GDLC vs. GDXJ
GDLC (Grayscale CoinDesk Crypto 5 ETF) and GDXJ (VanEck Junior Gold Miners ETF) are both exchange-traded funds - GDLC is a Cryptocurrency fund tracking the CoinDesk 5 Index, while GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index. Both are passively managed. Over the past 5 years, GDLC returned 2.21%/yr vs 17.46%/yr for GDXJ. At a 0.22 correlation, their price movements are largely independent. GDLC charges 0.59%/yr vs 0.52%/yr for GDXJ.
Performance
GDLC vs. GDXJ - Performance Comparison
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Returns By Period
In the year-to-date period, GDLC achieves a -28.93% return, which is significantly lower than GDXJ's -2.55% return.
GDLC
- 1D
- -3.29%
- 1M
- -18.37%
- YTD
- -28.93%
- 6M
- -33.67%
- 1Y
- -33.81%
- 3Y*
- 64.48%
- 5Y*
- 2.21%
- 10Y*
- —
GDXJ
- 1D
- -4.40%
- 1M
- -1.95%
- YTD
- -2.55%
- 6M
- 6.26%
- 1Y
- 65.12%
- 3Y*
- 46.12%
- 5Y*
- 17.46%
- 10Y*
- 13.07%
GDLC vs. GDXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | -28.93% | 0.45% | 136.98% | 353.26% | -84.21% | 27.43% | 233.86% | -5.00% |
GDXJ VanEck Junior Gold Miners ETF | -2.55% | 172.28% | 15.67% | 7.12% | -14.53% | -21.25% | 30.40% | 15.77% |
Correlation
The correlation between GDLC and GDXJ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2019 | 0.22 |
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Return for Risk
GDLC vs. GDXJ — Risk / Return Rank
GDLC
GDXJ
GDLC vs. GDXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and VanEck Junior Gold Miners ETF (GDXJ). 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 | GDXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.24 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 1.99 | -2.63 |
| Martin ratioReturn relative to average drawdown | -1.09 | 4.95 | -6.04 |
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 | GDXJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | 1.32 | -2.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.43 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.06 | +0.24 |
Drawdowns
GDLC vs. GDXJ - Drawdown Comparison
The maximum GDLC drawdown since its inception was -94.14%, which is greater than GDXJ's maximum drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for GDLC and GDXJ.
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Drawdown Indicators
| GDLC | GDXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.14% | -88.66% | -5.48% |
Max Drawdown (1Y)Largest decline over 1 year | -52.91% | -32.92% | -19.99% |
Max Drawdown (3Y)Largest decline over 3 years | -52.91% | -32.92% | -19.99% |
Max Drawdown (5Y)Largest decline over 5 years | -94.14% | -50.99% | -43.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.77% | — |
Current DrawdownCurrent decline from peak | -54.28% | -29.01% | -25.27% |
Average DrawdownAverage peak-to-trough decline | -52.73% | -60.50% | +7.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.04% | 13.19% | +17.85% |
Volatility
GDLC vs. GDXJ - Volatility Comparison
The current volatility for Grayscale CoinDesk Crypto 5 ETF (GDLC) is 9.78%, while VanEck Junior Gold Miners ETF (GDXJ) has a volatility of 16.66%. This indicates that GDLC experiences smaller price fluctuations and is considered to be less risky than GDXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDLC | GDXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.78% | 16.66% | -6.88% |
Volatility (6M)Calculated over the trailing 6-month period | 36.66% | 41.34% | -4.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.54% | 49.79% | -1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.43% | 41.10% | +33.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.91% | 44.06% | +49.85% |
GDLC vs. GDXJ - Expense Ratio Comparison
GDLC has a 0.59% expense ratio, which is higher than GDXJ's 0.52% expense ratio.
Dividends
GDLC vs. GDXJ - Dividend Comparison
GDLC has not paid dividends to shareholders, while GDXJ's dividend yield for the trailing twelve months is around 2.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GDXJ VanEck Junior Gold Miners ETF | 2.39% | 2.33% | 2.61% | 0.72% | 0.51% | 1.78% | 1.58% | 0.39% | 0.45% | 0.03% | 4.78% | 0.72% |
Frequently Asked Questions
GDLC and GDXJ have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXJ has higher volatility (16.66%) compared to GDLC (9.78%). In terms of maximum drawdown, GDLC dropped -94.14% vs GDXJ's -88.66%.
On 5-year performance, GDXJ leads with 17.46% vs 2.21% for GDLC. On fees, GDXJ is cheaper at 0.52% per year. On volatility, GDLC has been the lower-risk option at 9.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GDXJ has performed better with a 17.46% return vs 2.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDXJ is cheaper with a 0.52% expense ratio, compared with 0.59% for GDLC.
GDXJ has the higher dividend yield at 2.39%, compared with 0.00% for GDLC.
GDLC is categorized as Cryptocurrency, while GDXJ is Gold. GDLC tracks CoinDesk 5 Index, while GDXJ tracks MVIS Global Junior Gold Miners Index. They also come from different issuers: Grayscale and VanEck. Their fees differ too: 0.59% for GDLC and 0.52% for GDXJ.
GDXJ currently has the higher Sharpe Ratio (1.31 vs -0.70), 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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