BTCY-U.TO vs. FBTC.TO
BTCY-U.TO (Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units) and FBTC.TO (Fidelity Advantage Bitcoin ETF) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BTCY-U.TO returned 19.72%/yr vs 28.17%/yr for FBTC.TO. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
BTCY-U.TO vs. FBTC.TO - Performance Comparison
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Different Trading Currencies
BTCY-U.TO is traded in USD, while FBTC.TO is traded in CAD. To make them comparable, the FBTC.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BTCY-U.TO achieves a -28.63% return, which is significantly lower than FBTC.TO's -26.14% return.
BTCY-U.TO
- 1D
- 0.92%
- 1M
- -1.07%
- 6M
- -33.64%
- YTD
- -28.63%
- 1Y
- -47.26%
- 3Y*
- 19.72%
- 5Y*
- —
- 10Y*
- —
FBTC.TO
- 1D
- 1.13%
- 1M
- -3.05%
- 6M
- -33.61%
- YTD
- -26.14%
- 1Y
- -44.49%
- 3Y*
- 28.17%
- 5Y*
- —
- 10Y*
- —
BTCY-U.TO vs. FBTC.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% |
FBTC.TO Fidelity Advantage Bitcoin ETF | -26.14% | -6.59% | 118.65% | 151.79% | -63.64% | -20.05% |
Correlation
The correlation between BTCY-U.TO and FBTC.TO is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.64 |
The correlation between BTCY-U.TO and FBTC.TO has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.
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Return for Risk
BTCY-U.TO vs. FBTC.TO — Risk / Return Rank
BTCY-U.TO
FBTC.TO
BTCY-U.TO vs. FBTC.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 Fidelity Advantage Bitcoin ETF (FBTC.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 | FBTC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.83 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.83 | -0.03 |
| Martin ratioReturn relative to average drawdown | -1.42 | -1.34 | -0.08 |
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Drawdowns
BTCY-U.TO vs. FBTC.TO - Drawdown Comparison
The maximum BTCY-U.TO drawdown since its inception was -71.23%, roughly equal to the maximum FBTC.TO drawdown of -71.97%. Use the drawdown chart below to compare losses from any high point for BTCY-U.TO and FBTC.TO.
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Drawdown Indicators
| BTCY-U.TO | FBTC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.23% | -71.97% | +0.74% |
Max Drawdown (1Y)Largest decline over 1 year | -55.02% | -53.52% | -1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -55.02% | -53.52% | -1.50% |
Current DrawdownCurrent decline from peak | -49.22% | -48.58% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -32.82% | -32.22% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.43% | 33.27% | +0.16% |
Volatility
BTCY-U.TO vs. FBTC.TO - Volatility Comparison
Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units (BTCY-U.TO) has a higher volatility of 11.75% compared to Fidelity Advantage Bitcoin ETF (FBTC.TO) at 10.73%. This indicates that BTCY-U.TO's price experiences larger fluctuations and is considered to be riskier than FBTC.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-U.TO | FBTC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.75% | 10.73% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 40.85% | 33.91% | +6.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.60% | 43.99% | +4.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.36% | 52.43% | -1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.36% | 52.43% | -1.07% |
Dividends
BTCY-U.TO vs. FBTC.TO - Dividend Comparison
BTCY-U.TO's dividend yield for the trailing twelve months is around 22.43%, while FBTC.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% |
FBTC.TO Fidelity Advantage Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCY-U.TO and FBTC.TO have a correlation of 0.57, 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 Fidelity.
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