GAVA vs. IBLC

Last updated Jul 12, 2026

GAVA (Grayscale Avalanche Staking ETF) and IBLC (iShares Blockchain and Tech ETF) are both Cryptocurrency funds. GAVA is actively managed, while IBLC is passively managed. A 0.56 correlation means they provide meaningful diversification when combined. GAVA charges 0.35%/yr vs 0.47%/yr for IBLC.

Performance

GAVA vs. IBLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Avalanche Staking ETF (GAVA) and iShares Blockchain and Tech ETF (IBLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GAVA

• 1D: 0.38%
• 1M: 3.09%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBLC

• 1D: -0.70%
• 1M: -10.74%
• 6M: 1.24%
• YTD: 12.78%
• 1Y: 17.57%
• 3Y*: 30.60%
• 5Y*: —
• 10Y*: —

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

GAVA vs. IBLC - Yearly Performance Comparison

	2026 (YTD)
GAVA Grayscale Avalanche Staking ETF	-29.06%
IBLC iShares Blockchain and Tech ETF	12.81%

Correlation

The correlation between GAVA and IBLC is 0.56, 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 Mar 12, 2026	0.56

Return for Risk

GAVA vs. IBLC — Risk / Return Rank

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

GAVA

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

IBLC

IBLC Risk / Return Rank: 16
IBLC Sharpe Ratio Rank: 15
IBLC Sortino Ratio Rank: 18
IBLC Omega Ratio Rank: 17
IBLC Calmar Ratio Rank: 15
IBLC Martin Ratio Rank: 13

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.

GAVA vs. IBLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Avalanche Staking ETF (GAVA) and iShares Blockchain and Tech ETF (IBLC). 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.

	GAVA	IBLC	Difference
Sharpe ratio: Return per unit of total volatility	—	0.29	—
Sortino ratio: Return per unit of downside risk	—	0.79	—
Omega ratio: Gain probability vs. loss probability	—	1.09	—
Calmar ratio: Return relative to maximum drawdown	—	0.36	—
Martin ratio: Return relative to average drawdown	—	0.69	—

Drawdowns

GAVA vs. IBLC - Drawdown Comparison

The maximum GAVA drawdown since its inception was -40.42%, smaller than the maximum IBLC drawdown of -62.54%. Use the drawdown chart below to compare losses from any high point for GAVA and IBLC.

Drawdown Indicators

	GAVA	IBLC	Difference
Max Drawdown Largest peak-to-trough decline	-40.42%	-62.54%	+22.12%
Max Drawdown (1Y) Largest decline over 1 year	—	-44.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-51.68%	—
Current Drawdown Current decline from peak	-33.83%	-25.85%	-7.98%
Average Drawdown Average peak-to-trough decline	-16.75%	-25.74%	+8.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.47%	—

Volatility

Volatility by Period

	GAVA	IBLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	41.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	54.12%	55.41%	-1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.12%	64.34%	-10.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.12%	64.34%	-10.22%

GAVA vs. IBLC - Expense Ratio Comparison

GAVA has a 0.35% expense ratio, which is lower than IBLC's 0.47% expense ratio.

Dividends

GAVA vs. IBLC - Dividend Comparison

GAVA has not paid dividends to shareholders, while IBLC's dividend yield for the trailing twelve months is around 5.55%.

Position	TTM	2025	2024	2023	2022
GAVA Grayscale Avalanche Staking ETF	0.00%	0.00%	0.00%	0.00%	0.00%
IBLC iShares Blockchain and Tech ETF	5.55%	6.31%	1.60%	1.79%	0.84%

Frequently Asked Questions

Can I hold both GAVA and IBLC in my portfolio?

GAVA and IBLC have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GAVA or IBLC?

On fees, GAVA 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, GAVA or IBLC?

GAVA is cheaper with a 0.35% expense ratio, compared with 0.47% for IBLC.

Which ETF pays a higher dividend yield, GAVA or IBLC?

IBLC has the higher dividend yield at 5.55%, compared with 0.00% for GAVA.

What is the main difference between GAVA and IBLC?

They also come from different issuers: Grayscale and iShares. Their fees differ too: 0.35% for GAVA and 0.47% for IBLC.