About the report
In this post, we examine the performance of DeFi vaults. Vaults can be considered "self-custodial investment strategies" in traditional finance: vaults are smart contracts that enable users to deposit funds from their cryptocurrency wallets and trade a predefined strategy with investors' money.
Report content updates
Since the previous report is from January 2026, we have updated the report as follows:
- Added support for Accountable RWA vaults
- Added support for Ember, Ethereum and Sui cross-chain vaults
- Added support for Hyperliquid native vaults (Hypercore vaults) and GRVT native vaults
These benchmarks include:
- Supported denomination stablecoins include USDC (Circle), EURC (Circle), USDT (Tether), USDS (Sky), Metamask USD (mUSD) and other popular stablecoins.
- The report covers 11,214 stablecoin-denominated vaults out of 29,858 total vaults seen
- The report data is dated 2026-02-25
- Total 21 EVM blockchains, 2 non-EVM blockchains
DeFi vault community news, February 2026
Highlights of what happened in the DeFi vault industry in the last month.
Master vault strategy announced
Master Vault is a new vault that automates portfolio allocation for DeFi users. Instead of users hunting for the best vaults themselves, Trading Strategy's Master vault automatically allocates to the best vaults. Read the announcement here.
GRVT and Hyperliquid native vaults are available for benchmarks
You can now benchmark perpetual futures DEX native trading vaults against EVM DeFi vaults. The flagship vaults of both perp DEXes are their in-house market-making vaults. HLP for Hyperliquid and GLP for GRVT.
Average vault yield per blockchain
The breakdown of vaults by their blockchain is available. Currently, Hyperliquid native vaults dominate with 50% annual returns based on their one-month TVL-weighted returns, mostly driven by highly profitable liquidations by HLP.
Fidelity Investments enters DeFi
Fidelity Investments is a major Boston-based financial services firm and one of the world's largest asset managers, handling trillions in assets. It offers brokerage, retirement, wealth management, mutual funds, ETFs, and crypto services via its Fidelity Digital Assets division, focusing on innovation, low-cost investing, and institutional-grade solutions.
Fidelity's hiring of a Vice President, DeFi Product Manager is significant as it shows a traditional finance giant advancing into decentralised finance. The role focuses on designing and scaling institutional-grade DeFi products, including on-chain vaults, structured strategies (yield, carry, delta-neutral), protocol assessments, smart-contract architecture, tokenomics, oracle risk management, and portfolio curation — bridging TradFi and DeFi to drive mainstream adoption.
The best-performing vaults
Here you can find the vaults with the best absolute monthly returns. Ostium Liquidity Pool has retaken its place as the best-performing vault.
- Filtered for $200k USD minimum TVL
- We also chart the rolling returns of best performing low-volatility vaults
- Here, we list the best vaults by their last month's performance, and charts for three-month rolling returns
- View the live benchmark to examine the data in real time
| # | Vault | 1M Return Ann. | 3M Return Ann. | 3M Sharpe | TVL USD | Chain | Denomination |
|---|---|---|---|---|---|---|---|
| 1 | $REKTOBER | 10000.0% (n) | 10000.0% (n) | 8.40 | 367,951 | Hypercore | USDC |
| 2 | Overdose | 10000.0% (n) | 4630.7% (n) | 5.20 | 547,516 | Hypercore | USDC |
| 3 | Long HYPE & BTC | Short Garbage | 10000.0% (n) | 415.4% (n) | 3.20 | 1,507,950 | Hypercore | USDC |
| 4 | Not In Employment Education or Training | 10000.0% (n) | 10000.0% (n) | 5.60 | 3,453,858 | Hypercore | USDC |
| 5 | Bitcoin Moving Average Long/Short | 3241.0% (n) | 132.8% (n) | 2.30 | 3,680,534 | Hypercore | USDC |
| 6 | Citadel | 3186.0% (n) | 100.4% (n) | 2.50 | 543,026 | Hypercore | USDC |
| 7 | Scott Phillips Trading Vault | 1444.5% (n) | 190.5% (n) | 3.00 | 1,358,196 | Hypercore | USDC |
| 8 | Elsewhere | 1270.6% (n) | 513.7% (n) | 6.30 | 533,711 | Hypercore | USDC |
| 9 | +convexity | 918.5% (n) | 30.7% (n) | 1.40 | 501,397 | Hypercore | USDC |
| 10 | Equinox · Blackalgo | 604.1% (n) | 337.7% (n) | 2.60 | 1,247,968 | Hypercore | USDC |
| 11 | Tulipa Capital USDT0 | 327.9% (g) | 97.6% (g) | 2.90 | 768,915 | Plasma | USDT0 |
| 12 | Hyperrr | 313.1% (n) | 3325.5% (n) | 5.00 | 1,645,335 | Hypercore | USDC |
| 13 | [ Systemic Strategies ] ♾️ HyperGrowth ♾️ | 309.5% (n) | 38.4% (n) | 1.50 | 5,977,809 | Hypercore | USDC |
| 14 | ALAR SailOut Royalty | 204.8% (g) | 204.8% (g) | 3.80 | 1,113,967 | Berachain | USDe |
| 15 | Hyperliquidity Provider (HLP) | 100.5% (n) | 32.9% (n) | 5.10 | 388,588,947 | Hypercore | USDC |
| 16 | OnlyShorts | 80.0% (n) | 134.3% (n) | 5.40 | 732,929 | Hypercore | USDC |
| 17 | Steakhouse High Yield Turbo | 29.3% (n) | 22.3% (n) | 10.60 | 358,345 | Arbitrum | USDC |
| 18 | Ostium Liquidity Pool Vault | 20.0% (n) | 45.2% (n) | 2.40 | 45,749,875 | Arbitrum | USDC |
| 19 | Altura Vault Tokens | 22.8% (g) | 23.2% (g) | 29.00 | 4,577,202 | Hyperliquid | USD₮0 |
| 20 | Yuzu Protection Pool | 47.7% (n) | 39.7% (n) | 35.40 | 3,655,144 | Plasma | USDT0 |
Correlation of returns
Daily returns correlation for the highest performing vaults. Selected vaults for correlation comparison:
| # | Vault | 3M Return Ann. | 3M Sharpe | Age (years) | Chain | TVL USD |
|---|---|---|---|---|---|---|
| 1 | Not In Employment Education or Training | 10000.0% (n) | 5.60 | 0.27 | Hypercore | 3,453,858 |
| 2 | Ethereum Moving Average Long/Short | 6583.9% (n) | 4.90 | 0.10 | GRVT | 514,382 |
| 3 | ALAR SailOut Royalty | 204.8% (g) | 3.80 | 0.07 | Berachain | 1,113,967 |
| 4 | Tulipa Capital USDT0 | 97.6% (g) | 2.90 | 0.42 | Plasma | 768,915 |
| 5 | Base-USDC Yield-DynaVault v3 | 67.0% (g) | 4.00 | 0.10 | Base | 418,650 |
| 6 | Ostium Liquidity Pool Vault | 45.2% (n) | 2.40 | 1.65 | Arbitrum | 45,749,875 |
| 7 | Yuzu Protection Pool | 39.7% (n) | 35.40 | 0.37 | Plasma | 3,655,144 |
| 8 | Pocky's High Yield USDS | 33.9% (n) | 22.30 | 0.35 | Ethereum | 563,983 |
| 9 | Peapods Interest Bearing USDC - 73 | 29.3% (g) | 46.10 | 0.78 | Base | 290,930 |
| 10 | Spark USDS Compounder | 31.4% (n) | 3.50 | 0.61 | Ethereum | 10,890,055 |
The best-performing vaults on each chain
- View the live benchmark
- Minimum $100k USD TVL
- The top five performing vaults for each included blockchain
| Chain | Protocol | Vault | 1M Return Ann. | 3M Return Ann. | TVL USD | Denomination |
|---|---|---|---|---|---|---|
| Arbitrum | Morpho | Steakhouse High Yield Turbo | 29.3% (n) | 22.3% (n) | 358,345 | USDC |
| Arbitrum | Llama Lend | Llama Lend asdCRV / crvUSD | 26.9% (n) | 15.4% (n) | 692,895 | crvUSD |
| Arbitrum | Ostium | Ostium Liquidity Pool Vault | 20.0% (n) | 45.2% (n) | 45,749,875 | USDC |
| Base | Kiln Metavault | Trust Wallet Morpho Steakhouse USDC | 22.4% (g) | 9.3% (g) | 253,987 | USDC |
| Berachain | — | ALAR SailOut Royalty | 204.8% (g) | 204.8% (g) | 1,113,967 | USDe |
| Ethereum | Morpho | Pocky's High Yield USDS | 20.4% (n) | 33.9% (n) | 563,983 | USDS |
| GRVT | GRVT | Ethereum Moving Average Long/Short | 10000.0% (n) | 6583.9% (n) | 514,382 | USDT |
| Hypercore | Hyperliquid | $REKTOBER | 10000.0% (n) | 10000.0% (n) | 367,951 | USDC |
| Plasma | Term Finance | Tulipa Capital USDT0 | 327.9% (g) | 97.6% (g) | 768,915 | USDT0 |
| Plasma | Yuzu Money | Yuzu Protection Pool | 47.7% (n) | 39.7% (n) | 3,655,144 | USDT0 |
The best-performing large vaults
Here are the vaults of interest to traders with a larger size.
- View the live benchmark
- Vaults with a minimum of $2M USD in TVL
| # | Vault | 1M Return Ann. | 3M Return Ann. | 3M Sharpe | TVL USD | Chain |
|---|---|---|---|---|---|---|
| 1 | Not In Employment Education or Training | 10000.0% (n) | 10000.0% (n) | 5.60 | 3,453,858 | Hypercore |
| 2 | Bitcoin Moving Average Long/Short | 3241.0% (n) | 132.8% (n) | 2.30 | 3,680,534 | Hypercore |
| 3 | [ Systemic Strategies ] ♾️ HyperGrowth ♾️ | 309.5% (n) | 38.4% (n) | 1.50 | 5,977,809 | Hypercore |
| 4 | Hyperliquidity Provider (HLP) | 100.5% (n) | 32.9% (n) | 5.10 | 388,588,947 | Hypercore |
| 5 | [ Systemic Strategies ] L/S Grids | 63.0% (n) | 9.3% (n) | 0.70 | 3,100,478 | Hypercore |
| 6 | Yuzu Protection Pool | 47.7% (n) | 39.7% (n) | 35.40 | 3,655,144 | Plasma |
| 7 | Altura Vault Tokens | 22.8% (g) | 23.2% (g) | 29.00 | 4,577,202 | Hyperliquid |
| 8 | Ostium Liquidity Pool Vault | 20.0% (n) | 45.2% (n) | 2.40 | 45,749,875 | Arbitrum |
| 9 | Angmar Capital | 15.3% (n) | 15.0% (n) | 1.10 | 2,289,619 | Arbitrum |
| 10 | AQRU Maple Pool USDC1 | 17.0% (g) | 17.0% (g) | 37.40 | 7,449,446 | Ethereum |
Partners
We want to thank our partners @arbitrumdao_gov, @envio_indexer, @dRPCorg, @ipor_io, @goldskyio, @icecream_swap, @grvt_io, @OrderlyNetwork and @lagoon_finance, Webacy and Quants Spaces for getting this report together.
Next steps
Visit our vaults page for real-time dashboards. If you have any questions, contact us on Discord, email or Twitter.