GBTC vs DFAX

Comparison between Grayscale Investments LLC (GBTC, ETF) and DIMENSIONAL WORLD EX U.S. CORE EQUITY 2 ETF (DFAX, ETF).

5-Year PerformanceDFAX has outperformed GBTC, delivering a return of +10.4% compared to +5.9%

GBTC vs DFAX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GBTC(ETF)	DFAX(ETF)
Net Assets	$11B	$11B
Expense Ratio	1.50%	0.28%
Max Drawdown	89.91%	30.88%
Sharpe Ratio	-0.32	2.23
5Y Beta	1.29	0.70

Net Assets

GBTC

$11B

DFAX

$11B

Expense Ratio

GBTC

1.50%

Winner

DFAX

0.28%

Max Drawdown

GBTC

89.91%

Winner

DFAX

30.88%

Sharpe Ratio

GBTC

-0.32

Winner

DFAX

2.23

5Y Beta

GBTC

1.29

Winner

DFAX

0.70

GBTC vs DFAX - Holdings Comparison

GBTC and DFAX have 0 common holdings. Overlap is 0.00%

GBTC's top 25 holdings weight is 12.55%. DFAX's top 25 holdings weight is 5.90%.

Rank	GBTC	DFAX
#1	GRAYSCALE BITCOIN MINI TRUST (BTC) (BTC) - 12.55%	n/a (TSM) - 0.85%
#2	N/A	NOVARTIS AG ADR (NVS) - 0.60%
#3	N/A	n/a (SHEL) - 0.57%
#4	N/A	ASML HOLDING NV ADR (ASML) - 0.43%
#5	N/A	BP PLC ADR (BP) - 0.27%
#6	N/A	HSBC HOLDINGS PLC ADR (HSBC) - 0.23%
#7	N/A	ASTRAZENECA PLC ADR (AZN) - 0.23%
#8	N/A	SUNCOR ENERGY INC (SU) - 0.22%
#9	N/A	ROYAL BANK OF CANADA (RY) - 0.21%
#10	N/A	UNILEVER PLC ADR (UL) - 0.20%
#11	N/A	CANADIAN NATURAL RESOURCES LTD (CNQ) - 0.19%
#12	N/A	AGNICO EAGLE MINES LTD (AEM) - 0.17%
#13	N/A	THE TORONTO-DOMINION BANK (TD) - 0.17%
#14	N/A	BHP GROUP LTD ADR (BHP) - 0.15%
#15	N/A	ICICI BANK LTD ADR (IBN) - 0.15%
#16	N/A	n/a (CLS) - 0.14%
#17	N/A	BANCO BILBAO VIZCAYA ARGENTARIA SA ADR (BBVA) - 0.14%
#18	N/A	ALCON INC (ALC) - 0.14%
#19	N/A	RIO TINTO PLC ADR (RIO) - 0.14%
#20	N/A	CENOVUS ENERGY INC (CVE) - 0.13%
#21	N/A	TC ENERGY CORP (TRP) - 0.12%
#22	N/A	YUM CHINA HOLDINGS INC (YUMC) - 0.12%
#23	N/A	NUTRIEN LTD (NTR) - 0.11%
#24	N/A	SUN LIFE FINANCIAL INC (SLF) - 0.11%
#25	N/A	GSK PLC ADR (GSK) - 0.11%
Total Holdings	1	52

GBTC vs DFAX - Historical Returns

Returns include dividend reinvestment.

Period	GBTC	DFAX
1 month	+12.23%	+4.82%
3 months	+12.90%	+4.51%
6 months	-23.36%	+20.01%
1 year	-22.09%	+41.38%
5 years(CAGR)	+5.85%	+10.42%
10 years(CAGR)	+55.73%	N/A
Max(CAGR)	+57.73%	+10.42%

Winner

GBTC

+12.23%

DFAX

+4.82%

Winner

GBTC

+12.90%

DFAX

+4.51%

GBTC

-23.36%

Winner

DFAX

+20.01%

GBTC

-22.09%

Winner

DFAX

+41.38%

5Y(CAGR)

GBTC

+5.85%

Winner

DFAX

+10.42%

10Y(CAGR)

GBTC

+55.73%

DFAX

N/A

Max(CAGR)

Winner

GBTC

+57.73%

DFAX

+10.42%

GBTC vs DFAX - Annual Returns (2015 - 2026)

Returns include dividend reinvestment.

Year	GBTC	DFAX
2026	-11.16%	+13.45%
2025	-11.46%	+35.62%
2024	+100.87%	+5.82%
2023	+322.20%	+15.89%
2022	-75.81%	-14.97%
2021	-2.37%	-2.69%
2020	+301.00%	N/A
2019	+77.27%	N/A
2018	-84.05%	N/A
2017	+1558.98%	N/A
2016	+90.08%	N/A
2015	+50.01%	N/A

GBTC vs DFAX Drawdown Comparison

The maximum drawdown for GBTC was -89.91%, occurring on Dec 14, 2018. Recovery took 766 trading sessions.

The maximum drawdown for DFAX was -28.13%, occurring on Oct 12, 2022. Recovery took 624 trading sessions.

The current GBTC drawdown is -36.70%.

Rank	GBTC	DFAX
#1	-89.91% Dec 18, 2017 - Jan 5, 2021	-28.13% Sep 13, 2021 - Mar 7, 2024
#2	-86.24% Feb 19, 2021 - Mar 4, 2024	-13.89% Mar 19, 2025 - May 2, 2025
#3	-57.96% May 5, 2015 - Dec 8, 2015	-11.11% Feb 25, 2026 - May 6, 2026
#4	-49.55% Oct 6, 2025 - Feb 5, 2026	-9.41% Sep 26, 2024 - Mar 17, 2025
#5	-48.42% Aug 31, 2017 - Nov 3, 2017	-7.96% Jul 12, 2024 - Aug 23, 2024
#6	-41.48% Jun 17, 2016 - Jan 3, 2017	-4.58% Nov 12, 2025 - Dec 10, 2025
#7	-36.93% Dec 15, 2015 - Apr 21, 2016	-4.21% Apr 9, 2024 - May 6, 2024
#8	-36.68% Jun 6, 2017 - Aug 10, 2017	-3.83% Aug 23, 2024 - Sep 19, 2024
#9	-35.04% Mar 13, 2024 - Nov 11, 2024	-3.40% Jul 23, 2025 - Aug 12, 2025
#10	-30.26% Jan 7, 2021 - Feb 8, 2021	-3.37% Oct 6, 2025 - Oct 24, 2025
#11	-28.76% Jan 4, 2017 - May 1, 2017	-3.19% May 17, 2024 - Jul 11, 2024
#12	-28.45% Dec 17, 2024 - May 21, 2025	-2.48% Jun 12, 2025 - Jun 26, 2025
#13	-19.31% May 9, 2017 - May 22, 2017	-2.21% Oct 27, 2025 - Nov 11, 2025
#14	-18.18% May 9, 2016 - May 31, 2016	-1.94% Aug 22, 2025 - Sep 8, 2025
#15	-15.79% Nov 3, 2017 - Nov 20, 2017	-1.87% Jan 27, 2026 - Feb 6, 2026