ETHR.TO vs. CANY.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Evolve Ether ETF CAD Unhedged Units (ETHR.TO) and Evolve Canadian Equity UltraYield ETF (CANY.TO).

ETHR.TO and CANY.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. CANY.TO is an actively managed fund by Evolve. It was launched on Sep 17, 2025.

Performance

ETHR.TO vs. CANY.TO - Performance Comparison

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

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

	2026 (YTD)	2025
ETHR.TO Evolve Ether ETF CAD Unhedged Units	-28.50%	-36.03%
CANY.TO Evolve Canadian Equity UltraYield ETF	1.73%	5.75%

Returns By Period

In the year-to-date period, ETHR.TO achieves a -28.50% return, which is significantly lower than CANY.TO's 1.73% return.

ETHR.TO

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

CANY.TO

• 1D: 2.98%
• 1M: -1.92%
• YTD: 1.73%
• 6M: 6.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

ETHR.TO has a 0.75% expense ratio, which is higher than CANY.TO's 0.40% expense ratio.

ETHR.TO

Evolve Ether ETF CAD Unhedged Units

CANY.TO

Evolve Canadian Equity UltraYield ETF

Return for Risk

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

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

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.

ETHR.TO vs. CANY.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 Evolve Canadian Equity UltraYield ETF (CANY.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.

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

Sharpe Ratios by Period

	ETHR.TO	CANY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.83	-0.85

Correlation

The correlation between ETHR.TO and CANY.TO is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ETHR.TO vs. CANY.TO - Dividend Comparison

ETHR.TO has not paid dividends to shareholders, while CANY.TO's dividend yield for the trailing twelve months is around 11.28%.

	TTM	2025
ETHR.TO Evolve Ether ETF CAD Unhedged Units	0.00%	0.00%
CANY.TO Evolve Canadian Equity UltraYield ETF	11.28%	5.87%

Drawdowns

ETHR.TO vs. CANY.TO - Drawdown Comparison

The maximum ETHR.TO drawdown since its inception was -78.36%, which is greater than CANY.TO's maximum drawdown of -8.34%. Use the drawdown chart below to compare losses from any high point for ETHR.TO and CANY.TO.

Drawdown Indicators

	ETHR.TO	CANY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.36%	-8.34%	-70.02%
Max Drawdown (1Y) Largest decline over 1 year	-62.29%	—	—
Current Drawdown Current decline from peak	-56.68%	-3.83%	-52.85%
Average Drawdown Average peak-to-trough decline	-43.06%	-2.48%	-40.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.72%	—	—

Volatility

Volatility by Period

	ETHR.TO	CANY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	52.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	74.21%	18.03%	+56.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.62%	18.03%	+54.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.62%	18.03%	+54.59%