ETHY.TO vs. ETHX-B.TO
ETHY.TO (Purpose Ether Yield ETF - ETF Units) and ETHX-B.TO (CI Galaxy Ethereum ETF) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, ETHY.TO returned -8.05%/yr vs 0.72%/yr for ETHX-B.TO. With a 0.95 correlation, they move nearly in lockstep.
Performance
ETHY.TO vs. ETHX-B.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ETHY.TO achieves a -44.43% return, which is significantly lower than ETHX-B.TO's -35.31% return.
ETHY.TO
- 1D
- 5.04%
- 1M
- 15.84%
- 6M
- -48.08%
- YTD
- -44.43%
- 1Y
- -44.79%
- 3Y*
- -8.05%
- 5Y*
- —
- 10Y*
- —
ETHX-B.TO
- 1D
- 5.17%
- 1M
- 13.18%
- 6M
- -40.72%
- YTD
- -35.31%
- 1Y
- -36.02%
- 3Y*
- 0.72%
- 5Y*
- 0.92%
- 10Y*
- —
ETHY.TO vs. ETHX-B.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETHY.TO Purpose Ether Yield ETF - ETF Units | -44.43% | -16.24% | 40.99% | 70.87% | -67.53% | -19.45% |
ETHX-B.TO CI Galaxy Ethereum ETF | -35.31% | -15.87% | 55.80% | 90.02% | -65.68% | -21.33% |
Correlation
The correlation between ETHY.TO and ETHX-B.TO is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.95 |
The correlation between ETHY.TO and ETHX-B.TO has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
ETHY.TO vs. ETHX-B.TO — Risk / Return Rank
ETHY.TO
ETHX-B.TO
ETHY.TO vs. ETHX-B.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Ether Yield ETF - ETF Units (ETHY.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.TO | ETHX-B.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.95 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | -0.54 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.02 | -0.83 | -0.18 |
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Drawdowns
ETHY.TO vs. ETHX-B.TO - Drawdown Comparison
The maximum ETHY.TO drawdown since its inception was -77.54%, roughly equal to the maximum ETHX-B.TO drawdown of -78.38%. Use the drawdown chart below to compare losses from any high point for ETHY.TO and ETHX-B.TO.
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Drawdown Indicators
| ETHY.TO | ETHX-B.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.54% | -78.38% | +0.84% |
Max Drawdown (1Y)Largest decline over 1 year | -71.48% | -67.14% | -4.34% |
Max Drawdown (3Y)Largest decline over 3 years | -71.48% | -67.14% | -4.34% |
Max Drawdown (5Y)Largest decline over 5 years | — | -78.38% | — |
Current DrawdownCurrent decline from peak | -70.67% | -60.67% | -10.00% |
Average DrawdownAverage peak-to-trough decline | -53.38% | -43.15% | -10.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.16% | 43.42% | +0.74% |
Volatility
ETHY.TO vs. ETHX-B.TO - Volatility Comparison
Purpose Ether Yield ETF - ETF Units (ETHY.TO) has a higher volatility of 22.09% compared to CI Galaxy Ethereum ETF (ETHX-B.TO) at 16.01%. This indicates that ETHY.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.
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Volatility by Period
| ETHY.TO | ETHX-B.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.09% | 16.01% | +6.08% |
Volatility (6M)Calculated over the trailing 6-month period | 56.60% | 45.79% | +10.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.70% | 66.58% | +6.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.88% | 68.86% | -2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.88% | 71.77% | -5.89% |
Dividends
ETHY.TO vs. ETHX-B.TO - Dividend Comparison
ETHY.TO's dividend yield for the trailing twelve months is around 44.86%, while ETHX-B.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ETHX-B.TO CI Galaxy Ethereum ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ETHY.TO Purpose Ether Yield ETF - ETF Units | 44.86% | 19.26% | 21.40% | 10.34% | 26.08% | 0.63% |
Frequently Asked Questions
With a correlation of 0.97, ETHY.TO and ETHX-B.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
They also come from different issuers: Purpose Investments and CI.
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