ETHR.TO vs. BTCY.TO
ETHR.TO (Evolve Ether ETF CAD Unhedged Units) and BTCY.TO (Purpose Bitcoin Yield ETF) are both Cryptocurrency funds. ETHR.TO is passively managed, while BTCY.TO is actively managed. Over the past 3 years, ETHR.TO returned 0.08%/yr vs 20.27%/yr for BTCY.TO. Their correlation of 0.82 means they have usually moved in the same direction. ETHR.TO charges 0.75%/yr vs 1.43%/yr for BTCY.TO.
Performance
ETHR.TO vs. BTCY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ETHR.TO achieves a -36.57% return, which is significantly lower than BTCY.TO's -32.82% return.
ETHR.TO
- 1D
- -2.72%
- 1M
- 5.28%
- 6M
- -18.46%
- YTD
- -36.57%
- 1Y
- -47.10%
- 3Y*
- 0.08%
- 5Y*
- -4.36%
- 10Y*
- —
- ALL TIME*
- -3.37%
BTCY.TO
- 1D
- -3.14%
- 1M
- 1.57%
- 6M
- -23.57%
- YTD
- -32.82%
- 1Y
- -48.32%
- 3Y*
- 20.27%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTCY.TO Purpose Bitcoin Yield ETF | CA$146.98K | CA$136.83K | CA$230.47K |
| CA$73.21K | CA$77.18K | CA$116.32K |
ETHR.TO vs. BTCY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETHR.TO Evolve Ether ETF CAD Unhedged Units | -36.57% | -17.01% | 52.43% | 87.70% | -65.64% | -20.54% |
BTCY.TO Purpose Bitcoin Yield ETF | -32.82% | -9.07% | 112.59% | 111.84% | -64.51% | -18.42% |
Correlation
The correlation between ETHR.TO and BTCY.TO is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2021 | 0.82 |
The correlation between ETHR.TO and BTCY.TO has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
ETHR.TO vs. BTCY.TO — Risk / Return Rank
ETHR.TO
BTCY.TO
ETHR.TO vs. BTCY.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 (BTCY.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.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.83 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.89 | +0.14 |
| Martin ratioReturn relative to average drawdown | -1.10 | -1.40 | +0.30 |
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Drawdowns
ETHR.TO vs. BTCY.TO - Drawdown Comparison
The maximum ETHR.TO drawdown since its inception was -78.36%, which is greater than BTCY.TO's maximum drawdown of -71.53%. Use the drawdown chart below to compare losses from any high point for ETHR.TO and BTCY.TO.
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Drawdown Indicators
| ETHR.TO | BTCY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.36% | -71.53% | -6.83% |
Max Drawdown (1Y)Largest decline over 1 year | -67.67% | -56.40% | -11.27% |
Max Drawdown (3Y)Largest decline over 3 years | -67.67% | -56.40% | -11.27% |
Max Drawdown (5Y)Largest decline over 5 years | -78.36% | — | — |
Current DrawdownCurrent decline from peak | -61.57% | -52.41% | -9.16% |
Average DrawdownAverage peak-to-trough decline | -44.06% | -33.72% | -10.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.80% | 35.54% | +10.26% |
Volatility
ETHR.TO vs. BTCY.TO - Volatility Comparison
Evolve Ether ETF CAD Unhedged Units (ETHR.TO) has a higher volatility of 11.63% compared to Purpose Bitcoin Yield ETF (BTCY.TO) at 10.89%. This indicates that ETHR.TO's price experiences larger fluctuations and is considered to be riskier than BTCY.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.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.63% | 10.89% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 45.68% | 41.24% | +4.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.89% | 49.59% | +16.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.18% | 50.78% | +17.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.38% | 50.78% | +20.60% |
ETHR.TO vs. BTCY.TO - Expense Ratio Comparison
ETHR.TO has a 0.75% expense ratio, which is lower than BTCY.TO's 1.43% expense ratio.
Dividends
ETHR.TO vs. BTCY.TO - Dividend Comparison
ETHR.TO has not paid dividends to shareholders, while BTCY.TO's dividend yield for the trailing twelve months is around 25.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BTCY.TO Purpose Bitcoin Yield ETF | 25.44% | 15.11% | 16.69% | 9.20% | 24.17% | 1.23% |
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.TO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETHR.TO is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETHR.TO is cheaper with a 0.75% expense ratio, compared with 1.43% for BTCY.TO.
They also come from different issuers: Evolve and Purpose. Their fees differ too: 0.75% for ETHR.TO and 1.43% for BTCY.TO.
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