GLIV vs. GDLC

Last updated Jun 30, 2026

GLIV (Grayscale Livepeer Trust (LPT)) and GDLC (Grayscale CoinDesk Crypto 5 ETF) are both Cryptocurrency funds from Grayscale. GLIV is actively managed, while GDLC is passively managed. Over the past 3 years, GLIV returned -32.91%/yr vs 49.45%/yr for GDLC. At a 0.28 correlation, their price movements are largely independent.

Performance

GLIV vs. GDLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Livepeer Trust (LPT) (GLIV) and Grayscale CoinDesk Crypto 5 ETF (GDLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GLIV having a -34.03% return and GDLC slightly lower at -34.49%.

GLIV

• 1D: 1.29%
• 1M: -19.90%
• YTD: -34.03%
• 6M: -34.31%
• 1Y: -73.83%
• 3Y*: -32.91%
• 5Y*: —
• 10Y*: —

GDLC

• 1D: 1.27%
• 1M: -17.54%
• YTD: -34.49%
• 6M: -34.13%
• 1Y: -42.89%
• 3Y*: 49.45%
• 5Y*: 4.05%
• 10Y*: —

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

GLIV vs. GDLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GLIV Grayscale Livepeer Trust (LPT)	-34.03%	-84.65%	-22.50%	723.05%	-81.31%
GDLC Grayscale CoinDesk Crypto 5 ETF	-34.49%	0.45%	136.98%	353.26%	-63.56%

Correlation

The correlation between GLIV and GDLC is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since May 27, 2022	0.28

The correlation between GLIV and GDLC shifts across timeframes, from 0.28 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GLIV vs. GDLC — Risk / Return Rank

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

GLIV

GLIV Risk / Return Rank: 4
GLIV Sharpe Ratio Rank: 5
GLIV Sortino Ratio Rank: 5
GLIV Omega Ratio Rank: 5
GLIV Calmar Ratio Rank: 2
GLIV Martin Ratio Rank: 4

GDLC

GDLC Risk / Return Rank: 3
GDLC Sharpe Ratio Rank: 3
GDLC Sortino Ratio Rank: 3
GDLC Omega Ratio Rank: 3
GDLC Calmar Ratio Rank: 3
GDLC Martin Ratio Rank: 3

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.

GLIV vs. GDLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Livepeer Trust (LPT) (GLIV) and Grayscale CoinDesk Crypto 5 ETF (GDLC). 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	GDLC	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-0.88	+0.28
Sortino ratio: Return per unit of downside risk	-0.73	-1.22	+0.50
Omega ratio: Gain probability vs. loss probability	0.92	0.86	+0.05
Calmar ratio: Return relative to maximum drawdown	-0.88	-0.75	-0.12
Martin ratio: Return relative to average drawdown	-1.21	-1.26	+0.05

GLIV vs. GDLC - Sharpe Ratio Comparison

The current GLIV Sharpe Ratio is -0.60, which is higher than the GDLC Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of GLIV and GDLC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GLIV vs. GDLC - Drawdown Comparison

The maximum GLIV drawdown since its inception was -97.65%, roughly equal to the maximum GDLC drawdown of -94.14%. Use the drawdown chart below to compare losses from any high point for GLIV and GDLC.

Drawdown Indicators

	GLIV	GDLC	Difference
Max Drawdown Largest peak-to-trough decline	-97.65%	-94.14%	-3.51%
Max Drawdown (1Y) Largest decline over 1 year	-84.40%	-57.05%	-27.35%
Max Drawdown (3Y) Largest decline over 3 years	-97.65%	-57.05%	-40.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-94.14%	—
Current Drawdown Current decline from peak	-97.47%	-57.86%	-39.61%
Average Drawdown Average peak-to-trough decline	-71.81%	-52.79%	-19.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.92%	34.11%	+26.81%

Volatility

GLIV vs. GDLC - Volatility Comparison

Grayscale Livepeer Trust (LPT) (GLIV) has a higher volatility of 24.08% compared to Grayscale CoinDesk Crypto 5 ETF (GDLC) at 14.31%. This indicates that GLIV's price experiences larger fluctuations and is considered to be riskier than GDLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLIV	GDLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.08%	14.31%	+9.77%
Volatility (6M) Calculated over the trailing 6-month period	71.59%	36.70%	+34.89%
Volatility (1Y) Calculated over the trailing 1-year period	124.52%	49.16%	+75.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	174.97%	73.51%	+101.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	174.97%	94.09%	+80.88%

Dividends

GLIV vs. GDLC - Dividend Comparison

Neither GLIV nor GDLC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GLIV and GDLC in my portfolio?

GLIV and GDLC have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLIV or GDLC?

GLIV has higher volatility (24.08%) compared to GDLC (14.31%). In terms of maximum drawdown, GLIV dropped -97.65% vs GDLC's -94.14%.

Which ETF is better, GLIV or GDLC?

On 3-year performance, GDLC leads with 49.45% vs -32.91% for GLIV. On volatility, GDLC has been the lower-risk option at 14.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLIV or GDLC?

Over the 3-year period, GDLC has performed better with a 49.45% return vs -32.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF pays a higher dividend yield, GLIV or GDLC?

GLIV and GDLC have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

GLIV currently has the higher Sharpe Ratio (-0.60 vs -0.88), 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.