GLIV vs. ZCSH
GLIV (Grayscale Livepeer Trust (LPT)) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds from Grayscale. GLIV is actively managed, while ZCSH is passively managed. Over the past 3 years, GLIV returned -32.91%/yr vs 116.79%/yr for ZCSH. At a 0.22 correlation, their price movements are largely independent.
Performance
GLIV vs. ZCSH - Performance Comparison
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Returns By Period
In the year-to-date period, GLIV achieves a -34.03% return, which is significantly lower than ZCSH's -14.12% return.
GLIV
- 1D
- 1.29%
- 1M
- -19.90%
- YTD
- -34.03%
- 6M
- -34.31%
- 1Y
- -73.83%
- 3Y*
- -32.91%
- 5Y*
- —
- 10Y*
- —
ZCSH
- 1D
- 3.05%
- 1M
- -27.73%
- YTD
- -14.12%
- 6M
- -22.85%
- 1Y
- 658.64%
- 3Y*
- 116.79%
- 5Y*
- —
- 10Y*
- —
GLIV vs. ZCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GLIV Grayscale Livepeer Trust (LPT) | -34.03% | -84.65% | -22.50% | 723.05% | -81.31% |
ZCSH Grayscale Zcash Trust (ZEC) | -14.12% | 446.78% | 96.92% | 65.91% | -80.44% |
Correlation
The correlation between GLIV and ZCSH is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since May 27, 2022 | 0.22 |
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Return for Risk
GLIV vs. ZCSH — Risk / Return Rank
GLIV
ZCSH
GLIV vs. ZCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Livepeer Trust (LPT) (GLIV) and Grayscale Zcash Trust (ZEC) (ZCSH). 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 | ZCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.42 | ||
| Sortino ratioReturn per unit of downside risk | -4.24 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.42 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 9.55 | -10.43 |
| Martin ratioReturn relative to average drawdown | -1.21 | 17.82 | -19.03 |
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Drawdowns
GLIV vs. ZCSH - Drawdown Comparison
The maximum GLIV drawdown since its inception was -97.65%, roughly equal to the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for GLIV and ZCSH.
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Drawdown Indicators
| GLIV | ZCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.65% | -93.73% | -3.92% |
Max Drawdown (1Y)Largest decline over 1 year | -84.40% | -69.62% | -14.78% |
Max Drawdown (3Y)Largest decline over 3 years | -97.65% | -71.90% | -25.75% |
Current DrawdownCurrent decline from peak | -97.47% | -48.78% | -48.69% |
Average DrawdownAverage peak-to-trough decline | -71.81% | -73.93% | +2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.92% | 37.24% | +23.68% |
Volatility
GLIV vs. ZCSH - Volatility Comparison
The current volatility for Grayscale Livepeer Trust (LPT) (GLIV) is 24.08%, while Grayscale Zcash Trust (ZEC) (ZCSH) has a volatility of 63.24%. This indicates that GLIV experiences smaller price fluctuations and is considered to be less risky than ZCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLIV | ZCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.08% | 63.24% | -39.16% |
Volatility (6M)Calculated over the trailing 6-month period | 71.59% | 106.64% | -35.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 124.52% | 174.09% | -49.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 174.97% | 138.14% | +36.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 174.97% | 138.14% | +36.83% |
Dividends
GLIV vs. ZCSH - Dividend Comparison
Neither GLIV nor ZCSH has paid dividends to shareholders.
Frequently Asked Questions
GLIV and ZCSH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZCSH has higher volatility (63.24%) compared to GLIV (24.08%). In terms of maximum drawdown, GLIV dropped -97.65% vs ZCSH's -93.73%.
On 3-year performance, ZCSH leads with 116.79% vs -32.91% for GLIV. On volatility, GLIV has been the lower-risk option at 24.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ZCSH has performed better with a 116.79% return vs -32.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLIV and ZCSH have nearly identical dividend yields, around 0.00%.
ZCSH currently has the higher Sharpe Ratio (3.83 vs -0.60), 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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