BKKT vs. FXAIX

Last updated Aug 1, 2026

BKKT (Bakkt Holdings, Inc.) is a stock, while FXAIX (Fidelity 500 Index Fund) is S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, BKKT returned -50.69%/yr vs 12.68%/yr for FXAIX. Their 0.43 correlation means their historical movements had little consistent relationship.

Performance

BKKT vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bakkt Holdings, Inc. (BKKT) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKKT achieves a -28.59% return, which is significantly lower than FXAIX's 9.35% return.

BKKT

• 1D: -3.63%
• 1M: -14.23%
• 6M: -46.45%
• YTD: -28.59%
• 1Y: -23.15%
• 3Y*: -43.50%
• 5Y*: -50.69%
• 10Y*: —
• ALL TIME*: -47.29%

FXAIX

• 1D: 1.66%
• 1M: -0.56%
• 6M: 7.79%
• YTD: 9.35%
• 1Y: 20.63%
• 3Y*: 19.03%
• 5Y*: 12.68%
• 10Y*: 15.00%
• ALL TIME*: 13.89%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BKKT Bakkt Holdings, Inc.	$6.67M	$7.36M	$15.50M
FXAIX Fidelity 500 Index Fund	$0.00	$0.00	$0.00

BKKT vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKKT Bakkt Holdings, Inc.	-28.59%	-59.47%	-55.57%	87.39%	-86.02%	-15.58%	-8.36%
FXAIX Fidelity 500 Index Fund	9.35%	17.84%	25.01%	26.29%	-18.14%	28.71%	5.46%

Correlation

The correlation between BKKT and FXAIX is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.43
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (All Time) Calculated using the full available price history since Nov 19, 2020	0.43

Return for Risk

BKKT vs. FXAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BKKT

BKKT Risk / Return Rank: 41
BKKT Sharpe Ratio Rank: 35
BKKT Sortino Ratio Rank: 51
BKKT Omega Ratio Rank: 48
BKKT Calmar Ratio Rank: 33
BKKT Martin Ratio Rank: 36

FXAIX

FXAIX Risk / Return Rank: 64
FXAIX Sharpe Ratio Rank: 61
FXAIX Sortino Ratio Rank: 58
FXAIX Omega Ratio Rank: 59
FXAIX Calmar Ratio Rank: 65
FXAIX Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BKKT vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bakkt Holdings, Inc. (BKKT) and Fidelity 500 Index Fund (FXAIX). 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.

	BKKT	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	1.43	-1.63
Sortino ratio: Return per unit of downside risk	0.68	2.00	-1.32
Omega ratio: Gain probability vs. loss probability	1.07	1.26	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.33	2.06	-2.39
Martin ratio: Return relative to average drawdown	-0.42	8.86	-9.28

BKKT vs. FXAIX - Sharpe Ratio Comparison

The current BKKT Sharpe Ratio is -0.21, which is lower than the FXAIX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of BKKT and FXAIX, 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

BKKT vs. FXAIX - Drawdown Comparison

The maximum BKKT drawdown since its inception was -99.41%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for BKKT and FXAIX.

Drawdown Indicators

	BKKT	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.41%	-33.79%	-65.62%
Max Drawdown (1Y) Largest decline over 1 year	-84.79%	-8.89%	-75.90%
Max Drawdown (3Y) Largest decline over 3 years	-89.36%	-18.76%	-70.60%
Max Drawdown (5Y) Largest decline over 5 years	-99.41%	-24.50%	-74.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	-99.33%	-2.11%	-97.22%
Average Drawdown Average peak-to-trough decline	-85.12%	-3.77%	-81.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	65.81%	2.07%	+63.74%

Volatility

BKKT vs. FXAIX - Volatility Comparison

Bakkt Holdings, Inc. (BKKT) has a higher volatility of 21.04% compared to Fidelity 500 Index Fund (FXAIX) at 3.44%. This indicates that BKKT's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKKT	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.04%	3.44%	+17.60%
Volatility (6M) Calculated over the trailing 6-month period	65.34%	10.09%	+55.25%
Volatility (1Y) Calculated over the trailing 1-year period	134.63%	12.86%	+121.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	190.05%	17.03%	+173.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	181.08%	18.07%	+163.01%

Dividends

BKKT vs. FXAIX - Dividend Comparison

BKKT has not paid dividends to shareholders, while FXAIX's dividend yield for the trailing twelve months is around 1.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKKT Bakkt Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXAIX Fidelity 500 Index Fund	1.07%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both BKKT and FXAIX in my portfolio?

BKKT and FXAIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKKT or FXAIX?

BKKT has higher volatility (21.04%) compared to FXAIX (3.44%). In terms of maximum drawdown, BKKT dropped -99.41% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (1.43 vs -0.21), 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.