ETHR.TO vs. SOLA.TO

Last updated Jul 18, 2026

ETHR.TO (Evolve Ether ETF CAD Unhedged Units) and SOLA.TO (Evolve Solana ETF) are both Cryptocurrency funds from Evolve. ETHR.TO is passively managed, while SOLA.TO is actively managed. Over the past year, ETHR.TO returned -46.21% vs -57.79% for SOLA.TO. Their correlation of 0.84 suggests significant overlap in exposure.

Performance

ETHR.TO vs. SOLA.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 Solana ETF (SOLA.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHR.TO achieves a -37.53% return, which is significantly higher than SOLA.TO's -40.28% 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*: —

SOLA.TO

• 1D: -3.01%
• 1M: 2.82%
• 6M: -49.35%
• YTD: -40.28%
• 1Y: -57.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
ETHR.TO Evolve Ether ETF CAD Unhedged Units	-37.53%	78.94%
SOLA.TO Evolve Solana ETF	-40.28%	-5.66%

Correlation

The correlation between ETHR.TO and SOLA.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 (All Time) Calculated using the full available price history since Apr 16, 2025	0.84

The correlation between ETHR.TO and SOLA.TO has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

Return for Risk

ETHR.TO vs. SOLA.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: 4
ETHR.TO Sharpe Ratio Rank: 4
ETHR.TO Sortino Ratio Rank: 4
ETHR.TO Omega Ratio Rank: 4
ETHR.TO Calmar Ratio Rank: 4
ETHR.TO Martin Ratio Rank: 5

SOLA.TO

SOLA.TO Risk / Return Rank: 3
SOLA.TO Sharpe Ratio Rank: 3
SOLA.TO Sortino Ratio Rank: 3
SOLA.TO Omega Ratio Rank: 3
SOLA.TO Calmar Ratio Rank: 3
SOLA.TO Martin Ratio Rank: 4

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. SOLA.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 Solana ETF (SOLA.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	SOLA.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	-0.79	+0.09
Sortino ratio: Return per unit of downside risk	-0.86	-1.15	+0.29
Omega ratio: Gain probability vs. loss probability	0.91	0.88	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.68	-0.78	+0.09
Martin ratio: Return relative to average drawdown	-1.05	-1.13	+0.08

ETHR.TO vs. SOLA.TO - Sharpe Ratio Comparison

The current ETHR.TO Sharpe Ratio is -0.70, which is comparable to the SOLA.TO Sharpe Ratio of -0.79. The chart below compares the historical Sharpe Ratios of ETHR.TO and SOLA.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

ETHR.TO vs. SOLA.TO - Drawdown Comparison

The maximum ETHR.TO drawdown since its inception was -78.36%, roughly equal to the maximum SOLA.TO drawdown of -74.77%. Use the drawdown chart below to compare losses from any high point for ETHR.TO and SOLA.TO.

Drawdown Indicators

	ETHR.TO	SOLA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.36%	-74.77%	-3.59%
Max Drawdown (1Y) Largest decline over 1 year	-67.67%	-74.77%	+7.10%
Max Drawdown (3Y) Largest decline over 3 years	-67.67%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-78.36%	—	—
Current Drawdown Current decline from peak	-62.15%	-70.51%	+8.36%
Average Drawdown Average peak-to-trough decline	-43.93%	-38.42%	-5.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.18%	51.42%	-7.24%

Volatility

ETHR.TO vs. SOLA.TO - Volatility Comparison

The current volatility for Evolve Ether ETF CAD Unhedged Units (ETHR.TO) is 14.30%, while Evolve Solana ETF (SOLA.TO) has a volatility of 20.29%. This indicates that ETHR.TO experiences smaller price fluctuations and is considered to be less risky than SOLA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHR.TO	SOLA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.30%	20.29%	-5.99%
Volatility (6M) Calculated over the trailing 6-month period	46.47%	52.22%	-5.75%
Volatility (1Y) Calculated over the trailing 1-year period	66.16%	73.69%	-7.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.73%	72.35%	-3.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.56%	72.35%	-0.79%

Dividends

ETHR.TO vs. SOLA.TO - Dividend Comparison

Neither ETHR.TO nor SOLA.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHR.TO and SOLA.TO in my portfolio?

ETHR.TO and SOLA.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.