BTCC.TO vs. BTCL
BTCC.TO (Purpose Bitcoin CAD ETF Currency Hedged Units) and BTCL (T-REX 2X Long Bitcoin Daily Target ETF) are both exchange-traded funds - BTCC.TO is a Cryptocurrency fund actively managed by Purpose Investments, while BTCL is a Leveraged Cryptocurrency fund actively managed by REX. Both are actively managed. Over the past year, BTCC.TO returned -40.83% vs -73.89% for BTCL. Their correlation of 0.95 suggests significant overlap in exposure. BTCC.TO charges 1.00%/yr vs 0.95%/yr for BTCL.
Performance
BTCC.TO vs. BTCL - Performance Comparison
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Different Trading Currencies
BTCC.TO is traded in CAD, while BTCL is traded in USD. To make them comparable, the BTCL values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BTCC.TO achieves a -26.80% return, which is significantly higher than BTCL's -52.63% return.
BTCC.TO
- 1D
- -2.83%
- 1M
- -18.68%
- YTD
- -26.80%
- 6M
- -31.17%
- 1Y
- -40.83%
- 3Y*
- 29.76%
- 5Y*
- 8.41%
- 10Y*
- —
BTCL
- 1D
- -5.10%
- 1M
- -33.84%
- YTD
- -52.63%
- 6M
- -60.13%
- 1Y
- -73.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCC.TO vs. BTCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCC.TO Purpose Bitcoin CAD ETF Currency Hedged Units | -26.80% | -9.18% | 60.82% |
BTCL T-REX 2X Long Bitcoin Daily Target ETF | -52.63% | -42.30% | 117.29% |
Correlation
The correlation between BTCC.TO and BTCL is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | 0.95 |
The correlation between BTCC.TO and BTCL has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
BTCC.TO vs. BTCL — Risk / Return Rank
BTCC.TO
BTCL
BTCC.TO vs. BTCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Bitcoin CAD ETF Currency Hedged Units (BTCC.TO) and T-REX 2X Long Bitcoin Daily Target ETF (BTCL). 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.
| BTCC.TO | BTCL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.83 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.93 | +0.11 |
| Martin ratioReturn relative to average drawdown | -1.41 | -1.46 | +0.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTCC.TO | BTCL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.95 | -0.86 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | -0.25 | +0.29 |
Drawdowns
BTCC.TO vs. BTCL - Drawdown Comparison
The maximum BTCC.TO drawdown since its inception was -77.80%, roughly equal to the maximum BTCL drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for BTCC.TO and BTCL.
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Drawdown Indicators
| BTCC.TO | BTCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.80% | -79.98% | +2.18% |
Max Drawdown (1Y)Largest decline over 1 year | -50.04% | -79.63% | +29.59% |
Max Drawdown (3Y)Largest decline over 3 years | -50.04% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -77.80% | — | — |
Current DrawdownCurrent decline from peak | -49.32% | -79.98% | +30.66% |
Average DrawdownAverage peak-to-trough decline | -34.63% | -35.12% | +0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.07% | 50.60% | -21.53% |
Volatility
BTCC.TO vs. BTCL - Volatility Comparison
The current volatility for Purpose Bitcoin CAD ETF Currency Hedged Units (BTCC.TO) is 9.89%, while T-REX 2X Long Bitcoin Daily Target ETF (BTCL) has a volatility of 18.74%. This indicates that BTCC.TO experiences smaller price fluctuations and is considered to be less risky than BTCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCC.TO | BTCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.89% | 18.74% | -8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 34.00% | 69.33% | -35.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.32% | 86.54% | -43.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.47% | 97.22% | -41.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.81% | 97.22% | -40.41% |
BTCC.TO vs. BTCL - Expense Ratio Comparison
BTCC.TO has a 1.00% expense ratio, which is higher than BTCL's 0.95% expense ratio.
Dividends
BTCC.TO vs. BTCL - Dividend Comparison
BTCC.TO has not paid dividends to shareholders, while BTCL's dividend yield for the trailing twelve months is around 3.62%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCC.TO Purpose Bitcoin CAD ETF Currency Hedged Units | 0.00% | 0.00% | 0.00% |
BTCL T-REX 2X Long Bitcoin Daily Target ETF | 3.62% | 1.70% | 4.35% |
Frequently Asked Questions
With a correlation of 0.97, BTCC.TO and BTCL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, BTCL is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTCL is cheaper with a 0.95% expense ratio, compared with 1.00% for BTCC.TO.
BTCC.TO is categorized as Cryptocurrency, while BTCL is Leveraged Cryptocurrency. They also come from different issuers: Purpose Investments and REX. Their fees differ too: 1.00% for BTCC.TO and 0.95% for BTCL.
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