ETHX-U.TO vs. BTCC-U.TO

Last updated Jul 1, 2026

ETHX-U.TO (CI Galaxy Ethereum ETF (US$ Series)) and BTCC-U.TO (Purpose Bitcoin ETF Non-Currency Hedged Units) are both Cryptocurrency funds. Both are actively managed. Over the past 5 years, ETHX-U.TO returned -7.54%/yr vs 9.53%/yr for BTCC-U.TO. Their correlation of 0.81 suggests significant overlap in exposure.

Performance

ETHX-U.TO vs. BTCC-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) and Purpose Bitcoin ETF Non-Currency Hedged Units (BTCC-U.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHX-U.TO achieves a -46.97% return, which is significantly lower than BTCC-U.TO's -33.01% return.

ETHX-U.TO

• 1D: -2.51%
• 1M: -21.61%
• YTD: -46.97%
• 6M: -46.77%
• 1Y: -37.56%
• 3Y*: -7.06%
• 5Y*: -7.54%
• 10Y*: —

BTCC-U.TO

• 1D: -2.26%
• 1M: -19.83%
• YTD: -33.01%
• 6M: -33.23%
• 1Y: -45.94%
• 3Y*: 22.88%
• 5Y*: 9.53%
• 10Y*: —

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

ETHX-U.TO vs. BTCC-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	-46.97%	-11.53%	43.46%	93.31%	-67.94%	63.87%
BTCC-U.TO Purpose Bitcoin ETF Non-Currency Hedged Units	-33.01%	-7.46%	118.51%	153.14%	-64.85%	-18.91%

Correlation

The correlation between ETHX-U.TO and BTCC-U.TO is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Apr 20, 2021	0.81

The correlation between ETHX-U.TO and BTCC-U.TO has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

Return for Risk

ETHX-U.TO vs. BTCC-U.TO — Risk / Return Rank

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

ETHX-U.TO

ETHX-U.TO Risk / Return Rank: 5
ETHX-U.TO Sharpe Ratio Rank: 5
ETHX-U.TO Sortino Ratio Rank: 6
ETHX-U.TO Omega Ratio Rank: 6
ETHX-U.TO Calmar Ratio Rank: 5
ETHX-U.TO Martin Ratio Rank: 6

BTCC-U.TO

BTCC-U.TO Risk / Return Rank: 2
BTCC-U.TO Sharpe Ratio Rank: 1
BTCC-U.TO Sortino Ratio Rank: 2
BTCC-U.TO Omega Ratio Rank: 2
BTCC-U.TO Calmar Ratio Rank: 2
BTCC-U.TO Martin Ratio Rank: 2

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-U.TO vs. BTCC-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) and Purpose Bitcoin ETF Non-Currency Hedged Units (BTCC-U.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-U.TO	BTCC-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	-1.04	+0.48
Sortino ratio: Return per unit of downside risk	-0.51	-1.57	+1.06
Omega ratio: Gain probability vs. loss probability	0.94	0.83	+0.12
Calmar ratio: Return relative to maximum drawdown	-0.55	-0.86	+0.31
Martin ratio: Return relative to average drawdown	-0.90	-1.45	+0.55

ETHX-U.TO vs. BTCC-U.TO - Sharpe Ratio Comparison

The current ETHX-U.TO Sharpe Ratio is -0.56, which is higher than the BTCC-U.TO Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of ETHX-U.TO and BTCC-U.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-U.TO vs. BTCC-U.TO - Drawdown Comparison

The maximum ETHX-U.TO drawdown since its inception was -79.05%, roughly equal to the maximum BTCC-U.TO drawdown of -76.91%. Use the drawdown chart below to compare losses from any high point for ETHX-U.TO and BTCC-U.TO.

Drawdown Indicators

	ETHX-U.TO	BTCC-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-79.05%	-76.91%	-2.14%
Max Drawdown (1Y) Largest decline over 1 year	-68.04%	-53.49%	-14.55%
Max Drawdown (3Y) Largest decline over 3 years	-68.04%	-53.49%	-14.55%
Max Drawdown (5Y) Largest decline over 5 years	-79.05%	-76.91%	-2.14%
Current Drawdown Current decline from peak	-68.18%	-53.49%	-14.69%
Average Drawdown Average peak-to-trough decline	-46.24%	-34.23%	-12.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.96%	31.79%	+10.17%

Volatility

ETHX-U.TO vs. BTCC-U.TO - Volatility Comparison

CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) has a higher volatility of 20.94% compared to Purpose Bitcoin ETF Non-Currency Hedged Units (BTCC-U.TO) at 13.50%. This indicates that ETHX-U.TO's price experiences larger fluctuations and is considered to be riskier than BTCC-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHX-U.TO	BTCC-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.94%	13.50%	+7.44%
Volatility (6M) Calculated over the trailing 6-month period	46.21%	34.90%	+11.31%
Volatility (1Y) Calculated over the trailing 1-year period	67.86%	44.30%	+23.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.03%	54.51%	+16.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.85%	56.26%	+17.59%

Dividends

ETHX-U.TO vs. BTCC-U.TO - Dividend Comparison

Neither ETHX-U.TO nor BTCC-U.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHX-U.TO and BTCC-U.TO in my portfolio?

ETHX-U.TO and BTCC-U.TO have a correlation of 0.87, 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-U.TO and BTCC-U.TO?

They also come from different issuers: CI and Purpose Investments.