DEFG (Grayscale Decentralized Finance (DeFi) Fund LLC) ROE %: -114.03% (As of Mar. 2026)

What is Grayscale Decentralized Finance (DeFi) Fund LLC ROE %?

Grayscale Decentralized Finance (DeFi) Fund LLC DEFG 36 ROE % is -114.03% as of Mar. 2026. GuruFocus rates DEFG with a GF Score™ of 36/100. Among 1,612 Asset Management companies, Grayscale Decentralized Finance (DeFi) Fund LLC ranks better than 71.09% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Grayscale Decentralized Finance (DeFi) Fund LLC's annualized net income for the quarter that ended in Mar. 2026 was $-3.60 Mil. Grayscale Decentralized Finance (DeFi) Fund LLC's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was $3.16 Mil. Therefore, Grayscale Decentralized Finance (DeFi) Fund LLC's annualized ROE % for the quarter that ended in Mar. 2026 was -114.03%.

The historical rank and industry rank for Grayscale Decentralized Finance (DeFi) Fund LLC's ROE % or its related term are showing as below:

DEFG' s ROE % Range Over the Past 10 Years
Min: -325.82 Med: 0.55 Max: 38.77
Current: 13.02

During the past 4 years, Grayscale Decentralized Finance (DeFi) Fund LLC's highest ROE % was 38.77%. The lowest was -325.82%. And the median was 0.55%.

DEFG's ROE % is ranked better than
71.09% of 1612 companies
in the Asset Management industry
Industry Median: 6.395 vs DEFG: 13.02

Grayscale Decentralized Finance (DeFi) Fund LLC (OTCPK:DEFG) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

	ROE %		(Q: Mar. 2026 )
=	Net Income	/	Total Stockholders Equity
=	-3.6	/	3.157
=	(Net Income / Revenue )	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(-3.6 / -0.464)	*	(-0.464 / 3.157)	*	(3.157 / 3.157)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	775.86 %	*	-0.147	*	1
=	ROA %	*	Equity Multiplier
=	-114.05 %	*	1
=	-114.03 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

	ROE %		(Q: Mar. 2026 )
=	Net Income	/	Total Stockholders Equity
=	-3.6	/	3.157
=	(Net Income / Pre-Tax Income)	*	(Pre-Tax Income / Operating Income)	*	(Operating Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(-3.6 / -3.6)	*	(-3.6 / -3.6)	*	(-3.6 / -0.464)	*	(-0.464 / 3.157)	*	(3.157 / 3.157)
=	Tax Burden	*	Interest Burden	*	Operating Margin %	*	Asset Turnover	*	Equity Multiplier
=	1	*	1	*	775.86 %	*	-0.147	*	1
=	-114.03 %

Note: The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
^* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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.

Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.

Grayscale Decentralized Finance (DeFi) Fund LLC ROE % Related Terms

Grayscale Decentralized Finance (DeFi) Fund LLC ROE % Historical Data

* Premium members only.

The historical data trend for Grayscale Decentralized Finance (DeFi) Fund LLC's ROE % can be seen below:

Grayscale Decentralized Finance (DeFi) Fund LLC ROE % Chart

Grayscale Decentralized Finance (DeFi) Fund LLC Annual Data

Trend

Jun22

Jun23

Jun24

Jun25

ROE %

-325.82

5.69

38.77

-4.60

Grayscale Decentralized Finance (DeFi) Fund LLC Quarterly Data
	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Mar25	Jun25	Sep25	Mar26
ROE %	Get a 7-Day Free Trial											-118.46	-731.69	120.28	18.35	-114.03

DEFG vs SVVC, LGCP, BNBX: ROE % Comparison

For the Asset Management subindustry, Grayscale Decentralized Finance (DeFi) Fund LLC's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Grayscale Decentralized Finance (DeFi) Fund LLC's ROE % distribution charts can be found below:

* The bar in red indicates where Grayscale Decentralized Finance (DeFi) Fund LLC's ROE % falls into.

Save Embed

36GF Score

Grayscale Decentralized Finance (DeFi) Fund LLC DEFG

ROE % is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Grayscale Decentralized Finance (DeFi) Fund LLC ROE % Calculation

Grayscale Decentralized Finance (DeFi) Fund LLC's annualized ROE % for the fiscal year that ended in Jun. 2025 is calculated as

ROE %	=	Net Income (A: Jun. 2025 )	/	( (Total Stockholders Equity (A: Jun. 2024 )	+	Total Stockholders Equity (A: Jun. 2025 ))	/ count )
	=	-0.206	/	( (4.554	+	4.408)	/ 2 )
	=	-0.206	/	4.481
	=	-4.60 %

Grayscale Decentralized Finance (DeFi) Fund LLC's annualized ROE % for the quarter that ended in Mar. 2026 is calculated as

ROE %	=	Net Income (Q: Mar. 2026 )	/	( (Total Stockholders Equity (Q: Sep. 2025 )	+	Total Stockholders Equity (Q: Mar. 2026 ))	/ count )
	=	-3.6	/	( (4.615	+	1.699)	/ 2 )
	=	-3.6	/	3.157
	=	-114.03 %

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2026) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →

What does a ROE % of -114.03% mean?

Grayscale Decentralized Finance (DeFi) Fund LLC (DEFG) has a ROE % of -114.03% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. 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 #466 out of 1612 companies in the Asset Management industry, placing it in the top 28.9%.

Is Grayscale Decentralized Finance (DeFi) Fund LLC's ROE % too high?

Grayscale Decentralized Finance (DeFi) Fund LLC's current ROE % is -114.03%. Based on the distribution chart, Grayscale Decentralized Finance (DeFi) Fund LLC ranks #466 out of 1612 companies in the Asset Management industry, which is above the industry midpoint. 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 ROE % compare to SVVC and LGCP?

According to the Asset Management industry distribution chart, Grayscale Decentralized Finance (DeFi) Fund LLC ranks #466 out of 1612 companies for ROE %. This puts Grayscale Decentralized Finance (DeFi) Fund LLC in the upper half of its industry. The industry median ROE % is 6.40. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROE % for an Asset Management company?

The median ROE % among Asset Management companies is 6.40, based on 1,612 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % 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 ROE % mean?

A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Grayscale Decentralized Finance (DeFi) Fund LLC and its competitors. For the Asset Management industry, the median ROE % is 6.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Grayscale Decentralized Finance (DeFi) Fund LLC's current ROE % is -114.03%. 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 ROE % of -114.03%. The current ROE % is -114.03%. Grayscale Decentralized Finance (DeFi) Fund LLC's overall GF Score™ is 36/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROE % calculated?

ROE % is calculated from a company's financial statements. For Grayscale Decentralized Finance (DeFi) Fund LLC (DEFG), the current ROE % is -114.03% as of Mar. 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 Business Description

Industry Financial Services Asset Management

Comparable Companies SVVC LGCP BNBX TWAV PIAC BLK BX OSTO:INVE A TSX:BN KKR TSX:BAM APO STT OSTO:EQT AMP LSE:III NTRS ARES RJF XSWX:PGHN

Address 290 Harbor Drive, 4th Floor, Stamford, CT, USA, 06902

Website https://www.grayscale.com

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

ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$7.49

Price

View DEFG Analysis

See ROE % data for all stocks →