BTCX-B.TO vs. VMO
BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) is Cryptocurrency fund managed by CI Global Asset Management, while VMO (Invesco Municipal Opportunity Trust) is a stock. Over the past 5 years, BTCX-B.TO returned 13.52%/yr vs 2.26%/yr for VMO. At a 0.10 correlation, their price movements are largely independent.
Performance
BTCX-B.TO vs. VMO - Performance Comparison
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Different Trading Currencies
BTCX-B.TO is traded in CAD, while VMO is traded in USD. To make them comparable, the VMO values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BTCX-B.TO achieves a -26.21% return, which is significantly lower than VMO's 7.44% 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*
- —
VMO
- 1D
- 0.29%
- 1M
- 2.67%
- YTD
- 7.44%
- 6M
- 6.94%
- 1Y
- 18.48%
- 3Y*
- 9.87%
- 5Y*
- 2.26%
- 10Y*
- 2.60%
BTCX-B.TO vs. VMO - 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% |
VMO Invesco Municipal Opportunity Trust | 7.32% | 1.71% | 16.85% | -0.87% | -19.49% | 10.36% |
Correlation
The correlation between BTCX-B.TO and VMO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.10 |
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Return for Risk
BTCX-B.TO vs. VMO — Risk / Return Rank
BTCX-B.TO
VMO
BTCX-B.TO vs. VMO - 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 Invesco Municipal Opportunity Trust (VMO). 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 | VMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.78 | ||
| Sortino ratioReturn per unit of downside risk | -4.08 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.33 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 3.37 | -4.12 |
| Martin ratioReturn relative to average drawdown | -1.30 | 10.79 | -12.09 |
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Drawdowns
BTCX-B.TO vs. VMO - Drawdown Comparison
The maximum BTCX-B.TO drawdown since its inception was -75.26%, which is greater than VMO's maximum drawdown of -49.15%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and VMO.
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Drawdown Indicators
| BTCX-B.TO | VMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.26% | -49.15% | -26.11% |
Max Drawdown (1Y)Largest decline over 1 year | -52.20% | -5.51% | -46.69% |
Max Drawdown (3Y)Largest decline over 3 years | -52.20% | -13.33% | -38.87% |
Max Drawdown (5Y)Largest decline over 5 years | -75.26% | -33.18% | -42.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.18% | — |
Current DrawdownCurrent decline from peak | -49.47% | 0.00% | -49.47% |
Average DrawdownAverage peak-to-trough decline | -33.02% | -10.61% | -22.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.26% | 1.72% | +28.54% |
Volatility
BTCX-B.TO vs. VMO - Volatility Comparison
CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a higher volatility of 12.13% compared to Invesco Municipal Opportunity Trust (VMO) at 3.51%. This indicates that BTCX-B.TO's price experiences larger fluctuations and is considered to be riskier than VMO 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 | VMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.13% | 3.51% | +8.62% |
Volatility (6M)Calculated over the trailing 6-month period | 33.85% | 7.55% | +26.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.22% | 9.95% | +33.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.90% | 13.07% | +40.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.95% | 14.08% | +40.87% |
Dividends
BTCX-B.TO vs. VMO - Dividend Comparison
BTCX-B.TO has not paid dividends to shareholders, while VMO's dividend yield for the trailing twelve months is around 7.69%.
| 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% |
VMO Invesco Municipal Opportunity Trust | 7.69% | 7.84% | 6.44% | 4.47% | 5.69% | 4.64% | 4.66% | 4.94% | 5.95% | 5.98% | 6.73% | 6.33% |
Frequently Asked Questions
BTCX-B.TO and VMO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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