GDLC vs. GFOF

Last updated Jun 4, 2026

GDLC (Grayscale CoinDesk Crypto 5 ETF) and GFOF (Grayscale Future of Finance ETF) are both exchange-traded funds - GDLC is a Cryptocurrency fund tracking the CoinDesk 5 Index, while GFOF is a Blockchain fund tracking the Bloomberg Grayscale Future of Finance Index. Both are passively managed. A 0.55 correlation means they provide meaningful diversification when combined. GDLC charges 0.59%/yr vs 0.70%/yr for GFOF.

Performance

GDLC vs. GFOF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Future of Finance ETF (GFOF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GDLC

• 1D: -3.29%
• 1M: -18.37%
• YTD: -28.93%
• 6M: -33.67%
• 1Y: -33.81%
• 3Y*: 64.48%
• 5Y*: 2.21%
• 10Y*: —

GFOF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GDLC vs. GFOF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDLC Grayscale CoinDesk Crypto 5 ETF	-28.93%	0.45%	136.98%	353.26%	-81.26%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	60.08%	145.49%	-68.58%

Correlation

The correlation between GDLC and GFOF is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (All Time) Calculated using the full available price history since Feb 3, 2022	0.55

The correlation between GDLC and GFOF has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.

Return for Risk

GDLC vs. GFOF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GDLC

GDLC Risk / Return Rank: 3
GDLC Sharpe Ratio Rank: 3
GDLC Sortino Ratio Rank: 3
GDLC Omega Ratio Rank: 3
GDLC Calmar Ratio Rank: 3
GDLC Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GDLC vs. GFOF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Future of Finance ETF (GFOF). 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	GFOF	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	—	—
Sortino ratio: Return per unit of downside risk	-0.84	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.64	—	—
Martin ratio: Return relative to average drawdown	-1.09	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GDLC	GFOF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.70	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	—	—

Drawdowns

Drawdown Indicators

	GDLC	GFOF	Difference
Max Drawdown Largest peak-to-trough decline	-94.14%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-52.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-52.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-94.14%	—	—
Current Drawdown Current decline from peak	-54.28%	—	—
Average Drawdown Average peak-to-trough decline	-52.73%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	31.04%	—	—

Volatility

Volatility by Period

	GDLC	GFOF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	48.54%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.43%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.91%	—	—

GDLC vs. GFOF - Expense Ratio Comparison

GDLC has a 0.59% expense ratio, which is lower than GFOF's 0.70% expense ratio.

Dividends

GDLC vs. GFOF - Dividend Comparison

Neither GDLC nor GFOF has paid dividends to shareholders.

Position	TTM	2025	2024	2023
GDLC Grayscale CoinDesk Crypto 5 ETF	0.00%	0.00%	0.00%	0.00%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%

Frequently Asked Questions

Can I hold both GDLC and GFOF in my portfolio?

GDLC and GFOF have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GDLC or GFOF?

On fees, GDLC is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GDLC or GFOF?

GDLC is cheaper with a 0.59% expense ratio, compared with 0.70% for GFOF.

Which ETF pays a higher dividend yield, GDLC or GFOF?

GDLC and GFOF have nearly identical dividend yields, around 0.00%.

What is the main difference between GDLC and GFOF?

GDLC is categorized as Cryptocurrency, while GFOF is Blockchain. GDLC tracks CoinDesk 5 Index, while GFOF tracks Bloomberg Grayscale Future of Finance Index. Their fees differ too: 0.59% for GDLC and 0.70% for GFOF.