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 2.21%/yr vs 3.66%/yr for USFR. At a correlation of -0.03, they often move in opposite directions. GDLC charges 0.59%/yr vs 0.15%/yr for USFR.
Performance
GDLC vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, GDLC achieves a -28.93% return, which is significantly lower than USFR's 1.60% return.
GDLC
- 1D
- -3.29%
- 1M
- -18.37%
- YTD
- -28.93%
- 6M
- -33.67%
- 1Y
- -33.81%
- 3Y*
- 64.48%
- 5Y*
- 2.21%
- 10Y*
- —
USFR
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 4.03%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
GDLC vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | -28.93% | 0.45% | 136.98% | 353.26% | -84.21% | 27.43% | 233.86% | -5.00% |
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 0.13% |
Correlation
The correlation between GDLC and USFR is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2019 | -0.03 |
The correlation between GDLC and USFR shifts across timeframes, from -0.10 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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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.
| GDLC | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.81 | ||
| Sortino ratioReturn per unit of downside risk | -51.48 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 13.43 | -12.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 203.42 | -204.06 |
| Martin ratioReturn relative to average drawdown | -1.09 | 787.84 | -788.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GDLC | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | 15.11 | -15.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 9.26 | -9.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 3.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 1.60 | -1.31 |
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.
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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 | -52.91% | -0.02% | -52.89% |
Max Drawdown (3Y)Largest decline over 3 years | -52.91% | -0.06% | -52.85% |
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 | -54.28% | 0.00% | -54.28% |
Average DrawdownAverage peak-to-trough decline | -52.73% | -0.16% | -52.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.04% | 0.01% | +31.03% |
Volatility
GDLC vs. USFR - Volatility Comparison
Grayscale CoinDesk Crypto 5 ETF (GDLC) has a higher volatility of 9.78% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. 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.
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Volatility by Period
| GDLC | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.78% | 0.06% | +9.72% |
Volatility (6M)Calculated over the trailing 6-month period | 36.66% | 0.18% | +36.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.54% | 0.27% | +48.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.43% | 0.40% | +74.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.91% | 0.81% | +93.10% |
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 3.91%.
| 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 | 3.91% | 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 -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDLC has higher volatility (9.78%) compared to USFR (0.06%). In terms of maximum drawdown, GDLC dropped -94.14% vs USFR's -1.36%.
On 5-year performance, USFR leads with 3.66% vs 2.21% for GDLC. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USFR has performed better with a 3.66% return vs 2.21%. 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 3.91%, 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 (15.11 vs -0.70), 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.
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