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BTCY-B.TO vs. ETHX-U.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BTCY-B.TO vs. ETHX-U.TO

Last updated Jul 16, 2026
Documentation

BTCY-B.TO (Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units) and ETHX-U.TO (CI Galaxy Ethereum ETF (US$ Series)) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BTCY-B.TO returned 22.12%/yr vs 1.86%/yr for ETHX-U.TO. A 0.77 correlation means they provide meaningful diversification when combined.

Performance

BTCY-B.TO vs. ETHX-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) and CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

BTCY-B.TO is traded in CAD, while ETHX-U.TO is traded in USD. To make them comparable, the ETHX-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BTCY-B.TO achieves a -26.88% return, which is significantly higher than ETHX-U.TO's -33.54% return.

BTCY-B.TO

1D
0.56%
1M
-2.01%
6M
-34.97%
YTD
-26.88%
1Y
-44.74%
3Y*
22.12%
5Y*
—
10Y*
—

ETHX-U.TO

1D
1.93%
1M
6.35%
6M
-42.48%
YTD
-33.54%
1Y
-35.40%
3Y*
1.86%
5Y*
1.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BTCY-B.TO vs. ETHX-U.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
BTCY-B.TO
Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units		-26.88%-11.51%113.48%107.21%-60.74%-22.33%
ETHX-U.TO
CI Galaxy Ethereum ETF (US$ Series)		-33.54%-15.57%55.61%88.71%-65.91%-17.38%

Correlation

The correlation between BTCY-B.TO and ETHX-U.TO is 0.84, 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

0.84

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 30, 2021

0.77

The correlation between BTCY-B.TO and ETHX-U.TO has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

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Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units

CI Galaxy Ethereum ETF (US$ Series)

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Return for Risk

BTCY-B.TO vs. ETHX-U.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BTCY-B.TO
BTCY-B.TO Risk / Return Rank: 22
Overall Rank
BTCY-B.TO Sharpe Ratio Rank: 22
Sharpe Ratio Rank
BTCY-B.TO Sortino Ratio Rank: 33
Sortino Ratio Rank
BTCY-B.TO Omega Ratio Rank: 33
Omega Ratio Rank
BTCY-B.TO Calmar Ratio Rank: 22
Calmar Ratio Rank
BTCY-B.TO Martin Ratio Rank: 22
Martin Ratio Rank
ETHX-U.TO
ETHX-U.TO Risk / Return Rank: 55
Overall Rank
ETHX-U.TO Sharpe Ratio Rank: 55
Sharpe Ratio Rank
ETHX-U.TO Sortino Ratio Rank: 55
Sortino Ratio Rank
ETHX-U.TO Omega Ratio Rank: 55
Omega Ratio Rank
ETHX-U.TO Calmar Ratio Rank: 55
Calmar Ratio Rank
ETHX-U.TO Martin Ratio Rank: 55
Martin Ratio Rank
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.

BTCY-B.TO vs. ETHX-U.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 CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.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.TOETHX-U.TODifference
Sharpe ratioReturn per unit of total volatility
-0.91
-0.52

-0.39

Sortino ratioReturn per unit of downside risk
-1.29
-0.44

-0.86

Omega ratioGain probability vs. loss probability

0.85

0.95

-0.10

Calmar ratioReturn relative to maximum drawdown

-0.82

-0.52

-0.30

Martin ratioReturn relative to average drawdown

-1.32

-0.81

-0.51

BTCY-B.TO vs. ETHX-U.TO - Sharpe Ratio Comparison

The current BTCY-B.TO Sharpe Ratio is -0.91, which is lower than the ETHX-U.TO Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of BTCY-B.TO and ETHX-U.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.

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Drawdowns

BTCY-B.TO vs. ETHX-U.TO - Drawdown Comparison

The maximum BTCY-B.TO drawdown since its inception was -71.05%, smaller than the maximum ETHX-U.TO drawdown of -78.30%. Use the drawdown chart below to compare losses from any high point for BTCY-B.TO and ETHX-U.TO.

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Drawdown Indicators

BTCY-B.TOETHX-U.TODifference

Max Drawdown

Largest peak-to-trough decline

-71.05%

-78.30%

+7.25%

Max Drawdown (1Y)

Largest decline over 1 year

-54.74%

-67.75%

+13.01%

Max Drawdown (3Y)

Largest decline over 3 years

-54.74%

-67.75%

+13.01%

Max Drawdown (5Y)

Largest decline over 5 years

—

-78.30%

—

Current Drawdown

Current decline from peak

-49.29%

-60.02%

+10.73%

Average Drawdown

Average peak-to-trough decline

-32.78%

-43.12%

+10.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

33.96%

44.00%

-10.04%

Volatility

BTCY-B.TO vs. ETHX-U.TO - Volatility Comparison

The current volatility for Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) is 12.61%, while CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) has a volatility of 14.91%. This indicates that BTCY-B.TO experiences smaller price fluctuations and is considered to be less risky than ETHX-U.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.TOETHX-U.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

12.61%

14.91%

-2.30%

Volatility (6M)

Calculated over the trailing 6-month period

41.57%

46.53%

-4.96%

Volatility (1Y)

Calculated over the trailing 1-year period

49.43%

68.12%

-18.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

49.69%

71.15%

-21.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

49.69%

74.02%

-24.33%

Dividends

BTCY-B.TO vs. ETHX-U.TO - Dividend Comparison

BTCY-B.TO's dividend yield for the trailing twelve months is around 21.56%, while ETHX-U.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021
BTCY-B.TO
Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units		21.56%14.33%7.69%9.31%19.45%1.25%
ETHX-U.TO
CI Galaxy Ethereum ETF (US$ Series)		0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

BTCY-B.TO and ETHX-U.TO have a correlation of 0.84, 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 CI.

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