GDLC vs. ETH
GDLC (Grayscale CoinDesk Crypto 5 ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds from Grayscale. GDLC is passively managed, while ETH is actively managed. Over the past year, GDLC returned -42.29% vs -45.97% for ETH. Their correlation of 0.84 means they have usually moved in the same direction. GDLC charges 0.59%/yr vs 0.15%/yr for ETH.
Performance
GDLC vs. ETH - 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 ETH's -36.49% 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%
ETH
- 1D
- 0.11%
- 1M
- 10.14%
- 6M
- -18.78%
- YTD
- -36.49%
- 1Y
- -45.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $31.27M | $33.28M | $46.00M | |
| $1.36M | $1.40M | $1.44M |
GDLC vs. ETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | -30.16% | 0.45% | 70.49% |
ETH Grayscale Ethereum Staking Mini ETF | -36.49% | -10.89% | -4.58% |
Correlation
The correlation between GDLC and ETH is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.84 |
The correlation between GDLC and ETH has been stable across timeframes, ranging from 0.84 to 0.94 - a consistent structural relationship.
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Return for Risk
GDLC vs. ETH — Risk / Return Rank
GDLC
ETH
GDLC vs. ETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Ethereum Staking Mini ETF (ETH). 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 | ETH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.91 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.68 | -0.06 |
| Martin ratioReturn relative to average drawdown | -1.12 | -1.02 | -0.10 |
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Drawdowns
GDLC vs. ETH - Drawdown Comparison
The maximum GDLC drawdown since its inception was -94.14%, which is greater than ETH's maximum drawdown of -67.52%. Use the drawdown chart below to compare losses from any high point for GDLC and ETH.
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Drawdown Indicators
| GDLC | ETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.14% | -67.52% | -26.62% |
Max Drawdown (1Y)Largest decline over 1 year | -57.18% | -67.52% | +10.34% |
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 | -55.07% | -60.89% | +5.82% |
Average DrawdownAverage peak-to-trough decline | -52.83% | -35.09% | -17.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.88% | 45.23% | -7.35% |
Volatility
GDLC vs. ETH - Volatility Comparison
The current volatility for Grayscale CoinDesk Crypto 5 ETF (GDLC) is 9.27%, while Grayscale Ethereum Staking Mini ETF (ETH) has a volatility of 12.23%. This indicates that GDLC experiences smaller price fluctuations and is considered to be less risky than ETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDLC | ETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 12.23% | -2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 35.61% | 45.64% | -10.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.03% | 67.03% | -18.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.69% | 71.15% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.49% | 71.15% | +22.34% |
GDLC vs. ETH - Expense Ratio Comparison
GDLC has a 0.59% expense ratio, which is higher than ETH's 0.15% expense ratio.
Dividends
GDLC vs. ETH - Dividend Comparison
Neither GDLC nor ETH has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, GDLC and ETH 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.
ETH has higher volatility (12.23%) compared to GDLC (9.27%). In terms of maximum drawdown, GDLC dropped -94.14% vs ETH's -67.52%.
On 1-year performance, GDLC leads with -42.29% vs -45.97% for ETH. On fees, ETH is cheaper at 0.15% 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 1-year period, GDLC has performed better with a -42.29% return vs -45.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETH is cheaper with a 0.15% expense ratio, compared with 0.59% for GDLC.
GDLC and ETH have nearly identical dividend yields, around 0.00%.
Their fees differ too: 0.59% for GDLC and 0.15% for ETH.
ETH currently has the higher Sharpe Ratio (-0.69 vs -0.87), 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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