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EBIT.TO vs. BTCY-B.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EBIT.TO vs. BTCY-B.TO

Last updated Jul 18, 2026
Documentation

EBIT.TO (Evolve Bitcoin ETF CAD) and BTCY-B.TO (Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units) are both Cryptocurrency funds. EBIT.TO is passively managed, while BTCY-B.TO is actively managed. Over the past 3 years, EBIT.TO returned 29.75%/yr vs 21.80%/yr for BTCY-B.TO. Their correlation of 0.94 suggests significant overlap in exposure.

Performance

EBIT.TO vs. BTCY-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Bitcoin ETF CAD (EBIT.TO) and Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EBIT.TO achieves a -25.86% return, which is significantly higher than BTCY-B.TO's -27.96% return.

EBIT.TO

1D
-0.35%
1M
-1.76%
6M
-32.95%
YTD
-25.86%
1Y
-45.92%
3Y*
29.75%
5Y*
15.26%
10Y*
—

BTCY-B.TO

1D
0.00%
1M
-0.63%
6M
-34.93%
YTD
-27.96%
1Y
-46.59%
3Y*
21.80%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EBIT.TO vs. BTCY-B.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
EBIT.TO
Evolve Bitcoin ETF CAD		-25.86%-11.88%134.59%146.50%-62.36%-21.82%
BTCY-B.TO
Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units		-27.96%-11.51%113.48%107.21%-60.74%-22.33%

Correlation

The correlation between EBIT.TO and BTCY-B.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 Nov 30, 2021

0.94

The correlation between EBIT.TO and BTCY-B.TO has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

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Evolve Bitcoin ETF CAD

Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units

Often compared with EBIT.TO:
EBIT.TO vs. ETC.TOEBIT.TO vs. BTCC-U.TOEBIT.TO vs. ETHY.TOEBIT.TO vs. ETHR.TOEBIT.TO vs. ETHH.TOEBIT.TO vs. BTCC.TOEBIT.TO vs. CCCX-B.TO
Often compared with BTCY-B.TO:
BTCY-B.TO vs. BTCY-U.TOBTCY-B.TO vs. ETHY-U.TOBTCY-B.TO vs. YPLT.NEOBTCY-B.TO vs. BTCC-B.TOBTCY-B.TO vs. BTCC-U.TOBTCY-B.TO vs. BTCC.TOBTCY-B.TO vs. BTCX-B.TO

Return for Risk

EBIT.TO vs. BTCY-B.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EBIT.TO
EBIT.TO Risk / Return Rank: 22
Overall Rank
EBIT.TO Sharpe Ratio Rank: 11
Sharpe Ratio Rank
EBIT.TO Sortino Ratio Rank: 11
Sortino Ratio Rank
EBIT.TO Omega Ratio Rank: 22
Omega Ratio Rank
EBIT.TO Calmar Ratio Rank: 22
Calmar Ratio Rank
EBIT.TO Martin Ratio Rank: 22
Martin Ratio Rank
BTCY-B.TO
BTCY-B.TO Risk / Return Rank: 22
Overall Rank
BTCY-B.TO Sharpe Ratio Rank: 22
Sharpe Ratio Rank
BTCY-B.TO Sortino Ratio Rank: 22
Sortino Ratio Rank
BTCY-B.TO Omega Ratio Rank: 22
Omega Ratio Rank
BTCY-B.TO Calmar Ratio Rank: 22
Calmar Ratio Rank
BTCY-B.TO Martin Ratio Rank: 22
Martin Ratio Rank
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.TO vs. BTCY-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Bitcoin ETF CAD (EBIT.TO) and Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-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.

EBIT.TOBTCY-B.TODifference
Sharpe ratioReturn per unit of total volatility
-1.06
-0.95

-0.11

Sortino ratioReturn per unit of downside risk
-1.61
-1.39

-0.22

Omega ratioGain probability vs. loss probability

0.82

0.84

-0.02

Calmar ratioReturn relative to maximum drawdown

-0.87

-0.85

-0.01

Martin ratioReturn relative to average drawdown

-1.35

-1.36

+0.01

EBIT.TO vs. BTCY-B.TO - Sharpe Ratio Comparison

The current EBIT.TO Sharpe Ratio is -1.06, which is comparable to the BTCY-B.TO Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of EBIT.TO and BTCY-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.

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Drawdowns

EBIT.TO vs. BTCY-B.TO - Drawdown Comparison

The maximum EBIT.TO drawdown since its inception was -75.45%, which is greater than BTCY-B.TO's maximum drawdown of -71.05%. Use the drawdown chart below to compare losses from any high point for EBIT.TO and BTCY-B.TO.

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Drawdown Indicators

EBIT.TOBTCY-B.TODifference

Max Drawdown

Largest peak-to-trough decline

-75.45%

-71.05%

-4.40%

Max Drawdown (1Y)

Largest decline over 1 year

-53.08%

-54.74%

+1.66%

Max Drawdown (3Y)

Largest decline over 3 years

-53.08%

-54.74%

+1.66%

Max Drawdown (5Y)

Largest decline over 5 years

-75.45%

—

—

Current Drawdown

Current decline from peak

-49.35%

-50.04%

+0.69%

Average Drawdown

Average peak-to-trough decline

-33.42%

-32.81%

-0.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

34.10%

34.25%

-0.15%

Volatility

EBIT.TO vs. BTCY-B.TO - Volatility Comparison

The current volatility for Evolve Bitcoin ETF CAD (EBIT.TO) is 10.19%, while Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) has a volatility of 12.53%. This indicates that EBIT.TO experiences smaller price fluctuations and is considered to be less risky than BTCY-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EBIT.TOBTCY-B.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.19%

12.53%

-2.34%

Volatility (6M)

Calculated over the trailing 6-month period

33.99%

41.55%

-7.56%

Volatility (1Y)

Calculated over the trailing 1-year period

43.60%

49.31%

-5.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

52.87%

49.66%

+3.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

54.50%

49.66%

+4.84%

Dividends

EBIT.TO vs. BTCY-B.TO - Dividend Comparison

EBIT.TO has not paid dividends to shareholders, while BTCY-B.TO's dividend yield for the trailing twelve months is around 21.88%.

PositionTTM20252024202320222021
BTCY-B.TO
Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units		21.88%14.33%7.69%9.31%19.45%1.25%
EBIT.TO
Evolve Bitcoin ETF CAD		0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.98, EBIT.TO and BTCY-B.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: Evolve and Purpose.

Portfolio Optimizer

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