EBIT-U.TO vs. ETHR.TO

Last updated Jul 16, 2026

EBIT-U.TO (Evolve Bitcoin ETF USD) and ETHR.TO (Evolve Ether ETF CAD Unhedged Units) are both Cryptocurrency funds from Evolve. EBIT-U.TO is actively managed, while ETHR.TO is passively managed. Over the past 5 years, EBIT-U.TO returned 13.31%/yr vs -1.93%/yr for ETHR.TO. A 0.77 correlation means they provide meaningful diversification when combined.

Performance

EBIT-U.TO vs. ETHR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Evolve Bitcoin ETF USD (EBIT-U.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, EBIT-U.TO achieves a -26.81% return, which is significantly higher than ETHR.TO's -36.37% return.

EBIT-U.TO

• 1D: 1.65%
• 1M: -2.19%
• 6M: -33.71%
• YTD: -26.81%
• 1Y: -45.49%
• 3Y*: 27.56%
• 5Y*: 13.31%
• 10Y*: —

ETHR.TO

• 1D: 2.56%
• 1M: 4.72%
• 6M: -43.95%
• YTD: -36.37%
• 1Y: -38.42%
• 3Y*: -2.28%
• 5Y*: -1.93%
• 10Y*: —

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

EBIT-U.TO vs. ETHR.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EBIT-U.TO Evolve Bitcoin ETF USD	-26.81%	-6.74%	115.98%	153.86%	-64.96%	-19.24%
ETHR.TO Evolve Ether ETF CAD Unhedged Units	-36.37%	-13.05%	40.53%	92.27%	-67.69%	58.43%

Correlation

The correlation between EBIT-U.TO and ETHR.TO is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Apr 20, 2021	0.77

The correlation between EBIT-U.TO and ETHR.TO has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.

Return for Risk

EBIT-U.TO vs. ETHR.TO — Risk / Return Rank

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

EBIT-U.TO

EBIT-U.TO Risk / Return Rank: 2
EBIT-U.TO Sharpe Ratio Rank: 2
EBIT-U.TO Sortino Ratio Rank: 2
EBIT-U.TO Omega Ratio Rank: 2
EBIT-U.TO Calmar Ratio Rank: 2
EBIT-U.TO Martin Ratio Rank: 2

ETHR.TO

ETHR.TO Risk / Return Rank: 5
ETHR.TO Sharpe Ratio Rank: 5
ETHR.TO Sortino Ratio Rank: 5
ETHR.TO Omega Ratio Rank: 5
ETHR.TO Calmar Ratio Rank: 5
ETHR.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.

EBIT-U.TO vs. ETHR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Bitcoin ETF USD (EBIT-U.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.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.

	EBIT-U.TO	ETHR.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	-0.58	-0.41
Sortino ratio: Return per unit of downside risk	-1.45	-0.55	-0.90
Omega ratio: Gain probability vs. loss probability	0.84	0.94	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.84	-0.56	-0.27
Martin ratio: Return relative to average drawdown	-1.37	-0.88	-0.48

EBIT-U.TO vs. ETHR.TO - Sharpe Ratio Comparison

The current EBIT-U.TO Sharpe Ratio is -0.99, which is lower than the ETHR.TO Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of EBIT-U.TO and ETHR.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

EBIT-U.TO vs. ETHR.TO - Drawdown Comparison

The maximum EBIT-U.TO drawdown since its inception was -77.55%, roughly equal to the maximum ETHR.TO drawdown of -79.03%. Use the drawdown chart below to compare losses from any high point for EBIT-U.TO and ETHR.TO.

Drawdown Indicators

	EBIT-U.TO	ETHR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-77.55%	-79.03%	+1.48%
Max Drawdown (1Y) Largest decline over 1 year	-54.37%	-68.25%	+13.88%
Max Drawdown (3Y) Largest decline over 3 years	-54.37%	-68.25%	+13.88%
Max Drawdown (5Y) Largest decline over 5 years	-77.55%	-79.03%	+1.48%
Current Drawdown Current decline from peak	-48.57%	-63.53%	+14.96%
Average Drawdown Average peak-to-trough decline	-34.50%	-47.49%	+12.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.35%	43.65%	-10.30%

Volatility

EBIT-U.TO vs. ETHR.TO - Volatility Comparison

The current volatility for Evolve Bitcoin ETF USD (EBIT-U.TO) is 13.32%, while Evolve Ether ETF CAD Unhedged Units (ETHR.TO) has a volatility of 14.75%. This indicates that EBIT-U.TO experiences smaller price fluctuations and is considered to be less risky than ETHR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBIT-U.TO	ETHR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.32%	14.75%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	37.75%	46.84%	-9.09%
Volatility (1Y) Calculated over the trailing 1-year period	46.29%	67.03%	-20.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.49%	69.01%	-14.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.01%	71.87%	-15.86%

Dividends

EBIT-U.TO vs. ETHR.TO - Dividend Comparison

Neither EBIT-U.TO nor ETHR.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EBIT-U.TO and ETHR.TO in my portfolio?

EBIT-U.TO and ETHR.TO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.