • U.S. ETF industry recorded $171.4 billion in inflows during April, with year-to-date inflows reaching $643.9 billion through four months, signaling continued institutional capital deployment.
- • NODE returned 24.4% in April according to AAII data, earning a C grade within the Equity Digital Assets category despite broad market recovery conditions.
Summary
As of late April, NODE's portfolio concentrated exposure in four primary holdings: a VanEck Onchain Subsidiary representing 12.4% of assets, TeraWulf Inc. (WULF) at 5.8%, Cipher Digital Inc. (CIFR) at 5.1%, and IREN Ltd. (IREN) at 4.9%. The fund carries a competitive total expense ratio of 0.67%, with VanEck Absolute Return Advisers Corporation bearing all operating expenses except for acquired fund fees, interest costs, and extraordinary items.
April's performance reflected mixed dynamics in the broader ETF ecosystem. While U.S. ETFs collectively attracted $171.4 billion in monthly inflows, NODE's individual return of 24.4% (per AAII metrics) garnered a C-grade rating relative to its Equity Digital Assets category peers. This suggests competitive underperformance within its specialized sector despite benefiting from the broader market recovery documented across U.S. equities in April 2026.
The year-to-date trajectory through four months shows the ETF industry capturing $643.9 billion in cumulative inflows, indicating sustained institutional and retail interest in exchange-traded fund structures. NODE's positioning within this context reflects the continued viability of concentrated digital assets equity exposure, though the month-to-month volatility—from 47.4% annualized in March to 35.0% in April—underscores the elevated risk profile characteristic of blockchain and cryptocurrency-adjacent equities relative to broad market benchmarks.
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