BTCY.TO vs. FBTC.TO
BTCY.TO (Purpose Bitcoin Yield ETF - ETF Units) and FBTC.TO (Fidelity Advantage Bitcoin ETF) are both exchange-traded funds - BTCY.TO is a fund fund actively managed by Purpose Investments, while FBTC.TO is a Cryptocurrency fund actively managed by Fidelity. Both are actively managed. Over the past 3 years, BTCY.TO returned 25.28%/yr vs 34.59%/yr for FBTC.TO. Their correlation of 0.94 suggests significant overlap in exposure.
Performance
BTCY.TO vs. FBTC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BTCY.TO achieves a -28.08% return, which is significantly lower than FBTC.TO's -24.39% return.
BTCY.TO
- 1D
- -3.45%
- 1M
- -19.22%
- YTD
- -28.08%
- 6M
- -32.85%
- 1Y
- -41.31%
- 3Y*
- 25.28%
- 5Y*
- —
- 10Y*
- —
FBTC.TO
- 1D
- -2.22%
- 1M
- -16.83%
- YTD
- -24.39%
- 6M
- -30.03%
- 1Y
- -37.95%
- 3Y*
- 34.59%
- 5Y*
- —
- 10Y*
- —
BTCY.TO vs. FBTC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCY.TO Purpose Bitcoin Yield ETF - ETF Units | -28.08% | -9.07% | 112.76% | 111.89% | -64.49% | -13.24% |
FBTC.TO Fidelity Advantage Bitcoin ETF | -24.39% | -10.85% | 137.16% | 145.80% | -61.34% | -15.88% |
Correlation
The correlation between BTCY.TO and FBTC.TO is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.94 |
The correlation between BTCY.TO and FBTC.TO has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.
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Return for Risk
BTCY.TO vs. FBTC.TO — Risk / Return Rank
BTCY.TO
FBTC.TO
BTCY.TO vs. FBTC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Bitcoin Yield ETF - ETF Units (BTCY.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.
| BTCY.TO | FBTC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.86 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.76 | -0.03 |
| Martin ratioReturn relative to average drawdown | -1.44 | -1.30 | -0.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTCY.TO | FBTC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.88 | -0.89 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.04 | 0.08 | -0.12 |
Drawdowns
BTCY.TO vs. FBTC.TO - Drawdown Comparison
The maximum BTCY.TO drawdown since its inception was -69.71%, roughly equal to the maximum FBTC.TO drawdown of -70.77%. Use the drawdown chart below to compare losses from any high point for BTCY.TO and FBTC.TO.
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Drawdown Indicators
| BTCY.TO | FBTC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.71% | -70.77% | +1.06% |
Max Drawdown (1Y)Largest decline over 1 year | -52.51% | -50.22% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -52.51% | -50.22% | -2.29% |
Current DrawdownCurrent decline from peak | -49.06% | -48.38% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -30.79% | -30.94% | +0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.66% | 29.18% | -0.52% |
Volatility
BTCY.TO vs. FBTC.TO - Volatility Comparison
Purpose Bitcoin Yield ETF - ETF Units (BTCY.TO) has a higher volatility of 10.62% compared to Fidelity Advantage Bitcoin ETF (FBTC.TO) at 9.72%. This indicates that BTCY.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.TO | FBTC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.62% | 9.72% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 39.93% | 33.63% | +6.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.14% | 42.84% | +4.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.82% | 52.37% | -1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.82% | 52.37% | -1.55% |
Dividends
BTCY.TO vs. FBTC.TO - Dividend Comparison
BTCY.TO's dividend yield for the trailing twelve months is around 22.77%, while FBTC.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BTCY.TO Purpose Bitcoin Yield ETF - ETF Units | 22.77% | 15.11% | 16.75% | 9.22% | 24.25% | 1.23% |
FBTC.TO Fidelity Advantage Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, BTCY.TO and FBTC.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
They also come from different issuers: Purpose Investments and Fidelity.
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