BTCX-B.TO vs. IBIT
Compare and contrast key facts about CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) and iShares Bitcoin Trust ETF (IBIT).
BTCX-B.TO and IBIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTCX-B.TO is managed by CI Global Asset Management. It was launched on Mar 5, 2021. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024.
Performance
BTCX-B.TO vs. IBIT - Performance Comparison
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BTCX-B.TO vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | -21.37% | -11.32% | 115.58% |
IBIT iShares Bitcoin Trust ETF | -21.19% | -10.70% | 113.89% |
Different Trading Currencies
BTCX-B.TO is traded in CAD, while IBIT is traded in USD. To make them comparable, the IBIT values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with BTCX-B.TO having a -21.37% return and IBIT slightly lower at -21.57%.
BTCX-B.TO
- 1D
- 0.29%
- 1M
- -0.07%
- YTD
- -21.37%
- 6M
- -42.48%
- 1Y
- -22.73%
- 3Y*
- 33.89%
- 5Y*
- 4.15%
- 10Y*
- —
IBIT
- 1D
- 0.00%
- 1M
- -0.30%
- YTD
- -21.57%
- 6M
- -42.55%
- 1Y
- -22.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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BTCX-B.TO vs. IBIT - Expense Ratio Comparison
BTCX-B.TO has a 0.80% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Return for Risk
BTCX-B.TO vs. IBIT — Risk / Return Rank
BTCX-B.TO
IBIT
BTCX-B.TO vs. IBIT - 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 iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.51 | -0.51 | 0.00 |
Sortino ratioReturn per unit of downside risk | -0.49 | -0.48 | -0.01 |
Omega ratioGain probability vs. loss probability | 0.94 | 0.94 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | -0.41 | -0.41 | 0.00 |
Martin ratioReturn relative to average drawdown | -0.87 | -0.87 | 0.00 |
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 | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.51 | -0.51 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.40 | -0.30 |
Correlation
The correlation between BTCX-B.TO and IBIT is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BTCX-B.TO vs. IBIT - Dividend Comparison
Neither BTCX-B.TO nor IBIT has paid dividends to shareholders.
Drawdowns
BTCX-B.TO vs. IBIT - Drawdown Comparison
The maximum BTCX-B.TO drawdown since its inception was -75.26%, which is greater than IBIT's maximum drawdown of -50.21%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and IBIT.
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Drawdown Indicators
| BTCX-B.TO | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.26% | -49.36% | -25.90% |
Max Drawdown (1Y)Largest decline over 1 year | -50.41% | -49.36% | -1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -75.26% | — | — |
Current DrawdownCurrent decline from peak | -46.16% | -45.80% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -32.69% | -14.18% | -18.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.80% | 23.27% | +0.53% |
Volatility
BTCX-B.TO vs. IBIT - Volatility Comparison
CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) and iShares Bitcoin Trust ETF (IBIT) have volatilities of 12.91% and 12.85%, 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 | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.91% | 12.85% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 36.44% | 36.37% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.76% | 44.85% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.65% | 50.57% | +5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.56% | 50.57% | +4.99% |