FBTC.TO vs. ETHY-U.TO
FBTC.TO (Fidelity Advantage Bitcoin ETF) and ETHY-U.TO (Purpose Ether Yield ETF USD Non-Currency Hedged Units) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, FBTC.TO returned 31.17%/yr vs -11.22%/yr for ETHY-U.TO. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
FBTC.TO vs. ETHY-U.TO - Performance Comparison
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Different Trading Currencies
FBTC.TO is traded in CAD, while ETHY-U.TO is traded in USD. To make them comparable, the ETHY-U.TO values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FBTC.TO achieves a -25.28% return, which is significantly higher than ETHY-U.TO's -39.51% return.
FBTC.TO
- 1D
- -0.37%
- 1M
- -0.74%
- 6M
- -32.43%
- YTD
- -25.28%
- 1Y
- -45.25%
- 3Y*
- 31.17%
- 5Y*
- —
- 10Y*
- —
ETHY-U.TO
- 1D
- -0.10%
- 1M
- 8.82%
- 6M
- -45.78%
- YTD
- -39.51%
- 1Y
- -46.72%
- 3Y*
- -11.22%
- 5Y*
- —
- 10Y*
- —
FBTC.TO vs. ETHY-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -25.28% | -10.85% | 137.16% | 145.80% | -61.34% | -7.90% |
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units | -39.51% | -18.68% | 26.49% | 48.65% | -70.76% | -10.04% |
Correlation
The correlation between FBTC.TO and ETHY-U.TO is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2021 | 0.54 |
The correlation between FBTC.TO and ETHY-U.TO shifts across timeframes, from 0.50 (3 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FBTC.TO vs. ETHY-U.TO — Risk / Return Rank
FBTC.TO
ETHY-U.TO
FBTC.TO vs. ETHY-U.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) and Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.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 | ETHY-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.93 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.66 | -0.20 |
| Martin ratioReturn relative to average drawdown | -1.33 | -1.05 | -0.28 |
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Drawdowns
FBTC.TO vs. ETHY-U.TO - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, smaller than the maximum ETHY-U.TO drawdown of -81.32%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and ETHY-U.TO.
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Drawdown Indicators
| FBTC.TO | ETHY-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -81.32% | +10.55% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -70.17% | +17.46% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | -70.17% | +17.46% |
Current DrawdownCurrent decline from peak | -48.98% | -76.13% | +27.15% |
Average DrawdownAverage peak-to-trough decline | -31.41% | -60.32% | +28.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.99% | 44.25% | -10.26% |
Volatility
FBTC.TO vs. ETHY-U.TO - Volatility Comparison
The current volatility for Fidelity Advantage Bitcoin ETF (FBTC.TO) is 10.11%, while Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.TO) has a volatility of 30.91%. This indicates that FBTC.TO experiences smaller price fluctuations and is considered to be less risky than ETHY-U.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 | ETHY-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.11% | 30.91% | -20.80% |
Volatility (6M)Calculated over the trailing 6-month period | 33.46% | 62.05% | -28.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.60% | 78.09% | -34.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.06% | 68.74% | -16.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.06% | 68.74% | -16.68% |
Dividends
FBTC.TO vs. ETHY-U.TO - Dividend Comparison
FBTC.TO has not paid dividends to shareholders, while ETHY-U.TO's dividend yield for the trailing twelve months is around 40.75%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units | 40.75% | 18.89% | 3.10% |
FBTC.TO Fidelity Advantage Bitcoin ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FBTC.TO and ETHY-U.TO have a correlation of 0.67, 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 Purpose.
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