ETHV vs. GLNK

Last updated Jun 5, 2026

ETHV (VanEck Ethereum ETF) and GLNK (Grayscale Chainlink Trust ETF) are both Cryptocurrency funds - ETHV tracks the MarketVector Ethereum Benchmark Rate while GLNK tracks the Chainlink (LINK). Both are passively managed. Over the past year, ETHV returned -32.55% vs -60.98% for GLNK. A 0.54 correlation means they provide meaningful diversification when combined. ETHV charges 0.20%/yr vs 2.50%/yr for GLNK.

Performance

ETHV vs. GLNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Ethereum ETF (ETHV) and Grayscale Chainlink Trust ETF (GLNK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHV achieves a -40.24% return, which is significantly lower than GLNK's -34.28% return.

ETHV

• 1D: -1.33%
• 1M: -25.17%
• YTD: -40.24%
• 6M: -43.60%
• 1Y: -32.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLNK

• 1D: -1.51%
• 1M: -17.03%
• YTD: -34.28%
• 6M: -43.95%
• 1Y: -60.98%
• 3Y*: -14.49%
• 5Y*: —
• 10Y*: —

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

ETHV vs. GLNK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHV VanEck Ethereum ETF	-40.24%	-11.02%	-3.67%
GLNK Grayscale Chainlink Trust ETF	-34.28%	-87.10%	-6.14%

Correlation

The correlation between ETHV and GLNK is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	0.54

The correlation between ETHV and GLNK shifts across timeframes, from 0.54 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ETHV vs. GLNK — Risk / Return Rank

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

ETHV

ETHV Risk / Return Rank: 5
ETHV Sharpe Ratio Rank: 5
ETHV Sortino Ratio Rank: 6
ETHV Omega Ratio Rank: 6
ETHV Calmar Ratio Rank: 5
ETHV Martin Ratio Rank: 5

GLNK

GLNK Risk / Return Rank: 5
GLNK Sharpe Ratio Rank: 4
GLNK Sortino Ratio Rank: 5
GLNK Omega Ratio Rank: 5
GLNK Calmar Ratio Rank: 3
GLNK Martin Ratio Rank: 5

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.

ETHV vs. GLNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Ethereum ETF (ETHV) and Grayscale Chainlink Trust ETF (GLNK). 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.

	ETHV	GLNK	Difference
Sharpe ratio: Return per unit of total volatility	-0.48	-0.56	+0.08
Sortino ratio: Return per unit of downside risk	-0.34	-0.48	+0.13
Omega ratio: Gain probability vs. loss probability	0.96	0.95	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.52	-0.69	+0.18
Martin ratio: Return relative to average drawdown	-0.86	-0.91	+0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETHV vs. GLNK - Sharpe Ratio Comparison

The current ETHV Sharpe Ratio is -0.48, which is comparable to the GLNK Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of ETHV and GLNK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETHV	GLNK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.48	-0.56	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	-0.01	-0.40

Drawdowns

ETHV vs. GLNK - Drawdown Comparison

The maximum ETHV drawdown since its inception was -64.02%, smaller than the maximum GLNK drawdown of -95.82%. Use the drawdown chart below to compare losses from any high point for ETHV and GLNK.

Drawdown Indicators

	ETHV	GLNK	Difference
Max Drawdown Largest peak-to-trough decline	-64.02%	-95.82%	+31.80%
Max Drawdown (1Y) Largest decline over 1 year	-63.36%	-88.29%	+24.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-95.82%	—
Current Drawdown Current decline from peak	-63.36%	-95.78%	+32.42%
Average Drawdown Average peak-to-trough decline	-32.71%	-55.74%	+23.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.95%	66.91%	-28.96%

Volatility

ETHV vs. GLNK - Volatility Comparison

The current volatility for VanEck Ethereum ETF (ETHV) is 9.71%, while Grayscale Chainlink Trust ETF (GLNK) has a volatility of 14.84%. This indicates that ETHV experiences smaller price fluctuations and is considered to be less risky than GLNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHV	GLNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.71%	14.84%	-5.13%
Volatility (6M) Calculated over the trailing 6-month period	45.31%	46.80%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	68.34%	109.05%	-40.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.23%	164.79%	-92.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.23%	164.79%	-92.56%

ETHV vs. GLNK - Expense Ratio Comparison

ETHV has a 0.20% expense ratio, which is lower than GLNK's 2.50% expense ratio.

Dividends

ETHV vs. GLNK - Dividend Comparison

Neither ETHV nor GLNK has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHV and GLNK in my portfolio?

ETHV and GLNK have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHV or GLNK?

GLNK has higher volatility (14.84%) compared to ETHV (9.71%). In terms of maximum drawdown, ETHV dropped -64.02% vs GLNK's -95.82%.

Which ETF is better, ETHV or GLNK?

On 1-year performance, ETHV leads with -32.55% vs -60.98% for GLNK. On fees, ETHV is cheaper at 0.20% per year. On volatility, ETHV has been the lower-risk option at 9.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHV or GLNK?

Over the 1-year period, ETHV has performed better with a -32.55% return vs -60.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHV or GLNK?

ETHV is cheaper with a 0.20% expense ratio, compared with 2.50% for GLNK.

Which ETF pays a higher dividend yield, ETHV or GLNK?

ETHV and GLNK have nearly identical dividend yields, around 0.00%.

What is the main difference between ETHV and GLNK?

ETHV tracks MarketVector Ethereum Benchmark Rate, while GLNK tracks Chainlink (LINK). They also come from different issuers: VanEck and Grayscale. Their fees differ too: 0.20% for ETHV and 2.50% for GLNK.

Which has better risk-adjusted returns?

ETHV currently has the higher Sharpe Ratio (-0.48 vs -0.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.