CLML.TO vs. BTCX-B.TO

Last updated Jul 25, 2026

CLML.TO (CI Global Climate Leaders Fund) and BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) are both exchange-traded funds - CLML.TO is a Alternative Energy Equities fund actively managed by CI Global Asset Management, while BTCX-B.TO is a Cryptocurrency fund tracking the No Index (Physical Bitcoin). CLML.TO is actively managed, while BTCX-B.TO is passively managed. Over the past 5 years, CLML.TO returned 20.73%/yr vs 16.47%/yr for BTCX-B.TO. At a 0.16 correlation, their price movements are largely independent. CLML.TO charges 0.99%/yr vs 0.80%/yr for BTCX-B.TO.

Performance

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

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Global Climate Leaders Fund (CLML.TO) and CI Galaxy Bitcoin ETF C$ 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, CLML.TO achieves a 25.72% return, which is significantly higher than BTCX-B.TO's -25.01% return.

CLML.TO

• 1D: -0.97%
• 1M: -7.84%
• 6M: 20.44%
• YTD: 25.72%
• 1Y: 33.44%
• 3Y*: 37.82%
• 5Y*: 20.73%
• 10Y*: —
• ALL TIME*: 20.69%

BTCX-B.TO

• 1D: -0.60%
• 1M: 6.21%
• 6M: -26.36%
• YTD: -25.01%
• 1Y: -44.75%
• 3Y*: 32.09%
• 5Y*: 16.47%
• 10Y*: —
• ALL TIME*: 3.84%

*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$1.06M	CA$1.35M	CA$1.75M
CLML.TO CI Global Climate Leaders Fund	CA$494.12K	CA$394.47K	CA$468.54K

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

	2026 (YTD)	2025	2024	2023	2022	2021
CLML.TO CI Global Climate Leaders Fund	25.72%	25.21%	63.19%	12.83%	-18.69%	9.27%
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	-25.01%	-11.32%	139.01%	149.40%	-62.06%	41.36%

Correlation

The correlation between CLML.TO and BTCX-B.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jul 13, 2021	0.16

Over the past year, CLML.TO and BTCX-B.TO have become more correlated (0.37) than their long-term average of 0.16, meaning their price movements have been converging.

Return for Risk

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

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

CLML.TO

CLML.TO Risk / Return Rank: 68
CLML.TO Sharpe Ratio Rank: 63
CLML.TO Sortino Ratio Rank: 62
CLML.TO Omega Ratio Rank: 60
CLML.TO Calmar Ratio Rank: 78
CLML.TO Martin Ratio Rank: 76

BTCX-B.TO

BTCX-B.TO Risk / Return Rank: 2
BTCX-B.TO Sharpe Ratio Rank: 1
BTCX-B.TO Sortino Ratio Rank: 2
BTCX-B.TO Omega Ratio Rank: 2
BTCX-B.TO Calmar Ratio Rank: 2
BTCX-B.TO Martin Ratio Rank: 3

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.

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

This table presents a comparison of risk-adjusted performance metrics for CI Global Climate Leaders Fund (CLML.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.

	CLML.TO	BTCX-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.45	-1.03	+2.48
Sortino ratio: Return per unit of downside risk	2.06	-1.54	+3.60
Omega ratio: Gain probability vs. loss probability	1.26	0.83	+0.43
Calmar ratio: Return relative to maximum drawdown	2.90	-0.85	+3.75
Martin ratio: Return relative to average drawdown	9.65	-1.30	+10.95

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

The current CLML.TO Sharpe Ratio is 1.45, which is higher than the BTCX-B.TO Sharpe Ratio of -1.03. The chart below compares the historical Sharpe Ratios of CLML.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

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

The maximum CLML.TO drawdown since its inception was -28.17%, smaller than the maximum BTCX-B.TO drawdown of -75.26%. Use the drawdown chart below to compare losses from any high point for CLML.TO and BTCX-B.TO.

Drawdown Indicators

	CLML.TO	BTCX-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-28.17%	-75.26%	+47.09%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-52.71%	+41.13%
Max Drawdown (3Y) Largest decline over 3 years	-25.94%	-52.71%	+26.77%
Max Drawdown (5Y) Largest decline over 5 years	-28.17%	-75.26%	+47.09%
Current Drawdown Current decline from peak	-10.72%	-48.65%	+37.93%
Average Drawdown Average peak-to-trough decline	-8.85%	-33.37%	+24.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	34.56%	-31.09%

Volatility

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

The current volatility for CI Global Climate Leaders Fund (CLML.TO) is 8.33%, while CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a volatility of 9.14%. This indicates that CLML.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

	CLML.TO	BTCX-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.33%	9.14%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	19.08%	33.74%	-14.66%
Volatility (1Y) Calculated over the trailing 1-year period	23.21%	43.73%	-20.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.14%	53.25%	-32.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.08%	54.59%	-33.51%

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

CLML.TO has a 0.99% expense ratio, which is higher than BTCX-B.TO's 0.80% expense ratio.

Dividends

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

Neither CLML.TO nor BTCX-B.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

CLML.TO and BTCX-B.TO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

BTCX-B.TO is cheaper with a 0.80% expense ratio, compared with 0.99% for CLML.TO.

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

CLML.TO is categorized as Alternative Energy Equities, while BTCX-B.TO is Cryptocurrency. Their fees differ too: 0.99% for CLML.TO and 0.80% for BTCX-B.TO.