Survivorship

Data current

The vaults that died, counted — because a survival rate cannot be computed from the survivors.Note 19

Ever listed

9,469

Still alive: 1,446
Closed: 6,332
Abandoned: 1,691

Dead or abandoned

8,023

84.7% of everything listed

Shut deliberately: 79%

Rated

233

2.5% by count

Alive but under the floor: 1,213

Capital covered

99.7%

$419.97M of $421.34M

Coverage by count: 2.5%

What that means when you read anything else here

Measured across 233 rated vaults, which is 2.5% of the 9,469 the venue has ever listed. 84.7% are closed or abandoned and are not in any average here. They hold 0.3% of nothing, which is why coverage by capital is 99.7% while coverage by vault is not.

Both figures are true and quoting either alone is misleading. By count we cover a fortieth of the venue; by capital, almost all of it. The gap is the graveyard — thousands of vaults that were opened, never funded or quietly abandoned, and which no ranking anywhere will ever show you. Of the 33 we have watched stop, the median lasted 279.1 days.

Method and limits in the methodology. This page is free and will stay free: it is what makes everything else here worth reading.