ETCG vs. GDOG

Last updated Aug 5, 2026

ETCG (Grayscale Ethereum Classic Trust (ETC)) and GDOG (Grayscale Dogecoin Trust ETF) are both Cryptocurrency funds from Grayscale - ETCG tracks the Ethereum Classic (ETC) while GDOG tracks the CoinDesk Dogecoin Blended Reference Rate Index. Both are passively managed. Their 0.74 correlation means they have sometimes moved together and sometimes differently. ETCG charges 2.50%/yr vs 0.35%/yr for GDOG.

Performance

ETCG vs. GDOG - Performance Comparison

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

Returns By Period

In the year-to-date period, ETCG achieves a -47.46% return, which is significantly lower than GDOG's -40.02% return.

ETCG

• 1D: 1.43%
• 1M: -13.06%
• 6M: -34.35%
• YTD: -47.46%
• 1Y: -66.78%
• 3Y*: -20.02%
• 5Y*: -37.77%
• 10Y*: —
• ALL TIME*: -22.05%

GDOG

• 1D: 0.12%
• 1M: -5.22%
• 6M: -35.57%
• YTD: -40.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ETCG Grayscale Ethereum Classic Trust (ETC)	$62.63K	$57.03K	$104.25K
GDOG Grayscale Dogecoin Trust ETF	$168.96K	$184.99K	$321.56K

ETCG vs. GDOG - Yearly Performance Comparison

	2026 (YTD)	2025
ETCG Grayscale Ethereum Classic Trust (ETC)	-47.46%	-13.45%
GDOG Grayscale Dogecoin Trust ETF	-40.02%	-19.74%

Correlation

The correlation between ETCG and GDOG is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 24, 2025	0.74

Return for Risk

ETCG vs. GDOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ETCG

ETCG Risk / Return Rank: 1
ETCG Sharpe Ratio Rank: 1
ETCG Sortino Ratio Rank: 0
ETCG Omega Ratio Rank: 0
ETCG Calmar Ratio Rank: 1
ETCG Martin Ratio Rank: 2

GDOG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ETCG vs. GDOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Classic Trust (ETC) (ETCG) and Grayscale Dogecoin Trust ETF (GDOG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ETCG	GDOG	Difference
Sharpe ratio: Return per unit of total volatility	-1.17	—	—
Sortino ratio: Return per unit of downside risk	-2.32	—	—
Omega ratio: Gain probability vs. loss probability	0.76	—	—
Calmar ratio: Return relative to maximum drawdown	-0.92	—	—
Martin ratio: Return relative to average drawdown	-1.30	—	—

Drawdowns

ETCG vs. GDOG - Drawdown Comparison

The maximum ETCG drawdown since its inception was -96.59%, which is greater than GDOG's maximum drawdown of -55.65%. Use the drawdown chart below to compare losses from any high point for ETCG and GDOG.

Drawdown Indicators

	ETCG	GDOG	Difference
Max Drawdown Largest peak-to-trough decline	-96.59%	-55.65%	-40.94%
Max Drawdown (1Y) Largest decline over 1 year	-72.70%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-82.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-92.70%	—	—
Current Drawdown Current decline from peak	-96.20%	-54.83%	-41.37%
Average Drawdown Average peak-to-trough decline	-82.89%	-33.77%	-49.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.47%	—	—

Volatility

Volatility by Period

	ETCG	GDOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	57.25%	68.54%	-11.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.69%	68.54%	+22.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.27%	68.54%	+45.73%

ETCG vs. GDOG - Expense Ratio Comparison

ETCG has a 2.50% expense ratio, which is higher than GDOG's 0.35% expense ratio.

Dividends

ETCG vs. GDOG - Dividend Comparison

Neither ETCG nor GDOG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETCG and GDOG in my portfolio?

ETCG and GDOG have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETCG or GDOG?

On fees, GDOG is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETCG or GDOG?

GDOG is cheaper with a 0.35% expense ratio, compared with 2.50% for ETCG.

Which ETF pays a higher dividend yield, ETCG or GDOG?

ETCG and GDOG have nearly identical dividend yields, around 0.00%.

What is the main difference between ETCG and GDOG?

ETCG tracks Ethereum Classic (ETC), while GDOG tracks CoinDesk Dogecoin Blended Reference Rate Index. Their fees differ too: 2.50% for ETCG and 0.35% for GDOG.