ETHY-U.TO vs. ETHX-B.TO

Last updated Jul 16, 2026

ETHY-U.TO (Purpose Ether Yield ETF USD Non-Currency Hedged Units) and ETHX-B.TO (CI Galaxy Ethereum ETF) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, ETHY-U.TO returned -13.16%/yr vs -0.84%/yr for ETHX-B.TO. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

ETHY-U.TO vs. ETHX-B.TO - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ETHY-U.TO achieves a -40.99% return, which is significantly lower than ETHX-B.TO's -35.54% return.

ETHY-U.TO

• 1D: 1.52%
• 1M: 5.23%
• 6M: -47.24%
• YTD: -40.99%
• 1Y: -43.44%
• 3Y*: -13.16%
• 5Y*: —
• 10Y*: —

ETHX-B.TO

• 1D: 2.96%
• 1M: 5.43%
• 6M: -43.27%
• YTD: -35.54%
• 1Y: -37.23%
• 3Y*: -0.84%
• 5Y*: -0.74%
• 10Y*: —

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

ETHY-U.TO vs. ETHX-B.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units	-40.99%	-14.79%	16.62%	52.27%	-72.50%	-8.78%
ETHX-B.TO CI Galaxy Ethereum ETF	-35.54%	-11.85%	43.63%	94.65%	-67.73%	-9.89%

Correlation

The correlation between ETHY-U.TO and ETHX-B.TO is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 22, 2021	0.65

The correlation between ETHY-U.TO and ETHX-B.TO shifts across timeframes, from 0.61 (3 years) to 0.75 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ETHY-U.TO vs. ETHX-B.TO — Risk / Return Rank

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

ETHY-U.TO

ETHY-U.TO Risk / Return Rank: 5
ETHY-U.TO Sharpe Ratio Rank: 5
ETHY-U.TO Sortino Ratio Rank: 5
ETHY-U.TO Omega Ratio Rank: 5
ETHY-U.TO Calmar Ratio Rank: 4
ETHY-U.TO Martin Ratio Rank: 5

ETHX-B.TO

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

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.

ETHY-U.TO vs. ETHX-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.TO) and CI Galaxy Ethereum ETF (ETHX-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.

	ETHY-U.TO	ETHX-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	-0.56	0.00
Sortino ratio: Return per unit of downside risk	-0.49	-0.52	+0.03
Omega ratio: Gain probability vs. loss probability	0.94	0.94	0.00
Calmar ratio: Return relative to maximum drawdown	-0.61	-0.55	-0.06
Martin ratio: Return relative to average drawdown	-0.99	-0.86	-0.13

ETHY-U.TO vs. ETHX-B.TO - Sharpe Ratio Comparison

The current ETHY-U.TO Sharpe Ratio is -0.56, which is comparable to the ETHX-B.TO Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of ETHY-U.TO and ETHX-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.

Drawdowns

ETHY-U.TO vs. ETHX-B.TO - Drawdown Comparison

The maximum ETHY-U.TO drawdown since its inception was -83.18%, which is greater than ETHX-B.TO's maximum drawdown of -79.05%. Use the drawdown chart below to compare losses from any high point for ETHY-U.TO and ETHX-B.TO.

Drawdown Indicators

	ETHY-U.TO	ETHX-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-83.18%	-79.05%	-4.13%
Max Drawdown (1Y) Largest decline over 1 year	-70.87%	-67.75%	-3.12%
Max Drawdown (3Y) Largest decline over 3 years	-70.87%	-67.75%	-3.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-79.05%	—
Current Drawdown Current decline from peak	-78.20%	-61.29%	-16.91%
Average Drawdown Average peak-to-trough decline	-62.32%	-46.38%	-15.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.89%	43.40%	+0.49%

Volatility

ETHY-U.TO vs. ETHX-B.TO - Volatility Comparison

Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.TO) has a higher volatility of 31.45% compared to CI Galaxy Ethereum ETF (ETHX-B.TO) at 14.20%. This indicates that ETHY-U.TO's price experiences larger fluctuations and is considered to be riskier than ETHX-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHY-U.TO	ETHX-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.45%	14.20%	+17.25%
Volatility (6M) Calculated over the trailing 6-month period	62.45%	45.89%	+16.56%
Volatility (1Y) Calculated over the trailing 1-year period	78.10%	66.61%	+11.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.89%	69.06%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.89%	71.96%	-3.07%

Dividends

ETHY-U.TO vs. ETHX-B.TO - Dividend Comparison

ETHY-U.TO's dividend yield for the trailing twelve months is around 40.75%, while ETHX-B.TO has not paid dividends to shareholders.

Position	TTM	2025	2024
ETHX-B.TO CI Galaxy Ethereum ETF	0.00%	0.00%	0.00%
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units	40.75%	18.89%	3.10%

Frequently Asked Questions

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

ETHY-U.TO and ETHX-B.TO have a correlation of 0.75, 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 ETHY-U.TO and ETHX-B.TO?

They also come from different issuers: Purpose and CI.