GDLC vs. GPZ

Last updated Apr 1, 2026

Compare and contrast key facts about Grayscale CoinDesk Crypto 5 ETF (GDLC) and VanEck ETF Trust (GPZ).

GDLC and GPZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GDLC is a passively managed fund by Grayscale that tracks the performance of the CoinDesk 5 Index. It was launched on Feb 1, 2018. GPZ is a passively managed fund by VanEck that tracks the performance of the MarketVector Alternative Asset Managers Index. It was launched on Jun 4, 2025. Both GDLC and GPZ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

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 ETF Trust (GPZ). The values are adjusted to include any dividend payments, if applicable.

GDLC vs. GPZ - Yearly Performance Comparison

	2026 (YTD)	2025
GDLC Grayscale CoinDesk Crypto 5 ETF	-24.52%	-5.76%
GPZ VanEck ETF Trust	-20.90%	9.43%

Returns By Period

In the year-to-date period, GDLC achieves a -24.52% return, which is significantly lower than GPZ's -20.90% return.

GDLC

• 1D: 2.20%
• 1M: 3.93%
• YTD: -24.52%
• 6M: -44.20%
• 1Y: -10.19%
• 3Y*: 65.34%
• 5Y*: -3.20%
• 10Y*: —

GPZ

• 1D: 2.65%
• 1M: -2.74%
• YTD: -20.90%
• 6M: -21.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDLC vs. GPZ - Expense Ratio Comparison

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

GDLC

Grayscale CoinDesk Crypto 5 ETF

GPZ

VanEck ETF Trust

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: 10
GDLC Sharpe Ratio Rank: 8
GDLC Sortino Ratio Rank: 11
GDLC Omega Ratio Rank: 11
GDLC Calmar Ratio Rank: 9
GDLC Martin Ratio Rank: 9

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 ETF Trust (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	-0.20	—	—
Sortino ratio Return per unit of downside risk	0.06	—	—
Omega ratio Gain probability vs. loss probability	1.01	—	—
Calmar ratio Return relative to maximum drawdown	-0.19	—	—
Martin ratio Return relative to average drawdown	-0.41	—	—
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	-0.20	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	-0.61	+0.92

Correlation

The correlation between GDLC and GPZ is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

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 1.05%.

	TTM	2025
GDLC Grayscale CoinDesk Crypto 5 ETF	0.00%	0.00%
GPZ VanEck ETF Trust	1.05%	0.83%

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 (5Y) Largest decline over 5 years	-94.14%	—	—
Current Drawdown Current decline from peak	-51.45%	-27.34%	-24.11%
Average Drawdown Average peak-to-trough decline	-52.90%	-9.54%	-43.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.86%	—	—

Volatility

Volatility by Period

	GDLC	GPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	40.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	50.42%	26.76%	+23.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.87%	26.76%	+51.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.02%	26.76%	+68.26%