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 4.86%/yr vs 17.86%/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 -32.51% return, which is significantly lower than GDXJ's -11.62% return.
GDLC
- 1D
- -3.16%
- 1M
- -17.46%
- YTD
- -32.51%
- 6M
- -32.63%
- 1Y
- -38.54%
- 3Y*
- 49.72%
- 5Y*
- 4.86%
- 10Y*
- —
GDXJ
- 1D
- -5.24%
- 1M
- -9.91%
- YTD
- -11.62%
- 6M
- -16.20%
- 1Y
- 51.11%
- 3Y*
- 44.53%
- 5Y*
- 17.86%
- 10Y*
- 10.91%
GDLC vs. GDXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | -32.51% | 0.45% | 136.98% | 353.26% | -84.21% | 27.43% | 233.86% | -29.63% |
GDXJ VanEck Junior Gold Miners ETF | -11.62% | 172.28% | 15.67% | 7.12% | -14.53% | -21.25% | 30.40% | 15.36% |
Correlation
The correlation between GDLC and GDXJ is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2019 | 0.22 |
The correlation between GDLC and GDXJ shifts across timeframes, from 0.19 (3 years) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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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.
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 | GDXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.48 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.20 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 1.30 | -1.99 |
| Martin ratioReturn relative to average drawdown | -1.16 | 3.40 | -4.56 |
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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 | -56.34% | -39.47% | -16.87% |
Max Drawdown (3Y)Largest decline over 3 years | -56.34% | -39.47% | -16.87% |
Max Drawdown (5Y)Largest decline over 5 years | -94.14% | -48.79% | -45.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.77% | — |
Current DrawdownCurrent decline from peak | -56.58% | -35.62% | -20.96% |
Average DrawdownAverage peak-to-trough decline | -52.78% | -60.40% | +7.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.36% | 15.08% | +18.28% |
Volatility
GDLC vs. GDXJ - Volatility Comparison
The current volatility for Grayscale CoinDesk Crypto 5 ETF (GDLC) is 13.86%, while VanEck Junior Gold Miners ETF (GDXJ) has a volatility of 20.19%. 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 | 13.86% | 20.19% | -6.33% |
Volatility (6M)Calculated over the trailing 6-month period | 36.82% | 44.45% | -7.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.09% | 52.42% | -3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.78% | 41.71% | +32.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.18% | 44.30% | +49.88% |
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 2.63%.
| 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 | 2.63% | 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 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXJ has higher volatility (20.19%) compared to GDLC (13.86%). In terms of maximum drawdown, GDLC dropped -94.14% vs GDXJ's -88.66%.
On 5-year performance, GDXJ leads with 17.86% vs 4.86% for GDLC. On fees, GDXJ is cheaper at 0.52% per year. On volatility, GDLC has been the lower-risk option at 13.86%. 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 17.86% return vs 4.86%. 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 2.63%, 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 (0.98 vs -0.79), 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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