BTC-USD vs. FBTC
BTC-USD (Bitcoin) is a cryptocurrency, while FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. Over the past year, BTC-USD returned -41.81% vs -42.38% for FBTC. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
BTC-USD vs. FBTC - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BTC-USD having a -30.57% return and FBTC slightly lower at -31.18%.
BTC-USD
- 1D
- -0.47%
- 1M
- -24.07%
- YTD
- -30.57%
- 6M
- -31.95%
- 1Y
- -41.81%
- 3Y*
- 32.11%
- 5Y*
- 12.59%
- 10Y*
- 59.14%
FBTC
- 1D
- -5.08%
- 1M
- -24.84%
- YTD
- -31.18%
- 6M
- -32.63%
- 1Y
- -42.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTC-USD Bitcoin | -30.57% | -6.27% | 101.44% |
FBTC Fidelity Wise Origin Bitcoin Fund | -31.18% | -6.56% | 99.56% |
Correlation
The correlation between BTC-USD and FBTC is 0.72, 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 | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.72 |
The correlation between BTC-USD and FBTC has been stable across timeframes, ranging from 0.72 to 0.72 - a consistent structural relationship.
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Return for Risk
BTC-USD vs. FBTC — Risk / Return Rank
BTC-USD
FBTC
BTC-USD vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) 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.
| BTC-USD | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.85 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.79 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.46 | -1.43 | -0.03 |
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
| BTC-USD | FBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.98 | -0.94 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.22 | +0.90 |
Drawdowns
BTC-USD vs. FBTC - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than FBTC's maximum drawdown of -52.07%. Use the drawdown chart below to compare losses from any high point for BTC-USD and FBTC.
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Drawdown Indicators
| BTC-USD | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -52.07% | -33.23% |
Max Drawdown (1Y)Largest decline over 1 year | -51.29% | -52.07% | +0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -51.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | — | — |
Current DrawdownCurrent decline from peak | -51.29% | -52.07% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -42.30% | -16.12% | -26.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.17% | 28.76% | +5.41% |
Volatility
BTC-USD vs. FBTC - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 10.64% compared to Fidelity Wise Origin Bitcoin Fund (FBTC) at 9.84%. This indicates that BTC-USD'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
| BTC-USD | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.64% | 9.84% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 34.30% | 34.13% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.59% | 43.92% | -8.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.99% | 50.19% | -5.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.70% | 50.19% | +6.51% |
Frequently Asked Questions
BTC-USD and FBTC have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (10.64%) compared to FBTC (9.84%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs FBTC's -52.07%.
FBTC currently has the higher Sharpe Ratio (-0.94 vs -0.98), 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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