GDLC vs. ETCG
GDLC (Grayscale CoinDesk Crypto 5 ETF) and ETCG (Grayscale Ethereum Classic Trust (ETC)) are both Cryptocurrency funds from Grayscale - GDLC tracks the CoinDesk 5 Index while ETCG tracks the Ethereum Classic (ETC). Both are passively managed. Over the past 5 years, GDLC returned -3.08%/yr vs -37.89%/yr for ETCG. Their 0.59 correlation means they have sometimes moved together and sometimes differently. GDLC charges 0.59%/yr vs 2.50%/yr for ETCG.
Performance
GDLC vs. ETCG - Performance Comparison
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Returns By Period
In the year-to-date period, GDLC achieves a -30.16% return, which is significantly higher than ETCG's -48.20% return.
GDLC
- 1D
- 1.26%
- 1M
- 4.19%
- 6M
- -19.67%
- YTD
- -30.16%
- 1Y
- -42.29%
- 3Y*
- 49.03%
- 5Y*
- -3.08%
- 10Y*
- —
- ALL TIME*
- 20.89%
ETCG
- 1D
- 0.00%
- 1M
- -14.29%
- 6M
- -34.76%
- YTD
- -48.20%
- 1Y
- -66.90%
- 3Y*
- -20.39%
- 5Y*
- -37.89%
- 10Y*
- —
- ALL TIME*
- -22.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $68.71K | $56.64K | $109.86K | |
| $1.36M | $1.40M | $1.44M |
GDLC vs. ETCG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | -30.16% | 0.45% | 136.98% | 353.26% | -84.21% | 27.43% | 233.86% | -29.63% |
ETCG Grayscale Ethereum Classic Trust (ETC) | -48.20% | -39.78% | -9.57% | 289.22% | -80.45% | 145.11% | -10.70% | -24.34% |
Correlation
The correlation between GDLC and ETCG is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2019 | 0.59 |
The correlation between GDLC and ETCG shifts across timeframes, from 0.59 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GDLC vs. ETCG — Risk / Return Rank
GDLC
ETCG
GDLC vs. ETCG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Ethereum Classic Trust (ETC) (ETCG). 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 | ETCG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.75 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.92 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.12 | -1.31 | +0.19 |
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Drawdowns
GDLC vs. ETCG - Drawdown Comparison
The maximum GDLC drawdown since its inception was -94.14%, roughly equal to the maximum ETCG drawdown of -96.59%. Use the drawdown chart below to compare losses from any high point for GDLC and ETCG.
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Drawdown Indicators
| GDLC | ETCG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.14% | -96.59% | +2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -57.18% | -72.70% | +15.52% |
Max Drawdown (3Y)Largest decline over 3 years | -57.18% | -82.25% | +25.07% |
Max Drawdown (5Y)Largest decline over 5 years | -94.14% | -92.70% | -1.44% |
Current DrawdownCurrent decline from peak | -55.07% | -96.25% | +41.18% |
Average DrawdownAverage peak-to-trough decline | -52.83% | -82.89% | +30.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.88% | 51.27% | -13.39% |
Volatility
GDLC vs. ETCG - Volatility Comparison
Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Ethereum Classic Trust (ETC) (ETCG) have volatilities of 9.27% and 9.53%, 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 | ETCG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 9.53% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 35.61% | 33.34% | +2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.03% | 57.33% | -8.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.69% | 90.71% | -19.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.49% | 114.30% | -20.81% |
GDLC vs. ETCG - Expense Ratio Comparison
GDLC has a 0.59% expense ratio, which is lower than ETCG's 2.50% expense ratio.
Dividends
GDLC vs. ETCG - Dividend Comparison
Neither GDLC nor ETCG has paid dividends to shareholders.
Frequently Asked Questions
GDLC and ETCG have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETCG has higher volatility (9.53%) compared to GDLC (9.27%). In terms of maximum drawdown, GDLC dropped -94.14% vs ETCG's -96.59%.
On 5-year performance, GDLC leads with -3.08% vs -37.89% for ETCG. On fees, GDLC is cheaper at 0.59% per year. On volatility, GDLC has been the lower-risk option at 9.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GDLC has performed better with a -3.08% return vs -37.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDLC is cheaper with a 0.59% expense ratio, compared with 2.50% for ETCG.
GDLC and ETCG have nearly identical dividend yields, around 0.00%.
GDLC tracks CoinDesk 5 Index, while ETCG tracks Ethereum Classic (ETC). Their fees differ too: 0.59% for GDLC and 2.50% for ETCG.
GDLC currently has the higher Sharpe Ratio (-0.87 vs -1.17), 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.
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