AVGE vs. FBTC

Last updated Jun 14, 2026

AVGE (Avantis All Equity Markets ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - AVGE is a Global Equities fund actively managed by Avantis, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. AVGE is actively managed, while FBTC is passively managed. Over the past year, AVGE returned 33.67% vs -39.70% for FBTC. At a 0.42 correlation, their price movements are largely independent. AVGE charges 0.23%/yr vs 0.25%/yr for FBTC.

Performance

AVGE vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis All Equity Markets ETF (AVGE) and Fidelity Wise Origin Bitcoin Fund (FBTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVGE achieves a 15.90% return, which is significantly higher than FBTC's -27.39% return.

AVGE

• 1D: 0.66%
• 1M: 1.66%
• YTD: 15.90%
• 6M: 16.20%
• 1Y: 33.67%
• 3Y*: 20.72%
• 5Y*: —
• 10Y*: —

FBTC

• 1D: 0.11%
• 1M: -21.92%
• YTD: -27.39%
• 6M: -29.64%
• 1Y: -39.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVGE vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVGE Avantis All Equity Markets ETF	15.90%	20.84%	15.34%
FBTC Fidelity Wise Origin Bitcoin Fund	-27.39%	-6.56%	94.28%

Correlation

The correlation between AVGE and FBTC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.42

Return for Risk

AVGE vs. FBTC — Risk / Return Rank

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

AVGE

AVGE Risk / Return Rank: 85
AVGE Sharpe Ratio Rank: 87
AVGE Sortino Ratio Rank: 87
AVGE Omega Ratio Rank: 85
AVGE Calmar Ratio Rank: 81
AVGE Martin Ratio Rank: 87

FBTC

FBTC Risk / Return Rank: 3
FBTC Sharpe Ratio Rank: 2
FBTC Sortino Ratio Rank: 3
FBTC Omega Ratio Rank: 3
FBTC Calmar Ratio Rank: 3
FBTC Martin Ratio Rank: 2

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.

AVGE vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis All Equity Markets ETF (AVGE) and Fidelity Wise Origin Bitcoin Fund (FBTC). 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.

	AVGE	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	2.48	-0.93	+3.41
Sortino ratio: Return per unit of downside risk	3.40	-1.31	+4.71
Omega ratio: Gain probability vs. loss probability	1.45	0.85	+0.60
Calmar ratio: Return relative to maximum drawdown	3.76	-0.78	+4.54
Martin ratio: Return relative to average drawdown	15.89	-1.37	+17.26

AVGE vs. FBTC - Sharpe Ratio Comparison

The current AVGE Sharpe Ratio is 2.48, which is higher than the FBTC Sharpe Ratio of -0.93. The chart below compares the historical Sharpe Ratios of AVGE and FBTC, 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

AVGE vs. FBTC - Drawdown Comparison

The maximum AVGE drawdown since its inception was -17.13%, smaller than the maximum FBTC drawdown of -52.07%. Use the drawdown chart below to compare losses from any high point for AVGE and FBTC.

Drawdown Indicators

	AVGE	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-17.13%	-52.07%	+34.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.60%	-52.07%	+43.47%
Max Drawdown (3Y) Largest decline over 3 years	-17.13%	—	—
Current Drawdown Current decline from peak	-0.30%	-49.42%	+49.12%
Average Drawdown Average peak-to-trough decline	-2.41%	-16.46%	+14.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	29.61%	-27.58%

Volatility

AVGE vs. FBTC - Volatility Comparison

The current volatility for Avantis All Equity Markets ETF (AVGE) is 4.87%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 11.97%. This indicates that AVGE experiences smaller price fluctuations and is considered to be less risky than FBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGE	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	11.97%	-7.10%
Volatility (6M) Calculated over the trailing 6-month period	10.39%	34.39%	-24.00%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	43.98%	-30.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.27%	50.13%	-34.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.27%	50.13%	-34.86%

AVGE vs. FBTC - Expense Ratio Comparison

AVGE has a 0.23% expense ratio, which is lower than FBTC's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVGE vs. FBTC - Dividend Comparison

AVGE's dividend yield for the trailing twelve months is around 2.12%, while FBTC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
AVGE Avantis All Equity Markets ETF	2.12%	1.67%	1.92%	1.93%	0.74%
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVGE and FBTC in my portfolio?

AVGE and FBTC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVGE or FBTC?

FBTC has higher volatility (11.97%) compared to AVGE (4.87%). In terms of maximum drawdown, AVGE dropped -17.13% vs FBTC's -52.07%.

Which ETF is better, AVGE or FBTC?

On 1-year performance, AVGE leads with 33.67% vs -39.70% for FBTC. On fees, AVGE is cheaper at 0.23% per year. On volatility, AVGE has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVGE or FBTC?

Over the 1-year period, AVGE has performed better with a 33.67% return vs -39.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVGE or FBTC?

AVGE is cheaper with a 0.23% expense ratio, compared with 0.25% for FBTC.

Which ETF pays a higher dividend yield, AVGE or FBTC?

AVGE has the higher dividend yield at 2.12%, compared with 0.00% for FBTC.

What is the main difference between AVGE and FBTC?

AVGE is categorized as Global Equities, while FBTC is Cryptocurrency. They also come from different issuers: Avantis and Fidelity. Their fees differ too: 0.23% for AVGE and 0.25% for FBTC.

Which has better risk-adjusted returns?

AVGE currently has the higher Sharpe Ratio (2.48 vs -0.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.