OILY.TO vs. ETHR.TO

Last updated Jun 4, 2026

OILY.TO (Evolve Canadian Energy Enhanced Yield Index Fund ETF) and ETHR.TO (Evolve Ether ETF CAD Unhedged Units) are both exchange-traded funds - OILY.TO is a Energy Equities fund tracking the Solactive Canada Energy Top 10 Index, while ETHR.TO is a Cryptocurrency fund tracking the CME CF Ether-Dollar Reference Rate. Both are passively managed. Over the past year, OILY.TO returned 50.69% vs -31.87% for ETHR.TO. At a 0.02 correlation, their price movements are largely independent. OILY.TO charges 0.60%/yr vs 0.75%/yr for ETHR.TO.

Performance

OILY.TO vs. ETHR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OILY.TO achieves a 35.40% return, which is significantly higher than ETHR.TO's -39.08% return.

OILY.TO

• 1D: 1.11%
• 1M: 1.56%
• YTD: 35.40%
• 6M: 30.26%
• 1Y: 50.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHR.TO

• 1D: -5.13%
• 1M: -21.92%
• YTD: -39.08%
• 6M: -43.48%
• 1Y: -31.87%
• 3Y*: -2.76%
• 5Y*: -6.98%
• 10Y*: —

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

OILY.TO vs. ETHR.TO - Yearly Performance Comparison

	2026 (YTD)	2025
OILY.TO Evolve Canadian Energy Enhanced Yield Index Fund ETF	35.40%	3.96%
ETHR.TO Evolve Ether ETF CAD Unhedged Units	-39.08%	39.71%

Correlation

The correlation between OILY.TO and ETHR.TO is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025	0.02

Return for Risk

OILY.TO vs. ETHR.TO — Risk / Return Rank

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

OILY.TO

OILY.TO Risk / Return Rank: 77
OILY.TO Sharpe Ratio Rank: 80
OILY.TO Sortino Ratio Rank: 72
OILY.TO Omega Ratio Rank: 72
OILY.TO Calmar Ratio Rank: 84
OILY.TO Martin Ratio Rank: 74

ETHR.TO

ETHR.TO Risk / Return Rank: 5
ETHR.TO Sharpe Ratio Rank: 5
ETHR.TO Sortino Ratio Rank: 6
ETHR.TO Omega Ratio Rank: 5
ETHR.TO Calmar Ratio Rank: 5
ETHR.TO Martin Ratio Rank: 5

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.

OILY.TO vs. ETHR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO) and Evolve Ether ETF CAD Unhedged Units (ETHR.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.

	OILY.TO	ETHR.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.64	-0.48	+3.12
Sortino ratio: Return per unit of downside risk	3.29	-0.36	+3.65
Omega ratio: Gain probability vs. loss probability	1.43	0.96	+0.47
Calmar ratio: Return relative to maximum drawdown	4.57	-0.51	+5.08
Martin ratio: Return relative to average drawdown	14.01	-0.84	+14.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILY.TO vs. ETHR.TO - Sharpe Ratio Comparison

The current OILY.TO Sharpe Ratio is 2.64, which is higher than the ETHR.TO Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of OILY.TO and ETHR.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

	OILY.TO	ETHR.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	-0.48	+3.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	-0.07	+1.42

Drawdowns

OILY.TO vs. ETHR.TO - Drawdown Comparison

The maximum OILY.TO drawdown since its inception was -22.70%, smaller than the maximum ETHR.TO drawdown of -78.36%. Use the drawdown chart below to compare losses from any high point for OILY.TO and ETHR.TO.

Drawdown Indicators

	OILY.TO	ETHR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-22.70%	-78.36%	+55.66%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-63.09%	+51.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-64.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-78.36%	—
Current Drawdown Current decline from peak	-3.20%	-63.09%	+59.89%
Average Drawdown Average peak-to-trough decline	-4.49%	-43.47%	+38.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	38.10%	-34.47%

Volatility

OILY.TO vs. ETHR.TO - Volatility Comparison

The current volatility for Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO) is 7.95%, while Evolve Ether ETF CAD Unhedged Units (ETHR.TO) has a volatility of 10.53%. This indicates that OILY.TO experiences smaller price fluctuations and is considered to be less risky than ETHR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILY.TO	ETHR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.95%	10.53%	-2.58%
Volatility (6M) Calculated over the trailing 6-month period	16.44%	45.53%	-29.09%
Volatility (1Y) Calculated over the trailing 1-year period	19.34%	66.37%	-47.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.01%	69.38%	-44.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.01%	71.76%	-46.75%

OILY.TO vs. ETHR.TO - Expense Ratio Comparison

OILY.TO has a 0.60% expense ratio, which is lower than ETHR.TO's 0.75% expense ratio.

Dividends

OILY.TO vs. ETHR.TO - Dividend Comparison

OILY.TO's dividend yield for the trailing twelve months is around 12.68%, while ETHR.TO has not paid dividends to shareholders.

Position	TTM	2025
ETHR.TO Evolve Ether ETF CAD Unhedged Units	0.00%	0.00%
OILY.TO Evolve Canadian Energy Enhanced Yield Index Fund ETF	12.68%	11.50%

Frequently Asked Questions

Can I hold both OILY.TO and ETHR.TO in my portfolio?

OILY.TO and ETHR.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OILY.TO or ETHR.TO?

On fees, OILY.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OILY.TO or ETHR.TO?

OILY.TO is cheaper with a 0.60% expense ratio, compared with 0.75% for ETHR.TO.

What is the main difference between OILY.TO and ETHR.TO?

OILY.TO is categorized as Energy Equities, while ETHR.TO is Cryptocurrency. OILY.TO tracks Solactive Canada Energy Top 10 Index, while ETHR.TO tracks CME CF Ether-Dollar Reference Rate. Their fees differ too: 0.60% for OILY.TO and 0.75% for ETHR.TO.