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ETHX-U.TO vs. EHE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ETHX-U.TO vs. EHE.TO

Last updated Jul 1, 2026
See Documentation

ETHX-U.TO (CI Galaxy Ethereum ETF (US$ Series)) and EHE.TO (CI Europe Hedged Equity Index ETF) are both exchange-traded funds - ETHX-U.TO is a Cryptocurrency fund actively managed by CI, while EHE.TO is a Europe Equities fund tracking the WisdomTree Europe CAD-Hedged Equity Index. ETHX-U.TO is actively managed, while EHE.TO is passively managed. Over the past 5 years, ETHX-U.TO returned -7.54%/yr vs 6.94%/yr for EHE.TO. At a 0.02 correlation, their price movements are largely independent.

Performance

ETHX-U.TO vs. EHE.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 CI Europe Hedged Equity Index ETF (EHE.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ETHX-U.TO is traded in USD, while EHE.TO is traded in CAD. To make them comparable, the EHE.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ETHX-U.TO achieves a -46.97% return, which is significantly lower than EHE.TO's 3.59% 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*
—

EHE.TO

1D
0.83%
1M
-1.46%
YTD
3.59%
6M
4.08%
1Y
13.49%
3Y*
11.05%
5Y*
6.94%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
ETHX-U.TO
CI Galaxy Ethereum ETF (US$ Series)		-46.97%-11.53%43.46%93.31%-67.94%63.87%
EHE.TO
CI Europe Hedged Equity Index ETF		3.59%28.79%-3.94%25.24%-15.79%9.21%

Correlation

The correlation between ETHX-U.TO and EHE.TO is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.08

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

-0.00

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

0.02

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

0.02

The correlation between ETHX-U.TO and EHE.TO shifts across timeframes, from -0.08 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.

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CI Galaxy Ethereum ETF (US$ Series)

CI Europe Hedged Equity Index ETF

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Return for Risk

ETHX-U.TO vs. EHE.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: 55
Overall Rank
ETHX-U.TO Sharpe Ratio Rank: 55
Sharpe Ratio Rank
ETHX-U.TO Sortino Ratio Rank: 66
Sortino Ratio Rank
ETHX-U.TO Omega Ratio Rank: 66
Omega Ratio Rank
ETHX-U.TO Calmar Ratio Rank: 55
Calmar Ratio Rank
ETHX-U.TO Martin Ratio Rank: 66
Martin Ratio Rank
EHE.TO
EHE.TO Risk / Return Rank: 4040
Overall Rank
EHE.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
EHE.TO Sortino Ratio Rank: 4040
Sortino Ratio Rank
EHE.TO Omega Ratio Rank: 4040
Omega Ratio Rank
EHE.TO Calmar Ratio Rank: 3838
Calmar Ratio Rank
EHE.TO Martin Ratio Rank: 4444
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-U.TO vs. EHE.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 CI Europe Hedged Equity Index ETF (EHE.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.TOEHE.TODifference
Sharpe ratioReturn per unit of total volatility
-0.56
0.92

-1.47

Sortino ratioReturn per unit of downside risk
-0.51
1.39

-1.90

Omega ratioGain probability vs. loss probability

0.94

1.17

-0.23

Calmar ratioReturn relative to maximum drawdown

-0.55

1.27

-1.82

Martin ratioReturn relative to average drawdown

-0.90

4.60

-5.50

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

The current ETHX-U.TO Sharpe Ratio is -0.56, which is lower than the EHE.TO Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of ETHX-U.TO and EHE.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-U.TO vs. EHE.TO - Drawdown Comparison

The maximum ETHX-U.TO drawdown since its inception was -79.05%, which is greater than EHE.TO's maximum drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for ETHX-U.TO and EHE.TO.

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Drawdown Indicators

ETHX-U.TOEHE.TODifference

Max Drawdown

Largest peak-to-trough decline

-79.05%

-43.55%

-35.50%

Max Drawdown (1Y)

Largest decline over 1 year

-68.04%

-12.42%

-55.62%

Max Drawdown (3Y)

Largest decline over 3 years

-68.04%

-16.58%

-51.46%

Max Drawdown (5Y)

Largest decline over 5 years

-79.05%

-28.68%

-50.37%

Current Drawdown

Current decline from peak

-68.18%

-2.94%

-65.24%

Average Drawdown

Average peak-to-trough decline

-46.24%

-6.99%

-39.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

41.96%

3.41%

+38.55%

Volatility

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

CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) has a higher volatility of 20.94% compared to CI Europe Hedged Equity Index ETF (EHE.TO) at 5.23%. This indicates that ETHX-U.TO's price experiences larger fluctuations and is considered to be riskier than EHE.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.TOEHE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

20.94%

5.23%

+15.71%

Volatility (6M)

Calculated over the trailing 6-month period

46.21%

14.09%

+32.12%

Volatility (1Y)

Calculated over the trailing 1-year period

67.86%

17.16%

+50.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

71.03%

20.45%

+50.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

73.85%

19.72%

+54.13%

Dividends

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

ETHX-U.TO has not paid dividends to shareholders, while EHE.TO's dividend yield for the trailing twelve months is around 2.16%.

PositionTTM2025202420232022202120202019201820172016
EHE.TO
CI Europe Hedged Equity Index ETF		2.16%2.16%4.38%3.30%2.19%1.90%2.55%2.02%2.08%1.37%0.13%
ETHX-U.TO
CI Galaxy Ethereum ETF (US$ Series)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ETHX-U.TO and EHE.TO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ETHX-U.TO is categorized as Cryptocurrency, while EHE.TO is Europe Equities.

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