MANA vs. GLNK
MANA (Grayscale Decentraland Trust) and GLNK (Grayscale Chainlink Trust ETF) are both Cryptocurrency funds from Grayscale. MANA is actively managed, while GLNK is passively managed. Over the past 3 years, MANA returned -56.52%/yr vs -30.64%/yr for GLNK. At a 0.23 correlation, their price movements are largely independent.
Performance
MANA vs. GLNK - Performance Comparison
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Returns By Period
In the year-to-date period, MANA achieves a -53.27% return, which is significantly lower than GLNK's -39.14% return.
MANA
- 1D
- -2.98%
- 1M
- -38.60%
- YTD
- -53.27%
- 6M
- -54.66%
- 1Y
- -75.75%
- 3Y*
- -56.52%
- 5Y*
- —
- 10Y*
- —
GLNK
- 1D
- 1.69%
- 1M
- -16.92%
- YTD
- -39.14%
- 6M
- -39.23%
- 1Y
- -65.59%
- 3Y*
- -30.64%
- 5Y*
- —
- 10Y*
- —
MANA vs. GLNK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MANA Grayscale Decentraland Trust | -53.27% | -91.36% | -28.08% | 756.41% | -82.27% |
GLNK Grayscale Chainlink Trust ETF | -39.14% | -87.10% | 38.45% | 840.06% | -18.87% |
Correlation
The correlation between MANA and GLNK is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since May 19, 2022 | 0.23 |
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Return for Risk
MANA vs. GLNK — Risk / Return Rank
MANA
GLNK
MANA vs. GLNK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Decentraland Trust (MANA) and Grayscale Chainlink Trust ETF (GLNK). 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.
| MANA | GLNK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.92 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.73 | -0.15 |
| Martin ratioReturn relative to average drawdown | -1.34 | -0.93 | -0.41 |
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Drawdowns
MANA vs. GLNK - Drawdown Comparison
The maximum MANA drawdown since its inception was -99.28%, roughly equal to the maximum GLNK drawdown of -96.25%. Use the drawdown chart below to compare losses from any high point for MANA and GLNK.
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Drawdown Indicators
| MANA | GLNK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.28% | -96.25% | -3.03% |
Max Drawdown (1Y)Largest decline over 1 year | -85.85% | -89.50% | +3.65% |
Max Drawdown (3Y)Largest decline over 3 years | -99.28% | -96.25% | -3.03% |
Current DrawdownCurrent decline from peak | -99.20% | -96.09% | -3.11% |
Average DrawdownAverage peak-to-trough decline | -71.69% | -56.32% | -15.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.43% | 70.48% | -14.05% |
Volatility
MANA vs. GLNK - Volatility Comparison
Grayscale Decentraland Trust (MANA) has a higher volatility of 37.05% compared to Grayscale Chainlink Trust ETF (GLNK) at 19.79%. This indicates that MANA's price experiences larger fluctuations and is considered to be riskier than GLNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MANA | GLNK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 37.05% | 19.79% | +17.26% |
Volatility (6M)Calculated over the trailing 6-month period | 89.80% | 47.23% | +42.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 117.59% | 107.93% | +9.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 174.61% | 163.67% | +10.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 174.61% | 163.67% | +10.94% |
Dividends
MANA vs. GLNK - Dividend Comparison
Neither MANA nor GLNK has paid dividends to shareholders.
Frequently Asked Questions
MANA and GLNK have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MANA has higher volatility (37.05%) compared to GLNK (19.79%). In terms of maximum drawdown, MANA dropped -99.28% vs GLNK's -96.25%.
On 3-year performance, GLNK leads with -30.64% vs -56.52% for MANA. On volatility, GLNK has been the lower-risk option at 19.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GLNK has performed better with a -30.64% return vs -56.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MANA and GLNK have nearly identical dividend yields, around 0.00%.
GLNK currently has the higher Sharpe Ratio (-0.61 vs -0.65), 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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