ETHH.TO vs. ETHX-U.TO

Last updated Jul 15, 2026

ETHH.TO (Purpose Ether ETF) and ETHX-U.TO (CI Galaxy Ethereum ETF (US$ Series)) are both Cryptocurrency funds. Both are actively managed. Over the past 5 years, ETHH.TO returned -4.07%/yr vs 1.25%/yr for ETHX-U.TO. With a 0.98 correlation, they move nearly in lockstep.

Performance

ETHH.TO vs. ETHX-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Ether ETF (ETHH.TO) and CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ETHH.TO achieves a -38.43% return, which is significantly lower than ETHX-U.TO's -34.80% return.

ETHH.TO

• 1D: 5.93%
• 1M: 12.42%
• 6M: -42.68%
• YTD: -38.43%
• 1Y: -39.97%
• 3Y*: -4.09%
• 5Y*: -4.07%
• 10Y*: —

ETHX-U.TO

• 1D: 5.47%
• 1M: 14.15%
• 6M: -40.39%
• YTD: -34.80%
• 1Y: -35.48%
• 3Y*: 1.21%
• 5Y*: 1.25%
• 10Y*: —

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

ETHH.TO vs. ETHX-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ETHH.TO Purpose Ether ETF	-38.43%	-14.37%	38.87%	91.16%	-69.16%	58.33%
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	-34.80%	-15.57%	55.61%	88.71%	-65.91%	66.78%

Correlation

The correlation between ETHH.TO and ETHX-U.TO is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 20, 2021	0.98

The correlation between ETHH.TO and ETHX-U.TO has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

ETHH.TO vs. ETHX-U.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: 5
ETHH.TO Sharpe Ratio Rank: 4
ETHH.TO Sortino Ratio Rank: 5
ETHH.TO Omega Ratio Rank: 5
ETHH.TO Calmar Ratio Rank: 5
ETHH.TO Martin Ratio Rank: 5

ETHX-U.TO

ETHX-U.TO Risk / Return Rank: 5
ETHX-U.TO Sharpe Ratio Rank: 5
ETHX-U.TO Sortino Ratio Rank: 5
ETHX-U.TO Omega Ratio Rank: 5
ETHX-U.TO Calmar Ratio Rank: 5
ETHX-U.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.

ETHH.TO vs. ETHX-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Ether ETF (ETHH.TO) and CI Galaxy Ethereum ETF (US$ Series) (ETHX-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.

	ETHH.TO	ETHX-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	-0.52	-0.07
Sortino ratio: Return per unit of downside risk	-0.59	-0.44	-0.15
Omega ratio: Gain probability vs. loss probability	0.93	0.95	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.58	-0.53	-0.06
Martin ratio: Return relative to average drawdown	-0.91	-0.81	-0.09

ETHH.TO vs. ETHX-U.TO - Sharpe Ratio Comparison

The current ETHH.TO Sharpe Ratio is -0.59, which is comparable to the ETHX-U.TO Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of ETHH.TO and ETHX-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

ETHH.TO vs. ETHX-U.TO - Drawdown Comparison

The maximum ETHH.TO drawdown since its inception was -79.46%, roughly equal to the maximum ETHX-U.TO drawdown of -78.30%. Use the drawdown chart below to compare losses from any high point for ETHH.TO and ETHX-U.TO.

Drawdown Indicators

	ETHH.TO	ETHX-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-79.46%	-78.30%	-1.16%
Max Drawdown (1Y) Largest decline over 1 year	-68.96%	-67.75%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-68.96%	-67.75%	-1.21%
Max Drawdown (5Y) Largest decline over 5 years	-79.46%	-78.30%	-1.16%
Current Drawdown Current decline from peak	-67.17%	-60.78%	-6.39%
Average Drawdown Average peak-to-trough decline	-49.47%	-43.10%	-6.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.20%	43.84%	+0.36%

Volatility

ETHH.TO vs. ETHX-U.TO - Volatility Comparison

Purpose Ether ETF (ETHH.TO) and CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) have volatilities of 17.69% and 17.22%, 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	ETHX-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.69%	17.22%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	46.87%	46.84%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	67.78%	68.09%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.06%	71.16%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.86%	74.04%	-1.18%

Dividends

ETHH.TO vs. ETHX-U.TO - Dividend Comparison

Neither ETHH.TO nor ETHX-U.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.99, ETHH.TO and ETHX-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.

What is the main difference between ETHH.TO and ETHX-U.TO?

They also come from different issuers: Purpose Investments and CI.