FSF.TO vs. BTCX-B.TO
FSF.TO (CI Global Financial Sector ETF) and BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) are both exchange-traded funds - FSF.TO is a Financials Equities fund actively managed by CI, while BTCX-B.TO is a Cryptocurrency fund tracking the No Index (Physical Bitcoin). FSF.TO is actively managed, while BTCX-B.TO is passively managed. Over the past 5 years, FSF.TO returned 12.59%/yr vs 11.20%/yr for BTCX-B.TO. Their 0.13 correlation means their historical movements had little consistent relationship. FSF.TO charges 0.99%/yr vs 0.80%/yr for BTCX-B.TO.
Performance
FSF.TO vs. BTCX-B.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FSF.TO achieves a 8.03% return, which is significantly higher than BTCX-B.TO's -26.95% return.
FSF.TO
- 1D
- 1.62%
- 1M
- 2.45%
- 6M
- 6.56%
- YTD
- 8.03%
- 1Y
- 19.56%
- 3Y*
- 22.87%
- 5Y*
- 12.59%
- 10Y*
- 30.36%
- ALL TIME*
- 14.13%
BTCX-B.TO
- 1D
- -2.81%
- 1M
- -0.23%
- 6M
- -17.61%
- YTD
- -26.95%
- 1Y
- -44.02%
- 3Y*
- 30.49%
- 5Y*
- 11.20%
- 10Y*
- —
- ALL TIME*
- 3.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$935.28K | CA$1.05M | CA$1.72M | |
| CA$661.89 | CA$2.69K | CA$6.54K |
FSF.TO vs. BTCX-B.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSF.TO CI Global Financial Sector ETF | 8.03% | 20.68% | 33.83% | 10.49% | -11.77% | 12.54% |
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | -26.95% | -11.32% | 139.01% | 149.40% | -62.06% | -18.60% |
Correlation
The correlation between FSF.TO and BTCX-B.TO is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.13 |
The correlation between FSF.TO and BTCX-B.TO shifts across timeframes, from -0.01 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FSF.TO vs. BTCX-B.TO — Risk / Return Rank
FSF.TO
BTCX-B.TO
FSF.TO vs. BTCX-B.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Global Financial Sector ETF (FSF.TO) and CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-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.
| FSF.TO | BTCX-B.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.10 | ||
| Sortino ratioReturn per unit of downside risk | +3.17 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.83 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | -0.87 | +1.99 |
| Martin ratioReturn relative to average drawdown | 3.27 | -1.31 | +4.58 |
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Drawdowns
FSF.TO vs. BTCX-B.TO - Drawdown Comparison
The maximum FSF.TO drawdown since its inception was -73.78%, roughly equal to the maximum BTCX-B.TO drawdown of -75.26%. Use the drawdown chart below to compare losses from any high point for FSF.TO and BTCX-B.TO.
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Drawdown Indicators
| FSF.TO | BTCX-B.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.78% | -75.26% | +1.48% |
Max Drawdown (1Y)Largest decline over 1 year | -15.09% | -52.71% | +37.62% |
Max Drawdown (3Y)Largest decline over 3 years | -17.26% | -52.71% | +35.45% |
Max Drawdown (5Y)Largest decline over 5 years | -26.08% | -75.26% | +49.18% |
Max Drawdown (10Y)Largest decline over 10 years | -73.78% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -49.98% | +49.72% |
Average DrawdownAverage peak-to-trough decline | -16.16% | -33.43% | +17.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.12% | 35.25% | -30.13% |
Volatility
FSF.TO vs. BTCX-B.TO - Volatility Comparison
The current volatility for CI Global Financial Sector ETF (FSF.TO) is 5.02%, while CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a volatility of 8.27%. This indicates that FSF.TO experiences smaller price fluctuations and is considered to be less risky than BTCX-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
| FSF.TO | BTCX-B.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 8.27% | -3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 13.20% | 33.34% | -20.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.98% | 43.84% | -27.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.34% | 52.26% | -32.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 211.89% | 54.52% | +157.37% |
FSF.TO vs. BTCX-B.TO - Expense Ratio Comparison
FSF.TO has a 0.99% expense ratio, which is higher than BTCX-B.TO's 0.80% expense ratio.
Dividends
FSF.TO vs. BTCX-B.TO - Dividend Comparison
FSF.TO's dividend yield for the trailing twelve months is around 1.35%, while BTCX-B.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FSF.TO CI Global Financial Sector ETF | 1.35% | 1.28% | 1.41% | 2.10% | 2.35% | 0.74% | 1.28% | 1.91% | 2.30% | 0.96% | 0.79% |
Frequently Asked Questions
FSF.TO and BTCX-B.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTCX-B.TO is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTCX-B.TO is cheaper with a 0.80% expense ratio, compared with 0.99% for FSF.TO.
FSF.TO is categorized as Financials Equities, while BTCX-B.TO is Cryptocurrency. Their fees differ too: 0.99% for FSF.TO and 0.80% for BTCX-B.TO.
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