BTCX-B.TO vs. BTC-USD
BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) is Cryptocurrency fund managed by CI Global Asset Management, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, BTCX-B.TO returned 17.06%/yr vs 18.10%/yr for BTC-USD. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
BTCX-B.TO vs. BTC-USD - Performance Comparison
Loading charts...
Different Trading Currencies
BTCX-B.TO is traded in CAD, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with BTCX-B.TO having a -24.73% return and BTC-USD slightly higher at -23.53%.
BTCX-B.TO
- 1D
- 3.04%
- 1M
- 2.01%
- 6M
- -31.09%
- YTD
- -24.73%
- 1Y
- -45.19%
- 3Y*
- 30.68%
- 5Y*
- 17.06%
- 10Y*
- —
BTC-USD
- 1D
- 3.91%
- 1M
- 3.21%
- 6M
- -30.77%
- YTD
- -23.53%
- 1Y
- -44.13%
- 3Y*
- 32.08%
- 5Y*
- 18.10%
- 10Y*
- 59.47%
BTCX-B.TO vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | -24.73% | -11.32% | 139.01% | 149.40% | -62.06% | -18.60% |
BTC-USD Bitcoin | -23.49% | -10.55% | 140.73% | 147.36% | -61.80% | -11.05% |
Correlation
The correlation between BTCX-B.TO and BTC-USD is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.76 |
The correlation between BTCX-B.TO and BTC-USD has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BTCX-B.TO vs. BTC-USD — Risk / Return Rank
BTCX-B.TO
BTC-USD
BTCX-B.TO vs. BTC-USD - 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 Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.82 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.84 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.35 | -1.33 | -0.02 |
Loading charts...
Drawdowns
BTCX-B.TO vs. BTC-USD - Drawdown Comparison
The maximum BTCX-B.TO drawdown since its inception was -75.26%, smaller than the maximum BTC-USD drawdown of -83.48%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and BTC-USD.
Loading charts...
Drawdown Indicators
| BTCX-B.TO | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.26% | -83.48% | +8.22% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -52.26% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | -52.26% | -0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -75.26% | -74.94% | -0.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.60% | — |
Current DrawdownCurrent decline from peak | -48.46% | -47.39% | -1.07% |
Average DrawdownAverage peak-to-trough decline | -33.28% | -40.21% | +6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.49% | 30.07% | +3.42% |
Volatility
BTCX-B.TO vs. BTC-USD - Volatility Comparison
CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a higher volatility of 11.42% compared to Bitcoin (BTC-USD) at 10.11%. This indicates that BTCX-B.TO's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BTCX-B.TO | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.42% | 10.11% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 34.13% | 33.43% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.79% | 35.26% | +8.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.37% | 45.08% | +8.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.73% | 56.15% | -1.42% |
Frequently Asked Questions
BTCX-B.TO and BTC-USD have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for BTCX-B.TO and BTC-USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer