HERO vs. GDLC
HERO (Global X Video Games & Esports ETF) and GDLC (Grayscale CoinDesk Crypto 5 ETF) are both exchange-traded funds - HERO is a Large Cap Growth Equities fund tracking the Solactive Video Games & Esports Index, while GDLC is a Cryptocurrency fund tracking the CoinDesk 5 Index. Both are passively managed. Over the past 5 years, HERO returned -3.62%/yr vs 2.21%/yr for GDLC. At a 0.30 correlation, their price movements are largely independent. HERO charges 0.50%/yr vs 0.59%/yr for GDLC.
Performance
HERO vs. GDLC - Performance Comparison
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Returns By Period
In the year-to-date period, HERO achieves a -13.80% return, which is significantly higher than GDLC's -28.93% return.
HERO
- 1D
- -2.41%
- 1M
- -2.63%
- YTD
- -13.80%
- 6M
- -16.14%
- 1Y
- -12.41%
- 3Y*
- 9.75%
- 5Y*
- -3.62%
- 10Y*
- —
GDLC
- 1D
- -3.29%
- 1M
- -18.37%
- YTD
- -28.93%
- 6M
- -33.67%
- 1Y
- -33.81%
- 3Y*
- 64.48%
- 5Y*
- 2.21%
- 10Y*
- —
HERO vs. GDLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HERO Global X Video Games & Esports ETF | -13.80% | 28.74% | 17.65% | 8.36% | -33.42% | -8.37% | 91.02% | 5.07% |
GDLC Grayscale CoinDesk Crypto 5 ETF | -28.93% | 0.45% | 136.98% | 353.26% | -84.21% | 27.43% | 233.86% | -5.00% |
Correlation
The correlation between HERO and GDLC is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2019 | 0.30 |
The correlation between HERO and GDLC shifts across timeframes, from 0.27 (3 years) to 0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HERO vs. GDLC — Risk / Return Rank
HERO
GDLC
HERO vs. GDLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports ETF (HERO) 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.
| HERO | GDLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.90 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | -0.64 | +0.17 |
| Martin ratioReturn relative to average drawdown | -0.88 | -1.09 | +0.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HERO | GDLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.64 | -0.70 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | 0.03 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.29 | +0.09 |
Drawdowns
HERO vs. GDLC - Drawdown Comparison
The maximum HERO drawdown since its inception was -54.02%, smaller than the maximum GDLC drawdown of -94.14%. Use the drawdown chart below to compare losses from any high point for HERO and GDLC.
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Drawdown Indicators
| HERO | GDLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.02% | -94.14% | +40.12% |
Max Drawdown (1Y)Largest decline over 1 year | -26.64% | -52.91% | +26.27% |
Max Drawdown (3Y)Largest decline over 3 years | -26.64% | -52.91% | +26.27% |
Max Drawdown (5Y)Largest decline over 5 years | -48.44% | -94.14% | +45.70% |
Current DrawdownCurrent decline from peak | -27.46% | -54.28% | +26.82% |
Average DrawdownAverage peak-to-trough decline | -25.97% | -52.73% | +26.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.11% | 31.04% | -16.93% |
Volatility
HERO vs. GDLC - Volatility Comparison
The current volatility for Global X Video Games & Esports ETF (HERO) is 5.13%, while Grayscale CoinDesk Crypto 5 ETF (GDLC) has a volatility of 9.78%. This indicates that HERO experiences smaller price fluctuations and is considered to be less risky than GDLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HERO | GDLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 9.78% | -4.65% |
Volatility (6M)Calculated over the trailing 6-month period | 15.10% | 36.66% | -21.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.52% | 48.54% | -29.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.37% | 74.43% | -51.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.50% | 93.91% | -69.41% |
HERO vs. GDLC - Expense Ratio Comparison
HERO has a 0.50% expense ratio, which is lower than GDLC's 0.59% expense ratio.
Dividends
HERO vs. GDLC - Dividend Comparison
HERO's dividend yield for the trailing twelve months is around 1.88%, while GDLC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GDLC Grayscale CoinDesk Crypto 5 ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HERO Global X Video Games & Esports ETF | 1.88% | 1.62% | 1.06% | 0.73% | 0.28% | 0.79% | 0.71% | 0.17% |
Frequently Asked Questions
HERO and GDLC have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDLC has higher volatility (9.78%) compared to HERO (5.13%). In terms of maximum drawdown, HERO dropped -54.02% vs GDLC's -94.14%.
On 5-year performance, GDLC leads with 2.21% vs -3.62% for HERO. On fees, HERO is cheaper at 0.50% per year. On volatility, HERO has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GDLC has performed better with a 2.21% return vs -3.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HERO is cheaper with a 0.50% expense ratio, compared with 0.59% for GDLC.
HERO has the higher dividend yield at 1.88%, compared with 0.00% for GDLC.
HERO is categorized as Large Cap Growth Equities, while GDLC is Cryptocurrency. HERO tracks Solactive Video Games & Esports Index, while GDLC tracks CoinDesk 5 Index. They also come from different issuers: Global X and Grayscale. Their fees differ too: 0.50% for HERO and 0.59% for GDLC.
HERO currently has the higher Sharpe Ratio (-0.64 vs -0.70), 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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