FBTC.TO vs. ETHX-B.TO
FBTC.TO (Fidelity Advantage Bitcoin ETF) and ETHX-B.TO (CI Galaxy Ethereum ETF) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, FBTC.TO returned 30.97%/yr vs 0.72%/yr for ETHX-B.TO. Their correlation of 0.83 suggests significant overlap in exposure.
Performance
FBTC.TO vs. ETHX-B.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC.TO achieves a -24.55% return, which is significantly higher than ETHX-B.TO's -35.31% return.
FBTC.TO
- 1D
- 2.93%
- 1M
- 2.12%
- 6M
- -30.80%
- YTD
- -24.55%
- 1Y
- -44.88%
- 3Y*
- 30.97%
- 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*
- —
FBTC.TO vs. ETHX-B.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -24.55% | -10.85% | 137.16% | 145.80% | -61.34% | -20.46% |
ETHX-B.TO CI Galaxy Ethereum ETF | -35.31% | -15.87% | 55.80% | 90.02% | -65.68% | -21.33% |
Correlation
The correlation between FBTC.TO and ETHX-B.TO is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.83 |
The correlation between FBTC.TO and ETHX-B.TO has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
FBTC.TO vs. ETHX-B.TO — Risk / Return Rank
FBTC.TO
ETHX-B.TO
FBTC.TO vs. ETHX-B.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.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.
| FBTC.TO | ETHX-B.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.95 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -0.54 | -0.32 |
| Martin ratioReturn relative to average drawdown | -1.34 | -0.83 | -0.51 |
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Drawdowns
FBTC.TO vs. ETHX-B.TO - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, smaller than the maximum ETHX-B.TO drawdown of -78.38%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and ETHX-B.TO.
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Drawdown Indicators
| FBTC.TO | ETHX-B.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -78.38% | +7.61% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -67.14% | +14.43% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | -67.14% | +14.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -78.38% | — |
Current DrawdownCurrent decline from peak | -48.48% | -60.67% | +12.19% |
Average DrawdownAverage peak-to-trough decline | -31.37% | -43.15% | +11.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.57% | 43.42% | -9.85% |
Volatility
FBTC.TO vs. ETHX-B.TO - Volatility Comparison
The current volatility for Fidelity Advantage Bitcoin ETF (FBTC.TO) is 11.49%, while CI Galaxy Ethereum ETF (ETHX-B.TO) has a volatility of 16.01%. This indicates that FBTC.TO experiences smaller price fluctuations and is considered to be less risky 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
| FBTC.TO | ETHX-B.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.49% | 16.01% | -4.52% |
Volatility (6M)Calculated over the trailing 6-month period | 33.73% | 45.79% | -12.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.77% | 66.58% | -22.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.12% | 68.86% | -16.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.12% | 71.77% | -19.65% |
Dividends
FBTC.TO vs. ETHX-B.TO - Dividend Comparison
Neither FBTC.TO nor ETHX-B.TO has paid dividends to shareholders.
Frequently Asked Questions
FBTC.TO and ETHX-B.TO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Fidelity and CI.
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