ETHX-B.TO vs. SOLA.TO

Last updated Jul 18, 2026

ETHX-B.TO (CI Galaxy Ethereum ETF) and SOLA.TO (Evolve Solana ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, ETHX-B.TO returned -45.22% vs -57.79% for SOLA.TO. Their correlation of 0.84 suggests significant overlap in exposure.

Performance

ETHX-B.TO vs. SOLA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Galaxy Ethereum ETF (ETHX-B.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, ETHX-B.TO achieves a -36.70% return, which is significantly higher than SOLA.TO's -40.28% return.

ETHX-B.TO

• 1D: -1.93%
• 1M: 5.41%
• 6M: -43.63%
• YTD: -36.70%
• 1Y: -45.22%
• 3Y*: 0.63%
• 5Y*: 0.58%
• 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)

ETHX-B.TO vs. SOLA.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ETHX-B.TO CI Galaxy Ethereum ETF	-36.70%	80.88%
SOLA.TO Evolve Solana ETF	-40.28%	-5.66%

Correlation

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

Return for Risk

ETHX-B.TO vs. SOLA.TO — Risk / Return Rank

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

ETHX-B.TO

ETHX-B.TO Risk / Return Rank: 4
ETHX-B.TO Sharpe Ratio Rank: 4
ETHX-B.TO Sortino Ratio Rank: 4
ETHX-B.TO Omega Ratio Rank: 4
ETHX-B.TO Calmar Ratio Rank: 4
ETHX-B.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.

ETHX-B.TO vs. SOLA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Galaxy Ethereum ETF (ETHX-B.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.

	ETHX-B.TO	SOLA.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	-0.79	+0.10
Sortino ratio: Return per unit of downside risk	-0.82	-1.15	+0.32
Omega ratio: Gain probability vs. loss probability	0.91	0.88	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.68	-0.78	+0.10
Martin ratio: Return relative to average drawdown	-1.03	-1.13	+0.10

ETHX-B.TO vs. SOLA.TO - Sharpe Ratio Comparison

The current ETHX-B.TO Sharpe Ratio is -0.69, which is comparable to the SOLA.TO Sharpe Ratio of -0.79. The chart below compares the historical Sharpe Ratios of ETHX-B.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

ETHX-B.TO vs. SOLA.TO - Drawdown Comparison

The maximum ETHX-B.TO drawdown since its inception was -78.38%, roughly equal to the maximum SOLA.TO drawdown of -74.77%. Use the drawdown chart below to compare losses from any high point for ETHX-B.TO and SOLA.TO.

Drawdown Indicators

	ETHX-B.TO	SOLA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.38%	-74.77%	-3.61%
Max Drawdown (1Y) Largest decline over 1 year	-67.14%	-74.77%	+7.63%
Max Drawdown (3Y) Largest decline over 3 years	-67.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-78.38%	—	—
Current Drawdown Current decline from peak	-61.51%	-70.51%	+9.00%
Average Drawdown Average peak-to-trough decline	-43.19%	-38.42%	-4.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.92%	51.42%	-7.50%

Volatility

ETHX-B.TO vs. SOLA.TO - Volatility Comparison

The current volatility for CI Galaxy Ethereum ETF (ETHX-B.TO) is 13.81%, while Evolve Solana ETF (SOLA.TO) has a volatility of 20.29%. This indicates that ETHX-B.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

	ETHX-B.TO	SOLA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.81%	20.29%	-6.48%
Volatility (6M) Calculated over the trailing 6-month period	45.49%	52.22%	-6.73%
Volatility (1Y) Calculated over the trailing 1-year period	65.74%	73.69%	-7.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.84%	72.35%	-3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.70%	72.35%	-0.65%

Dividends

ETHX-B.TO vs. SOLA.TO - Dividend Comparison

Neither ETHX-B.TO nor SOLA.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHX-B.TO and SOLA.TO in my portfolio?

ETHX-B.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.

What is the main difference between ETHX-B.TO and SOLA.TO?

They also come from different issuers: CI and Evolve.