Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
DEFG's Earnings Yield (Joel Greenblatt) % is ranked worse than 96.98% of 1620
companies
in the Asset Management industry
Industry Median: 0
vs DEFG: -47.85
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Grayscale Decentralized Finance (DeFi) Fund LLC's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2026 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Asset Management subindustry, Grayscale Decentralized Finance (DeFi) Fund LLC's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Grayscale Decentralized Finance (DeFi) Fund LLC Earnings Yield (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Grayscale Decentralized Finance (DeFi) Fund LLC's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Grayscale Decentralized Finance (DeFi) Fund LLC's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Grayscale Decentralized Finance (DeFi) Fund LLC's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-1.83 Mil.
What does a Earnings Yield (Joel Greenblatt) % of -69.93% mean?
Grayscale Decentralized Finance (DeFi) Fund LLC (DEFG) has a Earnings Yield (Joel Greenblatt) % of -69.93% as of Jun. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Grayscale Decentralized Finance (DeFi) Fund LLC and its competitors. According to the industry distribution chart, Grayscale Decentralized Finance (DeFi) Fund LLC ranks #1571 out of 1620 companies in the Asset Management industry, placing it in the top 97%.
Is Grayscale Decentralized Finance (DeFi) Fund LLC's Earnings Yield (Joel Greenblatt) % too high?
Grayscale Decentralized Finance (DeFi) Fund LLC's current Earnings Yield (Joel Greenblatt) % is -69.93%. Based on the distribution chart, Grayscale Decentralized Finance (DeFi) Fund LLC ranks #1571 out of 1620 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Grayscale Decentralized Finance (DeFi) Fund LLC has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does Grayscale Decentralized Finance (DeFi) Fund LLC's Earnings Yield (Joel Greenblatt) % compare to PIAC and BNBX?
According to the Asset Management industry distribution chart, Grayscale Decentralized Finance (DeFi) Fund LLC ranks #1571 out of 1620 companies for Earnings Yield (Joel Greenblatt) %. This places Grayscale Decentralized Finance (DeFi) Fund LLC in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for an Asset Management company?
A good Earnings Yield (Joel Greenblatt) % depends on the Asset Management industry context. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Grayscale Decentralized Finance (DeFi) Fund LLC and its competitors. Grayscale Decentralized Finance (DeFi) Fund LLC's current Earnings Yield (Joel Greenblatt) % is -69.93%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grayscale Decentralized Finance (DeFi) Fund LLC stock overvalued right now?
Grayscale Decentralized Finance (DeFi) Fund LLC (DEFG) has a current Earnings Yield (Joel Greenblatt) % of -69.93%. The current Earnings Yield (Joel Greenblatt) % is -69.93%. Grayscale Decentralized Finance (DeFi) Fund LLC's overall GF Score™ is 36/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Grayscale Decentralized Finance (DeFi) Fund LLC (DEFG), the current Earnings Yield (Joel Greenblatt) % is -69.93% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Grayscale Decentralized Finance (DeFi) Fund LLC is an investment vehicle that invests in and derives value from a basket of decentralized finance applications in the form of a security while avoiding the challenges of buying, storing, and safekeeping DeFi directly. Its investment objective is for the value of the Shares (based on NAV per Share) to reflect the value of the fund components as determined by reference to their respective digital asset reference rates and fund weightings, less the fund's expenses and other liabilities. The fund components consist of the digital assets that make up the DFX (CoinDesk DeFi Select Index) as rebalanced from time to time.
36GF Score
Get the complete analysis for DEFG
Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
DEFG has been successfully added to your 
