MNRS vs. GLNK

Last updated Jun 26, 2026

MNRS (Grayscale Bitcoin Miners ETF) and GLNK (Grayscale Chainlink Trust ETF) are both exchange-traded funds - MNRS is a Blockchain fund tracking the Indxx Bitcoin Miners Index, while GLNK is a Cryptocurrency fund tracking the Chainlink (LINK). Both are passively managed. Over the past year, MNRS returned 95.10% vs -66.75% for GLNK. At a 0.40 correlation, their price movements are largely independent. MNRS charges 0.59%/yr vs 2.50%/yr for GLNK.

Performance

MNRS vs. GLNK - Performance Comparison

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

Returns By Period

In the year-to-date period, MNRS achieves a 45.71% return, which is significantly higher than GLNK's -41.71% return.

MNRS

• 1D: -2.70%
• 1M: -6.56%
• YTD: 45.71%
• 6M: 35.00%
• 1Y: 95.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLNK

• 1D: -0.94%
• 1M: -23.86%
• YTD: -41.71%
• 6M: -41.15%
• 1Y: -66.75%
• 3Y*: -14.05%
• 5Y*: —
• 10Y*: —

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

MNRS vs. GLNK - Yearly Performance Comparison

	2026 (YTD)	2025
MNRS Grayscale Bitcoin Miners ETF	45.71%	14.05%
GLNK Grayscale Chainlink Trust ETF	-41.71%	-82.29%

Correlation

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

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025	0.40

Return for Risk

MNRS vs. GLNK — Risk / Return Rank

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

MNRS

MNRS Risk / Return Rank: 37
MNRS Sharpe Ratio Rank: 42
MNRS Sortino Ratio Rank: 43
MNRS Omega Ratio Rank: 38
MNRS Calmar Ratio Rank: 36
MNRS Martin Ratio Rank: 26

GLNK

GLNK Risk / Return Rank: 4
GLNK Sharpe Ratio Rank: 4
GLNK Sortino Ratio Rank: 5
GLNK Omega Ratio Rank: 5
GLNK Calmar Ratio Rank: 3
GLNK Martin Ratio Rank: 5

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.

MNRS vs. GLNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Miners ETF (MNRS) 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.

	MNRS	GLNK	Difference
Sharpe ratio: Return per unit of total volatility	1.34	-0.62	+1.96
Sortino ratio: Return per unit of downside risk	1.96	-0.72	+2.68
Omega ratio: Gain probability vs. loss probability	1.23	0.92	+0.31
Calmar ratio: Return relative to maximum drawdown	1.69	-0.75	+2.43
Martin ratio: Return relative to average drawdown	3.27	-0.95	+4.23

MNRS vs. GLNK - Sharpe Ratio Comparison

The current MNRS Sharpe Ratio is 1.34, which is higher than the GLNK Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of MNRS and GLNK, 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

MNRS vs. GLNK - Drawdown Comparison

The maximum MNRS drawdown since its inception was -56.70%, smaller than the maximum GLNK drawdown of -96.25%. Use the drawdown chart below to compare losses from any high point for MNRS and GLNK.

Drawdown Indicators

	MNRS	GLNK	Difference
Max Drawdown Largest peak-to-trough decline	-56.70%	-96.25%	+39.55%
Max Drawdown (1Y) Largest decline over 1 year	-56.70%	-89.50%	+32.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-96.25%	—
Current Drawdown Current decline from peak	-19.68%	-96.25%	+76.57%
Average Drawdown Average peak-to-trough decline	-23.32%	-56.24%	+32.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.17%	70.03%	-40.86%

Volatility

MNRS vs. GLNK - Volatility Comparison

Grayscale Bitcoin Miners ETF (MNRS) has a higher volatility of 20.85% compared to Grayscale Chainlink Trust ETF (GLNK) at 19.38%. This indicates that MNRS'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.

Volatility by Period

	MNRS	GLNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.85%	19.38%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	52.45%	47.13%	+5.32%
Volatility (1Y) Calculated over the trailing 1-year period	71.30%	107.90%	-36.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.73%	163.83%	-93.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.73%	163.83%	-93.10%

MNRS vs. GLNK - Expense Ratio Comparison

MNRS has a 0.59% expense ratio, which is lower than GLNK's 2.50% expense ratio.

Dividends

MNRS vs. GLNK - Dividend Comparison

MNRS's dividend yield for the trailing twelve months is around 0.37%, while GLNK has not paid dividends to shareholders.

Position	TTM	2025
GLNK Grayscale Chainlink Trust ETF	0.00%	0.00%
MNRS Grayscale Bitcoin Miners ETF	0.37%	0.54%

Frequently Asked Questions

Can I hold both MNRS and GLNK in my portfolio?

MNRS and GLNK 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 is riskier, MNRS or GLNK?

MNRS has higher volatility (20.85%) compared to GLNK (19.38%). In terms of maximum drawdown, MNRS dropped -56.70% vs GLNK's -96.25%.

Which ETF is better, MNRS or GLNK?

On 1-year performance, MNRS leads with 95.10% vs -66.75% for GLNK. On fees, MNRS is cheaper at 0.59% per year. On volatility, GLNK has been the lower-risk option at 19.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MNRS or GLNK?

Over the 1-year period, MNRS has performed better with a 95.10% return vs -66.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MNRS or GLNK?

MNRS is cheaper with a 0.59% expense ratio, compared with 2.50% for GLNK.

Which ETF pays a higher dividend yield, MNRS or GLNK?

MNRS has the higher dividend yield at 0.37%, compared with 0.00% for GLNK.

What is the main difference between MNRS and GLNK?

MNRS is categorized as Blockchain, while GLNK is Cryptocurrency. MNRS tracks Indxx Bitcoin Miners Index, while GLNK tracks Chainlink (LINK). Their fees differ too: 0.59% for MNRS and 2.50% for GLNK.

Which has better risk-adjusted returns?

MNRS currently has the higher Sharpe Ratio (1.34 vs -0.62), 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.