BTCX-B.TO vs. VEE.TO

Last updated Jun 13, 2026

BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) are both exchange-traded funds - BTCX-B.TO is a Cryptocurrency fund managed by CI Global Asset Management, while VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index. Over the past 5 years, BTCX-B.TO returned 13.52%/yr vs 7.31%/yr for VEE.TO. At a 0.28 correlation, their price movements are largely independent. BTCX-B.TO charges 0.80%/yr vs 0.25%/yr for VEE.TO.

Performance

BTCX-B.TO vs. VEE.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 Emerging Markets All Cap Index ETF (VEE.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 -26.21% return, which is significantly lower than VEE.TO's 12.66% return.

BTCX-B.TO

• 1D: 0.31%
• 1M: -20.55%
• YTD: -26.21%
• 6M: -28.69%
• 1Y: -38.22%
• 3Y*: 36.16%
• 5Y*: 13.52%
• 10Y*: —

VEE.TO

• 1D: 0.97%
• 1M: 1.13%
• YTD: 12.66%
• 6M: 13.92%
• 1Y: 29.56%
• 3Y*: 17.76%
• 5Y*: 7.31%
• 10Y*: 9.34%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	-26.21%	-11.32%	139.01%	149.40%	-62.06%	-18.60%
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF	12.66%	19.32%	19.06%	6.24%	-12.79%	-1.64%

Correlation

The correlation between BTCX-B.TO and VEE.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021	0.28

The correlation between BTCX-B.TO and VEE.TO shifts across timeframes, from 0.25 (3 years) to 0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BTCX-B.TO vs. VEE.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: 3
BTCX-B.TO Sharpe Ratio Rank: 2
BTCX-B.TO Sortino Ratio Rank: 3
BTCX-B.TO Omega Ratio Rank: 3
BTCX-B.TO Calmar Ratio Rank: 3
BTCX-B.TO Martin Ratio Rank: 3

VEE.TO

VEE.TO Risk / Return Rank: 59
VEE.TO Sharpe Ratio Rank: 59
VEE.TO Sortino Ratio Rank: 59
VEE.TO Omega Ratio Rank: 62
VEE.TO Calmar Ratio Rank: 58
VEE.TO Martin Ratio Rank: 59

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. VEE.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 Emerging Markets All Cap Index ETF (VEE.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	VEE.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	1.72	-2.64
Sortino ratio: Return per unit of downside risk	-1.28	2.41	-3.69
Omega ratio: Gain probability vs. loss probability	0.86	1.33	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.76	2.56	-3.32
Martin ratio: Return relative to average drawdown	-1.30	9.14	-10.45

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

The current BTCX-B.TO Sharpe Ratio is -0.91, which is lower than the VEE.TO Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of BTCX-B.TO and VEE.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. VEE.TO - Drawdown Comparison

The maximum BTCX-B.TO drawdown since its inception was -75.26%, which is greater than VEE.TO's maximum drawdown of -29.84%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and VEE.TO.

Drawdown Indicators

	BTCX-B.TO	VEE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-75.26%	-29.84%	-45.42%
Max Drawdown (1Y) Largest decline over 1 year	-52.20%	-10.74%	-41.46%
Max Drawdown (3Y) Largest decline over 3 years	-52.20%	-14.97%	-37.23%
Max Drawdown (5Y) Largest decline over 5 years	-75.26%	-26.10%	-49.16%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.84%	—
Current Drawdown Current decline from peak	-49.47%	-1.67%	-47.80%
Average Drawdown Average peak-to-trough decline	-33.02%	-8.72%	-24.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.26%	3.01%	+27.25%

Volatility

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

CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a higher volatility of 12.13% compared to Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) at 6.96%. This indicates that BTCX-B.TO's price experiences larger fluctuations and is considered to be riskier than VEE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCX-B.TO	VEE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.13%	6.96%	+5.17%
Volatility (6M) Calculated over the trailing 6-month period	33.85%	13.66%	+20.19%
Volatility (1Y) Calculated over the trailing 1-year period	43.22%	15.97%	+27.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.90%	15.42%	+38.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.95%	17.01%	+37.94%

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

BTCX-B.TO has a 0.80% expense ratio, which is higher than VEE.TO's 0.25% expense ratio.

Dividends

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

BTCX-B.TO has not paid dividends to shareholders, while VEE.TO's dividend yield for the trailing twelve months is around 1.93%.

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%
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF	1.93%	2.26%	2.45%	2.83%	3.35%	2.18%	1.62%	2.71%	2.24%	1.93%	2.01%	2.53%

Frequently Asked Questions

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

BTCX-B.TO and VEE.TO have a correlation of 0.44, 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 VEE.TO?

On fees, VEE.TO is cheaper at 0.25% 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 VEE.TO?

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.80% for BTCX-B.TO.

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

BTCX-B.TO is categorized as Cryptocurrency, while VEE.TO is Emerging Markets Equities. They also come from different issuers: CI Global Asset Management and Vanguard. Their fees differ too: 0.80% for BTCX-B.TO and 0.25% for VEE.TO.