GXLM vs. ZCSH
GXLM (Grayscale Stellar Lumens Trust (XLM)) and ZCSH (Grayscale Zcash Trust (ZEC)) are both Cryptocurrency funds from Grayscale. GXLM is actively managed, while ZCSH is passively managed. Over the past 3 years, GXLM returned -27.76%/yr vs 116.79%/yr for ZCSH. At a 0.34 correlation, their price movements are largely independent.
Performance
GXLM vs. ZCSH - Performance Comparison
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Returns By Period
In the year-to-date period, GXLM achieves a 6.12% return, which is significantly higher than ZCSH's -14.12% return.
GXLM
- 1D
- -0.10%
- 1M
- -24.43%
- YTD
- 6.12%
- 6M
- 1.93%
- 1Y
- 3.00%
- 3Y*
- -27.76%
- 5Y*
- —
- 10Y*
- —
ZCSH
- 1D
- 3.05%
- 1M
- -27.73%
- YTD
- -14.12%
- 6M
- -22.85%
- 1Y
- 658.64%
- 3Y*
- 116.79%
- 5Y*
- —
- 10Y*
- —
GXLM vs. ZCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GXLM Grayscale Stellar Lumens Trust (XLM) | 6.12% | -50.11% | 15.60% | 532.21% | -87.63% | -42.77% |
ZCSH Grayscale Zcash Trust (ZEC) | -14.12% | 446.78% | 96.92% | 65.91% | -86.30% | -48.60% |
Correlation
The correlation between GXLM and ZCSH is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.34 |
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Return for Risk
GXLM vs. ZCSH — Risk / Return Rank
GXLM
ZCSH
GXLM vs. ZCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Stellar Lumens Trust (XLM) (GXLM) and Grayscale Zcash Trust (ZEC) (ZCSH). 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.
| GXLM | ZCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.42 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.04 | 9.55 | -9.51 |
| Martin ratioReturn relative to average drawdown | 0.06 | 17.82 | -17.76 |
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Drawdowns
GXLM vs. ZCSH - Drawdown Comparison
The maximum GXLM drawdown since its inception was -94.01%, roughly equal to the maximum ZCSH drawdown of -93.73%. Use the drawdown chart below to compare losses from any high point for GXLM and ZCSH.
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Drawdown Indicators
| GXLM | ZCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.01% | -93.73% | -0.28% |
Max Drawdown (1Y)Largest decline over 1 year | -71.88% | -69.62% | -2.26% |
Max Drawdown (3Y)Largest decline over 3 years | -78.19% | -71.90% | -6.29% |
Current DrawdownCurrent decline from peak | -76.54% | -48.78% | -27.76% |
Average DrawdownAverage peak-to-trough decline | -70.43% | -73.93% | +3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 52.28% | 37.24% | +15.04% |
Volatility
GXLM vs. ZCSH - Volatility Comparison
The current volatility for Grayscale Stellar Lumens Trust (XLM) (GXLM) is 34.14%, while Grayscale Zcash Trust (ZEC) (ZCSH) has a volatility of 63.24%. This indicates that GXLM experiences smaller price fluctuations and is considered to be less risky than ZCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GXLM | ZCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.14% | 63.24% | -29.10% |
Volatility (6M)Calculated over the trailing 6-month period | 61.53% | 106.64% | -45.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 104.03% | 174.09% | -70.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 148.38% | 138.14% | +10.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 148.38% | 138.14% | +10.24% |
Dividends
GXLM vs. ZCSH - Dividend Comparison
Neither GXLM nor ZCSH has paid dividends to shareholders.
Frequently Asked Questions
GXLM and ZCSH have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZCSH has higher volatility (63.24%) compared to GXLM (34.14%). In terms of maximum drawdown, GXLM dropped -94.01% vs ZCSH's -93.73%.
On 3-year performance, ZCSH leads with 116.79% vs -27.76% for GXLM. On volatility, GXLM has been the lower-risk option at 34.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ZCSH has performed better with a 116.79% return vs -27.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GXLM and ZCSH have nearly identical dividend yields, around 0.00%.
ZCSH currently has the higher Sharpe Ratio (3.83 vs 0.03), 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.
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