BTCX-B.TO vs. BITC
BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both Cryptocurrency funds. BTCX-B.TO is passively managed, while BITC is actively managed. Over the past 3 years, BTCX-B.TO returned 30.49%/yr vs 32.48%/yr for BITC. Their 0.76 correlation means they have sometimes moved together and sometimes differently. BTCX-B.TO charges 0.80%/yr vs 0.88%/yr for BITC.
Performance
BTCX-B.TO vs. BITC - Performance Comparison
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Different Trading Currencies
BTCX-B.TO is traded in CAD, while BITC is traded in USD. To make them comparable, the BITC values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BTCX-B.TO achieves a -26.95% return, which is significantly lower than BITC's 0.57% return.
BTCX-B.TO
- 1D
- -2.81%
- 1M
- -0.23%
- 6M
- -17.61%
- YTD
- -26.95%
- 1Y
- -44.02%
- 3Y*
- 30.49%
- 5Y*
- 11.20%
- 10Y*
- —
- ALL TIME*
- 3.32%
BITC
- 1D
- 0.06%
- 1M
- -2.69%
- 6M
- 1.66%
- YTD
- 0.57%
- 1Y
- -23.66%
- 3Y*
- 32.48%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 27.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$58.13K | CA$91.07K | CA$121.97K | |
| CA$935.28K | CA$1.05M | CA$1.72M |
BTCX-B.TO vs. BITC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | -26.95% | -11.32% | 139.01% | 46.03% |
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 0.57% | -24.09% | 114.61% | 38.10% |
Correlation
The correlation between BTCX-B.TO and BITC is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2023 | 0.76 |
Over the past year, the correlation between BTCX-B.TO and BITC has dropped to 0.53 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.
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Return for Risk
BTCX-B.TO vs. BITC — Risk / Return Rank
BTCX-B.TO
BITC
BTCX-B.TO vs. BITC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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.
| BTCX-B.TO | BITC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.82 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.85 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.31 | -1.16 | -0.14 |
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Drawdowns
BTCX-B.TO vs. BITC - Drawdown Comparison
The maximum BTCX-B.TO drawdown since its inception was -75.26%, which is greater than BITC's maximum drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and BITC.
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Drawdown Indicators
| BTCX-B.TO | BITC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.26% | -38.48% | -36.78% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -27.90% | -24.81% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | -38.48% | -14.23% |
Max Drawdown (5Y)Largest decline over 5 years | -75.26% | — | — |
Current DrawdownCurrent decline from peak | -49.98% | -33.50% | -16.48% |
Average DrawdownAverage peak-to-trough decline | -33.43% | -17.46% | -15.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.25% | 20.35% | +14.90% |
Volatility
BTCX-B.TO vs. BITC - Volatility Comparison
CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) have volatilities of 8.27% and 7.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCX-B.TO | BITC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.27% | 7.97% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 33.34% | 18.25% | +15.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.84% | 25.26% | +18.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.26% | 46.00% | +6.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.52% | 46.00% | +8.52% |
BTCX-B.TO vs. BITC - Expense Ratio Comparison
BTCX-B.TO has a 0.80% expense ratio, which is lower than BITC's 0.88% expense ratio.
Dividends
BTCX-B.TO vs. BITC - Dividend Comparison
BTCX-B.TO has not paid dividends to shareholders, while BITC's dividend yield for the trailing twelve months is around 3.42%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.42% | 3.36% | 42.68% | 5.82% |
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCX-B.TO and BITC have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTCX-B.TO is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTCX-B.TO is cheaper with a 0.80% expense ratio, compared with 0.88% for BITC.
They also come from different issuers: CI and Bitwise. Their fees differ too: 0.80% for BTCX-B.TO and 0.88% for BITC.
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