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VMO vs. BTCX-B.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VMO vs. BTCX-B.TO

Last updated Jun 13, 2026

VMO (Invesco Municipal Opportunity Trust) is a stock, while BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) is Cryptocurrency fund managed by CI Global Asset Management. Over the past 5 years, VMO returned -0.67%/yr vs 10.26%/yr for BTCX-B.TO. At a 0.10 correlation, their price movements are largely independent.

Performance

VMO vs. BTCX-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Municipal Opportunity Trust (VMO) and CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VMO is traded in USD, while BTCX-B.TO is traded in CAD. To make them comparable, the BTCX-B.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VMO achieves a 5.19% return, which is significantly higher than BTCX-B.TO's -27.75% return.

VMO

1D
0.00%
1M
0.72%
YTD
5.19%
6M
5.33%
1Y
16.40%
3Y*
8.21%
5Y*
-0.67%
10Y*
1.72%

BTCX-B.TO

1D
0.02%
1M
-20.24%
YTD
-27.75%
6M
-29.77%
1Y
-40.71%
3Y*
34.10%
5Y*
10.26%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
VMO
Invesco Municipal Opportunity Trust		5.19%6.57%7.73%1.54%-24.29%9.38%
BTCX-B.TO
CI Galaxy Bitcoin ETF C$ Unhedged Series Units		-27.68%-7.08%120.35%155.48%-64.32%-19.16%

Correlation

The correlation between VMO and BTCX-B.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.12

Correlation (3Y)
Calculated over the trailing 3-year period

0.05

Correlation (5Y)
Calculated over the trailing 5-year period

0.09

Correlation (All Time)
Calculated using the full available price history since Mar 9, 2021

0.10

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Municipal Opportunity Trust

CI Galaxy Bitcoin ETF C$ Unhedged Series Units

Often compared with VMO:
VMO vs. VFV.TOVMO vs. SPHQVMO vs. VOOVMO vs. IEMGVMO vs. VEAVMO vs. IIMVMO vs. VT
Often compared with BTCX-B.TO:
BTCX-B.TO vs. FBTCBTCX-B.TO vs. BTC-USDBTCX-B.TO vs. IBITBTCX-B.TO vs. GLXY.TOBTCX-B.TO vs. XEQT.TOBTCX-B.TO vs. STRKBTCX-B.TO vs. HXQ.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VMO
VMO Risk / Return Rank: 8585
Overall Rank
VMO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
VMO Sortino Ratio Rank: 8787
Sortino Ratio Rank
VMO Omega Ratio Rank: 8585
Omega Ratio Rank
VMO Calmar Ratio Rank: 8080
Calmar Ratio Rank
VMO Martin Ratio Rank: 8787
Martin Ratio Rank
BTCX-B.TO
BTCX-B.TO Risk / Return Rank: 33
Overall Rank
BTCX-B.TO Sharpe Ratio Rank: 22
Sharpe Ratio Rank
BTCX-B.TO Sortino Ratio Rank: 33
Sortino Ratio Rank
BTCX-B.TO Omega Ratio Rank: 33
Omega Ratio Rank
BTCX-B.TO Calmar Ratio Rank: 33
Calmar Ratio Rank
BTCX-B.TO Martin Ratio Rank: 33
Martin Ratio Rank
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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Opportunity Trust (VMO) 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.

VMOBTCX-B.TODifference
Sharpe ratioReturn per unit of total volatility
1.79
-0.94

+2.74

Sortino ratioReturn per unit of downside risk
2.73
-1.33

+4.06

Omega ratioGain probability vs. loss probability

1.33

0.85

+0.48

Calmar ratioReturn relative to maximum drawdown

2.40

-0.79

+3.19

Martin ratioReturn relative to average drawdown

9.21

-1.37

+10.58

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

The current VMO Sharpe Ratio is 1.79, which is higher than the BTCX-B.TO Sharpe Ratio of -0.94. The chart below compares the historical Sharpe Ratios of VMO 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.

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Drawdowns

VMO vs. BTCX-B.TO - Drawdown Comparison

The maximum VMO drawdown since its inception was -50.11%, smaller than the maximum BTCX-B.TO drawdown of -76.99%. Use the drawdown chart below to compare losses from any high point for VMO and BTCX-B.TO.

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Drawdown Indicators

VMOBTCX-B.TODifference

Max Drawdown

Largest peak-to-trough decline

-50.11%

-76.99%

+26.88%

Max Drawdown (1Y)

Largest decline over 1 year

-6.59%

-52.00%

+45.41%

Max Drawdown (3Y)

Largest decline over 3 years

-16.51%

-52.00%

+35.49%

Max Drawdown (5Y)

Largest decline over 5 years

-37.70%

-76.99%

+39.29%

Max Drawdown (10Y)

Largest decline over 10 years

-37.70%

—

—

Current Drawdown

Current decline from peak

-7.55%

-49.55%

+42.00%

Average Drawdown

Average peak-to-trough decline

-9.87%

-34.21%

+24.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.72%

29.67%

-27.95%

Volatility

VMO vs. BTCX-B.TO - Volatility Comparison

The current volatility for Invesco Municipal Opportunity Trust (VMO) is 3.28%, while CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a volatility of 12.31%. This indicates that VMO 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

VMOBTCX-B.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.28%

12.31%

-9.03%

Volatility (6M)

Calculated over the trailing 6-month period

6.72%

34.02%

-27.30%

Volatility (1Y)

Calculated over the trailing 1-year period

8.83%

43.36%

-34.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.52%

54.27%

-42.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.67%

55.26%

-42.59%

Dividends

VMO vs. BTCX-B.TO - Dividend Comparison

VMO's dividend yield for the trailing twelve months is around 7.69%, while BTCX-B.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
VMO
Invesco Municipal Opportunity Trust		7.69%7.84%6.44%4.47%5.69%4.64%4.66%4.94%5.95%5.98%6.73%6.33%

Frequently Asked Questions

VMO and BTCX-B.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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