GDLC vs. GPZ

Last updated Jun 4, 2026

GDLC (Grayscale CoinDesk Crypto 5 ETF) and GPZ (VanEck Alternative Asset Manager ETF) are both exchange-traded funds - GDLC is a Cryptocurrency fund tracking the CoinDesk 5 Index, while GPZ is a Financials Equities fund tracking the MarketVector Alternative Asset Managers Index. Both are passively managed. At a 0.43 correlation, their price movements are largely independent. GDLC charges 0.59%/yr vs 0.40%/yr for GPZ.

Performance

GDLC vs. GPZ - Performance Comparison

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

Returns By Period

In the year-to-date period, GDLC achieves a -28.93% return, which is significantly lower than GPZ's -19.37% return.

GDLC

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

GPZ

• 1D: -4.70%
• 1M: -6.69%
• YTD: -19.37%
• 6M: -16.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDLC vs. GPZ - Yearly Performance Comparison

	2026 (YTD)	2025
GDLC Grayscale CoinDesk Crypto 5 ETF	-28.93%	-5.76%
GPZ VanEck Alternative Asset Manager ETF	-19.37%	9.43%

Correlation

The correlation between GDLC and GPZ is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.43

Return for Risk

GDLC vs. GPZ — 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. GPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and VanEck Alternative Asset Manager ETF (GPZ). 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	GPZ	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	GPZ	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	-0.44	+0.73

Drawdowns

GDLC vs. GPZ - Drawdown Comparison

The maximum GDLC drawdown since its inception was -94.14%, which is greater than GPZ's maximum drawdown of -31.72%. Use the drawdown chart below to compare losses from any high point for GDLC and GPZ.

Drawdown Indicators

	GDLC	GPZ	Difference
Max Drawdown Largest peak-to-trough decline	-94.14%	-31.72%	-62.42%
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%	-25.93%	-28.35%
Average Drawdown Average peak-to-trough decline	-52.73%	-11.74%	-40.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.04%	—	—

Volatility

Volatility by Period

	GDLC	GPZ	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%	27.33%	+21.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.43%	27.33%	+47.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.91%	27.33%	+66.58%

GDLC vs. GPZ - Expense Ratio Comparison

GDLC has a 0.59% expense ratio, which is higher than GPZ's 0.40% expense ratio.

Dividends

GDLC vs. GPZ - Dividend Comparison

GDLC has not paid dividends to shareholders, while GPZ's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025
GDLC Grayscale CoinDesk Crypto 5 ETF	0.00%	0.00%
GPZ VanEck Alternative Asset Manager ETF	1.03%	0.83%

Frequently Asked Questions

Can I hold both GDLC and GPZ in my portfolio?

GDLC and GPZ have a correlation of 0.43, 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 GPZ?

On fees, GPZ is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GDLC or GPZ?

GPZ is cheaper with a 0.40% expense ratio, compared with 0.59% for GDLC.

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

GPZ has the higher dividend yield at 1.03%, compared with 0.00% for GDLC.

What is the main difference between GDLC and GPZ?

GDLC is categorized as Cryptocurrency, while GPZ is Financials Equities. GDLC tracks CoinDesk 5 Index, while GPZ tracks MarketVector Alternative Asset Managers Index. They also come from different issuers: Grayscale and VanEck. Their fees differ too: 0.59% for GDLC and 0.40% for GPZ.