BMNR vs. FBTC
BMNR (BitMine Immersion Technologies, Inc.) is a stock, while FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. Over the past year, BMNR returned 123.39% vs -39.41% for FBTC. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
BMNR vs. FBTC - Performance Comparison
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Returns By Period
In the year-to-date period, BMNR achieves a -37.94% return, which is significantly lower than FBTC's -27.63% return.
BMNR
- 1D
- 5.97%
- 1M
- -24.00%
- YTD
- -37.94%
- 6M
- -52.99%
- 1Y
- 123.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBTC
- 1D
- 5.17%
- 1M
- -20.97%
- YTD
- -27.63%
- 6M
- -30.29%
- 1Y
- -39.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNR vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BMNR BitMine Immersion Technologies, Inc. | -37.94% | 274.59% |
FBTC Fidelity Wise Origin Bitcoin Fund | -27.63% | -16.82% |
Correlation
The correlation between BMNR and FBTC is 0.68, 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 | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025 | 0.67 |
The correlation between BMNR and FBTC has been stable across timeframes, ranging from 0.67 to 0.68 - a consistent structural relationship.
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Return for Risk
BMNR vs. FBTC — Risk / Return Rank
BMNR
FBTC
BMNR vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BitMine Immersion Technologies, Inc. (BMNR) 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.
| BMNR | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +9.08 | ||
| Omega ratioGain probability vs. loss probability | 1.92 | 0.86 | +1.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | -0.76 | +2.17 |
| Martin ratioReturn relative to average drawdown | 1.70 | -1.36 | +3.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BMNR | FBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | -0.90 | +1.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.27 | -0.10 |
Drawdowns
BMNR vs. FBTC - Drawdown Comparison
The maximum BMNR drawdown since its inception was -88.22%, which is greater than FBTC's maximum drawdown of -52.07%. Use the drawdown chart below to compare losses from any high point for BMNR and FBTC.
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Drawdown Indicators
| BMNR | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.22% | -52.07% | -36.15% |
Max Drawdown (1Y)Largest decline over 1 year | -88.22% | -52.07% | -36.15% |
Current DrawdownCurrent decline from peak | -87.51% | -49.59% | -37.92% |
Average DrawdownAverage peak-to-trough decline | -70.84% | -16.18% | -54.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.93% | 28.93% | +44.00% |
Volatility
BMNR vs. FBTC - Volatility Comparison
BitMine Immersion Technologies, Inc. (BMNR) has a higher volatility of 22.68% compared to Fidelity Wise Origin Bitcoin Fund (FBTC) at 11.77%. This indicates that BMNR's price experiences larger fluctuations and is considered to be riskier than FBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMNR | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.68% | 11.77% | +10.91% |
Volatility (6M)Calculated over the trailing 6-month period | 61.92% | 34.55% | +27.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 719.09% | 44.17% | +674.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 717.68% | 50.26% | +667.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 717.68% | 50.26% | +667.42% |
Dividends
BMNR vs. FBTC - Dividend Comparison
BMNR's dividend yield for the trailing twelve months is around 0.06%, while FBTC has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BMNR BitMine Immersion Technologies, Inc. | 0.06% | 0.04% |
FBTC Fidelity Wise Origin Bitcoin Fund | 0.00% | 0.00% |
Frequently Asked Questions
BMNR and FBTC have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMNR has higher volatility (22.68%) compared to FBTC (11.77%). In terms of maximum drawdown, BMNR dropped -88.22% vs FBTC's -52.07%.
BMNR currently has the higher Sharpe Ratio (0.17 vs -0.90), 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.
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