SOLA.TO vs. ETHY-U.TO

Last updated Jul 16, 2026

SOLA.TO (Evolve Solana 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 year, SOLA.TO returned -52.10% vs -42.01% for ETHY-U.TO. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

SOLA.TO vs. ETHY-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Solana ETF (SOLA.TO) and Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SOLA.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

The year-to-date returns for both stocks are quite close, with SOLA.TO having a -37.77% return and ETHY-U.TO slightly lower at -39.45%.

SOLA.TO

• 1D: 0.00%
• 1M: 1.60%
• 6M: -48.18%
• YTD: -37.77%
• 1Y: -52.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHY-U.TO

• 1D: 0.81%
• 1M: 5.90%
• 6M: -46.61%
• YTD: -39.45%
• 1Y: -42.01%
• 3Y*: -11.14%
• 5Y*: —
• 10Y*: —

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

SOLA.TO vs. ETHY-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025
SOLA.TO Evolve Solana ETF	-37.77%	-5.66%
ETHY-U.TO Purpose Ether Yield ETF USD Non-Currency Hedged Units	-39.45%	72.47%

Correlation

The correlation between SOLA.TO and ETHY-U.TO is 0.65, 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	0.65
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.56

The correlation between SOLA.TO and ETHY-U.TO has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.

Return for Risk

SOLA.TO vs. ETHY-U.TO — Risk / Return Rank

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

SOLA.TO

SOLA.TO Risk / Return Rank: 4
SOLA.TO Sharpe Ratio Rank: 4
SOLA.TO Sortino Ratio Rank: 4
SOLA.TO Omega Ratio Rank: 4
SOLA.TO Calmar Ratio Rank: 4
SOLA.TO Martin Ratio Rank: 4

ETHY-U.TO

ETHY-U.TO Risk / Return Rank: 5
ETHY-U.TO Sharpe Ratio Rank: 5
ETHY-U.TO Sortino Ratio Rank: 5
ETHY-U.TO Omega Ratio Rank: 5
ETHY-U.TO Calmar Ratio Rank: 4
ETHY-U.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.

SOLA.TO vs. ETHY-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Solana ETF (SOLA.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.

	SOLA.TO	ETHY-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	-0.54	-0.17
Sortino ratio: Return per unit of downside risk	-0.90	-0.45	-0.45
Omega ratio: Gain probability vs. loss probability	0.90	0.95	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.70	-0.60	-0.10
Martin ratio: Return relative to average drawdown	-1.02	-0.95	-0.07

SOLA.TO vs. ETHY-U.TO - Sharpe Ratio Comparison

The current SOLA.TO Sharpe Ratio is -0.71, which is lower than the ETHY-U.TO Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of SOLA.TO and ETHY-U.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.

Drawdowns

SOLA.TO vs. ETHY-U.TO - Drawdown Comparison

The maximum SOLA.TO drawdown since its inception was -74.77%, smaller than the maximum ETHY-U.TO drawdown of -81.32%. Use the drawdown chart below to compare losses from any high point for SOLA.TO and ETHY-U.TO.

Drawdown Indicators

	SOLA.TO	ETHY-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-74.77%	-81.32%	+6.55%
Max Drawdown (1Y) Largest decline over 1 year	-74.77%	-70.17%	-4.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-70.17%	—
Current Drawdown Current decline from peak	-69.27%	-76.11%	+6.84%
Average Drawdown Average peak-to-trough decline	-38.22%	-60.30%	+22.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.04%	44.08%	+6.96%

Volatility

SOLA.TO vs. ETHY-U.TO - Volatility Comparison

The current volatility for Evolve Solana ETF (SOLA.TO) is 20.39%, while Purpose Ether Yield ETF USD Non-Currency Hedged Units (ETHY-U.TO) has a volatility of 31.17%. This indicates that SOLA.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.

Volatility by Period

	SOLA.TO	ETHY-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.39%	31.17%	-10.78%
Volatility (6M) Calculated over the trailing 6-month period	52.36%	62.05%	-9.69%
Volatility (1Y) Calculated over the trailing 1-year period	74.24%	78.12%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.52%	68.77%	+3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.52%	68.77%	+3.75%

Dividends

SOLA.TO vs. ETHY-U.TO - Dividend Comparison

SOLA.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%
SOLA.TO Evolve Solana ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOLA.TO and ETHY-U.TO in my portfolio?

SOLA.TO and ETHY-U.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between SOLA.TO and ETHY-U.TO?

They also come from different issuers: Evolve and Purpose.