GLNK vs. GDLC

Last updated Jun 25, 2026

GLNK (Grayscale Chainlink Trust ETF) and GDLC (Grayscale CoinDesk Crypto 5 ETF) are both Cryptocurrency funds from Grayscale - GLNK tracks the Chainlink (LINK) while GDLC tracks the CoinDesk 5 Index. Both are passively managed. Over the past 3 years, GLNK returned -13.05%/yr vs 47.71%/yr for GDLC. At a 0.34 correlation, their price movements are largely independent. GLNK charges 2.50%/yr vs 0.59%/yr for GDLC.

Performance

GLNK vs. GDLC - Performance Comparison

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

Returns By Period

In the year-to-date period, GLNK achieves a -41.16% return, which is significantly lower than GDLC's -35.19% return.

GLNK

• 1D: -4.61%
• 1M: -23.60%
• YTD: -41.16%
• 6M: -40.59%
• 1Y: -64.29%
• 3Y*: -13.05%
• 5Y*: —
• 10Y*: —

GDLC

• 1D: -3.98%
• 1M: -20.75%
• YTD: -35.19%
• 6M: -34.92%
• 1Y: -42.90%
• 3Y*: 47.71%
• 5Y*: 5.94%
• 10Y*: —

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

GLNK vs. GDLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GLNK Grayscale Chainlink Trust ETF	-41.16%	-87.10%	38.45%	840.06%	-18.87%
GDLC Grayscale CoinDesk Crypto 5 ETF	-35.19%	0.45%	136.98%	353.26%	-66.87%

Correlation

The correlation between GLNK and GDLC is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since May 19, 2022	0.34

Over the past year, GLNK and GDLC have become more correlated (0.69) than their long-term average of 0.34, meaning their price movements have been converging.

Return for Risk

GLNK vs. GDLC — 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

GDLC

GDLC Risk / Return Rank: 3
GDLC Sharpe Ratio Rank: 2
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.

GLNK vs. GDLC - Risk-Adjusted Trends Comparison

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

	GLNK	GDLC	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-0.88	+0.28
Sortino ratio: Return per unit of downside risk	-0.62	-1.23	+0.61
Omega ratio: Gain probability vs. loss probability	0.93	0.86	+0.07
Calmar ratio: Return relative to maximum drawdown	-0.72	-0.76	+0.04
Martin ratio: Return relative to average drawdown	-0.92	-1.28	+0.36

GLNK vs. GDLC - Sharpe Ratio Comparison

The current GLNK 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 GLNK 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

GLNK vs. GDLC - Drawdown Comparison

The maximum GLNK drawdown since its inception was -96.22%, roughly equal to the maximum GDLC drawdown of -94.14%. Use the drawdown chart below to compare losses from any high point for GLNK and GDLC.

Drawdown Indicators

	GLNK	GDLC	Difference
Max Drawdown Largest peak-to-trough decline	-96.22%	-94.14%	-2.08%
Max Drawdown (1Y) Largest decline over 1 year	-89.40%	-56.55%	-32.85%
Max Drawdown (3Y) Largest decline over 3 years	-96.22%	-56.55%	-39.67%
Max Drawdown (5Y) Largest decline over 5 years	—	-94.14%	—
Current Drawdown Current decline from peak	-96.22%	-58.31%	-37.91%
Average Drawdown Average peak-to-trough decline	-56.20%	-52.78%	-3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	69.80%	33.55%	+36.25%

Volatility

GLNK vs. GDLC - Volatility Comparison

Grayscale Chainlink Trust ETF (GLNK) has a higher volatility of 19.39% compared to Grayscale CoinDesk Crypto 5 ETF (GDLC) at 14.07%. This indicates that GLNK'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

	GLNK	GDLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.39%	14.07%	+5.32%
Volatility (6M) Calculated over the trailing 6-month period	47.13%	36.63%	+10.50%
Volatility (1Y) Calculated over the trailing 1-year period	107.93%	49.16%	+58.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	163.91%	73.77%	+90.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	163.91%	94.17%	+69.74%

GLNK vs. GDLC - Expense Ratio Comparison

GLNK has a 2.50% expense ratio, which is higher than GDLC's 0.59% expense ratio.

Dividends

GLNK vs. GDLC - Dividend Comparison

Neither GLNK nor GDLC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GLNK and GDLC in my portfolio?

GLNK and GDLC have a correlation of 0.69, 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 GDLC?

GLNK has higher volatility (19.39%) compared to GDLC (14.07%). In terms of maximum drawdown, GLNK dropped -96.22% vs GDLC's -94.14%.

Which ETF is better, GLNK or GDLC?

On 3-year performance, GDLC leads with 47.71% vs -13.05% for GLNK. On fees, GDLC is cheaper at 0.59% per year. On volatility, GDLC has been the lower-risk option at 14.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLNK or GDLC?

Over the 3-year period, GDLC has performed better with a 47.71% return vs -13.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLNK or GDLC?

GDLC is cheaper with a 0.59% expense ratio, compared with 2.50% for GLNK.

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

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

What is the main difference between GLNK and GDLC?

GLNK tracks Chainlink (LINK), while GDLC tracks CoinDesk 5 Index. Their fees differ too: 2.50% for GLNK and 0.59% for GDLC.

Which has better risk-adjusted returns?

GLNK 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.