ETCG vs. ETCO

Last updated Apr 2, 2026

Compare and contrast key facts about Grayscale Ethereum Classic Trust (ETC) (ETCG) and Grayscale Ethereum Covered Call ETF (ETCO).

ETCG and ETCO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ETCG is a passively managed fund by Grayscale that tracks the performance of the Ethereum Classic (ETC). It was launched on Apr 24, 2017. ETCO is an actively managed fund by Grayscale. It was launched on Sep 3, 2025.

Performance

ETCG vs. ETCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Ethereum Classic Trust (ETC) (ETCG) and Grayscale Ethereum Covered Call ETF (ETCO). The values are adjusted to include any dividend payments, if applicable.

ETCG vs. ETCO - Yearly Performance Comparison

	2026 (YTD)	2025
ETCG Grayscale Ethereum Classic Trust (ETC)	-32.01%	-41.04%
ETCO Grayscale Ethereum Covered Call ETF	-25.50%	-24.78%

Returns By Period

In the year-to-date period, ETCG achieves a -32.01% return, which is significantly lower than ETCO's -25.50% return.

ETCG

• 1D: 0.23%
• 1M: -6.41%
• YTD: -32.01%
• 6M: -52.38%
• 1Y: -41.04%
• 3Y*: -13.86%
• 5Y*: -19.05%
• 10Y*: —

ETCO

• 1D: 0.47%
• 1M: 4.37%
• YTD: -25.50%
• 6M: -42.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETCG vs. ETCO - Expense Ratio Comparison

ETCG has a 2.50% expense ratio, which is higher than ETCO's 0.66% expense ratio.

ETCG

Grayscale Ethereum Classic Trust (ETC)

ETCO

Grayscale Ethereum Covered Call ETF

Return for Risk

ETCG vs. ETCO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETCG

ETCG Risk / Return Rank: 3
ETCG Sharpe Ratio Rank: 3
ETCG Sortino Ratio Rank: 3
ETCG Omega Ratio Rank: 4
ETCG Calmar Ratio Rank: 2
ETCG Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETCG vs. ETCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Classic Trust (ETC) (ETCG) and Grayscale Ethereum Covered Call ETF (ETCO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ETCG	ETCO	Difference
Sharpe ratio Return per unit of total volatility	-0.61	—	—
Sortino ratio Return per unit of downside risk	-0.71	—	—
Omega ratio Gain probability vs. loss probability	0.92	—	—
Calmar ratio Return relative to maximum drawdown	-0.65	—	—
Martin ratio Return relative to average drawdown	-1.22	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ETCG	ETCO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.61	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	-1.12	+0.94

Correlation

The correlation between ETCG and ETCO is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ETCG vs. ETCO - Dividend Comparison

ETCG has not paid dividends to shareholders, while ETCO's dividend yield for the trailing twelve months is around 93.40%.

	TTM	2025
ETCG Grayscale Ethereum Classic Trust (ETC)	0.00%	0.00%
ETCO Grayscale Ethereum Covered Call ETF	93.40%	42.29%

Drawdowns

ETCG vs. ETCO - Drawdown Comparison

The maximum ETCG drawdown since its inception was -96.59%, which is greater than ETCO's maximum drawdown of -56.81%. Use the drawdown chart below to compare losses from any high point for ETCG and ETCO.

Drawdown Indicators

	ETCG	ETCO	Difference
Max Drawdown Largest peak-to-trough decline	-96.59%	-56.81%	-39.78%
Max Drawdown (1Y) Largest decline over 1 year	-65.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-96.59%	—	—
Current Drawdown Current decline from peak	-95.08%	-48.91%	-46.17%
Average Drawdown Average peak-to-trough decline	-82.40%	-31.07%	-51.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.71%	—	—

Volatility

Volatility by Period

	ETCG	ETCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	44.51%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	67.49%	56.99%	+10.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.32%	56.99%	+48.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	116.42%	56.99%	+59.43%