ETHX-B.TO vs. ETHY.TO
ETHX-B.TO (CI Galaxy Ethereum ETF) and ETHY.TO (Purpose Ether Yield ETF - ETF Units) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, ETHX-B.TO returned -4.92%/yr vs -14.55%/yr for ETHY.TO. With a 0.95 correlation, they move nearly in lockstep.
Performance
ETHX-B.TO vs. ETHY.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 higher than ETHY.TO's -55.10% 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*
- —
ETHY.TO
- 1D
- -3.81%
- 1M
- -28.05%
- YTD
- -55.10%
- 6M
- -54.42%
- 1Y
- -47.15%
- 3Y*
- -14.55%
- 5Y*
- —
- 10Y*
- —
ETHX-B.TO vs. ETHY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETHX-B.TO CI Galaxy Ethereum ETF | -45.06% | -15.87% | 55.80% | 90.02% | -65.68% | -21.33% |
ETHY.TO Purpose Ether Yield ETF - ETF Units | -55.10% | -16.24% | 40.99% | 70.87% | -67.53% | -19.45% |
Correlation
The correlation between ETHX-B.TO and ETHY.TO is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.95 |
The correlation between ETHX-B.TO and ETHY.TO has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
ETHX-B.TO vs. ETHY.TO — Risk / Return Rank
ETHX-B.TO
ETHY.TO
ETHX-B.TO vs. ETHY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Galaxy Ethereum ETF (ETHX-B.TO) and Purpose Ether Yield ETF - ETF Units (ETHY.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 | ETHY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.92 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | -0.66 | +0.14 |
| Martin ratioReturn relative to average drawdown | -0.84 | -1.11 | +0.28 |
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Drawdowns
ETHX-B.TO vs. ETHY.TO - Drawdown Comparison
The maximum ETHX-B.TO drawdown since its inception was -78.38%, roughly equal to the maximum ETHY.TO drawdown of -77.54%. Use the drawdown chart below to compare losses from any high point for ETHX-B.TO and ETHY.TO.
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Drawdown Indicators
| ETHX-B.TO | ETHY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.38% | -77.54% | -0.84% |
Max Drawdown (1Y)Largest decline over 1 year | -67.14% | -71.48% | +4.34% |
Max Drawdown (3Y)Largest decline over 3 years | -67.14% | -71.48% | +4.34% |
Max Drawdown (5Y)Largest decline over 5 years | -78.38% | — | — |
Current DrawdownCurrent decline from peak | -66.60% | -76.30% | +9.70% |
Average DrawdownAverage peak-to-trough decline | -43.02% | -53.23% | +10.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.78% | 42.33% | -0.55% |
Volatility
ETHX-B.TO vs. ETHY.TO - Volatility Comparison
The current volatility for CI Galaxy Ethereum ETF (ETHX-B.TO) is 19.42%, while Purpose Ether Yield ETF - ETF Units (ETHY.TO) has a volatility of 27.21%. This indicates that ETHX-B.TO experiences smaller price fluctuations and is considered to be less risky than ETHY.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 | ETHY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.42% | 27.21% | -7.79% |
Volatility (6M)Calculated over the trailing 6-month period | 45.25% | 55.22% | -9.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.77% | 72.10% | -5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.08% | 65.78% | +3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.86% | 65.78% | +6.08% |
Dividends
ETHX-B.TO vs. ETHY.TO - Dividend Comparison
ETHX-B.TO has not paid dividends to shareholders, while ETHY.TO's dividend yield for the trailing twelve months is around 55.52%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ETHX-B.TO CI Galaxy Ethereum ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ETHY.TO Purpose Ether Yield ETF - ETF Units | 55.52% | 19.26% | 21.40% | 10.34% | 26.08% | 0.63% |
Frequently Asked Questions
With a correlation of 0.97, ETHX-B.TO and ETHY.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
They also come from different issuers: CI and Purpose Investments.
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