BTCX-B.TO vs. BTCY-B.TO
BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and BTCY-B.TO (Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units) are both Cryptocurrency funds. Over the past 3 years, BTCX-B.TO returned 31.06%/yr vs 21.80%/yr for BTCY-B.TO. Their correlation of 0.94 suggests significant overlap in exposure.
Performance
BTCX-B.TO vs. BTCY-B.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BTCX-B.TO achieves a -25.47% return, which is significantly higher than BTCY-B.TO's -27.96% return.
BTCX-B.TO
- 1D
- -0.38%
- 1M
- -0.91%
- 6M
- -32.54%
- YTD
- -25.47%
- 1Y
- -45.50%
- 3Y*
- 31.06%
- 5Y*
- 16.44%
- 10Y*
- —
BTCY-B.TO
- 1D
- 0.00%
- 1M
- -0.63%
- 6M
- -34.93%
- YTD
- -27.96%
- 1Y
- -46.59%
- 3Y*
- 21.80%
- 5Y*
- —
- 10Y*
- —
BTCX-B.TO vs. BTCY-B.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | -25.47% | -11.32% | 139.01% | 149.40% | -62.06% | -21.81% |
BTCY-B.TO Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units | -27.96% | -11.51% | 113.48% | 107.21% | -60.74% | -22.33% |
Correlation
The correlation between BTCX-B.TO and BTCY-B.TO is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2021 | 0.94 |
The correlation between BTCX-B.TO and BTCY-B.TO has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.
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Return for Risk
BTCX-B.TO vs. BTCY-B.TO — Risk / Return Rank
BTCX-B.TO
BTCY-B.TO
BTCX-B.TO vs. BTCY-B.TO - 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 Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.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.
| BTCX-B.TO | BTCY-B.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.84 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.85 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.34 | -1.36 | +0.02 |
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Drawdowns
BTCX-B.TO vs. BTCY-B.TO - Drawdown Comparison
The maximum BTCX-B.TO drawdown since its inception was -75.26%, which is greater than BTCY-B.TO's maximum drawdown of -71.05%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and BTCY-B.TO.
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Drawdown Indicators
| BTCX-B.TO | BTCY-B.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.26% | -71.05% | -4.21% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -54.74% | +2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | -54.74% | +2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -75.26% | — | — |
Current DrawdownCurrent decline from peak | -48.97% | -50.04% | +1.07% |
Average DrawdownAverage peak-to-trough decline | -33.32% | -32.81% | -0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.90% | 34.25% | -0.35% |
Volatility
BTCX-B.TO vs. BTCY-B.TO - Volatility Comparison
The current volatility for CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) is 10.25%, while Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) has a volatility of 12.53%. This indicates that BTCX-B.TO experiences smaller price fluctuations and is considered to be less risky than BTCY-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCX-B.TO | BTCY-B.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.25% | 12.53% | -2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 33.87% | 41.55% | -7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.63% | 49.31% | -5.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.33% | 49.66% | +3.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.67% | 49.66% | +5.01% |
Dividends
BTCX-B.TO vs. BTCY-B.TO - Dividend Comparison
BTCX-B.TO has not paid dividends to shareholders, while BTCY-B.TO's dividend yield for the trailing twelve months is around 21.88%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BTCY-B.TO Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units | 21.88% | 14.33% | 7.69% | 9.31% | 19.45% | 1.25% |
Frequently Asked Questions
With a correlation of 0.98, BTCX-B.TO and BTCY-B.TO 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.
They also come from different issuers: CI Global Asset Management and Purpose.
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