BTCY-B.TO vs. ETHR.TO
BTCY-B.TO (Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units) and ETHR.TO (Evolve Ether ETF CAD Unhedged Units) are both Cryptocurrency funds. BTCY-B.TO is actively managed, while ETHR.TO is passively managed. Over the past 3 years, BTCY-B.TO returned 22.12%/yr vs 0.00%/yr for ETHR.TO. A 0.79 correlation means they provide meaningful diversification when combined.
Performance
BTCY-B.TO vs. ETHR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BTCY-B.TO achieves a -26.88% return, which is significantly higher than ETHR.TO's -34.72% return.
BTCY-B.TO
- 1D
- 0.56%
- 1M
- -2.01%
- 6M
- -34.97%
- YTD
- -26.88%
- 1Y
- -44.74%
- 3Y*
- 22.12%
- 5Y*
- —
- 10Y*
- —
ETHR.TO
- 1D
- 1.85%
- 1M
- 5.38%
- 6M
- -43.28%
- YTD
- -34.72%
- 1Y
- -36.86%
- 3Y*
- 0.00%
- 5Y*
- 0.25%
- 10Y*
- —
BTCY-B.TO vs. ETHR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCY-B.TO Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units | -26.88% | -11.51% | 113.48% | 107.21% | -60.74% | -22.33% |
ETHR.TO Evolve Ether ETF CAD Unhedged Units | -34.72% | -17.01% | 52.43% | 87.70% | -65.64% | -18.22% |
Correlation
The correlation between BTCY-B.TO and ETHR.TO is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2021 | 0.79 |
The correlation between BTCY-B.TO and ETHR.TO has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
BTCY-B.TO vs. ETHR.TO — Risk / Return Rank
BTCY-B.TO
ETHR.TO
BTCY-B.TO vs. ETHR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.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.
| BTCY-B.TO | ETHR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.94 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.55 | -0.27 |
| Martin ratioReturn relative to average drawdown | -1.32 | -0.84 | -0.48 |
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Drawdowns
BTCY-B.TO vs. ETHR.TO - Drawdown Comparison
The maximum BTCY-B.TO drawdown since its inception was -71.05%, smaller than the maximum ETHR.TO drawdown of -78.36%. Use the drawdown chart below to compare losses from any high point for BTCY-B.TO and ETHR.TO.
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Drawdown Indicators
| BTCY-B.TO | ETHR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.05% | -78.36% | +7.31% |
Max Drawdown (1Y)Largest decline over 1 year | -54.74% | -67.67% | +12.93% |
Max Drawdown (3Y)Largest decline over 3 years | -54.74% | -67.67% | +12.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -78.36% | — |
Current DrawdownCurrent decline from peak | -49.29% | -60.45% | +11.16% |
Average DrawdownAverage peak-to-trough decline | -32.78% | -43.90% | +11.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.96% | 43.83% | -9.87% |
Volatility
BTCY-B.TO vs. ETHR.TO - Volatility Comparison
The current volatility for Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) is 12.61%, while Evolve Ether ETF CAD Unhedged Units (ETHR.TO) has a volatility of 14.29%. This indicates that BTCY-B.TO experiences smaller price fluctuations and is considered to be less risky than ETHR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCY-B.TO | ETHR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.61% | 14.29% | -1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 41.57% | 46.47% | -4.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.43% | 67.05% | -17.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.69% | 68.75% | -19.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.69% | 71.60% | -21.91% |
Dividends
BTCY-B.TO vs. ETHR.TO - Dividend Comparison
BTCY-B.TO's dividend yield for the trailing twelve months is around 21.56%, while ETHR.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BTCY-B.TO Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units | 21.56% | 14.33% | 7.69% | 9.31% | 19.45% | 1.25% |
ETHR.TO Evolve Ether ETF CAD Unhedged Units | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCY-B.TO and ETHR.TO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Purpose and Evolve.
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