ETHR.TO vs. BTCY-B.TO
ETHR.TO (Evolve Ether ETF CAD Unhedged Units) and BTCY-B.TO (Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units) are both Cryptocurrency funds. ETHR.TO is passively managed, while BTCY-B.TO is actively managed. Over the past 3 years, ETHR.TO returned -0.89%/yr vs 21.80%/yr for BTCY-B.TO. A 0.79 correlation means they provide meaningful diversification when combined.
Performance
ETHR.TO vs. BTCY-B.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ETHR.TO achieves a -37.53% return, which is significantly lower than BTCY-B.TO's -27.96% return.
ETHR.TO
- 1D
- -2.31%
- 1M
- 5.11%
- 6M
- -44.33%
- YTD
- -37.53%
- 1Y
- -46.21%
- 3Y*
- -0.89%
- 5Y*
- -0.63%
- 10Y*
- —
BTCY-B.TO
- 1D
- 0.00%
- 1M
- -0.63%
- 6M
- -34.93%
- YTD
- -27.96%
- 1Y
- -46.59%
- 3Y*
- 21.80%
- 5Y*
- —
- 10Y*
- —
ETHR.TO vs. BTCY-B.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETHR.TO Evolve Ether ETF CAD Unhedged Units | -37.53% | -17.01% | 52.43% | 87.70% | -65.64% | -18.22% |
BTCY-B.TO Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units | -27.96% | -11.51% | 113.48% | 107.21% | -60.74% | -22.33% |
Correlation
The correlation between ETHR.TO and BTCY-B.TO is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2021 | 0.79 |
The correlation between ETHR.TO and BTCY-B.TO has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
ETHR.TO vs. BTCY-B.TO — Risk / Return Rank
ETHR.TO
BTCY-B.TO
ETHR.TO vs. BTCY-B.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Evolve Ether ETF CAD Unhedged Units (ETHR.TO) and Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.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.
| ETHR.TO | BTCY-B.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.84 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.85 | +0.17 |
| Martin ratioReturn relative to average drawdown | -1.05 | -1.36 | +0.31 |
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Drawdowns
ETHR.TO vs. BTCY-B.TO - Drawdown Comparison
The maximum ETHR.TO drawdown since its inception was -78.36%, which is greater than BTCY-B.TO's maximum drawdown of -71.05%. Use the drawdown chart below to compare losses from any high point for ETHR.TO and BTCY-B.TO.
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Drawdown Indicators
| ETHR.TO | BTCY-B.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.36% | -71.05% | -7.31% |
Max Drawdown (1Y)Largest decline over 1 year | -67.67% | -54.74% | -12.93% |
Max Drawdown (3Y)Largest decline over 3 years | -67.67% | -54.74% | -12.93% |
Max Drawdown (5Y)Largest decline over 5 years | -78.36% | — | — |
Current DrawdownCurrent decline from peak | -62.15% | -50.04% | -12.11% |
Average DrawdownAverage peak-to-trough decline | -43.93% | -32.81% | -11.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.18% | 34.25% | +9.93% |
Volatility
ETHR.TO vs. BTCY-B.TO - Volatility Comparison
Evolve Ether ETF CAD Unhedged Units (ETHR.TO) has a higher volatility of 14.30% compared to Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units (BTCY-B.TO) at 12.53%. This indicates that ETHR.TO's price experiences larger fluctuations and is considered to be riskier than BTCY-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHR.TO | BTCY-B.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.30% | 12.53% | +1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 46.47% | 41.55% | +4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.16% | 49.31% | +16.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.73% | 49.66% | +19.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.56% | 49.66% | +21.90% |
Dividends
ETHR.TO vs. BTCY-B.TO - Dividend Comparison
ETHR.TO has not paid dividends to shareholders, while BTCY-B.TO's dividend yield for the trailing twelve months is around 21.88%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BTCY-B.TO Purpose Bitcoin Yield ETF CAD Non-Currency Hedged Units | 21.88% | 14.33% | 7.69% | 9.31% | 19.45% | 1.25% |
ETHR.TO Evolve Ether ETF CAD Unhedged Units | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHR.TO and BTCY-B.TO have a correlation of 0.85, 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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