PAYF.TO vs. BTCY.TO
PAYF.TO (Purpose Enhanced Premium Yield Fund) and BTCY.TO (Purpose Bitcoin Yield ETF) are both exchange-traded funds - PAYF.TO is a Derivative Income fund actively managed by Purpose Investments Inc., while BTCY.TO is a Cryptocurrency fund actively managed by Purpose Investments Inc.. Both are actively managed. Over the past 3 years, PAYF.TO returned 9.76%/yr vs 21.20%/yr for BTCY.TO. At a 0.24 correlation, their price movements are largely independent.
Performance
PAYF.TO vs. BTCY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PAYF.TO achieves a 3.05% return, which is significantly higher than BTCY.TO's -31.07% return.
PAYF.TO
- 1D
- 0.27%
- 1M
- 1.03%
- 6M
- 3.10%
- YTD
- 3.05%
- 1Y
- 4.97%
- 3Y*
- 9.76%
- 5Y*
- 7.55%
- 10Y*
- —
- ALL TIME*
- 7.21%
BTCY.TO
- 1D
- -1.18%
- 1M
- 9.26%
- 6M
- -32.96%
- YTD
- -31.07%
- 1Y
- -49.71%
- 3Y*
- 21.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTCY.TO Purpose Bitcoin Yield ETF | CA$118.91K | CA$151.16K | CA$233.20K |
| CA$14.58K | CA$14.42K | CA$25.69K |
PAYF.TO vs. BTCY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PAYF.TO Purpose Enhanced Premium Yield Fund | 3.05% | 9.96% | 11.58% | 13.46% | -3.26% | 2.63% |
BTCY.TO Purpose Bitcoin Yield ETF | -31.07% | -9.07% | 112.59% | 111.84% | -64.51% | -18.42% |
Correlation
The correlation between PAYF.TO and BTCY.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2021 | 0.24 |
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Return for Risk
PAYF.TO vs. BTCY.TO — Risk / Return Rank
PAYF.TO
BTCY.TO
PAYF.TO vs. BTCY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Enhanced Premium Yield Fund (PAYF.TO) and Purpose Bitcoin Yield ETF (BTCY.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.
| PAYF.TO | BTCY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.72 | ||
| Sortino ratioReturn per unit of downside risk | +2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.83 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | -0.88 | +1.75 |
| Martin ratioReturn relative to average drawdown | 3.13 | -1.43 | +4.56 |
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Drawdowns
PAYF.TO vs. BTCY.TO - Drawdown Comparison
The maximum PAYF.TO drawdown since its inception was -17.09%, smaller than the maximum BTCY.TO drawdown of -71.53%. Use the drawdown chart below to compare losses from any high point for PAYF.TO and BTCY.TO.
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Drawdown Indicators
| PAYF.TO | BTCY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -71.53% | +54.44% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -56.40% | +50.67% |
Max Drawdown (3Y)Largest decline over 3 years | -11.66% | -56.40% | +44.74% |
Max Drawdown (5Y)Largest decline over 5 years | -11.66% | — | — |
Current DrawdownCurrent decline from peak | -0.91% | -51.17% | +50.26% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -33.65% | +31.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 34.80% | -33.21% |
Volatility
PAYF.TO vs. BTCY.TO - Volatility Comparison
The current volatility for Purpose Enhanced Premium Yield Fund (PAYF.TO) is 2.31%, while Purpose Bitcoin Yield ETF (BTCY.TO) has a volatility of 11.96%. This indicates that PAYF.TO experiences smaller price fluctuations and is considered to be less risky than BTCY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAYF.TO | BTCY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 11.96% | -9.65% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 41.53% | -35.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.02% | 49.42% | -42.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.66% | 50.84% | -41.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.51% | 50.84% | -41.33% |
Dividends
PAYF.TO vs. BTCY.TO - Dividend Comparison
PAYF.TO's dividend yield for the trailing twelve months is around 8.88%, less than BTCY.TO's 24.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BTCY.TO Purpose Bitcoin Yield ETF | 24.29% | 15.11% | 16.69% | 9.20% | 24.17% | 1.23% | 0.00% | 0.00% |
PAYF.TO Purpose Enhanced Premium Yield Fund | 8.88% | 8.75% | 8.82% | 8.91% | 8.02% | 7.17% | 7.27% | 4.05% |
Frequently Asked Questions
PAYF.TO and BTCY.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAYF.TO is categorized as Derivative Income, while BTCY.TO is Cryptocurrency.
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