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

EBIT.TO vs. BTCY-U.TO

Last updated Jul 18, 2026
Documentation

EBIT.TO (Evolve Bitcoin ETF CAD) and BTCY-U.TO (Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units) are both Cryptocurrency funds. EBIT.TO is passively managed, while BTCY-U.TO is actively managed. Over the past 3 years, EBIT.TO returned 29.75%/yr vs 22.13%/yr for BTCY-U.TO. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

EBIT.TO vs. BTCY-U.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 USD Non-Currency Hedged Units (BTCY-U.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, EBIT.TO achieves a -25.86% return, which is significantly higher than BTCY-U.TO's -28.11% 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-U.TO

1D
-1.05%
1M
-1.63%
6M
-34.45%
YTD
-28.11%
1Y
-46.63%
3Y*
22.13%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
EBIT.TO
Evolve Bitcoin ETF CAD		-25.86%-11.88%134.59%146.50%-62.36%-20.52%
BTCY-U.TO
Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units		-28.11%-11.89%115.03%107.96%-62.65%-16.27%

Correlation

The correlation between EBIT.TO and BTCY-U.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.57

Correlation (3Y)
Calculated over the trailing 3-year period

0.61

Correlation (All Time)
Calculated using the full available price history since Dec 2, 2021

0.63

The correlation between EBIT.TO and BTCY-U.TO has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.

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Evolve Bitcoin ETF CAD

Purpose Bitcoin Yield ETF USD 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-U.TO:
BTCY-U.TO vs. BTCY-B.TOBTCY-U.TO vs. ETHY-U.TOBTCY-U.TO vs. YPLT.NEOBTCY-U.TO vs. BTCC-B.TOBTCY-U.TO vs. BTCC-U.TOBTCY-U.TO vs. BTCC.TOBTCY-U.TO vs. BTCX-B.TO

Return for Risk

EBIT.TO vs. BTCY-U.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-U.TO
BTCY-U.TO Risk / Return Rank: 22
Overall Rank
BTCY-U.TO Sharpe Ratio Rank: 22
Sharpe Ratio Rank
BTCY-U.TO Sortino Ratio Rank: 22
Sortino Ratio Rank
BTCY-U.TO Omega Ratio Rank: 22
Omega Ratio Rank
BTCY-U.TO Calmar Ratio Rank: 22
Calmar Ratio Rank
BTCY-U.TO Martin Ratio Rank: 11
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-U.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 USD Non-Currency Hedged Units (BTCY-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.

EBIT.TOBTCY-U.TODifference
Sharpe ratioReturn per unit of total volatility
-1.06
-0.97

-0.09

Sortino ratioReturn per unit of downside risk
-1.61
-1.41

-0.19

Omega ratioGain probability vs. loss probability

0.82

0.83

-0.01

Calmar ratioReturn relative to maximum drawdown

-0.87

-0.86

0.00

Martin ratioReturn relative to average drawdown

-1.35

-1.37

+0.02

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

The current EBIT.TO Sharpe Ratio is -1.06, which is comparable to the BTCY-U.TO Sharpe Ratio of -0.97. The chart below compares the historical Sharpe Ratios of EBIT.TO and BTCY-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.

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Drawdowns

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

The maximum EBIT.TO drawdown since its inception was -75.45%, which is greater than BTCY-U.TO's maximum drawdown of -69.96%. Use the drawdown chart below to compare losses from any high point for EBIT.TO and BTCY-U.TO.

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Drawdown Indicators

EBIT.TOBTCY-U.TODifference

Max Drawdown

Largest peak-to-trough decline

-75.45%

-69.96%

-5.49%

Max Drawdown (1Y)

Largest decline over 1 year

-53.08%

-54.17%

+1.09%

Max Drawdown (3Y)

Largest decline over 3 years

-53.08%

-54.17%

+1.09%

Max Drawdown (5Y)

Largest decline over 5 years

-75.45%

—

—

Current Drawdown

Current decline from peak

-49.35%

-49.78%

+0.43%

Average Drawdown

Average peak-to-trough decline

-33.42%

-31.90%

-1.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

34.10%

34.08%

+0.02%

Volatility

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

The current volatility for Evolve Bitcoin ETF CAD (EBIT.TO) is 10.19%, while Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units (BTCY-U.TO) has a volatility of 11.41%. This indicates that EBIT.TO experiences smaller price fluctuations and is considered to be less risky than BTCY-U.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-U.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.19%

11.41%

-1.22%

Volatility (6M)

Calculated over the trailing 6-month period

33.99%

40.59%

-6.60%

Volatility (1Y)

Calculated over the trailing 1-year period

43.60%

48.26%

-4.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

52.87%

51.28%

+1.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

54.50%

51.28%

+3.22%

Dividends

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

EBIT.TO has not paid dividends to shareholders, while BTCY-U.TO's dividend yield for the trailing twelve months is around 22.80%.

PositionTTM20252024202320222021
BTCY-U.TO
Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units		22.80%14.50%8.02%10.77%29.84%1.21%
EBIT.TO
Evolve Bitcoin ETF CAD		0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EBIT.TO and BTCY-U.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: Evolve and Purpose.

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