GPZ vs. GDLC

Last updated Jun 4, 2026

GPZ (VanEck Alternative Asset Manager ETF) and GDLC (Grayscale CoinDesk Crypto 5 ETF) are both exchange-traded funds - GPZ is a Financials Equities fund tracking the MarketVector Alternative Asset Managers Index, while GDLC is a Cryptocurrency fund tracking the CoinDesk 5 Index. Both are passively managed. At a 0.43 correlation, their price movements are largely independent. GPZ charges 0.40%/yr vs 0.59%/yr for GDLC.

Performance

GPZ vs. GDLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Alternative Asset Manager ETF (GPZ) 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, GPZ achieves a -19.37% return, which is significantly higher than GDLC's -28.93% return.

GPZ

• 1D: -4.70%
• 1M: -6.69%
• YTD: -19.37%
• 6M: -16.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDLC

• 1D: -3.29%
• 1M: -18.37%
• YTD: -28.93%
• 6M: -33.67%
• 1Y: -33.81%
• 3Y*: 64.48%
• 5Y*: 2.21%
• 10Y*: —

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

GPZ vs. GDLC - Yearly Performance Comparison

	2026 (YTD)	2025
GPZ VanEck Alternative Asset Manager ETF	-19.37%	9.43%
GDLC Grayscale CoinDesk Crypto 5 ETF	-28.93%	-5.76%

Correlation

The correlation between GPZ and GDLC is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.43

Return for Risk

GPZ vs. GDLC — Risk / Return Rank

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

GDLC

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

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.

GPZ vs. GDLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Alternative Asset Manager ETF (GPZ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GPZ	GDLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.70	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	0.29	-0.73

Drawdowns

GPZ vs. GDLC - Drawdown Comparison

The maximum GPZ drawdown since its inception was -31.72%, smaller than the maximum GDLC drawdown of -94.14%. Use the drawdown chart below to compare losses from any high point for GPZ and GDLC.

Drawdown Indicators

	GPZ	GDLC	Difference
Max Drawdown Largest peak-to-trough decline	-31.72%	-94.14%	+62.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.91%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-52.91%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-94.14%	—
Current Drawdown Current decline from peak	-25.93%	-54.28%	+28.35%
Average Drawdown Average peak-to-trough decline	-11.74%	-52.73%	+40.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	31.04%	—

Volatility

Volatility by Period

	GPZ	GDLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.33%	48.54%	-21.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.33%	74.43%	-47.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.33%	93.91%	-66.58%

GPZ vs. GDLC - Expense Ratio Comparison

GPZ has a 0.40% expense ratio, which is lower than GDLC's 0.59% expense ratio.

Dividends

GPZ vs. GDLC - Dividend Comparison

GPZ's dividend yield for the trailing twelve months is around 1.03%, while GDLC has not paid dividends to shareholders.

Position	TTM	2025
GDLC Grayscale CoinDesk Crypto 5 ETF	0.00%	0.00%
GPZ VanEck Alternative Asset Manager ETF	1.03%	0.83%

Frequently Asked Questions

Can I hold both GPZ and GDLC in my portfolio?

GPZ and GDLC have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GPZ or GDLC?

On fees, GPZ is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GPZ or GDLC?

GPZ is cheaper with a 0.40% expense ratio, compared with 0.59% for GDLC.

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

GPZ has the higher dividend yield at 1.03%, compared with 0.00% for GDLC.

What is the main difference between GPZ and GDLC?

GPZ is categorized as Financials Equities, while GDLC is Cryptocurrency. GPZ tracks MarketVector Alternative Asset Managers Index, while GDLC tracks CoinDesk 5 Index. They also come from different issuers: VanEck and Grayscale. Their fees differ too: 0.40% for GPZ and 0.59% for GDLC.