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ETHX-B.TO vs. VXM-B.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ETHX-B.TO vs. VXM-B.TO

Last updated Jul 1, 2026
See Documentation

ETHX-B.TO (CI Galaxy Ethereum ETF) and VXM-B.TO (CI Morningstar International Value Index ETF (Unhedged)) are both exchange-traded funds - ETHX-B.TO is a Cryptocurrency fund actively managed by CI, while VXM-B.TO is a Foreign Small & Mid Cap Equities fund tracking the Morningstar Developed Markets ex-North America Target Value Index. ETHX-B.TO is actively managed, while VXM-B.TO is passively managed. Over the past 5 years, ETHX-B.TO returned -5.01%/yr vs 17.52%/yr for VXM-B.TO. At a 0.12 correlation, their price movements are largely independent.

Performance

ETHX-B.TO vs. VXM-B.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 CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO). The values are adjusted to include any dividend payments, if applicable.

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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 VXM-B.TO's 8.67% 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*
—

VXM-B.TO

1D
-1.19%
1M
-2.28%
YTD
8.67%
6M
8.70%
1Y
28.44%
3Y*
27.12%
5Y*
17.52%
10Y*
12.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
ETHX-B.TO
CI Galaxy Ethereum ETF		-45.06%-15.87%55.80%90.02%-65.68%64.85%
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		8.67%46.74%18.34%18.89%-2.50%0.38%

Correlation

The correlation between ETHX-B.TO and VXM-B.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.20

Correlation (3Y)
Calculated over the trailing 3-year period

0.11

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Apr 20, 2021

0.12

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Galaxy Ethereum ETF

CI Morningstar International Value Index ETF (Unhedged)

Often compared with VXM-B.TO:
VXM-B.TO vs. CMNY.TOVXM-B.TO vs. CGXF.TOVXM-B.TO vs. CCOM.TOVXM-B.TO vs. CEQT.TOVXM-B.TO vs. NXF.TOVXM-B.TO vs. CIC.TOVXM-B.TO vs. CBCX.TO

Return for Risk

ETHX-B.TO vs. VXM-B.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: 66
Overall Rank
ETHX-B.TO Sharpe Ratio Rank: 55
Sharpe Ratio Rank
ETHX-B.TO Sortino Ratio Rank: 66
Sortino Ratio Rank
ETHX-B.TO Omega Ratio Rank: 66
Omega Ratio Rank
ETHX-B.TO Calmar Ratio Rank: 55
Calmar Ratio Rank
ETHX-B.TO Martin Ratio Rank: 66
Martin Ratio Rank
VXM-B.TO
VXM-B.TO Risk / Return Rank: 7272
Overall Rank
VXM-B.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
VXM-B.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
VXM-B.TO Omega Ratio Rank: 7777
Omega Ratio Rank
VXM-B.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
VXM-B.TO Martin Ratio Rank: 6565
Martin Ratio Rank
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. VXM-B.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 Morningstar International Value Index ETF (Unhedged) (VXM-B.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.TOVXM-B.TODifference
Sharpe ratioReturn per unit of total volatility
-0.53
2.14

-2.66

Sortino ratioReturn per unit of downside risk
-0.44
2.91

-3.36

Omega ratioGain probability vs. loss probability

0.95

1.38

-0.43

Calmar ratioReturn relative to maximum drawdown

-0.52

2.76

-3.29

Martin ratioReturn relative to average drawdown

-0.84

9.99

-10.83

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

The current ETHX-B.TO Sharpe Ratio is -0.53, which is lower than the VXM-B.TO Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of ETHX-B.TO and VXM-B.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.

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Drawdowns

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

The maximum ETHX-B.TO drawdown since its inception was -78.38%, which is greater than VXM-B.TO's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for ETHX-B.TO and VXM-B.TO.

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Drawdown Indicators

ETHX-B.TOVXM-B.TODifference

Max Drawdown

Largest peak-to-trough decline

-78.38%

-38.71%

-39.67%

Max Drawdown (1Y)

Largest decline over 1 year

-67.14%

-10.33%

-56.81%

Max Drawdown (3Y)

Largest decline over 3 years

-67.14%

-13.31%

-53.83%

Max Drawdown (5Y)

Largest decline over 5 years

-78.38%

-22.12%

-56.26%

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.71%

—

Current Drawdown

Current decline from peak

-66.60%

-4.06%

-62.54%

Average Drawdown

Average peak-to-trough decline

-43.02%

-7.79%

-35.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

41.78%

2.85%

+38.93%

Volatility

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

CI Galaxy Ethereum ETF (ETHX-B.TO) has a higher volatility of 19.42% compared to CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) at 3.76%. This indicates that ETHX-B.TO's price experiences larger fluctuations and is considered to be riskier than VXM-B.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.TOVXM-B.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

19.42%

3.76%

+15.66%

Volatility (6M)

Calculated over the trailing 6-month period

45.25%

10.89%

+34.36%

Volatility (1Y)

Calculated over the trailing 1-year period

66.77%

13.37%

+53.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

69.08%

13.75%

+55.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

71.86%

15.15%

+56.71%

Dividends

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

ETHX-B.TO has not paid dividends to shareholders, while VXM-B.TO's dividend yield for the trailing twelve months is around 2.01%.

PositionTTM20252024202320222021202020192018201720162015
ETHX-B.TO
CI Galaxy Ethereum ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		2.01%2.21%3.97%3.67%3.67%2.05%2.18%1.59%2.05%1.52%1.42%1.04%

Frequently Asked Questions

ETHX-B.TO and VXM-B.TO have a correlation of 0.20, 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 VXM-B.TO is Foreign Small & Mid Cap Equities.

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