GLNK vs SPY
Grayscale Chainlink Trust ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
GLNK has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GLNK | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.09% | |
| AUM | $92M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 1 | 505 | |
| YTD Return | -32.32% | +14.24% | |
| 1Y Return | -85.28% | +21.71% | |
| 3Y Return (annualized) | -18.17% | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 153.2% | 15.3% | |
| Max Drawdown | -96.3% | -56.5% | |
| Fund Family | Grayscale | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 26, 2021 | Jan 22, 1993 |
GLNK vs SPY Performance
Grayscale Chainlink Trust ETF (GLNK) is a ETF from Grayscale and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GLNK returned -85.28% while SPY returned +21.71%. Year to date, GLNK is down 32.32% versus a gain of 14.24% for SPY.
Over three years, GLNK compounded at -18.17% per year against +22.10% for SPY. Across the full 4-year window we track, SPY has the edge at +8.86% annualized vs +0.24%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GLNK has been the more volatile fund, with annualized monthly volatility of 153.2% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -96.3% for GLNK and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GLNK charges 0.00% per year while SPY charges 0.09%. On a $10,000 position that is $0 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, GLNK currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, GLNK or SPY?
GLNK has an expense ratio of 0.00% while SPY charges 0.09%. GLNK is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, GLNK or SPY?
Over the past year GLNK returned -85.28% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), GLNK annualized +0.24% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, GLNK or SPY?
GLNK has been the more volatile fund at 153.2% annualized versus 15.3% for SPY. Worst drawdown: GLNK -96.3% vs SPY -56.5%.
Should I hold both GLNK and SPY?
GLNK and SPY have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, GLNK or SPY?
GLNK yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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