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 14.29%/yr vs 15.72%/yr for BTC-USD. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
BTCX-B.TO vs. BTC-USD - Performance Comparison
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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
In the year-to-date period, BTCX-B.TO achieves a -24.79% return, which is significantly lower than BTC-USD's -23.11% return.
BTCX-B.TO
- 1D
- -2.37%
- 1M
- -16.88%
- YTD
- -24.79%
- 6M
- -30.42%
- 1Y
- -38.32%
- 3Y*
- 34.38%
- 5Y*
- 14.29%
- 10Y*
- —
BTC-USD
- 1D
- 0.00%
- 1M
- -15.14%
- YTD
- -23.11%
- 6M
- -29.19%
- 1Y
- -36.19%
- 3Y*
- 36.35%
- 5Y*
- 15.72%
- 10Y*
- 61.92%
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 | -24.79% | -11.32% | 139.01% | 149.40% | -62.06% | -16.98% |
BTC-USD Bitcoin | -23.11% | -10.57% | 139.80% | 149.06% | -61.52% | -15.79% |
Correlation
The correlation between BTCX-B.TO and BTC-USD is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2021 | 0.69 |
The correlation between BTCX-B.TO and BTC-USD has been stable across timeframes, ranging from 0.69 to 0.71 - a consistent structural relationship.
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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.
| BTCX-B.TO | BTC-USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.90 | -0.86 | -0.04 |
Sortino ratioReturn per unit of downside risk | -1.24 | -1.13 | -0.12 |
Omega ratioGain probability vs. loss probability | 0.86 | 0.88 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | -0.76 | -0.72 | -0.05 |
Martin ratioReturn relative to average drawdown | -1.32 | -1.26 | -0.06 |
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
| BTCX-B.TO | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.90 | -0.86 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.30 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.93 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 1.20 | -1.12 |
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 -83.55%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and BTC-USD.
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Drawdown Indicators
| BTCX-B.TO | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.26% | -83.55% | +8.29% |
Max Drawdown (1Y)Largest decline over 1 year | -50.41% | -50.49% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -50.41% | -50.49% | +0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -75.26% | -74.78% | -0.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.53% | — |
Current DrawdownCurrent decline from peak | -48.50% | -46.91% | -1.59% |
Average DrawdownAverage peak-to-trough decline | -32.95% | -39.95% | +7.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.08% | 34.38% | -5.30% |
Volatility
BTCX-B.TO vs. BTC-USD - Volatility Comparison
CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) and Bitcoin (BTC-USD) have volatilities of 9.83% and 9.93%, 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 | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.83% | 9.93% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 33.96% | 34.44% | -0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.89% | 35.16% | +7.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.13% | 43.69% | +10.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.99% | 55.22% | -0.23% |
Frequently Asked Questions
BTCX-B.TO and BTC-USD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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