ETHH.TO vs. ETHY-U.TO
ETHH.TO (Purpose Ether ETF) and ETHY-U.TO (Purpose Ether Yield ETF USD Non-Currency Hedged Units) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, ETHH.TO returned -4.28%/yr vs -11.22%/yr for ETHY-U.TO. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
ETHH.TO vs. ETHY-U.TO - Performance Comparison
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Different Trading Currencies
ETHH.TO is traded in CAD, while ETHY-U.TO is traded in USD. To make them comparable, the ETHY-U.TO values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with ETHH.TO having a -39.58% return and ETHY-U.TO slightly higher at -39.51%.
ETHH.TO
- 1D
- -1.58%
- 1M
- 6.05%
- 6M
- -45.28%
- YTD
- -39.58%
- 1Y
- -48.26%
- 3Y*
- -4.28%
- 5Y*
- -4.48%
- 10Y*
- —
ETHY-U.TO
- 1D
- -0.10%
- 1M
- 8.82%
- 6M
- -45.78%
- YTD
- -39.51%
- 1Y
- -46.72%
- 3Y*
- -11.22%
- 5Y*
- —
- 10Y*
- —
ETHH.TO vs. ETHY-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETHH.TO Purpose Ether ETF | -39.58% | -14.37% | 38.87% | 91.16% | -69.16% | -9.17% |
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units | -39.51% | -18.68% | 26.49% | 48.65% | -70.76% | -10.04% |
Correlation
The correlation between ETHH.TO and ETHY-U.TO is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2021 | 0.65 |
The correlation between ETHH.TO and ETHY-U.TO shifts across timeframes, from 0.62 (3 years) to 0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ETHH.TO vs. ETHY-U.TO — Risk / Return Rank
ETHH.TO
ETHY-U.TO
ETHH.TO vs. ETHY-U.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Ether ETF (ETHH.TO) and Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-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 | ETHY-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.93 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | -0.66 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.08 | -1.05 | -0.03 |
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Drawdowns
ETHH.TO vs. ETHY-U.TO - Drawdown Comparison
The maximum ETHH.TO drawdown since its inception was -79.46%, roughly equal to the maximum ETHY-U.TO drawdown of -81.32%. Use the drawdown chart below to compare losses from any high point for ETHH.TO and ETHY-U.TO.
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Drawdown Indicators
| ETHH.TO | ETHY-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.46% | -81.32% | +1.86% |
Max Drawdown (1Y)Largest decline over 1 year | -68.96% | -70.17% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -68.96% | -70.17% | +1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -79.46% | — | — |
Current DrawdownCurrent decline from peak | -67.78% | -76.13% | +8.35% |
Average DrawdownAverage peak-to-trough decline | -49.51% | -60.32% | +10.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.73% | 44.25% | +0.48% |
Volatility
ETHH.TO vs. ETHY-U.TO - Volatility Comparison
The current volatility for Purpose Ether ETF (ETHH.TO) is 14.98%, while Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.TO) has a volatility of 30.91%. This indicates that ETHH.TO experiences smaller price fluctuations and is considered to be less risky than ETHY-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
| ETHH.TO | ETHY-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.98% | 30.91% | -15.93% |
Volatility (6M)Calculated over the trailing 6-month period | 46.56% | 62.05% | -15.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.87% | 78.09% | -11.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.03% | 68.74% | +1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.79% | 68.74% | +4.05% |
Dividends
ETHH.TO vs. ETHY-U.TO - Dividend Comparison
ETHH.TO has not paid dividends to shareholders, while ETHY-U.TO's dividend yield for the trailing twelve months is around 40.75%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHH.TO Purpose Ether ETF | 0.00% | 0.00% | 0.00% |
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units | 40.75% | 18.89% | 3.10% |
Frequently Asked Questions
ETHH.TO and ETHY-U.TO have a correlation of 0.74, 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: Purpose Investments and Purpose.
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