ETHX.TO vs. ETHR.TO

Last updated Apr 1, 2026

Compare and contrast key facts about CI Galaxy Ethereum ETF CAD Hedged Series (ETHX.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.TO).

ETHX.TO and ETHR.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ETHX.TO is an actively managed fund by CI Global Asset Management. It was launched on Aug 22, 2025. ETHR.TO is a passively managed fund by Evolve that tracks the performance of the CME CF Ether-Dollar Reference Rate. It was launched on Apr 19, 2021.

Performance

ETHX.TO vs. ETHR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Galaxy Ethereum ETF CAD Hedged Series (ETHX.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.TO). The values are adjusted to include any dividend payments, if applicable.

ETHX.TO vs. ETHR.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ETHX.TO CI Galaxy Ethereum ETF CAD Hedged Series	-29.89%	-36.30%
ETHR.TO Evolve Ether ETF CAD Unhedged Units	-28.50%	-35.73%

Returns By Period

The year-to-date returns for both investments are quite close, with ETHX.TO having a -29.89% return and ETHR.TO slightly higher at -28.50%.

ETHX.TO

• 1D: 3.89%
• 1M: 8.93%
• YTD: -29.89%
• 6M: -50.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHR.TO

• 1D: 3.98%
• 1M: 11.16%
• YTD: -28.50%
• 6M: -50.03%
• 1Y: 9.03%
• 3Y*: 3.59%
• 5Y*: —
• 10Y*: —

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

ETHX.TO vs. ETHR.TO - Expense Ratio Comparison

ETHX.TO has a 0.68% expense ratio, which is lower than ETHR.TO's 0.75% expense ratio.

ETHR.TO

Evolve Ether ETF CAD Unhedged Units

ETHX.TO

CI Galaxy Ethereum ETF CAD Hedged Series

Return for Risk

ETHX.TO vs. ETHR.TO — Risk / Return Rank

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

ETHR.TO

ETHR.TO Risk / Return Rank: 17
ETHR.TO Sharpe Ratio Rank: 14
ETHR.TO Sortino Ratio Rank: 24
ETHR.TO Omega Ratio Rank: 21
ETHR.TO Calmar Ratio Rank: 14
ETHR.TO Martin Ratio Rank: 13

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.TO vs. ETHR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Galaxy Ethereum ETF CAD Hedged Series (ETHX.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ETHX.TO	ETHR.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.99	-0.03	-0.96

Correlation

The correlation between ETHX.TO and ETHR.TO is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ETHX.TO vs. ETHR.TO - Dividend Comparison

Neither ETHX.TO nor ETHR.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ETHX.TO vs. ETHR.TO - Drawdown Comparison

The maximum ETHX.TO drawdown since its inception was -61.24%, smaller than the maximum ETHR.TO drawdown of -78.36%. Use the drawdown chart below to compare losses from any high point for ETHX.TO and ETHR.TO.

Drawdown Indicators

	ETHX.TO	ETHR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-61.24%	-78.36%	+17.12%
Max Drawdown (1Y) Largest decline over 1 year	—	-62.29%	—
Current Drawdown Current decline from peak	-55.98%	-56.68%	+0.70%
Average Drawdown Average peak-to-trough decline	-33.13%	-43.06%	+9.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.72%	—

Volatility

Volatility by Period

	ETHX.TO	ETHR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	52.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	75.71%	74.21%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.71%	72.62%	+3.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.71%	72.62%	+3.09%