EBIT.TO vs. EBIT-U.TO

Last updated Jul 18, 2026

EBIT.TO (Evolve Bitcoin ETF CAD) and EBIT-U.TO (Evolve Bitcoin ETF USD) are both Cryptocurrency funds from Evolve. EBIT.TO is passively managed, while EBIT-U.TO is actively managed. Over the past 5 years, EBIT.TO returned 15.26%/yr vs 15.38%/yr for EBIT-U.TO. Their correlation of 0.92 suggests significant overlap in exposure.

Performance

EBIT.TO vs. EBIT-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 Evolve Bitcoin ETF USD (EBIT-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with EBIT.TO having a -25.86% return and EBIT-U.TO slightly lower at -26.37%.

EBIT.TO

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

EBIT-U.TO

• 1D: -0.18%
• 1M: 0.07%
• 6M: -32.35%
• YTD: -26.37%
• 1Y: -45.80%
• 3Y*: 29.67%
• 5Y*: 15.38%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
EBIT.TO Evolve Bitcoin ETF CAD	-25.86%	-11.88%	134.59%	146.50%	-62.36%	-16.35%
EBIT-U.TO Evolve Bitcoin ETF USD	-26.37%	-11.00%	134.26%	147.82%	-62.74%	-15.82%

Correlation

The correlation between EBIT.TO and EBIT-U.TO is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 19, 2021	0.92

The correlation between EBIT.TO and EBIT-U.TO has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

EBIT.TO vs. EBIT-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: 2
EBIT.TO Sharpe Ratio Rank: 1
EBIT.TO Sortino Ratio Rank: 1
EBIT.TO Omega Ratio Rank: 2
EBIT.TO Calmar Ratio Rank: 2
EBIT.TO Martin Ratio Rank: 2

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: 1

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

This table presents a comparison of risk-adjusted performance metrics for Evolve Bitcoin ETF CAD (EBIT.TO) and Evolve Bitcoin ETF USD (EBIT-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.TO	EBIT-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	-0.99	-0.07
Sortino ratio: Return per unit of downside risk	-1.61	-1.47	-0.14
Omega ratio: Gain probability vs. loss probability	0.82	0.84	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.86	-0.01
Martin ratio: Return relative to average drawdown	-1.35	-1.35	0.00

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

The current EBIT.TO Sharpe Ratio is -1.06, which is comparable to the EBIT-U.TO Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of EBIT.TO and EBIT-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

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

The maximum EBIT.TO drawdown since its inception was -75.45%, roughly equal to the maximum EBIT-U.TO drawdown of -76.08%. Use the drawdown chart below to compare losses from any high point for EBIT.TO and EBIT-U.TO.

Drawdown Indicators

	EBIT.TO	EBIT-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-75.45%	-76.08%	+0.63%
Max Drawdown (1Y) Largest decline over 1 year	-53.08%	-53.57%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-53.08%	-53.57%	+0.49%
Max Drawdown (5Y) Largest decline over 5 years	-75.45%	-76.08%	+0.63%
Current Drawdown Current decline from peak	-49.35%	-49.26%	-0.09%
Average Drawdown Average peak-to-trough decline	-33.42%	-33.37%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.10%	34.08%	+0.02%

Volatility

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

The current volatility for Evolve Bitcoin ETF CAD (EBIT.TO) is 10.19%, while Evolve Bitcoin ETF USD (EBIT-U.TO) has a volatility of 12.82%. This indicates that EBIT.TO experiences smaller price fluctuations and is considered to be less risky than EBIT-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBIT.TO	EBIT-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.19%	12.82%	-2.63%
Volatility (6M) Calculated over the trailing 6-month period	33.99%	37.63%	-3.64%
Volatility (1Y) Calculated over the trailing 1-year period	43.60%	46.42%	-2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.87%	54.80%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.50%	56.32%	-1.82%

Dividends

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

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.93, EBIT.TO and EBIT-U.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.