GDLC vs. GLNK

Last updated Jun 24, 2026

GDLC (Grayscale CoinDesk Crypto 5 ETF) and GLNK (Grayscale Chainlink Trust ETF) are both Cryptocurrency funds from Grayscale - GDLC tracks the CoinDesk 5 Index while GLNK tracks the Chainlink (LINK). Both are passively managed. Over the past 3 years, GDLC returned 49.72%/yr vs -11.67%/yr for GLNK. At a 0.34 correlation, their price movements are largely independent. GDLC charges 0.59%/yr vs 2.50%/yr for GLNK.

Performance

GDLC vs. GLNK - Performance Comparison

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

Returns By Period

In the year-to-date period, GDLC achieves a -32.51% return, which is significantly higher than GLNK's -38.32% return.

GDLC

• 1D: -3.16%
• 1M: -17.46%
• YTD: -32.51%
• 6M: -32.63%
• 1Y: -38.54%
• 3Y*: 49.72%
• 5Y*: 4.86%
• 10Y*: —

GLNK

• 1D: -4.14%
• 1M: -19.90%
• YTD: -38.32%
• 6M: -39.13%
• 1Y: -61.60%
• 3Y*: -11.67%
• 5Y*: —
• 10Y*: —

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

GDLC vs. GLNK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDLC Grayscale CoinDesk Crypto 5 ETF	-32.51%	0.45%	136.98%	353.26%	-66.87%
GLNK Grayscale Chainlink Trust ETF	-38.32%	-87.10%	38.45%	840.06%	-18.87%

Correlation

The correlation between GDLC and GLNK is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since May 19, 2022	0.34

Over the past year, GDLC and GLNK have become more correlated (0.69) than their long-term average of 0.34, meaning their price movements have been converging.

Return for Risk

GDLC vs. GLNK — 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: 3

GLNK

GLNK Risk / Return Rank: 5
GLNK Sharpe Ratio Rank: 4
GLNK Sortino Ratio Rank: 5
GLNK Omega Ratio Rank: 5
GLNK Calmar Ratio Rank: 3
GLNK Martin Ratio Rank: 5

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. GLNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and Grayscale Chainlink Trust ETF (GLNK). 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	GLNK	Difference
Sharpe ratio: Return per unit of total volatility	-0.79	-0.57	-0.22
Sortino ratio: Return per unit of downside risk	-1.03	-0.52	-0.51
Omega ratio: Gain probability vs. loss probability	0.88	0.94	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.69	-0.69	+0.01
Martin ratio: Return relative to average drawdown	-1.16	-0.89	-0.27

GDLC vs. GLNK - Sharpe Ratio Comparison

The current GDLC Sharpe Ratio is -0.79, which is lower than the GLNK Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of GDLC and GLNK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GDLC vs. GLNK - Drawdown Comparison

The maximum GDLC drawdown since its inception was -94.14%, roughly equal to the maximum GLNK drawdown of -96.17%. Use the drawdown chart below to compare losses from any high point for GDLC and GLNK.

Drawdown Indicators

	GDLC	GLNK	Difference
Max Drawdown Largest peak-to-trough decline	-94.14%	-96.17%	+2.03%
Max Drawdown (1Y) Largest decline over 1 year	-56.34%	-89.27%	+32.93%
Max Drawdown (3Y) Largest decline over 3 years	-56.34%	-96.17%	+39.83%
Max Drawdown (5Y) Largest decline over 5 years	-94.14%	—	—
Current Drawdown Current decline from peak	-56.58%	-96.04%	+39.46%
Average Drawdown Average peak-to-trough decline	-52.78%	-56.16%	+3.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.36%	69.58%	-36.22%

Volatility

GDLC vs. GLNK - Volatility Comparison

The current volatility for Grayscale CoinDesk Crypto 5 ETF (GDLC) is 13.86%, while Grayscale Chainlink Trust ETF (GLNK) has a volatility of 19.21%. This indicates that GDLC experiences smaller price fluctuations and is considered to be less risky than GLNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDLC	GLNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.86%	19.21%	-5.35%
Volatility (6M) Calculated over the trailing 6-month period	36.82%	47.47%	-10.65%
Volatility (1Y) Calculated over the trailing 1-year period	49.09%	107.84%	-58.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.78%	163.97%	-90.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.18%	163.97%	-69.79%

GDLC vs. GLNK - Expense Ratio Comparison

GDLC has a 0.59% expense ratio, which is lower than GLNK's 2.50% expense ratio.

Dividends

GDLC vs. GLNK - Dividend Comparison

Neither GDLC nor GLNK has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDLC and GLNK in my portfolio?

GDLC and GLNK have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDLC or GLNK?

GLNK has higher volatility (19.21%) compared to GDLC (13.86%). In terms of maximum drawdown, GDLC dropped -94.14% vs GLNK's -96.17%.

Which ETF is better, GDLC or GLNK?

On 3-year performance, GDLC leads with 49.72% vs -11.67% for GLNK. On fees, GDLC is cheaper at 0.59% 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.

Which ETF has performed better, GDLC or GLNK?

Over the 3-year period, GDLC has performed better with a 49.72% return vs -11.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDLC or GLNK?

GDLC is cheaper with a 0.59% expense ratio, compared with 2.50% for GLNK.

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

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

What is the main difference between GDLC and GLNK?

GDLC tracks CoinDesk 5 Index, while GLNK tracks Chainlink (LINK). Their fees differ too: 0.59% for GDLC and 2.50% for GLNK.

Which has better risk-adjusted returns?

GLNK currently has the higher Sharpe Ratio (-0.57 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.