GDLC vs. BITI
Compare and contrast key facts about Grayscale CoinDesk Crypto 5 ETF (GDLC) and ProShares Shrt Bitcoin ETF (BITI).
GDLC and BITI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GDLC is a passively managed fund by Grayscale that tracks the performance of the CoinDesk 5 Index. It was launched on Feb 1, 2018. BITI is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index (-100%). It was launched on Jun 21, 2022. Both GDLC and BITI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GDLC vs. BITI - Performance Comparison
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GDLC vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | -24.52% | 0.45% | 136.98% | 353.26% | -51.07% |
BITI ProShares Shrt Bitcoin ETF | 20.57% | -1.76% | -62.60% | -66.17% | -0.06% |
Returns By Period
In the year-to-date period, GDLC achieves a -24.52% return, which is significantly lower than BITI's 20.57% return.
GDLC
- 1D
- 2.20%
- 1M
- 3.93%
- YTD
- -24.52%
- 6M
- -44.20%
- 1Y
- -10.19%
- 3Y*
- 65.34%
- 5Y*
- -3.20%
- 10Y*
- —
BITI
- 1D
- -2.02%
- 1M
- -4.54%
- YTD
- 20.57%
- 6M
- 52.86%
- 1Y
- 7.92%
- 3Y*
- -34.03%
- 5Y*
- —
- 10Y*
- —
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GDLC vs. BITI - Expense Ratio Comparison
GDLC has a 0.59% expense ratio, which is lower than BITI's 1.03% expense ratio.
Return for Risk
GDLC vs. BITI — Risk / Return Rank
GDLC
BITI
GDLC vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and ProShares Shrt Bitcoin ETF (BITI). 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.
| GDLC | BITI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.20 | 0.18 | -0.38 |
Sortino ratioReturn per unit of downside risk | 0.06 | 0.57 | -0.52 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.07 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | -0.19 | 0.24 | -0.43 |
Martin ratioReturn relative to average drawdown | -0.41 | 0.37 | -0.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GDLC | BITI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.20 | 0.18 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | -0.75 | +1.06 |
Correlation
The correlation between GDLC and BITI is -0.84. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
GDLC vs. BITI - Dividend Comparison
GDLC has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 5.93%.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BITI ProShares Shrt Bitcoin ETF | 5.79% | 1.60% | 3.91% | 3.33% | 0.06% |
Drawdowns
GDLC vs. BITI - Drawdown Comparison
The maximum GDLC drawdown since its inception was -94.14%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for GDLC and BITI.
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Drawdown Indicators
| GDLC | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.14% | -92.16% | -1.98% |
Max Drawdown (1Y)Largest decline over 1 year | -52.91% | -39.64% | -13.27% |
Max Drawdown (5Y)Largest decline over 5 years | -94.14% | — | — |
Current DrawdownCurrent decline from peak | -51.45% | -86.84% | +35.39% |
Average DrawdownAverage peak-to-trough decline | -52.90% | -67.01% | +14.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.86% | 25.25% | -0.39% |
Volatility
GDLC vs. BITI - Volatility Comparison
Grayscale CoinDesk Crypto 5 ETF (GDLC) and ProShares Shrt Bitcoin ETF (BITI) have volatilities of 13.67% and 13.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDLC | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.67% | 13.10% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 40.43% | 36.31% | +4.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.42% | 45.21% | +5.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.87% | 53.20% | +24.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.02% | 53.20% | +41.82% |