GAVA vs. PSCE

Last updated Jul 17, 2026

GAVA (Grayscale Avalanche Staking ETF) and PSCE (Invesco S&P SmallCap Energy ETF) are both exchange-traded funds - GAVA is a Cryptocurrency fund actively managed by Grayscale, while PSCE is a Energy Equities fund tracking the S&P SmallCap 600 Energy Index. GAVA is actively managed, while PSCE is passively managed. At a correlation of -0.27, they often move in opposite directions. GAVA charges 0.35%/yr vs 0.29%/yr for PSCE.

Performance

GAVA vs. PSCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Avalanche Staking ETF (GAVA) and Invesco S&P SmallCap Energy ETF (PSCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GAVA

• 1D: -1.42%
• 1M: -3.21%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSCE

• 1D: -1.13%
• 1M: -0.50%
• 6M: 22.03%
• YTD: 32.92%
• 1Y: 48.59%
• 3Y*: 6.63%
• 5Y*: 12.95%
• 10Y*: -2.42%

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

GAVA vs. PSCE - Yearly Performance Comparison

	2026 (YTD)
GAVA Grayscale Avalanche Staking ETF	-30.56%
PSCE Invesco S&P SmallCap Energy ETF	-0.85%

Correlation

The correlation between GAVA and PSCE is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	-0.27

Return for Risk

GAVA vs. PSCE — 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.

PSCE

PSCE Risk / Return Rank: 66
PSCE Sharpe Ratio Rank: 70
PSCE Sortino Ratio Rank: 63
PSCE Omega Ratio Rank: 59
PSCE Calmar Ratio Rank: 74
PSCE Martin Ratio Rank: 66

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. PSCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Avalanche Staking ETF (GAVA) and Invesco S&P SmallCap Energy ETF (PSCE). 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	PSCE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.36	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	3.02	—
Martin ratio: Return relative to average drawdown	—	9.37	—

Drawdowns

GAVA vs. PSCE - Drawdown Comparison

The maximum GAVA drawdown since its inception was -40.42%, smaller than the maximum PSCE drawdown of -96.21%. Use the drawdown chart below to compare losses from any high point for GAVA and PSCE.

Drawdown Indicators

	GAVA	PSCE	Difference
Max Drawdown Largest peak-to-trough decline	-40.42%	-96.21%	+55.79%
Max Drawdown (1Y) Largest decline over 1 year	—	-16.17%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-44.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-45.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.70%	—
Current Drawdown Current decline from peak	-35.23%	-76.38%	+41.15%
Average Drawdown Average peak-to-trough decline	-17.60%	-58.94%	+41.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.20%	—

Volatility

Volatility by Period

	GAVA	PSCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	53.63%	27.26%	+26.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.63%	37.16%	+16.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.63%	43.03%	+10.60%

GAVA vs. PSCE - Expense Ratio Comparison

GAVA has a 0.35% expense ratio, which is higher than PSCE's 0.29% expense ratio.

Dividends

GAVA vs. PSCE - Dividend Comparison

GAVA has not paid dividends to shareholders, while PSCE's dividend yield for the trailing twelve months is around 2.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAVA Grayscale Avalanche Staking ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSCE Invesco S&P SmallCap Energy ETF	2.27%	2.39%	1.70%	2.57%	1.70%	0.46%	0.87%	0.14%	0.22%	0.04%	0.22%	0.82%

Frequently Asked Questions

Can I hold both GAVA and PSCE in my portfolio?

GAVA and PSCE 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 ETF is better, GAVA or PSCE?

On fees, PSCE is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GAVA or PSCE?

PSCE is cheaper with a 0.29% expense ratio, compared with 0.35% for GAVA.

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

PSCE has the higher dividend yield at 2.27%, compared with 0.00% for GAVA.

What is the main difference between GAVA and PSCE?

GAVA is categorized as Cryptocurrency, while PSCE is Energy Equities. They also come from different issuers: Grayscale and Invesco. Their fees differ too: 0.35% for GAVA and 0.29% for PSCE.