ETHH.TO vs. ETHR.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Purpose Ether ETF (ETHH.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.TO).

ETHH.TO and ETHR.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ETHH.TO is an actively managed fund by Purpose Investments. It was launched on Oct 14, 2021. ETHR.TO is a passively managed fund by Evolve that tracks the performance of the CME CF Ether-Dollar Reference Rate. It was launched on Apr 19, 2021.

Performance

ETHH.TO vs. ETHR.TO - Performance Comparison

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

ETHH.TO vs. ETHR.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ETHH.TO Purpose Ether ETF	-30.39%	-14.37%	38.87%	91.16%	-69.16%	51.50%
ETHR.TO Evolve Ether ETF CAD Unhedged Units	-28.50%	-17.01%	52.43%	87.70%	-65.64%	54.91%

Returns By Period

In the year-to-date period, ETHH.TO achieves a -30.39% return, which is significantly lower than ETHR.TO's -28.50% return.

ETHH.TO

• 1D: 3.82%
• 1M: 8.24%
• YTD: -30.39%
• 6M: -50.72%
• 1Y: 10.52%
• 3Y*: 1.08%
• 5Y*: —
• 10Y*: —

ETHR.TO

• 1D: 3.98%
• 1M: 11.16%
• YTD: -28.50%
• 6M: -50.03%
• 1Y: 9.03%
• 3Y*: 3.59%
• 5Y*: —
• 10Y*: —

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

ETHH.TO vs. ETHR.TO - Expense Ratio Comparison

ETHH.TO has a 1.00% expense ratio, which is higher than ETHR.TO's 0.75% expense ratio.

ETHH.TO

Purpose Ether ETF

ETHR.TO

Evolve Ether ETF CAD Unhedged Units

Return for Risk

ETHH.TO vs. ETHR.TO — Risk / Return Rank

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

ETHH.TO

ETHH.TO Risk / Return Rank: 18
ETHH.TO Sharpe Ratio Rank: 15
ETHH.TO Sortino Ratio Rank: 25
ETHH.TO Omega Ratio Rank: 22
ETHH.TO Calmar Ratio Rank: 14
ETHH.TO Martin Ratio Rank: 14

ETHR.TO

ETHR.TO Risk / Return Rank: 17
ETHR.TO Sharpe Ratio Rank: 14
ETHR.TO Sortino Ratio Rank: 24
ETHR.TO Omega Ratio Rank: 21
ETHR.TO Calmar Ratio Rank: 14
ETHR.TO Martin Ratio Rank: 13

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.

ETHH.TO vs. ETHR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Ether ETF (ETHH.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.

	ETHH.TO	ETHR.TO	Difference
Sharpe ratio Return per unit of total volatility	0.14	0.12	+0.02
Sortino ratio Return per unit of downside risk	0.76	0.73	+0.03
Omega ratio Gain probability vs. loss probability	1.09	1.08	0.00
Calmar ratio Return relative to maximum drawdown	0.13	0.11	+0.02
Martin ratio Return relative to average drawdown	0.26	0.23	+0.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETHH.TO vs. ETHR.TO - Sharpe Ratio Comparison

The current ETHH.TO Sharpe Ratio is 0.14, which is comparable to the ETHR.TO Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of ETHH.TO and ETHR.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ETHH.TO	ETHR.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	0.12	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	-0.03	-0.05

Correlation

The correlation between ETHH.TO and ETHR.TO is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ETHH.TO vs. ETHR.TO - Dividend Comparison

Neither ETHH.TO nor ETHR.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ETHH.TO vs. ETHR.TO - Drawdown Comparison

The maximum ETHH.TO drawdown since its inception was -79.46%, roughly equal to the maximum ETHR.TO drawdown of -78.36%. Use the drawdown chart below to compare losses from any high point for ETHH.TO and ETHR.TO.

Drawdown Indicators

	ETHH.TO	ETHR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-79.46%	-78.36%	-1.10%
Max Drawdown (1Y) Largest decline over 1 year	-62.39%	-62.29%	-0.10%
Current Drawdown Current decline from peak	-62.88%	-56.68%	-6.20%
Average Drawdown Average peak-to-trough decline	-48.64%	-43.06%	-5.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.92%	30.72%	+0.20%

Volatility

ETHH.TO vs. ETHR.TO - Volatility Comparison

Purpose Ether ETF (ETHH.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.TO) have volatilities of 19.13% and 19.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHH.TO	ETHR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.13%	19.68%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	53.08%	52.55%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	74.54%	74.21%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.91%	72.62%	+1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.91%	72.62%	+1.29%