GDLC vs. ETHE
Compare and contrast key facts about Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Ethereum Trust ETF (ETHE).
GDLC and ETHE 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. ETHE is a passively managed fund by Grayscale that tracks the performance of the CoinDesk Ether Price Index . It was launched on Dec 14, 2017. Both GDLC and ETHE 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. ETHE - Performance Comparison
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GDLC vs. ETHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | -24.52% | 0.45% | 136.98% | 353.26% | -84.21% | 27.43% | 233.86% | -5.00% |
ETHE Grayscale Ethereum Trust ETF | -29.54% | -13.03% | 44.14% | 308.40% | -85.29% | 108.77% | 441.75% | -16.94% |
Returns By Period
In the year-to-date period, GDLC achieves a -24.52% return, which is significantly higher than ETHE's -29.54% return.
GDLC
- 1D
- 2.20%
- 1M
- 3.93%
- YTD
- -24.52%
- 6M
- -44.20%
- 1Y
- -10.19%
- 3Y*
- 65.34%
- 5Y*
- -3.20%
- 10Y*
- —
ETHE
- 1D
- 3.83%
- 1M
- 8.93%
- YTD
- -29.54%
- 6M
- -49.90%
- 1Y
- 12.82%
- 3Y*
- 26.07%
- 5Y*
- -1.84%
- 10Y*
- —
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GDLC vs. ETHE - Expense Ratio Comparison
GDLC has a 0.59% expense ratio, which is lower than ETHE's 2.50% expense ratio.
Return for Risk
GDLC vs. ETHE — Risk / Return Rank
GDLC
ETHE
GDLC vs. ETHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Ethereum Trust ETF (ETHE). 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 | ETHE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.20 | 0.17 | -0.37 |
Sortino ratioReturn per unit of downside risk | 0.06 | 0.81 | -0.76 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.09 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | -0.19 | 0.16 | -0.36 |
Martin ratioReturn relative to average drawdown | -0.41 | 0.33 | -0.74 |
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 | ETHE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.20 | 0.17 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | -0.02 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.08 | +0.24 |
Correlation
The correlation between GDLC and ETHE is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
GDLC vs. ETHE - Dividend Comparison
GDLC has not paid dividends to shareholders, while ETHE's dividend yield for the trailing twelve months is around 0.76%.
| TTM | |
|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | 0.00% |
ETHE Grayscale Ethereum Trust ETF | 0.76% |
Drawdowns
GDLC vs. ETHE - Drawdown Comparison
The maximum GDLC drawdown since its inception was -94.14%, roughly equal to the maximum ETHE drawdown of -96.26%. Use the drawdown chart below to compare losses from any high point for GDLC and ETHE.
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Drawdown Indicators
| GDLC | ETHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.14% | -96.26% | +2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -52.91% | -61.89% | +8.98% |
Max Drawdown (5Y)Largest decline over 5 years | -94.14% | -89.85% | -4.29% |
Current DrawdownCurrent decline from peak | -51.45% | -73.36% | +21.91% |
Average DrawdownAverage peak-to-trough decline | -52.90% | -72.24% | +19.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.86% | 30.61% | -5.75% |
Volatility
GDLC vs. ETHE - Volatility Comparison
The current volatility for Grayscale CoinDesk Crypto 5 ETF (GDLC) is 13.67%, while Grayscale Ethereum Trust ETF (ETHE) has a volatility of 19.27%. This indicates that GDLC experiences smaller price fluctuations and is considered to be less risky than ETHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDLC | ETHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.67% | 19.27% | -5.60% |
Volatility (6M)Calculated over the trailing 6-month period | 40.43% | 53.51% | -13.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.42% | 75.70% | -25.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.87% | 85.14% | -7.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.02% | 194.18% | -99.16% |