GLNK vs. ETH

Last updated Jun 4, 2026

GLNK (Grayscale Chainlink Trust ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds from Grayscale. GLNK is passively managed, while ETH is actively managed. Over the past year, GLNK returned -59.50% vs -30.84% for ETH. A 0.54 correlation means they provide meaningful diversification when combined. GLNK charges 2.50%/yr vs 0.15%/yr for ETH.

Performance

GLNK vs. ETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Chainlink Trust ETF (GLNK) and Grayscale Ethereum Staking Mini ETF (ETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLNK achieves a -33.27% return, which is significantly higher than ETH's -38.95% return.

GLNK

• 1D: -3.84%
• 1M: -12.83%
• YTD: -33.27%
• 6M: -43.25%
• 1Y: -59.50%
• 3Y*: -10.96%
• 5Y*: —
• 10Y*: —

ETH

• 1D: -5.52%
• 1M: -23.42%
• YTD: -38.95%
• 6M: -42.17%
• 1Y: -30.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLNK vs. ETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GLNK Grayscale Chainlink Trust ETF	-33.27%	-87.10%	-6.14%
ETH Grayscale Ethereum Staking Mini ETF	-38.95%	-10.89%	-3.70%

Correlation

The correlation between GLNK and ETH is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	0.54

The correlation between GLNK and ETH shifts across timeframes, from 0.54 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GLNK vs. ETH — Risk / Return Rank

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

GLNK

GLNK Risk / Return Rank: 4
GLNK Sharpe Ratio Rank: 4
GLNK Sortino Ratio Rank: 5
GLNK Omega Ratio Rank: 5
GLNK Calmar Ratio Rank: 3
GLNK Martin Ratio Rank: 5

ETH

ETH Risk / Return Rank: 5
ETH Sharpe Ratio Rank: 5
ETH Sortino Ratio Rank: 6
ETH Omega Ratio Rank: 6
ETH Calmar Ratio Rank: 5
ETH Martin Ratio Rank: 5

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.

GLNK vs. ETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Chainlink Trust ETF (GLNK) and Grayscale Ethereum Staking Mini ETF (ETH). 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.

	GLNK	ETH	Difference
Sharpe ratio Return per unit of total volatility	-0.55	-0.45	-0.09
Sortino ratio Return per unit of downside risk	-0.42	-0.29	-0.13
Omega ratio Gain probability vs. loss probability	0.95	0.97	-0.02
Calmar ratio Return relative to maximum drawdown	-0.68	-0.50	-0.18
Martin ratio Return relative to average drawdown	-0.89	-0.82	-0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLNK vs. ETH - Sharpe Ratio Comparison

The current GLNK Sharpe Ratio is -0.55, which is comparable to the ETH Sharpe Ratio of -0.45. The chart below compares the historical Sharpe Ratios of GLNK and ETH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GLNK	ETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	-0.45	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	-0.41	+0.40

Drawdowns

GLNK vs. ETH - Drawdown Comparison

The maximum GLNK drawdown since its inception was -95.82%, which is greater than ETH's maximum drawdown of -64.01%. Use the drawdown chart below to compare losses from any high point for GLNK and ETH.

Drawdown Indicators

	GLNK	ETH	Difference
Max Drawdown Largest peak-to-trough decline	-95.82%	-64.01%	-31.81%
Max Drawdown (1Y) Largest decline over 1 year	-88.29%	-62.40%	-25.89%
Max Drawdown (3Y) Largest decline over 3 years	-95.82%	—	—
Current Drawdown Current decline from peak	-95.71%	-62.40%	-33.31%
Average Drawdown Average peak-to-trough decline	-55.70%	-32.58%	-23.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	66.68%	37.50%	+29.18%

Volatility

GLNK vs. ETH - Volatility Comparison

Grayscale Chainlink Trust ETF (GLNK) has a higher volatility of 15.43% compared to Grayscale Ethereum Staking Mini ETF (ETH) at 9.90%. This indicates that GLNK's price experiences larger fluctuations and is considered to be riskier than ETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLNK	ETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.43%	9.90%	+5.53%
Volatility (6M) Calculated over the trailing 6-month period	46.79%	46.02%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	109.57%	68.34%	+41.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	164.87%	72.26%	+92.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	164.87%	72.26%	+92.61%

GLNK vs. ETH - Expense Ratio Comparison

GLNK has a 2.50% expense ratio, which is higher than ETH's 0.15% expense ratio.

Dividends

GLNK vs. ETH - Dividend Comparison

Neither GLNK nor ETH has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GLNK and ETH in my portfolio?

GLNK and ETH have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLNK or ETH?

GLNK has higher volatility (15.43%) compared to ETH (9.90%). In terms of maximum drawdown, GLNK dropped -95.82% vs ETH's -64.01%.

Which ETF is better, GLNK or ETH?

On 1-year performance, ETH leads with -30.84% vs -59.50% for GLNK. On fees, ETH is cheaper at 0.15% per year. On volatility, ETH has been the lower-risk option at 9.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLNK or ETH?

Over the 1-year period, ETH has performed better with a -30.84% return vs -59.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLNK or ETH?

ETH is cheaper with a 0.15% expense ratio, compared with 2.50% for GLNK.

Which ETF pays a higher dividend yield, GLNK or ETH?

GLNK and ETH have nearly identical dividend yields, around 0.00%.

What is the main difference between GLNK and ETH?

Their fees differ too: 2.50% for GLNK and 0.15% for ETH.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.45 vs -0.55), 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.