BTCX-B.TO vs. XEG.TO

Last updated Jun 4, 2026

BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and XEG.TO (iShares S&P/TSX Capped Energy Index ETF) are both exchange-traded funds - BTCX-B.TO is a Cryptocurrency fund managed by CI Global Asset Management, while XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index. Over the past 5 years, BTCX-B.TO returned 14.29%/yr vs 29.48%/yr for XEG.TO. At a 0.11 correlation, their price movements are largely independent. BTCX-B.TO charges 0.80%/yr vs 0.61%/yr for XEG.TO.

Performance

BTCX-B.TO vs. XEG.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 iShares S&P/TSX Capped Energy Index ETF (XEG.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 XEG.TO's 44.34% 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*: —

XEG.TO

• 1D: 1.17%
• 1M: -0.04%
• YTD: 44.34%
• 6M: 39.73%
• 1Y: 70.40%
• 3Y*: 28.08%
• 5Y*: 29.48%
• 10Y*: 11.85%

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

BTCX-B.TO vs. XEG.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%
XEG.TO iShares S&P/TSX Capped Energy Index ETF	44.34%	16.72%	14.08%	3.52%	53.25%	38.43%

Correlation

The correlation between BTCX-B.TO and XEG.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Mar 10, 2021	0.11

Return for Risk

BTCX-B.TO vs. XEG.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

XEG.TO

XEG.TO Risk / Return Rank: 86
XEG.TO Sharpe Ratio Rank: 89
XEG.TO Sortino Ratio Rank: 80
XEG.TO Omega Ratio Rank: 80
XEG.TO Calmar Ratio Rank: 92
XEG.TO Martin Ratio Rank: 87

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. XEG.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 iShares S&P/TSX Capped Energy Index ETF (XEG.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	XEG.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	3.11	-4.01
Sortino ratio: Return per unit of downside risk	-1.24	3.66	-4.90
Omega ratio: Gain probability vs. loss probability	0.86	1.49	-0.63
Calmar ratio: Return relative to maximum drawdown	-0.76	6.36	-7.12
Martin ratio: Return relative to average drawdown	-1.32	19.02	-20.34
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. XEG.TO - Sharpe Ratio Comparison

The current BTCX-B.TO Sharpe Ratio is -0.90, which is lower than the XEG.TO Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of BTCX-B.TO and XEG.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	XEG.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	3.11	-4.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	1.04	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.28	-0.20

Drawdowns

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

The maximum BTCX-B.TO drawdown since its inception was -75.26%, smaller than the maximum XEG.TO drawdown of -87.74%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and XEG.TO.

Drawdown Indicators

	BTCX-B.TO	XEG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-75.26%	-87.74%	+12.48%
Max Drawdown (1Y) Largest decline over 1 year	-50.41%	-11.12%	-39.29%
Max Drawdown (3Y) Largest decline over 3 years	-50.41%	-25.67%	-24.74%
Max Drawdown (5Y) Largest decline over 5 years	-75.26%	-28.42%	-46.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-79.66%	—
Current Drawdown Current decline from peak	-48.50%	-4.00%	-44.50%
Average Drawdown Average peak-to-trough decline	-32.95%	-29.19%	-3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.08%	3.71%	+25.37%

Volatility

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

CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a higher volatility of 9.83% compared to iShares S&P/TSX Capped Energy Index ETF (XEG.TO) at 9.31%. This indicates that BTCX-B.TO's price experiences larger fluctuations and is considered to be riskier than XEG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCX-B.TO	XEG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.83%	9.31%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	33.96%	18.99%	+14.97%
Volatility (1Y) Calculated over the trailing 1-year period	42.89%	22.76%	+20.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.13%	28.62%	+25.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.99%	33.41%	+21.58%

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

BTCX-B.TO has a 0.80% expense ratio, which is higher than XEG.TO's 0.61% expense ratio.

Dividends

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

BTCX-B.TO has not paid dividends to shareholders, while XEG.TO's dividend yield for the trailing twelve months is around 2.65%.

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%
XEG.TO iShares S&P/TSX Capped Energy Index ETF	2.65%	3.63%	3.46%	4.26%	3.31%	1.64%	2.96%	2.70%	2.25%	1.41%	1.40%	3.58%

Frequently Asked Questions

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

BTCX-B.TO and XEG.TO have a correlation of 0.04, 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 XEG.TO?

On fees, XEG.TO is cheaper at 0.61% 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 XEG.TO?

XEG.TO is cheaper with a 0.61% expense ratio, compared with 0.80% for BTCX-B.TO.

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

BTCX-B.TO is categorized as Cryptocurrency, while XEG.TO is Energy Equities. They also come from different issuers: CI Global Asset Management and iShares. Their fees differ too: 0.80% for BTCX-B.TO and 0.61% for XEG.TO.