BTCC-U.TO vs. ETHX-U.TO

Last updated Jul 16, 2026

BTCC-U.TO (Purpose Bitcoin ETF Non-Currency Hedged Units) and ETHX-U.TO (CI Galaxy Ethereum ETF (US$ Series)) are both Cryptocurrency funds. Both are actively managed. Over the past 5 years, BTCC-U.TO returned 13.71%/yr vs -0.57%/yr for ETHX-U.TO. Their correlation of 0.81 suggests significant overlap in exposure.

Performance

BTCC-U.TO vs. ETHX-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Purpose Bitcoin ETF Non-Currency Hedged Units (BTCC-U.TO) and CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCC-U.TO achieves a -25.98% return, which is significantly higher than ETHX-U.TO's -35.23% return.

BTCC-U.TO

• 1D: 1.06%
• 1M: -2.30%
• 6M: -33.76%
• YTD: -25.98%
• 1Y: -45.15%
• 3Y*: 27.49%
• 5Y*: 13.71%
• 10Y*: —

ETHX-U.TO

• 1D: 2.64%
• 1M: 5.69%
• 6M: -43.15%
• YTD: -35.23%
• 1Y: -36.99%
• 3Y*: -0.46%
• 5Y*: -0.57%
• 10Y*: —

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

BTCC-U.TO vs. ETHX-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BTCC-U.TO Purpose Bitcoin ETF Non-Currency Hedged Units	-25.98%	-7.46%	118.51%	153.14%	-64.85%	-18.91%
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	-35.23%	-11.53%	43.46%	93.31%	-67.94%	63.87%

Correlation

The correlation between BTCC-U.TO and ETHX-U.TO is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Apr 20, 2021	0.81

The correlation between BTCC-U.TO and ETHX-U.TO has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

Return for Risk

BTCC-U.TO vs. ETHX-U.TO — Risk / Return Rank

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

BTCC-U.TO

BTCC-U.TO Risk / Return Rank: 2
BTCC-U.TO Sharpe Ratio Rank: 1
BTCC-U.TO Sortino Ratio Rank: 2
BTCC-U.TO Omega Ratio Rank: 2
BTCC-U.TO Calmar Ratio Rank: 2
BTCC-U.TO Martin Ratio Rank: 2

ETHX-U.TO

ETHX-U.TO Risk / Return Rank: 5
ETHX-U.TO Sharpe Ratio Rank: 5
ETHX-U.TO Sortino Ratio Rank: 5
ETHX-U.TO Omega Ratio Rank: 5
ETHX-U.TO Calmar Ratio Rank: 5
ETHX-U.TO 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.

BTCC-U.TO vs. ETHX-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Bitcoin ETF Non-Currency Hedged Units (BTCC-U.TO) and CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO). 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.

	BTCC-U.TO	ETHX-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	-0.55	-0.47
Sortino ratio: Return per unit of downside risk	-1.52	-0.49	-1.03
Omega ratio: Gain probability vs. loss probability	0.83	0.95	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.85	-0.55	-0.30
Martin ratio: Return relative to average drawdown	-1.36	-0.85	-0.51

BTCC-U.TO vs. ETHX-U.TO - Sharpe Ratio Comparison

The current BTCC-U.TO Sharpe Ratio is -1.02, which is lower than the ETHX-U.TO Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of BTCC-U.TO and ETHX-U.TO, 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

BTCC-U.TO vs. ETHX-U.TO - Drawdown Comparison

The maximum BTCC-U.TO drawdown since its inception was -76.91%, roughly equal to the maximum ETHX-U.TO drawdown of -79.05%. Use the drawdown chart below to compare losses from any high point for BTCC-U.TO and ETHX-U.TO.

Drawdown Indicators

	BTCC-U.TO	ETHX-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-76.91%	-79.05%	+2.14%
Max Drawdown (1Y) Largest decline over 1 year	-53.49%	-68.04%	+14.55%
Max Drawdown (3Y) Largest decline over 3 years	-53.49%	-68.04%	+14.55%
Max Drawdown (5Y) Largest decline over 5 years	-76.91%	-79.05%	+2.14%
Current Drawdown Current decline from peak	-48.61%	-61.14%	+12.53%
Average Drawdown Average peak-to-trough decline	-34.35%	-46.37%	+12.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.32%	43.82%	-10.50%

Volatility

BTCC-U.TO vs. ETHX-U.TO - Volatility Comparison

The current volatility for Purpose Bitcoin ETF Non-Currency Hedged Units (BTCC-U.TO) is 10.72%, while CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) has a volatility of 15.24%. This indicates that BTCC-U.TO experiences smaller price fluctuations and is considered to be less risky than ETHX-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCC-U.TO	ETHX-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.72%	15.24%	-4.52%
Volatility (6M) Calculated over the trailing 6-month period	34.84%	46.76%	-11.92%
Volatility (1Y) Calculated over the trailing 1-year period	44.53%	67.88%	-23.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.47%	70.87%	-16.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.15%	73.76%	-17.61%

Dividends

BTCC-U.TO vs. ETHX-U.TO - Dividend Comparison

Neither BTCC-U.TO nor ETHX-U.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BTCC-U.TO and ETHX-U.TO in my portfolio?

BTCC-U.TO and ETHX-U.TO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between BTCC-U.TO and ETHX-U.TO?

They also come from different issuers: Purpose Investments and CI.