LTCN vs. EZBC

Last updated Aug 1, 2026

LTCN (Grayscale Litecoin Trust) and EZBC (Franklin Bitcoin ETF) are both Cryptocurrency funds - LTCN tracks the CoinDesk Litecoin Price Index while EZBC tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, LTCN returned -61.34% vs -44.53% for EZBC. Their 0.62 correlation means they have sometimes moved together and sometimes differently. LTCN charges 2.50%/yr vs 0.19%/yr for EZBC.

Performance

LTCN vs. EZBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Litecoin Trust (LTCN) and Franklin Bitcoin ETF (EZBC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LTCN achieves a -44.82% return, which is significantly lower than EZBC's -28.20% return.

LTCN

• 1D: -1.11%
• 1M: 0.94%
• 6M: -37.33%
• YTD: -44.82%
• 1Y: -61.34%
• 3Y*: -16.25%
• 5Y*: -24.69%
• 10Y*: —
• ALL TIME*: -33.04%

EZBC

• 1D: -2.86%
• 1M: 2.28%
• 6M: -25.05%
• YTD: -28.20%
• 1Y: -44.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EZBC Franklin Bitcoin ETF	$3.11M	$3.63M	$7.00M
LTCN Grayscale Litecoin Trust	$228.60K	$254.02K	$357.31K

LTCN vs. EZBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LTCN Grayscale Litecoin Trust	-44.82%	-54.37%	22.98%
EZBC Franklin Bitcoin ETF	-28.20%	-6.56%	87.83%

Correlation

The correlation between LTCN and EZBC is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.62

The correlation between LTCN and EZBC shifts across timeframes, from 0.62 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LTCN vs. EZBC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LTCN

LTCN Risk / Return Rank: 2
LTCN Sharpe Ratio Rank: 2
LTCN Sortino Ratio Rank: 1
LTCN Omega Ratio Rank: 1
LTCN Calmar Ratio Rank: 2
LTCN Martin Ratio Rank: 3

EZBC

EZBC Risk / Return Rank: 1
EZBC Sharpe Ratio Rank: 1
EZBC Sortino Ratio Rank: 1
EZBC Omega Ratio Rank: 2
EZBC Calmar Ratio Rank: 2
EZBC Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LTCN vs. EZBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) and Franklin Bitcoin ETF (EZBC). 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.

	LTCN	EZBC	Difference
Sharpe ratio: Return per unit of total volatility	-0.97	-1.05	+0.07
Sortino ratio: Return per unit of downside risk	-1.63	-1.58	-0.04
Omega ratio: Gain probability vs. loss probability	0.81	0.83	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.87	0.00
Martin ratio: Return relative to average drawdown	-1.24	-1.34	+0.10

LTCN vs. EZBC - Sharpe Ratio Comparison

The current LTCN Sharpe Ratio is -0.97, which is comparable to the EZBC Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of LTCN and EZBC, 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

LTCN vs. EZBC - Drawdown Comparison

The maximum LTCN drawdown since its inception was -99.58%, which is greater than EZBC's maximum drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for LTCN and EZBC.

Drawdown Indicators

	LTCN	EZBC	Difference
Max Drawdown Largest peak-to-trough decline	-99.58%	-53.35%	-46.23%
Max Drawdown (1Y) Largest decline over 1 year	-72.73%	-53.35%	-19.38%
Max Drawdown (3Y) Largest decline over 3 years	-93.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-93.68%	—	—
Current Drawdown Current decline from peak	-99.36%	-50.02%	-49.34%
Average Drawdown Average peak-to-trough decline	-89.83%	-18.28%	-71.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.75%	34.65%	+16.10%

Volatility

LTCN vs. EZBC - Volatility Comparison

Grayscale Litecoin Trust (LTCN) has a higher volatility of 10.39% compared to Franklin Bitcoin ETF (EZBC) at 9.03%. This indicates that LTCN's price experiences larger fluctuations and is considered to be riskier than EZBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTCN	EZBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.39%	9.03%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	39.88%	33.75%	+6.13%
Volatility (1Y) Calculated over the trailing 1-year period	64.78%	44.37%	+20.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.83%	49.52%	+51.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	140.40%	49.52%	+90.88%

LTCN vs. EZBC - Expense Ratio Comparison

LTCN has a 2.50% expense ratio, which is higher than EZBC's 0.19% expense ratio.

Dividends

LTCN vs. EZBC - Dividend Comparison

Neither LTCN nor EZBC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LTCN and EZBC in my portfolio?

LTCN and EZBC have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LTCN or EZBC?

LTCN has higher volatility (10.39%) compared to EZBC (9.03%). In terms of maximum drawdown, LTCN dropped -99.58% vs EZBC's -53.35%.

Which ETF is better, LTCN or EZBC?

On 1-year performance, EZBC leads with -44.53% vs -61.34% for LTCN. On fees, EZBC is cheaper at 0.19% per year. On volatility, EZBC has been the lower-risk option at 9.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LTCN or EZBC?

Over the 1-year period, EZBC has performed better with a -44.53% return vs -61.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LTCN or EZBC?

EZBC is cheaper with a 0.19% expense ratio, compared with 2.50% for LTCN.

Which ETF pays a higher dividend yield, LTCN or EZBC?

LTCN and EZBC have nearly identical dividend yields, around 0.00%.

What is the main difference between LTCN and EZBC?

LTCN tracks CoinDesk Litecoin Price Index, while EZBC tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Grayscale and Franklin Templeton. Their fees differ too: 2.50% for LTCN and 0.19% for EZBC.

Which has better risk-adjusted returns?

LTCN currently has the higher Sharpe Ratio (-0.97 vs -1.05), 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.