BTCX-B.TO vs. SOLQ.TO

Last updated Aug 4, 2026

BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and SOLQ.TO (3iQ Solana Staking ETF) are both Cryptocurrency funds - BTCX-B.TO tracks the No Index (Physical Bitcoin) while SOLQ.TO tracks the CME CF Solana-Dollar Reference Rate - New York Variant. Both are passively managed. Over the past year, BTCX-B.TO returned -44.02% vs -54.00% for SOLQ.TO. Their correlation of 0.85 means they have usually moved in the same direction. BTCX-B.TO charges 0.80%/yr vs 0.15%/yr for SOLQ.TO.

Performance

BTCX-B.TO vs. SOLQ.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 3iQ Solana Staking ETF (SOLQ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCX-B.TO achieves a -26.95% return, which is significantly higher than SOLQ.TO's -38.75% 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%

SOLQ.TO

• 1D: -2.23%
• 1M: -12.32%
• 6M: -26.74%
• YTD: -38.75%
• 1Y: -54.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -32.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	CA$935.28K	CA$1.05M	CA$1.72M
SOLQ.TO 3iQ Solana Staking ETF	CA$139.36K	CA$147.53K	CA$235.73K

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

	2026 (YTD)	2025
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	-26.95%	1.74%
SOLQ.TO 3iQ Solana Staking ETF	-38.75%	-1.38%

Correlation

The correlation between BTCX-B.TO and SOLQ.TO is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.85

The correlation between BTCX-B.TO and SOLQ.TO has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

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

Compare historical risk-adjusted metric ranks over the past 12 months.

BTCX-B.TO

BTCX-B.TO Risk / Return Rank: 2
BTCX-B.TO Sharpe Ratio Rank: 1
BTCX-B.TO Sortino Ratio Rank: 2
BTCX-B.TO Omega Ratio Rank: 2
BTCX-B.TO Calmar Ratio Rank: 2
BTCX-B.TO Martin Ratio Rank: 2

SOLQ.TO

SOLQ.TO Risk / Return Rank: 3
SOLQ.TO Sharpe Ratio Rank: 3
SOLQ.TO Sortino Ratio Rank: 3
SOLQ.TO Omega Ratio Rank: 3
SOLQ.TO Calmar Ratio Rank: 3
SOLQ.TO Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BTCX-B.TO vs. SOLQ.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 3iQ Solana Staking ETF (SOLQ.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	SOLQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-0.79	-0.26
Sortino ratio: Return per unit of downside risk	-1.60	-1.14	-0.46
Omega ratio: Gain probability vs. loss probability	0.83	0.88	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.77	-0.10
Martin ratio: Return relative to average drawdown	-1.31	-1.08	-0.22

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

The current BTCX-B.TO Sharpe Ratio is -1.05, which is lower than the SOLQ.TO Sharpe Ratio of -0.79. The chart below compares the historical Sharpe Ratios of BTCX-B.TO and SOLQ.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.

Drawdowns

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

The maximum BTCX-B.TO drawdown since its inception was -75.26%, roughly equal to the maximum SOLQ.TO drawdown of -73.59%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and SOLQ.TO.

Drawdown Indicators

	BTCX-B.TO	SOLQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-75.26%	-73.59%	-1.67%
Max Drawdown (1Y) Largest decline over 1 year	-52.71%	-73.59%	+20.88%
Max Drawdown (3Y) Largest decline over 3 years	-52.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-75.26%	—	—
Current Drawdown Current decline from peak	-49.98%	-69.32%	+19.34%
Average Drawdown Average peak-to-trough decline	-33.43%	-38.45%	+5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.25%	52.25%	-17.00%

Volatility

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

The current volatility for CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) is 8.27%, while 3iQ Solana Staking ETF (SOLQ.TO) has a volatility of 10.16%. This indicates that BTCX-B.TO experiences smaller price fluctuations and is considered to be less risky than SOLQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCX-B.TO	SOLQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.27%	10.16%	-1.89%
Volatility (6M) Calculated over the trailing 6-month period	33.34%	50.04%	-16.70%
Volatility (1Y) Calculated over the trailing 1-year period	43.84%	71.89%	-28.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.26%	70.15%	-17.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.52%	70.15%	-15.63%

BTCX-B.TO vs. SOLQ.TO - Expense Ratio Comparison

BTCX-B.TO has a 0.80% expense ratio, which is higher than SOLQ.TO's 0.15% expense ratio.

Dividends

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

Neither BTCX-B.TO nor SOLQ.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BTCX-B.TO and SOLQ.TO in my portfolio?

BTCX-B.TO and SOLQ.TO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BTCX-B.TO or SOLQ.TO?

On fees, SOLQ.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BTCX-B.TO or SOLQ.TO?

SOLQ.TO is cheaper with a 0.15% expense ratio, compared with 0.80% for BTCX-B.TO.

What is the main difference between BTCX-B.TO and SOLQ.TO?

BTCX-B.TO tracks No Index (Physical Bitcoin), while SOLQ.TO tracks CME CF Solana-Dollar Reference Rate - New York Variant. They also come from different issuers: CI and 3iQ. Their fees differ too: 0.80% for BTCX-B.TO and 0.15% for SOLQ.TO.