GLIV vs. BTRN
GLIV (Grayscale Livepeer Trust (LPT)) and BTRN (Global X Bitcoin Trend Strategy ETF) are both Cryptocurrency funds. GLIV is actively managed, while BTRN is passively managed. Over the past year, GLIV returned -80.75% vs -23.90% for BTRN. At a 0.27 correlation, their price movements are largely independent.
Performance
GLIV vs. BTRN - Performance Comparison
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Returns By Period
In the year-to-date period, GLIV achieves a -35.29% return, which is significantly lower than BTRN's -9.44% return.
GLIV
- 1D
- -5.52%
- 1M
- -11.49%
- 6M
- -45.94%
- YTD
- -35.29%
- 1Y
- -80.75%
- 3Y*
- -30.05%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -40.21%
BTRN
- 1D
- 0.73%
- 1M
- 0.20%
- 6M
- -11.62%
- YTD
- -9.44%
- 1Y
- -23.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.83%
GLIV vs. BTRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLIV Grayscale Livepeer Trust (LPT) | -35.29% | -84.65% | -46.57% |
BTRN Global X Bitcoin Trend Strategy ETF | -9.44% | 4.89% | 3.25% |
Correlation
The correlation between GLIV and BTRN is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024 | 0.27 |
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Return for Risk
GLIV vs. BTRN — Risk / Return Rank
GLIV
BTRN
GLIV vs. BTRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Livepeer Trust (LPT) (GLIV) and Global X Bitcoin Trend Strategy ETF (BTRN). 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.
| GLIV | BTRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.74 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.92 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.26 | -1.43 | +0.17 |
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Drawdowns
GLIV vs. BTRN - Drawdown Comparison
The maximum GLIV drawdown since its inception was -97.65%, which is greater than BTRN's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for GLIV and BTRN.
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Drawdown Indicators
| GLIV | BTRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.65% | -36.97% | -60.68% |
Max Drawdown (1Y)Largest decline over 1 year | -84.40% | -26.03% | -58.37% |
Max Drawdown (3Y)Largest decline over 3 years | -97.65% | — | — |
Current DrawdownCurrent decline from peak | -97.52% | -25.42% | -72.10% |
Average DrawdownAverage peak-to-trough decline | -72.16% | -15.00% | -57.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.96% | 16.77% | +47.19% |
Volatility
GLIV vs. BTRN - Volatility Comparison
Grayscale Livepeer Trust (LPT) (GLIV) has a higher volatility of 19.08% compared to Global X Bitcoin Trend Strategy ETF (BTRN) at 2.25%. This indicates that GLIV's price experiences larger fluctuations and is considered to be riskier than BTRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLIV | BTRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.08% | 2.25% | +16.83% |
Volatility (6M)Calculated over the trailing 6-month period | 70.58% | 9.99% | +60.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 120.81% | 17.16% | +103.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 173.88% | 30.16% | +143.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 173.88% | 30.16% | +143.72% |
Dividends
GLIV vs. BTRN - Dividend Comparison
GLIV has not paid dividends to shareholders, while BTRN's dividend yield for the trailing twelve months is around 31.00%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | 31.00% | 27.76% | 2.56% |
GLIV Grayscale Livepeer Trust (LPT) | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLIV and BTRN have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLIV has higher volatility (19.08%) compared to BTRN (2.25%). In terms of maximum drawdown, GLIV dropped -97.65% vs BTRN's -36.97%.
On 1-year performance, BTRN leads with -23.90% vs -80.75% for GLIV. On volatility, BTRN has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BTRN has performed better with a -23.90% return vs -80.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BTRN has the higher dividend yield at 31.00%, compared with 0.00% for GLIV.
They also come from different issuers: Grayscale and Global X.
GLIV currently has the higher Sharpe Ratio (-0.67 vs -1.40), 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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