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

Last updated Jul 16, 2026

BTCY-U.TO (Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units) and BTCY-B.TO (Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units) are both Cryptocurrency funds from Purpose. Both are actively managed. Over the past 3 years, BTCY-U.TO returned 19.72%/yr vs 19.34%/yr for BTCY-B.TO. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

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

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

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with BTCY-U.TO having a -28.63% return and BTCY-B.TO slightly lower at -28.73%.

BTCY-U.TO

• 1D: 0.92%
• 1M: -1.07%
• 6M: -33.64%
• YTD: -28.63%
• 1Y: -47.26%
• 3Y*: 19.72%
• 5Y*: —
• 10Y*: —

BTCY-B.TO

• 1D: 1.26%
• 1M: -2.62%
• 6M: -35.73%
• YTD: -28.73%
• 1Y: -46.11%
• 3Y*: 19.34%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
BTCY-U.TO Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units	-28.63%	-7.68%	98.24%	113.02%	-64.87%	-15.84%
BTCY-B.TO Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units	-28.73%	-7.27%	96.81%	112.26%	-63.08%	-20.15%

Correlation

The correlation between BTCY-U.TO and BTCY-B.TO is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021	0.64

The correlation between BTCY-U.TO and BTCY-B.TO has been stable across timeframes, ranging from 0.61 to 0.64 - a consistent structural relationship.

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTCY-U.TO

BTCY-U.TO Risk / Return Rank: 2
BTCY-U.TO Sharpe Ratio Rank: 2
BTCY-U.TO Sortino Ratio Rank: 2
BTCY-U.TO Omega Ratio Rank: 2
BTCY-U.TO Calmar Ratio Rank: 2
BTCY-U.TO Martin Ratio Rank: 1

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

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-U.TO vs. BTCY-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units (BTCY-U.TO) and Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.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-U.TO	BTCY-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	-0.93	-0.04
Sortino ratio: Return per unit of downside risk	-1.42	-1.34	-0.08
Omega ratio: Gain probability vs. loss probability	0.83	0.85	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.86	-0.83	-0.03
Martin ratio: Return relative to average drawdown	-1.42	-1.38	-0.04

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

The current BTCY-U.TO Sharpe Ratio is -0.98, which is comparable to the BTCY-B.TO Sharpe Ratio of -0.93. The chart below compares the historical Sharpe Ratios of BTCY-U.TO and BTCY-B.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-U.TO vs. BTCY-B.TO - Drawdown Comparison

The maximum BTCY-U.TO drawdown since its inception was -71.23%, roughly equal to the maximum BTCY-B.TO drawdown of -72.43%. Use the drawdown chart below to compare losses from any high point for BTCY-U.TO and BTCY-B.TO.

Drawdown Indicators

	BTCY-U.TO	BTCY-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-71.23%	-72.43%	+1.20%
Max Drawdown (1Y) Largest decline over 1 year	-55.02%	-55.51%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-55.02%	-55.51%	+0.49%
Current Drawdown Current decline from peak	-49.22%	-49.60%	+0.38%
Average Drawdown Average peak-to-trough decline	-32.82%	-34.30%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.43%	33.52%	-0.09%

Volatility

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

The current volatility for Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units (BTCY-U.TO) is 11.75%, while Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) has a volatility of 13.06%. This indicates that BTCY-U.TO experiences smaller price fluctuations and is considered to be less risky than BTCY-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCY-U.TO	BTCY-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.75%	13.06%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	40.85%	41.97%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	48.60%	49.68%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.36%	49.98%	+1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.36%	49.98%	+1.38%

Dividends

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

BTCY-U.TO's dividend yield for the trailing twelve months is around 22.43%, more than BTCY-B.TO's 21.56% 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%
BTCY-U.TO Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units	22.43%	14.50%	8.02%	10.77%	29.84%	1.21%

Frequently Asked Questions

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

BTCY-U.TO and BTCY-B.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.