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

Last updated Jul 16, 2026

BTCY-U.TO (Purpose Bitcoin Yield ETF USD 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-U.TO returned 19.72%/yr vs -0.46%/yr for ETHX-U.TO. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

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

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

Returns By Period

In the year-to-date period, BTCY-U.TO achieves a -28.63% return, which is significantly higher than ETHX-U.TO's -35.23% return.

BTCY-U.TO

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

ETHX-U.TO

• 1D: 2.64%
• 1M: 5.69%
• 6M: -43.15%
• YTD: -35.23%
• 1Y: -36.99%
• 3Y*: -0.46%
• 5Y*: -0.57%
• 10Y*: —

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

BTCY-U.TO vs. ETHX-U.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%
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	-35.23%	-11.53%	43.46%	93.31%	-67.94%	-20.17%

Correlation

The correlation between BTCY-U.TO and ETHX-U.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021	0.55

The correlation between BTCY-U.TO and ETHX-U.TO has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.

Return for Risk

BTCY-U.TO vs. ETHX-U.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

ETHX-U.TO

ETHX-U.TO Risk / Return Rank: 5
ETHX-U.TO Sharpe Ratio Rank: 5
ETHX-U.TO Sortino Ratio Rank: 5
ETHX-U.TO Omega Ratio Rank: 5
ETHX-U.TO Calmar Ratio Rank: 5
ETHX-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-U.TO vs. ETHX-U.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 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-U.TO	ETHX-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	-0.55	-0.43
Sortino ratio: Return per unit of downside risk	-1.42	-0.49	-0.93
Omega ratio: Gain probability vs. loss probability	0.83	0.95	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.86	-0.55	-0.32
Martin ratio: Return relative to average drawdown	-1.42	-0.85	-0.57

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

The current BTCY-U.TO Sharpe Ratio is -0.98, which is lower than the ETHX-U.TO Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of BTCY-U.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.

Drawdowns

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

The maximum BTCY-U.TO drawdown since its inception was -71.23%, smaller than the maximum ETHX-U.TO drawdown of -79.05%. Use the drawdown chart below to compare losses from any high point for BTCY-U.TO and ETHX-U.TO.

Drawdown Indicators

	BTCY-U.TO	ETHX-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-71.23%	-79.05%	+7.82%
Max Drawdown (1Y) Largest decline over 1 year	-55.02%	-68.04%	+13.02%
Max Drawdown (3Y) Largest decline over 3 years	-55.02%	-68.04%	+13.02%
Max Drawdown (5Y) Largest decline over 5 years	—	-79.05%	—
Current Drawdown Current decline from peak	-49.22%	-61.14%	+11.92%
Average Drawdown Average peak-to-trough decline	-32.82%	-46.37%	+13.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.43%	43.82%	-10.39%

Volatility

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

The current volatility for Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units (BTCY-U.TO) is 11.75%, while CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) has a volatility of 15.24%. This indicates that BTCY-U.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.

Volatility by Period

	BTCY-U.TO	ETHX-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.75%	15.24%	-3.49%
Volatility (6M) Calculated over the trailing 6-month period	40.85%	46.76%	-5.91%
Volatility (1Y) Calculated over the trailing 1-year period	48.60%	67.88%	-19.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.36%	70.87%	-19.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.36%	73.76%	-22.40%

Dividends

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

BTCY-U.TO's dividend yield for the trailing twelve months is around 22.43%, while ETHX-U.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BTCY-U.TO Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units	22.43%	14.50%	8.02%	10.77%	29.84%	1.21%
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

BTCY-U.TO and ETHX-U.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between BTCY-U.TO and ETHX-U.TO?

They also come from different issuers: Purpose and CI.