BTCY-B.TO vs. ETHY-U.TO

Last updated Jul 16, 2026

BTCY-B.TO (Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units) and ETHY-U.TO (Purpose Ether Yield ETF USD Non-Currency Hedged Units) are both Cryptocurrency funds from Purpose. Both are actively managed. Over the past 3 years, BTCY-B.TO returned 22.12%/yr vs -11.14%/yr for ETHY-U.TO. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

BTCY-B.TO vs. ETHY-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 Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BTCY-B.TO is traded in CAD, while ETHY-U.TO is traded in USD. To make them comparable, the ETHY-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 ETHY-U.TO's -39.45% return.

BTCY-B.TO

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

ETHY-U.TO

• 1D: 0.81%
• 1M: 5.90%
• 6M: -46.61%
• YTD: -39.45%
• 1Y: -42.01%
• 3Y*: -11.14%
• 5Y*: —
• 10Y*: —

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

BTCY-B.TO vs. ETHY-U.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%	-7.31%
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units	-39.45%	-18.68%	26.49%	48.65%	-70.76%	-10.04%

Correlation

The correlation between BTCY-B.TO and ETHY-U.TO is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Dec 22, 2021	0.54

The correlation between BTCY-B.TO and ETHY-U.TO shifts across timeframes, from 0.51 (3 years) to 0.66 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BTCY-B.TO vs. ETHY-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: 2
BTCY-B.TO Sharpe Ratio Rank: 2
BTCY-B.TO Sortino Ratio Rank: 3
BTCY-B.TO Omega Ratio Rank: 3
BTCY-B.TO Calmar Ratio Rank: 2
BTCY-B.TO Martin Ratio Rank: 2

ETHY-U.TO

ETHY-U.TO Risk / Return Rank: 5
ETHY-U.TO Sharpe Ratio Rank: 5
ETHY-U.TO Sortino Ratio Rank: 5
ETHY-U.TO Omega Ratio Rank: 5
ETHY-U.TO Calmar Ratio Rank: 4
ETHY-U.TO Martin Ratio Rank: 5

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. ETHY-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 Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-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.TO	ETHY-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	-0.54	-0.37
Sortino ratio: Return per unit of downside risk	-1.29	-0.45	-0.84
Omega ratio: Gain probability vs. loss probability	0.85	0.95	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.60	-0.22
Martin ratio: Return relative to average drawdown	-1.32	-0.95	-0.36

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

The current BTCY-B.TO Sharpe Ratio is -0.91, which is lower than the ETHY-U.TO Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of BTCY-B.TO and ETHY-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.

Drawdowns

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

The maximum BTCY-B.TO drawdown since its inception was -71.05%, smaller than the maximum ETHY-U.TO drawdown of -81.32%. Use the drawdown chart below to compare losses from any high point for BTCY-B.TO and ETHY-U.TO.

Drawdown Indicators

	BTCY-B.TO	ETHY-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-71.05%	-81.32%	+10.27%
Max Drawdown (1Y) Largest decline over 1 year	-54.74%	-70.17%	+15.43%
Max Drawdown (3Y) Largest decline over 3 years	-54.74%	-70.17%	+15.43%
Current Drawdown Current decline from peak	-49.29%	-76.11%	+26.82%
Average Drawdown Average peak-to-trough decline	-32.78%	-60.30%	+27.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.96%	44.08%	-10.12%

Volatility

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

The current volatility for Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) is 12.61%, while Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.TO) has a volatility of 31.17%. This indicates that BTCY-B.TO experiences smaller price fluctuations and is considered to be less risky than ETHY-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCY-B.TO	ETHY-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.61%	31.17%	-18.56%
Volatility (6M) Calculated over the trailing 6-month period	41.57%	62.05%	-20.48%
Volatility (1Y) Calculated over the trailing 1-year period	49.43%	78.12%	-28.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.69%	68.77%	-19.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.69%	68.77%	-19.08%

Dividends

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

BTCY-B.TO's dividend yield for the trailing twelve months is around 21.56%, less than ETHY-U.TO's 40.75% yield.

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%
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units	40.75%	18.89%	3.10%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTCY-B.TO and ETHY-U.TO in my portfolio?

BTCY-B.TO and ETHY-U.TO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.