BTCX-B.TO vs. XSB.TO
BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) and XSB.TO (iShares Core Canadian Short Term Bond Index ETF) are both exchange-traded funds - BTCX-B.TO is a Cryptocurrency fund managed by CI Global Asset Management, while XSB.TO is a Short-Term Bond fund tracking the FTSE Canada Short Term Overall Bond Index. Over the past 5 years, BTCX-B.TO returned 15.25%/yr vs 2.14%/yr for XSB.TO. At a 0.01 correlation, their price movements are largely independent. BTCX-B.TO charges 0.80%/yr vs 0.10%/yr for XSB.TO.
Performance
BTCX-B.TO vs. XSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BTCX-B.TO achieves a -30.26% return, which is significantly lower than XSB.TO's 1.28% return.
BTCX-B.TO
- 1D
- -1.21%
- 1M
- -19.90%
- YTD
- -30.26%
- 6M
- -29.74%
- 1Y
- -43.57%
- 3Y*
- 27.40%
- 5Y*
- 15.25%
- 10Y*
- —
XSB.TO
- 1D
- -0.08%
- 1M
- 0.52%
- YTD
- 1.28%
- 6M
- 1.25%
- 1Y
- 3.14%
- 3Y*
- 4.97%
- 5Y*
- 2.14%
- 10Y*
- 1.98%
BTCX-B.TO vs. XSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | -30.26% | -11.32% | 139.01% | 149.40% | -62.06% | -18.60% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 1.28% | 3.70% | 5.87% | 4.67% | -4.04% | -0.28% |
Correlation
The correlation between BTCX-B.TO and XSB.TO is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.01 |
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Return for Risk
BTCX-B.TO vs. XSB.TO — Risk / Return Rank
BTCX-B.TO
XSB.TO
BTCX-B.TO vs. XSB.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 Core Canadian Short Term Bond Index ETF (XSB.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 | XSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -3.73 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.31 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 2.14 | -2.97 |
| Martin ratioReturn relative to average drawdown | -1.38 | 7.09 | -8.47 |
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Drawdowns
BTCX-B.TO vs. XSB.TO - Drawdown Comparison
The maximum BTCX-B.TO drawdown since its inception was -75.26%, which is greater than XSB.TO's maximum drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for BTCX-B.TO and XSB.TO.
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Drawdown Indicators
| BTCX-B.TO | XSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.26% | -8.65% | -66.61% |
Max Drawdown (1Y)Largest decline over 1 year | -52.24% | -1.47% | -50.77% |
Max Drawdown (3Y)Largest decline over 3 years | -52.24% | -1.47% | -50.77% |
Max Drawdown (5Y)Largest decline over 5 years | -75.26% | -6.99% | -68.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.65% | — |
Current DrawdownCurrent decline from peak | -52.24% | -0.08% | -52.16% |
Average DrawdownAverage peak-to-trough decline | -33.13% | -0.79% | -32.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.66% | 0.44% | +31.22% |
Volatility
BTCX-B.TO vs. XSB.TO - Volatility Comparison
CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a higher volatility of 13.04% compared to iShares Core Canadian Short Term Bond Index ETF (XSB.TO) at 0.51%. This indicates that BTCX-B.TO's price experiences larger fluctuations and is considered to be riskier than XSB.TO 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 | XSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.04% | 0.51% | +12.53% |
Volatility (6M)Calculated over the trailing 6-month period | 33.91% | 1.63% | +32.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.49% | 2.01% | +41.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.56% | 2.72% | +50.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.87% | 3.40% | +51.47% |
BTCX-B.TO vs. XSB.TO - Expense Ratio Comparison
BTCX-B.TO has a 0.80% expense ratio, which is higher than XSB.TO's 0.10% expense ratio.
Dividends
BTCX-B.TO vs. XSB.TO - Dividend Comparison
BTCX-B.TO has not paid dividends to shareholders, while XSB.TO's dividend yield for the trailing twelve months is around 3.10%.
| 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% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.10% | 3.15% | 3.05% | 2.67% | 2.28% | 2.05% | 2.21% | 2.39% | 2.39% | 2.36% | 2.36% | 2.50% |
Frequently Asked Questions
BTCX-B.TO and XSB.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSB.TO is cheaper with a 0.10% expense ratio, compared with 0.80% for BTCX-B.TO.
BTCX-B.TO is categorized as Cryptocurrency, while XSB.TO is Short-Term Bond. They also come from different issuers: CI Global Asset Management and iShares. Their fees differ too: 0.80% for BTCX-B.TO and 0.10% for XSB.TO.
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