GLNK vs. ETHE

Last updated Apr 2, 2026

Compare and contrast key facts about Grayscale Chainlink Trust ETF (GLNK) and Grayscale Ethereum Trust ETF (ETHE).

GLNK and ETHE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLNK is a passively managed fund by Grayscale that tracks the performance of the Chainlink (LINK). It was launched on Feb 26, 2021. ETHE is a passively managed fund by Grayscale that tracks the performance of the CoinDesk Ether Price Index . It was launched on Dec 14, 2017. Both GLNK and ETHE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GLNK vs. ETHE - Performance Comparison

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

GLNK vs. ETHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GLNK Grayscale Chainlink Trust ETF	-26.38%	-87.10%	38.45%	840.06%	-17.85%
ETHE Grayscale Ethereum Trust ETF	-30.66%	-13.03%	44.14%	308.40%	-64.42%

Returns By Period

In the year-to-date period, GLNK achieves a -26.38% return, which is significantly higher than ETHE's -30.66% return.

GLNK

• 1D: 3.22%
• 1M: -0.12%
• YTD: -26.38%
• 6M: -70.84%
• 1Y: -73.49%
• 3Y*: -7.70%
• 5Y*: —
• 10Y*: —

ETHE

• 1D: -3.61%
• 1M: 4.35%
• YTD: -30.66%
• 6M: -54.38%
• 1Y: 6.02%
• 3Y*: 25.20%
• 5Y*: -2.15%
• 10Y*: —

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

GLNK vs. ETHE - Expense Ratio Comparison

Both GLNK and ETHE have an expense ratio of 2.50%.

GLNK

Grayscale Chainlink Trust ETF

ETHE

Grayscale Ethereum Trust ETF

Return for Risk

GLNK vs. ETHE — Risk / Return Rank

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

GLNK

GLNK Risk / Return Rank: 3
GLNK Sharpe Ratio Rank: 4
GLNK Sortino Ratio Rank: 5
GLNK Omega Ratio Rank: 5
GLNK Calmar Ratio Rank: 1
GLNK Martin Ratio Rank: 3

ETHE

ETHE Risk / Return Rank: 16
ETHE Sharpe Ratio Rank: 13
ETHE Sortino Ratio Rank: 22
ETHE Omega Ratio Rank: 19
ETHE Calmar Ratio Rank: 13
ETHE Martin Ratio Rank: 12

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. ETHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Chainlink Trust ETF (GLNK) and Grayscale Ethereum Trust ETF (ETHE). 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	ETHE	Difference
Sharpe ratio Return per unit of total volatility	-0.55	0.08	-0.63
Sortino ratio Return per unit of downside risk	-0.48	0.69	-1.16
Omega ratio Gain probability vs. loss probability	0.95	1.08	-0.13
Calmar ratio Return relative to maximum drawdown	-0.82	0.10	-0.93
Martin ratio Return relative to average drawdown	-1.19	0.20	-1.39
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. ETHE - Sharpe Ratio Comparison

The current GLNK Sharpe Ratio is -0.55, which is lower than the ETHE Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of GLNK and ETHE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GLNK	ETHE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	0.08	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.08	-0.07

Correlation

The correlation between GLNK and ETHE is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GLNK vs. ETHE - Dividend Comparison

GLNK has not paid dividends to shareholders, while ETHE's dividend yield for the trailing twelve months is around 0.77%.

	TTM
GLNK Grayscale Chainlink Trust ETF	0.00%
ETHE Grayscale Ethereum Trust ETF	0.77%

Drawdowns

GLNK vs. ETHE - Drawdown Comparison

The maximum GLNK drawdown since its inception was -95.82%, roughly equal to the maximum ETHE drawdown of -96.26%. Use the drawdown chart below to compare losses from any high point for GLNK and ETHE.

Drawdown Indicators

	GLNK	ETHE	Difference
Max Drawdown Largest peak-to-trough decline	-95.82%	-96.26%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-88.29%	-61.89%	-26.40%
Max Drawdown (5Y) Largest decline over 5 years	—	-89.85%	—
Current Drawdown Current decline from peak	-95.27%	-73.78%	-21.49%
Average Drawdown Average peak-to-trough decline	-53.92%	-72.24%	+18.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	61.11%	31.02%	+30.09%

Volatility

GLNK vs. ETHE - Volatility Comparison

Grayscale Chainlink Trust ETF (GLNK) and Grayscale Ethereum Trust ETF (ETHE) have volatilities of 17.91% and 17.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLNK	ETHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.91%	17.44%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	72.33%	53.47%	+18.86%
Volatility (1Y) Calculated over the trailing 1-year period	134.57%	75.65%	+58.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.26%	85.10%	+83.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.26%	194.07%	-25.81%