ETCG vs. ETCO
ETCG (Grayscale Ethereum Classic Trust (ETC)) and ETCO (Grayscale Ethereum Covered Call ETF) are both Cryptocurrency funds from Grayscale. ETCG is passively managed, while ETCO is actively managed. A 0.66 correlation means they provide meaningful diversification when combined. ETCG charges 2.50%/yr vs 0.66%/yr for ETCO.
Performance
ETCG vs. ETCO - Performance Comparison
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Returns By Period
In the year-to-date period, ETCG achieves a -37.40% return, which is significantly lower than ETCO's -34.48% return.
ETCG
- 1D
- -3.10%
- 1M
- -11.55%
- YTD
- -37.40%
- 6M
- -45.61%
- 1Y
- -53.60%
- 3Y*
- -8.79%
- 5Y*
- -36.21%
- 10Y*
- —
ETCO
- 1D
- -1.66%
- 1M
- -22.34%
- YTD
- -34.48%
- 6M
- -36.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETCG vs. ETCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCG Grayscale Ethereum Classic Trust (ETC) | -37.40% | -41.04% |
ETCO Grayscale Ethereum Covered Call ETF | -34.48% | -24.78% |
Correlation
The correlation between ETCG and ETCO is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 5, 2025 | 0.66 |
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Return for Risk
ETCG vs. ETCO — Risk / Return Rank
ETCG
ETCO
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 ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.85 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | — | — |
| Martin ratioReturn relative to average drawdown | -1.23 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETCG | ETCO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.87 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.18 | -1.17 | +0.99 |
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.
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Drawdown Indicators
| ETCG | ETCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.59% | -56.81% | -39.78% |
Max Drawdown (1Y)Largest decline over 1 year | -67.13% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -78.55% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -92.70% | — | — |
Current DrawdownCurrent decline from peak | -95.47% | -55.08% | -40.39% |
Average DrawdownAverage peak-to-trough decline | -82.67% | -34.54% | -48.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.62% | — | — |
Volatility
ETCG vs. ETCO - Volatility Comparison
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Volatility by Period
| ETCG | ETCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.24% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 36.67% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 62.10% | 52.38% | +9.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.02% | 52.38% | +41.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 115.30% | 52.38% | +62.92% |
ETCG vs. ETCO - Expense Ratio Comparison
ETCG has a 2.50% expense ratio, which is higher than ETCO's 0.66% expense ratio.
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 129.56%.
| Position | TTM | 2025 |
|---|---|---|
ETCG Grayscale Ethereum Classic Trust (ETC) | 0.00% | 0.00% |
ETCO Grayscale Ethereum Covered Call ETF | 129.56% | 42.29% |
Frequently Asked Questions
ETCG and ETCO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETCO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETCO is cheaper with a 0.66% expense ratio, compared with 2.50% for ETCG.
ETCO has the higher dividend yield at 129.56%, compared with 0.00% for ETCG.
Their fees differ too: 2.50% for ETCG and 0.66% for ETCO.
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