BTCX-B.TO vs. FHI.TO
BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and FHI.TO (CI Health Care Giants Covered Call ETF) are both exchange-traded funds - BTCX-B.TO is a Cryptocurrency fund tracking the No Index (Physical Bitcoin), while FHI.TO is a Derivative Income fund actively managed by CI. BTCX-B.TO is passively managed, while FHI.TO is actively managed. Over the past 5 years, BTCX-B.TO returned 11.20%/yr vs 5.79%/yr for FHI.TO. Their 0.07 correlation means their historical movements had little consistent relationship. BTCX-B.TO charges 0.80%/yr vs 0.71%/yr for FHI.TO.
Performance
BTCX-B.TO vs. FHI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BTCX-B.TO achieves a -26.95% return, which is significantly lower than FHI.TO's 6.56% 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%
FHI.TO
- 1D
- -0.18%
- 1M
- 2.27%
- 6M
- 5.17%
- YTD
- 6.56%
- 1Y
- 21.85%
- 3Y*
- 6.41%
- 5Y*
- 5.79%
- 10Y*
- —
- ALL TIME*
- 8.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$935.28K | CA$1.05M | CA$1.72M | |
| CA$57.95K | CA$52.32K | CA$59.14K |
BTCX-B.TO vs. FHI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | -26.95% | -11.32% | 139.01% | 149.40% | -62.06% | -18.60% |
FHI.TO CI Health Care Giants Covered Call ETF | 6.56% | 11.94% | -0.77% | 0.77% | 1.73% | 24.43% |
Correlation
The correlation between BTCX-B.TO and FHI.TO is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.07 |
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Return for Risk
BTCX-B.TO vs. FHI.TO — Risk / Return Rank
BTCX-B.TO
FHI.TO
BTCX-B.TO vs. FHI.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 CI Health Care Giants Covered Call ETF (FHI.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 | FHI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -4.20 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.30 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 2.52 | -3.39 |
| Martin ratioReturn relative to average drawdown | -1.31 | 5.86 | -7.16 |
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Drawdowns
BTCX-B.TO vs. FHI.TO - Drawdown Comparison
The maximum BTCX-B.TO drawdown since its inception was -75.26%, which is greater than FHI.TO's maximum drawdown of -29.85%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and FHI.TO.
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Drawdown Indicators
| BTCX-B.TO | FHI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.26% | -29.85% | -45.41% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -8.87% | -43.84% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | -14.43% | -38.28% |
Max Drawdown (5Y)Largest decline over 5 years | -75.26% | -14.43% | -60.83% |
Current DrawdownCurrent decline from peak | -49.98% | -1.76% | -48.22% |
Average DrawdownAverage peak-to-trough decline | -33.43% | -4.42% | -29.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.25% | 3.80% | +31.45% |
Volatility
BTCX-B.TO vs. FHI.TO - Volatility Comparison
CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a higher volatility of 8.27% compared to CI Health Care Giants Covered Call ETF (FHI.TO) at 4.63%. This indicates that BTCX-B.TO's price experiences larger fluctuations and is considered to be riskier than FHI.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 | FHI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.27% | 4.63% | +3.64% |
Volatility (6M)Calculated over the trailing 6-month period | 33.34% | 10.12% | +23.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.84% | 14.01% | +29.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.26% | 14.24% | +38.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.52% | 16.54% | +37.98% |
BTCX-B.TO vs. FHI.TO - Expense Ratio Comparison
BTCX-B.TO has a 0.80% expense ratio, which is higher than FHI.TO's 0.71% expense ratio.
Dividends
BTCX-B.TO vs. FHI.TO - Dividend Comparison
BTCX-B.TO has not paid dividends to shareholders, while FHI.TO's dividend yield for the trailing twelve months is around 7.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FHI.TO CI Health Care Giants Covered Call ETF | 7.34% | 7.14% | 7.84% | 5.80% | 5.98% | 7.38% | 9.69% | 5.42% | 2.42% |
Frequently Asked Questions
BTCX-B.TO and FHI.TO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FHI.TO is cheaper at 0.71% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FHI.TO is cheaper with a 0.71% expense ratio, compared with 0.80% for BTCX-B.TO.
BTCX-B.TO is categorized as Cryptocurrency, while FHI.TO is Derivative Income. Their fees differ too: 0.80% for BTCX-B.TO and 0.71% for FHI.TO.
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