GDLC vs. USFR
GDLC (Grayscale CoinDesk Crypto 5 ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - GDLC is a Cryptocurrency fund tracking the CoinDesk 5 Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, GDLC returned 4.86%/yr vs 3.71%/yr for USFR. At a correlation of -0.04, they often move in opposite directions. GDLC charges 0.59%/yr vs 0.15%/yr for USFR.
Performance
GDLC vs. USFR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDLC achieves a -32.51% return, which is significantly lower than USFR's 1.82% return.
GDLC
- 1D
- -3.16%
- 1M
- -17.46%
- YTD
- -32.51%
- 6M
- -32.63%
- 1Y
- -38.54%
- 3Y*
- 49.72%
- 5Y*
- 4.86%
- 10Y*
- —
USFR
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.92%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.71%
- 10Y*
- 2.43%
GDLC vs. USFR - 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% |
USFR WisdomTree Floating Rate Treasury Fund | 1.82% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 0.13% |
Correlation
The correlation between GDLC and USFR is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2019 | -0.04 |
The correlation between GDLC and USFR shifts across timeframes, from -0.12 (1 year) to -0.01 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GDLC vs. USFR — Risk / Return Rank
GDLC
USFR
GDLC vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale CoinDesk Crypto 5 ETF (GDLC) and WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.46 | ||
| Sortino ratioReturn per unit of downside risk | -51.16 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 13.31 | -12.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 201.33 | -202.02 |
| Martin ratioReturn relative to average drawdown | -1.16 | 779.76 | -780.92 |
Loading charts...
Drawdowns
GDLC vs. USFR - Drawdown Comparison
The maximum GDLC drawdown since its inception was -94.14%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for GDLC and USFR.
Loading charts...
Drawdown Indicators
| GDLC | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.14% | -1.36% | -92.78% |
Max Drawdown (1Y)Largest decline over 1 year | -56.34% | -0.02% | -56.32% |
Max Drawdown (3Y)Largest decline over 3 years | -56.34% | -0.06% | -56.28% |
Max Drawdown (5Y)Largest decline over 5 years | -94.14% | -0.18% | -93.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -56.58% | 0.00% | -56.58% |
Average DrawdownAverage peak-to-trough decline | -52.78% | -0.15% | -52.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.36% | 0.01% | +33.35% |
Volatility
GDLC vs. USFR - Volatility Comparison
Grayscale CoinDesk Crypto 5 ETF (GDLC) has a higher volatility of 13.86% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that GDLC's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GDLC | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.86% | 0.09% | +13.77% |
Volatility (6M)Calculated over the trailing 6-month period | 36.82% | 0.19% | +36.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.09% | 0.27% | +48.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.78% | 0.40% | +73.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.18% | 0.78% | +93.40% |
GDLC vs. USFR - Expense Ratio Comparison
GDLC has a 0.59% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
GDLC vs. USFR - Dividend Comparison
GDLC has not paid dividends to shareholders, while USFR's dividend yield for the trailing twelve months is around 3.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USFR WisdomTree Floating Rate Treasury Fund | 3.90% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
GDLC and USFR have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDLC has higher volatility (13.86%) compared to USFR (0.09%). In terms of maximum drawdown, GDLC dropped -94.14% vs USFR's -1.36%.
On 5-year performance, GDLC leads with 4.86% vs 3.71% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GDLC has performed better with a 4.86% return vs 3.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.59% for GDLC.
USFR has the higher dividend yield at 3.90%, compared with 0.00% for GDLC.
GDLC is categorized as Cryptocurrency, while USFR is Government Bonds. GDLC tracks CoinDesk 5 Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Grayscale and WisdomTree. Their fees differ too: 0.59% for GDLC and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.67 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.
Find the right allocation for GDLC and USFR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer