CIC.TO vs. ETHX-U.TO

Last updated Jul 14, 2026

CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and ETHX-U.TO (CI Galaxy Ethereum ETF (US$ Series)) are both exchange-traded funds - CIC.TO is a Financials Equities fund actively managed by CI, while ETHX-U.TO is a Cryptocurrency fund actively managed by CI. Both are actively managed. Over the past 5 years, CIC.TO returned 16.56%/yr vs -0.45%/yr for ETHX-U.TO. At a 0.24 correlation, their price movements are largely independent.

Performance

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

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, CIC.TO achieves a 27.57% return, which is significantly higher than ETHX-U.TO's -38.18% return.

CIC.TO

• 1D: -0.10%
• 1M: 5.44%
• 6M: 26.10%
• YTD: 27.57%
• 1Y: 57.42%
• 3Y*: 29.59%
• 5Y*: 16.56%
• 10Y*: 13.70%

ETHX-U.TO

• 1D: -0.75%
• 1M: 8.23%
• 6M: -41.72%
• YTD: -38.18%
• 1Y: -38.84%
• 3Y*: -0.57%
• 5Y*: -0.45%
• 10Y*: —

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

CIC.TO vs. ETHX-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CIC.TO CI Canadian Banks Covered Call Income Class ETF	27.57%	35.32%	21.30%	6.58%	-10.99%	16.84%
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	-38.18%	-15.57%	55.61%	88.71%	-65.91%	66.78%

Correlation

The correlation between CIC.TO and ETHX-U.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Apr 20, 2021	0.24

Return for Risk

CIC.TO vs. ETHX-U.TO — Risk / Return Rank

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

CIC.TO

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

ETHX-U.TO

ETHX-U.TO Risk / Return Rank: 5
ETHX-U.TO Sharpe Ratio Rank: 4
ETHX-U.TO Sortino Ratio Rank: 5
ETHX-U.TO Omega Ratio Rank: 5
ETHX-U.TO Calmar Ratio Rank: 4
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.

CIC.TO vs. ETHX-U.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 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.

	CIC.TO	ETHX-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.88	-0.57	+5.45
Sortino ratio: Return per unit of downside risk	6.52	-0.56	+7.08
Omega ratio: Gain probability vs. loss probability	1.91	0.94	+0.97
Calmar ratio: Return relative to maximum drawdown	7.01	-0.58	+7.59
Martin ratio: Return relative to average drawdown	32.73	-0.89	+33.62

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

The current CIC.TO Sharpe Ratio is 4.88, which is higher than the ETHX-U.TO Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of CIC.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

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

The maximum CIC.TO drawdown since its inception was -38.55%, smaller than the maximum ETHX-U.TO drawdown of -78.30%. Use the drawdown chart below to compare losses from any high point for CIC.TO and ETHX-U.TO.

Drawdown Indicators

	CIC.TO	ETHX-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.55%	-78.30%	+39.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.23%	-67.75%	+59.52%
Max Drawdown (3Y) Largest decline over 3 years	-14.32%	-67.75%	+53.43%
Max Drawdown (5Y) Largest decline over 5 years	-26.34%	-78.30%	+51.96%
Max Drawdown (10Y) Largest decline over 10 years	-38.55%	—	—
Current Drawdown Current decline from peak	-0.10%	-62.82%	+62.72%
Average Drawdown Average peak-to-trough decline	-5.46%	-43.09%	+37.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	43.67%	-41.91%

Volatility

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

The current volatility for CI Canadian Banks Covered Call Income Class ETF (CIC.TO) is 3.75%, while CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) has a volatility of 16.52%. This indicates that CIC.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

	CIC.TO	ETHX-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	16.52%	-12.77%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	46.62%	-36.38%
Volatility (1Y) Calculated over the trailing 1-year period	11.85%	67.99%	-56.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.85%	71.14%	-58.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	74.03%	-57.74%

Dividends

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

CIC.TO's dividend yield for the trailing twelve months is around 4.89%, while ETHX-U.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIC.TO CI Canadian Banks Covered Call Income Class ETF	4.89%	5.17%	6.71%	7.37%	7.64%	5.48%	9.56%	6.16%	6.61%	5.68%	6.72%	7.31%
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

CIC.TO and ETHX-U.TO have a correlation of 0.30, 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 CIC.TO and ETHX-U.TO?

CIC.TO is categorized as Financials Equities, while ETHX-U.TO is Cryptocurrency.