GFOF vs. MNRS

Last updated Jun 4, 2026

GFOF (Grayscale Future of Finance ETF) and MNRS (Grayscale Bitcoin Miners ETF) are both Blockchain funds from Grayscale - GFOF tracks the Bloomberg Grayscale Future of Finance Index while MNRS tracks the Indxx Bitcoin Miners Index. Both are passively managed. GFOF charges 0.70%/yr vs 0.59%/yr for MNRS.

Performance

GFOF vs. MNRS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Future of Finance ETF (GFOF) and Grayscale Bitcoin Miners ETF (MNRS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GFOF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MNRS

• 1D: -2.00%
• 1M: 35.90%
• YTD: 66.15%
• 6M: 40.56%
• 1Y: 129.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GFOF vs. MNRS - Yearly Performance Comparison

	2026 (YTD)	2025
GFOF Grayscale Future of Finance ETF	0.00%	0.00%
MNRS Grayscale Bitcoin Miners ETF	66.15%	12.66%

Return for Risk

GFOF vs. MNRS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MNRS

MNRS Risk / Return Rank: 45
MNRS Sharpe Ratio Rank: 55
MNRS Sortino Ratio Rank: 49
MNRS Omega Ratio Rank: 44
MNRS Calmar Ratio Rank: 47
MNRS Martin Ratio Rank: 31

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.

GFOF vs. MNRS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Future of Finance ETF (GFOF) and Grayscale Bitcoin Miners ETF (MNRS). 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.

Sharpe Ratios by Period

	GFOF	MNRS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.85	—

Drawdowns

Drawdown Indicators

	GFOF	MNRS	Difference
Max Drawdown Largest peak-to-trough decline	—	-56.70%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-56.70%	—
Current Drawdown Current decline from peak	—	-8.42%	—
Average Drawdown Average peak-to-trough decline	—	-23.73%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	28.93%	—

Volatility

Volatility by Period

	GFOF	MNRS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	52.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	70.28%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	70.50%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	70.50%	—

GFOF vs. MNRS - Expense Ratio Comparison

GFOF has a 0.70% expense ratio, which is higher than MNRS's 0.59% expense ratio.

Dividends

GFOF vs. MNRS - Dividend Comparison

GFOF has not paid dividends to shareholders, while MNRS's dividend yield for the trailing twelve months is around 0.33%.

Position	TTM	2025	2024	2023
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%
MNRS Grayscale Bitcoin Miners ETF	0.33%	0.54%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, GFOF or MNRS?

On fees, MNRS is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GFOF or MNRS?

MNRS is cheaper with a 0.59% expense ratio, compared with 0.70% for GFOF.

Which ETF pays a higher dividend yield, GFOF or MNRS?

MNRS has the higher dividend yield at 0.33%, compared with 0.00% for GFOF.

What is the main difference between GFOF and MNRS?

GFOF tracks Bloomberg Grayscale Future of Finance Index, while MNRS tracks Indxx Bitcoin Miners Index. Their fees differ too: 0.70% for GFOF and 0.59% for MNRS.