VCN.TO vs. BTCX-B.TO

Last updated Jun 13, 2026

VCN.TO (Vanguard FTSE Canada All Cap Index ETF) and BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) are both exchange-traded funds - VCN.TO is a Canada Equities fund tracking the FTSE Canada All Cap Domestic Index, while BTCX-B.TO is a Cryptocurrency fund managed by CI Global Asset Management. Over the past 5 years, VCN.TO returned 14.96%/yr vs 13.52%/yr for BTCX-B.TO. At a 0.28 correlation, their price movements are largely independent. VCN.TO charges 0.06%/yr vs 0.80%/yr for BTCX-B.TO.

Performance

VCN.TO vs. BTCX-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canada All Cap Index ETF (VCN.TO) and CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VCN.TO achieves a 10.85% return, which is significantly higher than BTCX-B.TO's -26.21% return.

VCN.TO

• 1D: 0.72%
• 1M: 2.14%
• YTD: 10.85%
• 6M: 11.65%
• 1Y: 33.96%
• 3Y*: 23.86%
• 5Y*: 14.96%
• 10Y*: 12.80%

BTCX-B.TO

• 1D: 0.31%
• 1M: -20.55%
• YTD: -26.21%
• 6M: -28.69%
• 1Y: -38.22%
• 3Y*: 36.16%
• 5Y*: 13.52%
• 10Y*: —

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

VCN.TO vs. BTCX-B.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VCN.TO Vanguard FTSE Canada All Cap Index ETF	10.85%	31.00%	22.16%	12.29%	-5.76%	17.62%
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	-26.21%	-11.32%	139.01%	149.40%	-62.06%	-18.60%

Correlation

The correlation between VCN.TO and BTCX-B.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021	0.28

Return for Risk

VCN.TO vs. BTCX-B.TO — Risk / Return Rank

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

VCN.TO

VCN.TO Risk / Return Rank: 86
VCN.TO Sharpe Ratio Rank: 89
VCN.TO Sortino Ratio Rank: 86
VCN.TO Omega Ratio Rank: 87
VCN.TO Calmar Ratio Rank: 81
VCN.TO Martin Ratio Rank: 88

BTCX-B.TO

BTCX-B.TO Risk / Return Rank: 3
BTCX-B.TO Sharpe Ratio Rank: 2
BTCX-B.TO Sortino Ratio Rank: 3
BTCX-B.TO Omega Ratio Rank: 3
BTCX-B.TO Calmar Ratio Rank: 3
BTCX-B.TO Martin Ratio Rank: 3

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.

VCN.TO vs. BTCX-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada All Cap Index ETF (VCN.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.

	VCN.TO	BTCX-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.59	-0.91	+3.51
Sortino ratio: Return per unit of downside risk	3.35	-1.28	+4.62
Omega ratio: Gain probability vs. loss probability	1.47	0.86	+0.61
Calmar ratio: Return relative to maximum drawdown	3.68	-0.76	+4.44
Martin ratio: Return relative to average drawdown	16.98	-1.30	+18.28

VCN.TO vs. BTCX-B.TO - Sharpe Ratio Comparison

The current VCN.TO Sharpe Ratio is 2.59, which is higher than the BTCX-B.TO Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of VCN.TO and BTCX-B.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

VCN.TO vs. BTCX-B.TO - Drawdown Comparison

The maximum VCN.TO drawdown since its inception was -37.32%, smaller than the maximum BTCX-B.TO drawdown of -75.26%. Use the drawdown chart below to compare losses from any high point for VCN.TO and BTCX-B.TO.

Drawdown Indicators

	VCN.TO	BTCX-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-37.32%	-75.26%	+37.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-52.20%	+43.09%
Max Drawdown (3Y) Largest decline over 3 years	-12.24%	-52.20%	+39.96%
Max Drawdown (5Y) Largest decline over 5 years	-16.12%	-75.26%	+59.14%
Max Drawdown (10Y) Largest decline over 10 years	-37.32%	—	—
Current Drawdown Current decline from peak	-0.85%	-49.47%	+48.62%
Average Drawdown Average peak-to-trough decline	-3.89%	-33.02%	+29.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	30.26%	-28.29%

Volatility

VCN.TO vs. BTCX-B.TO - Volatility Comparison

The current volatility for Vanguard FTSE Canada All Cap Index ETF (VCN.TO) is 4.44%, while CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a volatility of 12.13%. This indicates that VCN.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.

Volatility by Period

	VCN.TO	BTCX-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	12.13%	-7.69%
Volatility (6M) Calculated over the trailing 6-month period	10.63%	33.85%	-23.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.94%	43.22%	-30.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.10%	53.90%	-40.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.99%	54.95%	-39.96%

VCN.TO vs. BTCX-B.TO - Expense Ratio Comparison

VCN.TO has a 0.06% expense ratio, which is lower than BTCX-B.TO's 0.80% expense ratio.

Dividends

VCN.TO vs. BTCX-B.TO - Dividend Comparison

VCN.TO's dividend yield for the trailing twelve months is around 2.00%, while BTCX-B.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
VCN.TO Vanguard FTSE Canada All Cap Index ETF	2.00%	2.27%	2.71%	3.00%	3.17%	2.49%	2.72%	2.88%	2.83%	2.29%	2.36%	2.68%

Frequently Asked Questions

Can I hold both VCN.TO and BTCX-B.TO in my portfolio?

VCN.TO and BTCX-B.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VCN.TO or BTCX-B.TO?

On fees, VCN.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VCN.TO or BTCX-B.TO?

VCN.TO is cheaper with a 0.06% expense ratio, compared with 0.80% for BTCX-B.TO.

What is the main difference between VCN.TO and BTCX-B.TO?

VCN.TO is categorized as Canada Equities, while BTCX-B.TO is Cryptocurrency. They also come from different issuers: Vanguard and CI Global Asset Management. Their fees differ too: 0.06% for VCN.TO and 0.80% for BTCX-B.TO.