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BTCX-B.TO vs. ETHY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BTCX-B.TO vs. ETHY.TO

Last updated Jun 4, 2026

BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and ETHY.TO (Purpose Ether Yield ETF - ETF Units) are both Cryptocurrency funds. Over the past 3 years, BTCX-B.TO returned 34.38%/yr vs -8.68%/yr for ETHY.TO. A 0.80 correlation means they provide meaningful diversification when combined.

Performance

BTCX-B.TO vs. ETHY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) and Purpose Ether Yield ETF - ETF Units (ETHY.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BTCX-B.TO achieves a -24.79% return, which is significantly higher than ETHY.TO's -45.70% 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*
—

ETHY.TO

1D
-6.57%
1M
-27.49%
YTD
-45.70%
6M
-48.19%
1Y
-39.18%
3Y*
-8.68%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BTCX-B.TO vs. ETHY.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
BTCX-B.TO
CI Galaxy Bitcoin ETF C$ Unhedged Series Units		-24.79%-11.32%139.01%149.40%-62.06%-20.60%
ETHY.TO
Purpose Ether Yield ETF - ETF Units		-45.70%-16.16%41.02%71.08%-67.53%-16.93%

Correlation

The correlation between BTCX-B.TO and ETHY.TO is 0.84, 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

0.84

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Dec 3, 2021

0.80

The correlation between BTCX-B.TO and ETHY.TO has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

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CI Galaxy Bitcoin ETF C$ Unhedged Series Units

Purpose Ether Yield ETF - ETF Units

Often compared with BTCX-B.TO:
BTCX-B.TO vs. FBTCBTCX-B.TO vs. BTC-USDBTCX-B.TO vs. IBITBTCX-B.TO vs. GLXY.TOBTCX-B.TO vs. XEQT.TOBTCX-B.TO vs. STRKBTCX-B.TO vs. HXQ.TO
Often compared with ETHY.TO:
ETHY.TO vs. ETC.TOETHY.TO vs. ETHX.TOETHY.TO vs. EBIT.TOETHY.TO vs. BTCY.TOETHY.TO vs. CCCX.TOETHY.TO vs. CCCX-B.TOETHY.TO vs. BTCC-B.TO

Return for Risk

BTCX-B.TO vs. ETHY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BTCX-B.TO
BTCX-B.TO Risk / Return Rank: 22
Overall Rank
BTCX-B.TO Sharpe Ratio Rank: 22
Sharpe Ratio Rank
BTCX-B.TO Sortino Ratio Rank: 22
Sortino Ratio Rank
BTCX-B.TO Omega Ratio Rank: 22
Omega Ratio Rank
BTCX-B.TO Calmar Ratio Rank: 22
Calmar Ratio Rank
BTCX-B.TO Martin Ratio Rank: 22
Martin Ratio Rank
ETHY.TO
ETHY.TO Risk / Return Rank: 44
Overall Rank
ETHY.TO Sharpe Ratio Rank: 44
Sharpe Ratio Rank
ETHY.TO Sortino Ratio Rank: 55
Sortino Ratio Rank
ETHY.TO Omega Ratio Rank: 55
Omega Ratio Rank
ETHY.TO Calmar Ratio Rank: 44
Calmar Ratio Rank
ETHY.TO Martin Ratio Rank: 44
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTCX-B.TO vs. ETHY.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 Ether Yield ETF - ETF Units (ETHY.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.

BTCX-B.TOETHY.TODifference

Sharpe ratio

Return per unit of total volatility

-0.90

-0.57

-0.33

Sortino ratio

Return per unit of downside risk

-1.24

-0.53

-0.71

Omega ratio

Gain probability vs. loss probability

0.86

0.94

-0.08

Calmar ratio

Return relative to maximum drawdown

-0.76

-0.60

-0.16

Martin ratio

Return relative to average drawdown

-1.32

-1.03

-0.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCX-B.TO vs. ETHY.TO - Sharpe Ratio Comparison

The current BTCX-B.TO Sharpe Ratio is -0.90, which is lower than the ETHY.TO Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of BTCX-B.TO and ETHY.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BTCX-B.TOETHY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.90

-0.57

-0.33

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.27

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.08

-0.36

+0.45

Drawdowns

BTCX-B.TO vs. ETHY.TO - Drawdown Comparison

The maximum BTCX-B.TO drawdown since its inception was -75.26%, roughly equal to the maximum ETHY.TO drawdown of -76.84%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and ETHY.TO.

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Drawdown Indicators

BTCX-B.TOETHY.TODifference

Max Drawdown

Largest peak-to-trough decline

-75.26%

-76.84%

+1.58%

Max Drawdown (1Y)

Largest decline over 1 year

-50.41%

-65.28%

+14.87%

Max Drawdown (3Y)

Largest decline over 3 years

-50.41%

-65.28%

+14.87%

Max Drawdown (5Y)

Largest decline over 5 years

-75.26%

—

—

Current Drawdown

Current decline from peak

-48.50%

-70.37%

+21.87%

Average Drawdown

Average peak-to-trough decline

-32.95%

-51.41%

+18.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

29.08%

38.00%

-8.92%

Volatility

BTCX-B.TO vs. ETHY.TO - Volatility Comparison

The current volatility for CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) is 9.83%, while Purpose Ether Yield ETF - ETF Units (ETHY.TO) has a volatility of 12.87%. This indicates that BTCX-B.TO experiences smaller price fluctuations and is considered to be less risky than ETHY.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.TOETHY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.83%

12.87%

-3.04%

Volatility (6M)

Calculated over the trailing 6-month period

33.96%

51.96%

-18.00%

Volatility (1Y)

Calculated over the trailing 1-year period

42.89%

69.09%

-26.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

54.13%

65.26%

-11.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

54.99%

65.26%

-10.27%

Dividends

BTCX-B.TO vs. ETHY.TO - Dividend Comparison

BTCX-B.TO has not paid dividends to shareholders, while ETHY.TO's dividend yield for the trailing twelve months is around 43.13%.

PositionTTM20252024202320222021
BTCX-B.TO
CI Galaxy Bitcoin ETF C$ Unhedged Series Units		0.00%0.00%0.00%0.00%0.00%0.00%
ETHY.TO
Purpose Ether Yield ETF - ETF Units		43.12%19.33%21.43%10.44%26.10%2.40%

Frequently Asked Questions

BTCX-B.TO and ETHY.TO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: CI Global Asset Management and Purpose Investments.

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