BTCX-B.TO vs. VDY.TO

Last updated Jun 4, 2026

BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) are both exchange-traded funds - BTCX-B.TO is a Cryptocurrency fund managed by CI Global Asset Management, while VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index. Over the past 5 years, BTCX-B.TO returned 14.29%/yr vs 17.21%/yr for VDY.TO. At a 0.20 correlation, their price movements are largely independent. BTCX-B.TO charges 0.80%/yr vs 0.22%/yr for VDY.TO.

Performance

BTCX-B.TO vs. VDY.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 Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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 -24.79% return, which is significantly lower than VDY.TO's 20.59% 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*: —

VDY.TO

• 1D: -0.07%
• 1M: 4.52%
• YTD: 20.59%
• 6M: 22.32%
• 1Y: 46.18%
• 3Y*: 26.00%
• 5Y*: 17.21%
• 10Y*: 14.02%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	-24.79%	-11.32%	139.01%	149.40%	-62.06%	-16.98%
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF	20.59%	29.20%	20.71%	8.40%	-0.23%	20.14%

Correlation

The correlation between BTCX-B.TO and VDY.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Mar 10, 2021	0.20

Return for Risk

BTCX-B.TO vs. VDY.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: 2
BTCX-B.TO Sharpe Ratio Rank: 2
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

VDY.TO

VDY.TO Risk / Return Rank: 98
VDY.TO Sharpe Ratio Rank: 98
VDY.TO Sortino Ratio Rank: 98
VDY.TO Omega Ratio Rank: 98
VDY.TO Calmar Ratio Rank: 98
VDY.TO Martin Ratio Rank: 98

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. VDY.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 Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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.TO	VDY.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	5.65	-6.55
Sortino ratio: Return per unit of downside risk	-1.24	8.14	-9.38
Omega ratio: Gain probability vs. loss probability	0.86	2.14	-1.28
Calmar ratio: Return relative to maximum drawdown	-0.76	14.88	-15.64
Martin ratio: Return relative to average drawdown	-1.32	60.75	-62.07
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. VDY.TO - Sharpe Ratio Comparison

The current BTCX-B.TO Sharpe Ratio is -0.90, which is lower than the VDY.TO Sharpe Ratio of 5.65. The chart below compares the historical Sharpe Ratios of BTCX-B.TO and VDY.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.

Sharpe Ratios by Period

	BTCX-B.TO	VDY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	5.65	-6.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	1.50	-1.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.84	-0.76

Drawdowns

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

The maximum BTCX-B.TO drawdown since its inception was -75.26%, which is greater than VDY.TO's maximum drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and VDY.TO.

Drawdown Indicators

	BTCX-B.TO	VDY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-75.26%	-39.21%	-36.05%
Max Drawdown (1Y) Largest decline over 1 year	-50.41%	-3.12%	-47.29%
Max Drawdown (3Y) Largest decline over 3 years	-50.41%	-10.87%	-39.54%
Max Drawdown (5Y) Largest decline over 5 years	-75.26%	-16.18%	-59.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.21%	—
Current Drawdown Current decline from peak	-48.50%	-0.77%	-47.73%
Average Drawdown Average peak-to-trough decline	-32.95%	-4.61%	-28.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.08%	0.76%	+28.32%

Volatility

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

CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a higher volatility of 9.83% compared to Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) at 3.31%. This indicates that BTCX-B.TO's price experiences larger fluctuations and is considered to be riskier than VDY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCX-B.TO	VDY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.83%	3.31%	+6.52%
Volatility (6M) Calculated over the trailing 6-month period	33.96%	6.87%	+27.09%
Volatility (1Y) Calculated over the trailing 1-year period	42.89%	8.21%	+34.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.13%	11.56%	+42.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.99%	15.96%	+39.03%

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

BTCX-B.TO has a 0.80% expense ratio, which is higher than VDY.TO's 0.22% expense ratio.

Dividends

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

BTCX-B.TO has not paid dividends to shareholders, while VDY.TO's dividend yield for the trailing twelve months is around 2.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF	2.90%	3.59%	4.40%	4.64%	4.42%	3.58%	4.59%	4.25%	4.43%	3.82%	3.25%	4.11%

Frequently Asked Questions

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

BTCX-B.TO and VDY.TO have a correlation of 0.23, 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 VDY.TO?

On fees, VDY.TO is cheaper at 0.22% 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 VDY.TO?

VDY.TO is cheaper with a 0.22% expense ratio, compared with 0.80% for BTCX-B.TO.

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

BTCX-B.TO is categorized as Cryptocurrency, while VDY.TO is Dividend. They also come from different issuers: CI Global Asset Management and Vanguard. Their fees differ too: 0.80% for BTCX-B.TO and 0.22% for VDY.TO.