ETHY.TO vs. LBIT.TO

Last updated Jun 4, 2026

ETHY.TO (Purpose Ether Yield ETF - ETF Units) and LBIT.TO (Evolve Levered Bitcoin ETF) are both exchange-traded funds - ETHY.TO is a Cryptocurrency fund actively managed by Purpose Investments, while LBIT.TO is a Leveraged Cryptocurrency fund actively managed by Evolve. Both are actively managed. Over the past year, ETHY.TO returned -39.18% vs -46.69% for LBIT.TO. A 0.69 correlation means they provide meaningful diversification when combined.

Performance

ETHY.TO vs. LBIT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Ether Yield ETF - ETF Units (ETHY.TO) and Evolve Levered Bitcoin ETF (LBIT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHY.TO achieves a -45.70% return, which is significantly lower than LBIT.TO's -30.02% return.

ETHY.TO

• 1D: -6.57%
• 1M: -27.49%
• YTD: -45.70%
• 6M: -48.19%
• 1Y: -39.18%
• 3Y*: -8.68%
• 5Y*: —
• 10Y*: —

LBIT.TO

• 1D: -0.45%
• 1M: -19.20%
• YTD: -30.02%
• 6M: -35.83%
• 1Y: -46.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHY.TO vs. LBIT.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ETHY.TO Purpose Ether Yield ETF - ETF Units	-45.70%	47.65%
LBIT.TO Evolve Levered Bitcoin ETF	-30.02%	-1.29%

Correlation

The correlation between ETHY.TO and LBIT.TO is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Mar 19, 2025	0.69

The correlation between ETHY.TO and LBIT.TO has been stable across timeframes, ranging from 0.69 to 0.71 - a consistent structural relationship.

Return for Risk

ETHY.TO vs. LBIT.TO — Risk / Return Rank

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

ETHY.TO

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

LBIT.TO

LBIT.TO Risk / Return Rank: 2
LBIT.TO Sharpe Ratio Rank: 2
LBIT.TO Sortino Ratio Rank: 2
LBIT.TO Omega Ratio Rank: 2
LBIT.TO Calmar Ratio Rank: 2
LBIT.TO Martin Ratio Rank: 2

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.TO vs. LBIT.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 Evolve Levered Bitcoin ETF (LBIT.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.

	ETHY.TO	LBIT.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	-0.89	+0.32
Sortino ratio: Return per unit of downside risk	-0.53	-1.30	+0.77
Omega ratio: Gain probability vs. loss probability	0.94	0.85	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.60	-0.80	+0.20
Martin ratio: Return relative to average drawdown	-1.03	-1.34	+0.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETHY.TO vs. LBIT.TO - Sharpe Ratio Comparison

The current ETHY.TO Sharpe Ratio is -0.57, which is higher than the LBIT.TO Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of ETHY.TO and LBIT.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.

Sharpe Ratios by Period

	ETHY.TO	LBIT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.57	-0.89	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	-0.36	-0.51	+0.15

Drawdowns

ETHY.TO vs. LBIT.TO - Drawdown Comparison

The maximum ETHY.TO drawdown since its inception was -76.84%, which is greater than LBIT.TO's maximum drawdown of -58.70%. Use the drawdown chart below to compare losses from any high point for ETHY.TO and LBIT.TO.

Drawdown Indicators

	ETHY.TO	LBIT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-76.84%	-58.70%	-18.14%
Max Drawdown (1Y) Largest decline over 1 year	-65.28%	-58.70%	-6.58%
Max Drawdown (3Y) Largest decline over 3 years	-65.28%	—	—
Current Drawdown Current decline from peak	-70.37%	-56.66%	-13.71%
Average Drawdown Average peak-to-trough decline	-51.41%	-24.25%	-27.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.00%	34.90%	+3.10%

Volatility

ETHY.TO vs. LBIT.TO - Volatility Comparison

Purpose Ether Yield ETF - ETF Units (ETHY.TO) has a higher volatility of 12.87% compared to Evolve Levered Bitcoin ETF (LBIT.TO) at 11.88%. This indicates that ETHY.TO's price experiences larger fluctuations and is considered to be riskier than LBIT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHY.TO	LBIT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.87%	11.88%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	51.96%	42.12%	+9.84%
Volatility (1Y) Calculated over the trailing 1-year period	69.09%	52.56%	+16.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.26%	51.49%	+13.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.26%	51.49%	+13.77%

Dividends

ETHY.TO vs. LBIT.TO - Dividend Comparison

ETHY.TO's dividend yield for the trailing twelve months is around 43.13%, while LBIT.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
ETHY.TO Purpose Ether Yield ETF - ETF Units	43.12%	19.33%	21.43%	10.44%	26.10%	2.40%
LBIT.TO Evolve Levered Bitcoin ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETHY.TO and LBIT.TO in my portfolio?

ETHY.TO and LBIT.TO have a correlation of 0.71, 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.TO and LBIT.TO?

ETHY.TO is categorized as Cryptocurrency, while LBIT.TO is Leveraged Cryptocurrency. They also come from different issuers: Purpose Investments and Evolve.