CIC.TO vs. BTCX-B.TO

Last updated Aug 2, 2026

CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) are both exchange-traded funds - CIC.TO is a Financials Equities fund actively managed by CI, while BTCX-B.TO is a Cryptocurrency fund tracking the No Index (Physical Bitcoin). CIC.TO is actively managed, while BTCX-B.TO is passively managed. Over the past 5 years, CIC.TO returned 16.57%/yr vs 11.20%/yr for BTCX-B.TO. Their 0.21 correlation means their historical movements had little consistent relationship. CIC.TO charges 0.87%/yr vs 0.80%/yr for BTCX-B.TO.

Performance

CIC.TO vs. BTCX-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Canadian Banks Covered Call Income Class ETF (CIC.TO) and CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIC.TO achieves a 26.83% return, which is significantly higher than BTCX-B.TO's -26.95% return.

CIC.TO

• 1D: 0.37%
• 1M: 1.17%
• 6M: 27.70%
• YTD: 26.83%
• 1Y: 56.61%
• 3Y*: 28.74%
• 5Y*: 16.57%
• 10Y*: 13.76%
• ALL TIME*: 11.63%

BTCX-B.TO

• 1D: -2.81%
• 1M: -0.23%
• 6M: -23.00%
• YTD: -26.95%
• 1Y: -44.02%
• 3Y*: 30.49%
• 5Y*: 11.20%
• 10Y*: —
• ALL TIME*: 3.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	CA$935.28K	CA$1.05M	CA$1.72M
CIC.TO CI Canadian Banks Covered Call Income Class ETF	CA$388.70K	CA$258.13K	CA$198.22K

CIC.TO vs. BTCX-B.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CIC.TO CI Canadian Banks Covered Call Income Class ETF	26.83%	35.32%	21.30%	6.58%	-10.99%	19.49%
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	-26.95%	-11.32%	139.01%	149.40%	-62.06%	-18.60%

Correlation

The correlation between CIC.TO and BTCX-B.TO is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (3Y) Balances recent behavior with more history.	0.25
Correlation (5Y) Shows whether the relationship held over a longer period.	0.23
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021	0.21

Return for Risk

CIC.TO vs. BTCX-B.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CIC.TO

CIC.TO Risk / Return Rank: 97
CIC.TO Sharpe Ratio Rank: 98
CIC.TO Sortino Ratio Rank: 97
CIC.TO Omega Ratio Rank: 97
CIC.TO Calmar Ratio Rank: 96
CIC.TO Martin Ratio Rank: 97

BTCX-B.TO

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CIC.TO vs. BTCX-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Canadian Banks Covered Call Income Class ETF (CIC.TO) and CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-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.

	CIC.TO	BTCX-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.45	-1.05	+5.50
Sortino ratio: Return per unit of downside risk	5.66	-1.60	+7.26
Omega ratio: Gain probability vs. loss probability	1.81	0.83	+0.99
Calmar ratio: Return relative to maximum drawdown	6.84	-0.87	+7.71
Martin ratio: Return relative to average drawdown	30.63	-1.31	+31.93

CIC.TO vs. BTCX-B.TO - Sharpe Ratio Comparison

The current CIC.TO Sharpe Ratio is 4.45, which is higher than the BTCX-B.TO Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of CIC.TO and BTCX-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

CIC.TO vs. BTCX-B.TO - Drawdown Comparison

The maximum CIC.TO drawdown since its inception was -38.55%, smaller than the maximum BTCX-B.TO drawdown of -75.26%. Use the drawdown chart below to compare losses from any high point for CIC.TO and BTCX-B.TO.

Drawdown Indicators

	CIC.TO	BTCX-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.55%	-75.26%	+36.71%
Max Drawdown (1Y) Largest decline over 1 year	-8.23%	-52.71%	+44.48%
Max Drawdown (3Y) Largest decline over 3 years	-12.72%	-52.71%	+39.99%
Max Drawdown (5Y) Largest decline over 5 years	-26.34%	-75.26%	+48.92%
Max Drawdown (10Y) Largest decline over 10 years	-38.55%	—	—
Current Drawdown Current decline from peak	-2.31%	-49.98%	+47.67%
Average Drawdown Average peak-to-trough decline	-5.45%	-33.43%	+27.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	35.25%	-33.42%

Volatility

CIC.TO vs. BTCX-B.TO - Volatility Comparison

The current volatility for CI Canadian Banks Covered Call Income Class ETF (CIC.TO) is 5.63%, while CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a volatility of 8.27%. This indicates that CIC.TO experiences smaller price fluctuations and is considered to be less risky than BTCX-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIC.TO	BTCX-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	8.27%	-2.64%
Volatility (6M) Calculated over the trailing 6-month period	10.93%	33.34%	-22.41%
Volatility (1Y) Calculated over the trailing 1-year period	12.67%	43.84%	-31.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.96%	52.26%	-39.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	54.52%	-38.18%

CIC.TO vs. BTCX-B.TO - Expense Ratio Comparison

CIC.TO has a 0.87% expense ratio, which is higher than BTCX-B.TO's 0.80% expense ratio.

Dividends

CIC.TO vs. BTCX-B.TO - Dividend Comparison

CIC.TO's dividend yield for the trailing twelve months is around 4.92%, while BTCX-B.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CIC.TO CI Canadian Banks Covered Call Income Class ETF	4.92%	5.17%	6.71%	7.37%	7.64%	5.48%	9.56%	6.16%	6.61%	5.68%	6.72%	7.31%

Frequently Asked Questions

Can I hold both CIC.TO and BTCX-B.TO in my portfolio?

CIC.TO and BTCX-B.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CIC.TO or BTCX-B.TO?

On fees, BTCX-B.TO is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CIC.TO or BTCX-B.TO?

BTCX-B.TO is cheaper with a 0.80% expense ratio, compared with 0.87% for CIC.TO.

What is the main difference between CIC.TO and BTCX-B.TO?

CIC.TO is categorized as Financials Equities, while BTCX-B.TO is Cryptocurrency. Their fees differ too: 0.87% for CIC.TO and 0.80% for BTCX-B.TO.