GDLC vs. BTC
GDLC (Grayscale CoinDesk Crypto 5 ETF) and BTC (Grayscale Bitcoin Mini Trust ETF) are both Cryptocurrency funds from Grayscale. GDLC is passively managed, while BTC is actively managed. Over the past year, GDLC returned -43.01% vs -44.44% for BTC. Their correlation of 0.92 means they have usually moved in the same direction. GDLC charges 0.59%/yr vs 0.15%/yr for BTC.
Performance
GDLC vs. BTC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDLC achieves a -31.03% return, which is significantly lower than BTC's -28.20% return.
GDLC
- 1D
- -2.56%
- 1M
- 2.89%
- 6M
- -27.20%
- YTD
- -31.03%
- 1Y
- -43.01%
- 3Y*
- 46.90%
- 5Y*
- -0.13%
- 10Y*
- —
- ALL TIME*
- 20.69%
BTC
- 1D
- -2.86%
- 1M
- 2.32%
- 6M
- -25.00%
- YTD
- -28.20%
- 1Y
- -44.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -2.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $40.40M | $40.42M | $55.08M | |
| $1.03M | $1.29M | $1.41M |
GDLC vs. BTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | -31.03% | 0.45% | 76.48% |
BTC Grayscale Bitcoin Mini Trust ETF | -28.20% | -7.50% | 41.93% |
Correlation
The correlation between GDLC and BTC is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024 | 0.92 |
The correlation between GDLC and BTC has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GDLC vs. BTC — Risk / Return Rank
GDLC
BTC
GDLC vs. BTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Bitcoin Mini Trust ETF (BTC). 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.
| GDLC | BTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.83 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | -0.87 | +0.07 |
| Martin ratioReturn relative to average drawdown | -1.21 | -1.34 | +0.12 |
Loading charts...
Drawdowns
GDLC vs. BTC - Drawdown Comparison
The maximum GDLC drawdown since its inception was -94.14%, which is greater than BTC's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for GDLC and BTC.
Loading charts...
Drawdown Indicators
| GDLC | BTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.14% | -53.30% | -40.84% |
Max Drawdown (1Y)Largest decline over 1 year | -57.18% | -53.30% | -3.88% |
Max Drawdown (3Y)Largest decline over 3 years | -57.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -94.14% | — | — |
Current DrawdownCurrent decline from peak | -55.64% | -49.96% | -5.68% |
Average DrawdownAverage peak-to-trough decline | -52.83% | -19.39% | -33.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.73% | 34.60% | +3.13% |
Volatility
GDLC vs. BTC - Volatility Comparison
Grayscale CoinDesk Crypto 5 ETF (GDLC) has a higher volatility of 9.63% compared to Grayscale Bitcoin Mini Trust ETF (BTC) at 9.08%. This indicates that GDLC's price experiences larger fluctuations and is considered to be riskier than BTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GDLC | BTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.63% | 9.08% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 35.59% | 33.72% | +1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.13% | 44.38% | +4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.87% | 47.53% | +24.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.52% | 47.53% | +45.99% |
GDLC vs. BTC - Expense Ratio Comparison
GDLC has a 0.59% expense ratio, which is higher than BTC's 0.15% expense ratio.
Dividends
GDLC vs. BTC - Dividend Comparison
Neither GDLC nor BTC has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, GDLC and BTC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GDLC has higher volatility (9.63%) compared to BTC (9.08%). In terms of maximum drawdown, GDLC dropped -94.14% vs BTC's -53.30%.
On 1-year performance, GDLC leads with -43.01% vs -44.44% for BTC. On fees, BTC is cheaper at 0.15% per year. On volatility, BTC has been the lower-risk option at 9.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GDLC has performed better with a -43.01% return vs -44.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BTC is cheaper with a 0.15% expense ratio, compared with 0.59% for GDLC.
GDLC and BTC have nearly identical dividend yields, around 0.00%.
Their fees differ too: 0.59% for GDLC and 0.15% for BTC.
GDLC currently has the higher Sharpe Ratio (-0.93 vs -1.04), 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.
Find the right allocation for GDLC and BTC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer