ETHX-U.TO vs. BTCY-U.TO
ETHX-U.TO (CI Galaxy Ethereum ETF (US$ Series)) and BTCY-U.TO (Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, ETHX-U.TO returned -1.46%/yr vs 19.71%/yr for BTCY-U.TO. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
ETHX-U.TO vs. BTCY-U.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ETHX-U.TO achieves a -37.95% return, which is significantly lower than BTCY-U.TO's -29.77% return.
ETHX-U.TO
- 1D
- -1.80%
- 1M
- 6.50%
- 6M
- -44.06%
- YTD
- -37.95%
- 1Y
- -46.22%
- 3Y*
- -1.46%
- 5Y*
- -1.43%
- 10Y*
- —
BTCY-U.TO
- 1D
- -0.92%
- 1M
- -1.79%
- 6M
- -35.05%
- YTD
- -29.77%
- 1Y
- -47.89%
- 3Y*
- 19.71%
- 5Y*
- —
- 10Y*
- —
ETHX-U.TO vs. BTCY-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series) | -37.95% | -11.53% | 43.46% | 93.31% | -67.94% | -20.17% |
BTCY-U.TO Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units | -29.77% | -7.68% | 98.24% | 113.02% | -64.87% | -15.84% |
Correlation
The correlation between ETHX-U.TO and BTCY-U.TO is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.55 |
The correlation between ETHX-U.TO and BTCY-U.TO has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
ETHX-U.TO vs. BTCY-U.TO — Risk / Return Rank
ETHX-U.TO
BTCY-U.TO
ETHX-U.TO vs. BTCY-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 Yield ETF USD Non-Currency Hedged Units (BTCY-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 | BTCY-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.82 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.87 | +0.19 |
| Martin ratioReturn relative to average drawdown | -1.05 | -1.42 | +0.37 |
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Drawdowns
ETHX-U.TO vs. BTCY-U.TO - Drawdown Comparison
The maximum ETHX-U.TO drawdown since its inception was -79.05%, which is greater than BTCY-U.TO's maximum drawdown of -71.23%. Use the drawdown chart below to compare losses from any high point for ETHX-U.TO and BTCY-U.TO.
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Drawdown Indicators
| ETHX-U.TO | BTCY-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.05% | -71.23% | -7.82% |
Max Drawdown (1Y)Largest decline over 1 year | -68.04% | -55.02% | -13.02% |
Max Drawdown (3Y)Largest decline over 3 years | -68.04% | -55.02% | -13.02% |
Max Drawdown (5Y)Largest decline over 5 years | -79.05% | — | — |
Current DrawdownCurrent decline from peak | -62.77% | -50.04% | -12.73% |
Average DrawdownAverage peak-to-trough decline | -46.40% | -32.85% | -13.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.16% | 33.72% | +10.44% |
Volatility
ETHX-U.TO vs. BTCY-U.TO - Volatility Comparison
CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) has a higher volatility of 14.99% compared to Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units (BTCY-U.TO) at 11.78%. This indicates that ETHX-U.TO's price experiences larger fluctuations and is considered to be riskier than BTCY-U.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-U.TO | BTCY-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.99% | 11.78% | +3.21% |
Volatility (6M)Calculated over the trailing 6-month period | 46.75% | 40.84% | +5.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.05% | 48.55% | +18.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.86% | 51.32% | +19.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.71% | 51.32% | +22.39% |
Dividends
ETHX-U.TO vs. BTCY-U.TO - Dividend Comparison
ETHX-U.TO has not paid dividends to shareholders, while BTCY-U.TO's dividend yield for the trailing twelve months is around 22.80%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BTCY-U.TO Purpose Bitcoin Yield ETF USD Non-Currency Hedged Units | 22.80% | 14.50% | 8.02% | 10.77% | 29.84% | 1.21% |
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHX-U.TO and BTCY-U.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: CI and Purpose.
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