EZBC vs. FGDL

Last updated Jul 17, 2026

EZBC (Franklin Bitcoin ETF) and FGDL (Franklin Responsibly Sourced Gold ETF) are both exchange-traded funds - EZBC is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while FGDL is a Gold fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past year, EZBC returned -46.31% vs 18.68% for FGDL. At a 0.17 correlation, their price movements are largely independent. EZBC charges 0.19%/yr vs 0.15%/yr for FGDL.

Performance

EZBC vs. FGDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Bitcoin ETF (EZBC) and Franklin Responsibly Sourced Gold ETF (FGDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZBC achieves a -26.62% return, which is significantly lower than FGDL's -8.11% return.

EZBC

• 1D: -1.01%
• 1M: -2.11%
• 6M: -32.60%
• YTD: -26.62%
• 1Y: -46.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FGDL

• 1D: -1.85%
• 1M: -8.31%
• 6M: -13.95%
• YTD: -8.11%
• 1Y: 18.68%
• 3Y*: 26.52%
• 5Y*: —
• 10Y*: —

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

EZBC vs. FGDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZBC Franklin Bitcoin ETF	-26.62%	-6.56%	87.83%
FGDL Franklin Responsibly Sourced Gold ETF	-8.11%	64.15%	29.87%

Correlation

The correlation between EZBC and FGDL is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.17

The correlation between EZBC and FGDL shifts across timeframes, from 0.17 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EZBC vs. FGDL — Risk / Return Rank

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

EZBC

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

FGDL

FGDL Risk / Return Rank: 21
FGDL Sharpe Ratio Rank: 23
FGDL Sortino Ratio Rank: 21
FGDL Omega Ratio Rank: 24
FGDL Calmar Ratio Rank: 20
FGDL Martin Ratio Rank: 19

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.

EZBC vs. FGDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Bitcoin ETF (EZBC) and Franklin Responsibly Sourced Gold ETF (FGDL). 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.

	EZBC	FGDL	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	0.67	-1.72
Sortino ratio: Return per unit of downside risk	-1.59	1.00	-2.59
Omega ratio: Gain probability vs. loss probability	0.82	1.14	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.87	0.71	-1.58
Martin ratio: Return relative to average drawdown	-1.40	1.67	-3.07

EZBC vs. FGDL - Sharpe Ratio Comparison

The current EZBC Sharpe Ratio is -1.05, which is lower than the FGDL Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of EZBC and FGDL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EZBC vs. FGDL - Drawdown Comparison

The maximum EZBC drawdown since its inception was -53.35%, which is greater than FGDL's maximum drawdown of -26.58%. Use the drawdown chart below to compare losses from any high point for EZBC and FGDL.

Drawdown Indicators

	EZBC	FGDL	Difference
Max Drawdown Largest peak-to-trough decline	-53.35%	-26.58%	-26.77%
Max Drawdown (1Y) Largest decline over 1 year	-53.35%	-26.58%	-26.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.58%	—
Current Drawdown Current decline from peak	-48.92%	-26.58%	-22.34%
Average Drawdown Average peak-to-trough decline	-17.75%	-4.41%	-13.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.13%	11.19%	+21.94%

Volatility

EZBC vs. FGDL - Volatility Comparison

Franklin Bitcoin ETF (EZBC) has a higher volatility of 10.76% compared to Franklin Responsibly Sourced Gold ETF (FGDL) at 6.58%. This indicates that EZBC's price experiences larger fluctuations and is considered to be riskier than FGDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZBC	FGDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.76%	6.58%	+4.18%
Volatility (6M) Calculated over the trailing 6-month period	34.80%	24.40%	+10.40%
Volatility (1Y) Calculated over the trailing 1-year period	44.30%	28.20%	+16.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.84%	19.41%	+30.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.84%	19.41%	+30.43%

EZBC vs. FGDL - Expense Ratio Comparison

EZBC has a 0.19% expense ratio, which is higher than FGDL's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EZBC vs. FGDL - Dividend Comparison

Neither EZBC nor FGDL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EZBC and FGDL in my portfolio?

EZBC and FGDL have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZBC or FGDL?

EZBC has higher volatility (10.76%) compared to FGDL (6.58%). In terms of maximum drawdown, EZBC dropped -53.35% vs FGDL's -26.58%.

Which ETF is better, EZBC or FGDL?

On 1-year performance, FGDL leads with 18.68% vs -46.31% for EZBC. On fees, FGDL is cheaper at 0.15% per year. On volatility, FGDL has been the lower-risk option at 6.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZBC or FGDL?

Over the 1-year period, FGDL has performed better with a 18.68% return vs -46.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZBC or FGDL?

FGDL is cheaper with a 0.15% expense ratio, compared with 0.19% for EZBC.

Which ETF pays a higher dividend yield, EZBC or FGDL?

EZBC and FGDL have nearly identical dividend yields, around 0.00%.

What is the main difference between EZBC and FGDL?

EZBC is categorized as Cryptocurrency, while FGDL is Gold. EZBC tracks CME CF Bitcoin Reference Rate - New York Variant, while FGDL tracks LBMA Gold Price PM ($/ozt). Their fees differ too: 0.19% for EZBC and 0.15% for FGDL.

Which has better risk-adjusted returns?

FGDL currently has the higher Sharpe Ratio (0.67 vs -1.05), 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.