GDE vs. GDLC

Last updated Jul 22, 2026

GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) and GDLC (Grayscale CoinDesk Crypto 5 ETF) are both exchange-traded funds - GDE is a Gold fund actively managed by WisdomTree, while GDLC is a Cryptocurrency fund tracking the CoinDesk 5 Index. GDE is actively managed, while GDLC is passively managed. Over the past 3 years, GDE returned 40.14%/yr vs 48.12%/yr for GDLC. At a 0.34 correlation, their price movements are largely independent. GDE charges 0.20%/yr vs 0.59%/yr for GDLC.

Performance

GDE vs. GDLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) and Grayscale CoinDesk Crypto 5 ETF (GDLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDE achieves a 0.84% return, which is significantly higher than GDLC's -27.50% return.

GDE

• 1D: 2.17%
• 1M: -2.88%
• 6M: -6.23%
• YTD: 0.84%
• 1Y: 32.42%
• 3Y*: 40.14%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 29.79%

GDLC

• 1D: 2.15%
• 1M: 6.26%
• 6M: -29.05%
• YTD: -27.50%
• 1Y: -44.33%
• 3Y*: 48.12%
• 5Y*: 6.47%
• 10Y*: —
• ALL TIME*: 21.70%

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

GDE vs. GDLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	0.84%	73.76%	44.79%	33.85%	-8.58%
GDLC Grayscale CoinDesk Crypto 5 ETF	-27.50%	0.45%	136.98%	353.26%	-80.41%

Correlation

The correlation between GDE and GDLC is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	0.34

The correlation between GDE and GDLC shifts across timeframes, from 0.30 (3 years) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GDE vs. GDLC — Risk / Return Rank

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

GDE

GDE Risk / Return Rank: 37
GDE Sharpe Ratio Rank: 40
GDE Sortino Ratio Rank: 36
GDE Omega Ratio Rank: 41
GDE Calmar Ratio Rank: 38
GDE Martin Ratio Rank: 32

GDLC

GDLC Risk / Return Rank: 3
GDLC Sharpe Ratio Rank: 2
GDLC Sortino Ratio Rank: 3
GDLC Omega Ratio Rank: 3
GDLC Calmar Ratio Rank: 3
GDLC Martin Ratio Rank: 3

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.

GDE vs. GDLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) and Grayscale CoinDesk Crypto 5 ETF (GDLC). 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.

	GDE	GDLC	Difference
Sharpe ratio: Return per unit of total volatility	1.06	-0.91	+1.97
Sortino ratio: Return per unit of downside risk	1.46	-1.30	+2.76
Omega ratio: Gain probability vs. loss probability	1.20	0.86	+0.35
Calmar ratio: Return relative to maximum drawdown	1.44	-0.78	+2.21
Martin ratio: Return relative to average drawdown	3.36	-1.21	+4.57

GDE vs. GDLC - Sharpe Ratio Comparison

The current GDE Sharpe Ratio is 1.06, which is higher than the GDLC Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of GDE and GDLC, 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

GDE vs. GDLC - Drawdown Comparison

The maximum GDE drawdown since its inception was -32.01%, smaller than the maximum GDLC drawdown of -94.14%. Use the drawdown chart below to compare losses from any high point for GDE and GDLC.

Drawdown Indicators

	GDE	GDLC	Difference
Max Drawdown Largest peak-to-trough decline	-32.01%	-94.14%	+62.13%
Max Drawdown (1Y) Largest decline over 1 year	-22.66%	-57.18%	+34.52%
Max Drawdown (3Y) Largest decline over 3 years	-22.66%	-57.18%	+34.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-94.14%	—
Current Drawdown Current decline from peak	-18.41%	-53.36%	+34.95%
Average Drawdown Average peak-to-trough decline	-8.17%	-52.82%	+44.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.69%	36.55%	-26.86%

Volatility

GDE vs. GDLC - Volatility Comparison

The current volatility for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) is 7.79%, while Grayscale CoinDesk Crypto 5 ETF (GDLC) has a volatility of 10.74%. This indicates that GDE experiences smaller price fluctuations and is considered to be less risky than GDLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDE	GDLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.79%	10.74%	-2.95%
Volatility (6M) Calculated over the trailing 6-month period	26.42%	36.65%	-10.23%
Volatility (1Y) Calculated over the trailing 1-year period	30.86%	49.03%	-18.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.11%	72.89%	-45.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.11%	93.72%	-66.61%

GDE vs. GDLC - Expense Ratio Comparison

GDE has a 0.20% expense ratio, which is lower than GDLC's 0.59% expense ratio.

Dividends

GDE vs. GDLC - Dividend Comparison

GDE's dividend yield for the trailing twelve months is around 4.28%, while GDLC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.28%	4.32%	7.14%	2.22%	0.81%
GDLC Grayscale CoinDesk Crypto 5 ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GDE and GDLC in my portfolio?

GDE and GDLC have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDE or GDLC?

GDLC has higher volatility (10.74%) compared to GDE (7.79%). In terms of maximum drawdown, GDE dropped -32.01% vs GDLC's -94.14%.

Which ETF is better, GDE or GDLC?

On 3-year performance, GDLC leads with 48.12% vs 40.14% for GDE. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 7.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDE or GDLC?

Over the 3-year period, GDLC has performed better with a 48.12% return vs 40.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDE or GDLC?

GDE is cheaper with a 0.20% expense ratio, compared with 0.59% for GDLC.

Which ETF pays a higher dividend yield, GDE or GDLC?

GDE has the higher dividend yield at 4.28%, compared with 0.00% for GDLC.

What is the main difference between GDE and GDLC?

GDE is categorized as Gold, while GDLC is Cryptocurrency. They also come from different issuers: WisdomTree and Grayscale. Their fees differ too: 0.20% for GDE and 0.59% for GDLC.

Which has better risk-adjusted returns?

GDE currently has the higher Sharpe Ratio (1.06 vs -0.91), 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.