GDOG vs. BTCC
GDOG (Grayscale Dogecoin Trust ETF) and BTCC (Grayscale Bitcoin Covered Call ETF) are both Cryptocurrency funds from Grayscale. GDOG is passively managed, while BTCC is actively managed. A 0.75 correlation means they provide meaningful diversification when combined. GDOG charges 0.35%/yr vs 0.66%/yr for BTCC.
Performance
GDOG vs. BTCC - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with GDOG having a -21.87% return and BTCC slightly higher at -20.81%.
GDOG
- 1D
- -2.62%
- 1M
- -17.02%
- YTD
- -21.87%
- 6M
- -39.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCC
- 1D
- -2.53%
- 1M
- -15.87%
- YTD
- -20.81%
- 6M
- -22.94%
- 1Y
- -33.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GDOG vs. BTCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GDOG Grayscale Dogecoin Trust ETF | -21.87% | -23.70% |
BTCC Grayscale Bitcoin Covered Call ETF | -20.81% | 1.87% |
Correlation
The correlation between GDOG and BTCC is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | 0.75 |
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Return for Risk
GDOG vs. BTCC — Risk / Return Rank
GDOG
BTCC
GDOG vs. BTCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Dogecoin Trust ETF (GDOG) and Grayscale Bitcoin Covered Call ETF (BTCC). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| GDOG | BTCC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -1.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.86 | -0.72 | -0.14 |
Drawdowns
GDOG vs. BTCC - Drawdown Comparison
The maximum GDOG drawdown since its inception was -42.91%, roughly equal to the maximum BTCC drawdown of -44.40%. Use the drawdown chart below to compare losses from any high point for GDOG and BTCC.
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Drawdown Indicators
| GDOG | BTCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.91% | -44.40% | +1.49% |
Max Drawdown (1Y)Largest decline over 1 year | — | -44.40% | — |
Current DrawdownCurrent decline from peak | -41.16% | -39.44% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -28.48% | -15.57% | -12.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 22.87% | — |
Volatility
GDOG vs. BTCC - Volatility Comparison
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Volatility by Period
| GDOG | BTCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.70% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 27.70% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 73.98% | 32.92% | +41.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.98% | 31.68% | +42.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.98% | 31.68% | +42.30% |
GDOG vs. BTCC - Expense Ratio Comparison
GDOG has a 0.35% expense ratio, which is lower than BTCC's 0.66% expense ratio.
Dividends
GDOG vs. BTCC - Dividend Comparison
GDOG has not paid dividends to shareholders, while BTCC's dividend yield for the trailing twelve months is around 105.03%.
| Position | TTM | 2025 |
|---|---|---|
BTCC Grayscale Bitcoin Covered Call ETF | 105.03% | 63.86% |
GDOG Grayscale Dogecoin Trust ETF | 0.00% | 0.00% |
Frequently Asked Questions
GDOG and BTCC have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GDOG is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GDOG is cheaper with a 0.35% expense ratio, compared with 0.66% for BTCC.
BTCC has the higher dividend yield at 105.03%, compared with 0.00% for GDOG.
Their fees differ too: 0.35% for GDOG and 0.66% for BTCC.
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