GLNK vs. NFXS

Last updated Jul 15, 2026

GLNK (Grayscale Chainlink Trust ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - GLNK is a Cryptocurrency fund tracking the Chainlink (LINK), while NFXS is a Inverse Equities fund actively managed by Direxion. GLNK is passively managed, while NFXS is actively managed. Over the past year, GLNK returned -79.50% vs 63.54% for NFXS. At a correlation of -0.15, they often move in opposite directions. GLNK charges 2.50%/yr vs 1.03%/yr for NFXS.

Performance

GLNK vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Chainlink Trust ETF (GLNK) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLNK achieves a -32.44% return, which is significantly lower than NFXS's 22.75% return.

GLNK

• 1D: 4.99%
• 1M: 5.59%
• 6M: -39.87%
• YTD: -32.44%
• 1Y: -79.50%
• 3Y*: -21.04%
• 5Y*: —
• 10Y*: —

NFXS

• 1D: 0.53%
• 1M: 8.48%
• 6M: 17.96%
• YTD: 22.75%
• 1Y: 63.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLNK vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GLNK Grayscale Chainlink Trust ETF	-32.44%	-87.10%	38.48%
NFXS Direxion Daily NFLX Bear 1X Shares	22.75%	-8.56%	-21.49%

Correlation

The correlation between GLNK and NFXS is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.20
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	-0.15

Return for Risk

GLNK vs. NFXS — 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: 3
GLNK Sortino Ratio Rank: 2
GLNK Omega Ratio Rank: 2
GLNK Calmar Ratio Rank: 2
GLNK Martin Ratio Rank: 4

NFXS

NFXS Risk / Return Rank: 61
NFXS Sharpe Ratio Rank: 73
NFXS Sortino Ratio Rank: 67
NFXS Omega Ratio Rank: 76
NFXS Calmar Ratio Rank: 50
NFXS Martin Ratio Rank: 43

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. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Chainlink Trust ETF (GLNK) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	1.86	-2.63
Sortino ratio: Return per unit of downside risk	-1.44	2.44	-3.89
Omega ratio: Gain probability vs. loss probability	0.83	1.35	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.89	2.04	-2.93
Martin ratio: Return relative to average drawdown	-1.09	5.54	-6.64

GLNK vs. NFXS - Sharpe Ratio Comparison

The current GLNK Sharpe Ratio is -0.78, which is lower than the NFXS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of GLNK and NFXS, 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. NFXS - Drawdown Comparison

The maximum GLNK drawdown since its inception was -96.25%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for GLNK and NFXS.

Drawdown Indicators

	GLNK	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-96.25%	-50.37%	-45.88%
Max Drawdown (1Y) Largest decline over 1 year	-89.50%	-31.31%	-58.19%
Max Drawdown (3Y) Largest decline over 3 years	-96.25%	—	—
Current Drawdown Current decline from peak	-95.66%	-13.91%	-81.75%
Average Drawdown Average peak-to-trough decline	-56.71%	-31.38%	-25.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	72.66%	11.49%	+61.17%

Volatility

GLNK vs. NFXS - Volatility Comparison

Grayscale Chainlink Trust ETF (GLNK) has a higher volatility of 14.66% compared to Direxion Daily NFLX Bear 1X Shares (NFXS) at 11.97%. This indicates that GLNK's price experiences larger fluctuations and is considered to be riskier than NFXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLNK	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.66%	11.97%	+2.69%
Volatility (6M) Calculated over the trailing 6-month period	47.08%	27.56%	+19.52%
Volatility (1Y) Calculated over the trailing 1-year period	104.06%	34.46%	+69.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	162.94%	34.79%	+128.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	162.94%	34.79%	+128.15%

GLNK vs. NFXS - Expense Ratio Comparison

GLNK has a 2.50% expense ratio, which is higher than NFXS's 1.03% expense ratio.

Dividends

GLNK vs. NFXS - Dividend Comparison

GLNK has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.89%.

Position	TTM	2025	2024
GLNK Grayscale Chainlink Trust ETF	0.00%	0.00%	0.00%
NFXS Direxion Daily NFLX Bear 1X Shares	2.89%	3.53%	0.87%

Frequently Asked Questions

Can I hold both GLNK and NFXS in my portfolio?

GLNK and NFXS have a correlation of -0.20, 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 NFXS?

GLNK has higher volatility (14.66%) compared to NFXS (11.97%). In terms of maximum drawdown, GLNK dropped -96.25% vs NFXS's -50.37%.

Which ETF is better, GLNK or NFXS?

On 1-year performance, NFXS leads with 63.54% vs -79.50% for GLNK. On fees, NFXS is cheaper at 1.03% per year. On volatility, NFXS has been the lower-risk option at 11.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLNK or NFXS?

Over the 1-year period, NFXS has performed better with a 63.54% return vs -79.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLNK or NFXS?

NFXS is cheaper with a 1.03% expense ratio, compared with 2.50% for GLNK.

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

NFXS has the higher dividend yield at 2.89%, compared with 0.00% for GLNK.

What is the main difference between GLNK and NFXS?

GLNK is categorized as Cryptocurrency, while NFXS is Inverse Equities. They also come from different issuers: Grayscale and Direxion. Their fees differ too: 2.50% for GLNK and 1.03% for NFXS.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (1.86 vs -0.78), 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.