ETHX-B.TO vs. CBCX.TO
ETHX-B.TO (CI Galaxy Ethereum ETF) and CBCX.TO (CI Galaxy Blockchain Index ETF CAD) are both exchange-traded funds - ETHX-B.TO is a Cryptocurrency fund actively managed by CI, while CBCX.TO is a Blockchain fund tracking the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Technology NTR Hedged (CAD). ETHX-B.TO is actively managed, while CBCX.TO is passively managed. Over the past 3 years, ETHX-B.TO returned -4.92%/yr vs 46.73%/yr for CBCX.TO. At a 0.21 correlation, their price movements are largely independent.
Performance
ETHX-B.TO vs. CBCX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ETHX-B.TO achieves a -45.06% return, which is significantly lower than CBCX.TO's 6.72% return.
ETHX-B.TO
- 1D
- -2.57%
- 1M
- -19.45%
- YTD
- -45.06%
- 6M
- -44.60%
- 1Y
- -34.89%
- 3Y*
- -4.92%
- 5Y*
- -5.01%
- 10Y*
- —
CBCX.TO
- 1D
- 0.53%
- 1M
- -8.66%
- YTD
- 6.72%
- 6M
- 4.92%
- 1Y
- 36.52%
- 3Y*
- 46.73%
- 5Y*
- —
- 10Y*
- —
ETHX-B.TO vs. CBCX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ETHX-B.TO CI Galaxy Ethereum ETF | -45.06% | -15.87% | 55.80% | 90.02% | -54.14% |
CBCX.TO CI Galaxy Blockchain Index ETF CAD | 6.72% | 21.63% | 82.92% | 108.11% | -46.10% |
Correlation
The correlation between ETHX-B.TO and CBCX.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since May 9, 2022 | 0.21 |
The correlation between ETHX-B.TO and CBCX.TO shifts across timeframes, from 0.21 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ETHX-B.TO vs. CBCX.TO — Risk / Return Rank
ETHX-B.TO
CBCX.TO
ETHX-B.TO vs. CBCX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Galaxy Ethereum ETF (ETHX-B.TO) and CI Galaxy Blockchain Index ETF CAD (CBCX.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.
| ETHX-B.TO | CBCX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.15 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 0.68 | -1.20 |
| Martin ratioReturn relative to average drawdown | -0.84 | 1.20 | -2.04 |
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Drawdowns
ETHX-B.TO vs. CBCX.TO - Drawdown Comparison
The maximum ETHX-B.TO drawdown since its inception was -78.38%, which is greater than CBCX.TO's maximum drawdown of -55.21%. Use the drawdown chart below to compare losses from any high point for ETHX-B.TO and CBCX.TO.
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Drawdown Indicators
| ETHX-B.TO | CBCX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.38% | -55.21% | -23.17% |
Max Drawdown (1Y)Largest decline over 1 year | -67.14% | -54.19% | -12.95% |
Max Drawdown (3Y)Largest decline over 3 years | -67.14% | -55.21% | -11.93% |
Max Drawdown (5Y)Largest decline over 5 years | -78.38% | — | — |
Current DrawdownCurrent decline from peak | -66.60% | -35.09% | -31.51% |
Average DrawdownAverage peak-to-trough decline | -43.02% | -23.92% | -19.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.78% | 30.48% | +11.30% |
Volatility
ETHX-B.TO vs. CBCX.TO - Volatility Comparison
CI Galaxy Ethereum ETF (ETHX-B.TO) has a higher volatility of 19.42% compared to CI Galaxy Blockchain Index ETF CAD (CBCX.TO) at 17.68%. This indicates that ETHX-B.TO's price experiences larger fluctuations and is considered to be riskier than CBCX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHX-B.TO | CBCX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.42% | 17.68% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 45.25% | 42.50% | +2.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.77% | 61.19% | +5.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.08% | 62.66% | +6.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.86% | 62.66% | +9.20% |
Dividends
ETHX-B.TO vs. CBCX.TO - Dividend Comparison
ETHX-B.TO has not paid dividends to shareholders, while CBCX.TO's dividend yield for the trailing twelve months is around 0.03%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CBCX.TO CI Galaxy Blockchain Index ETF CAD | 0.03% | 0.14% | 0.13% | 0.06% |
ETHX-B.TO CI Galaxy Ethereum ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHX-B.TO and CBCX.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHX-B.TO is categorized as Cryptocurrency, while CBCX.TO is Blockchain.
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