DFIS vs. FBTC

Last updated Jul 21, 2026

DFIS (Dimensional International Small Cap ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both exchange-traded funds - DFIS is a Foreign Small & Mid Cap Equities fund actively managed by Dimensional, while FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. DFIS is actively managed, while FBTC is passively managed. Over the past year, DFIS returned 19.69% vs -44.68% for FBTC. At a 0.34 correlation, their price movements are largely independent. DFIS charges 0.39%/yr vs 0.25%/yr for FBTC.

Performance

DFIS vs. FBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Small Cap ETF (DFIS) 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, DFIS achieves a 7.73% return, which is significantly higher than FBTC's -25.63% return.

DFIS

• 1D: -0.65%
• 1M: -1.71%
• 6M: 3.25%
• YTD: 7.73%
• 1Y: 19.69%
• 3Y*: 16.78%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.66%

FBTC

• 1D: 1.56%
• 1M: 3.51%
• 6M: -31.89%
• YTD: -25.63%
• 1Y: -44.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.64%

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

DFIS vs. FBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFIS Dimensional International Small Cap ETF	7.73%	37.49%	5.32%
FBTC Fidelity Wise Origin Bitcoin Fund	-25.63%	-6.56%	94.28%

Correlation

The correlation between DFIS and FBTC is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.34

Return for Risk

DFIS vs. FBTC — Risk / Return Rank

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

DFIS

DFIS Risk / Return Rank: 47
DFIS Sharpe Ratio Rank: 50
DFIS Sortino Ratio Rank: 49
DFIS Omega Ratio Rank: 48
DFIS Calmar Ratio Rank: 41
DFIS Martin Ratio Rank: 47

FBTC

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

DFIS vs. FBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Small Cap ETF (DFIS) 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.

	DFIS	FBTC	Difference
Sharpe ratio: Return per unit of total volatility	1.31	-1.01	+2.32
Sortino ratio: Return per unit of downside risk	1.88	-1.50	+3.38
Omega ratio: Gain probability vs. loss probability	1.23	0.83	+0.40
Calmar ratio: Return relative to maximum drawdown	1.59	-0.84	+2.43
Martin ratio: Return relative to average drawdown	5.79	-1.34	+7.13

DFIS vs. FBTC - Sharpe Ratio Comparison

The current DFIS Sharpe Ratio is 1.31, which is higher than the FBTC Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of DFIS 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

DFIS vs. FBTC - Drawdown Comparison

The maximum DFIS drawdown since its inception was -27.23%, smaller than the maximum FBTC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for DFIS and FBTC.

Drawdown Indicators

	DFIS	FBTC	Difference
Max Drawdown Largest peak-to-trough decline	-27.23%	-53.35%	+26.12%
Max Drawdown (1Y) Largest decline over 1 year	-12.44%	-53.35%	+40.91%
Max Drawdown (3Y) Largest decline over 3 years	-13.55%	—	—
Current Drawdown Current decline from peak	-4.17%	-48.20%	+44.03%
Average Drawdown Average peak-to-trough decline	-6.08%	-17.73%	+11.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	33.39%	-29.98%

Volatility

DFIS vs. FBTC - Volatility Comparison

The current volatility for Dimensional International Small Cap ETF (DFIS) is 3.66%, while Fidelity Wise Origin Bitcoin Fund (FBTC) has a volatility of 10.58%. This indicates that DFIS 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

	DFIS	FBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	10.58%	-6.92%
Volatility (6M) Calculated over the trailing 6-month period	13.01%	34.53%	-21.52%
Volatility (1Y) Calculated over the trailing 1-year period	15.16%	44.30%	-29.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.27%	49.71%	-32.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.27%	49.71%	-32.44%

DFIS vs. FBTC - Expense Ratio Comparison

DFIS has a 0.39% expense ratio, which is higher than FBTC's 0.25% expense ratio.

Dividends

DFIS vs. FBTC - Dividend Comparison

DFIS's dividend yield for the trailing twelve months is around 2.04%, while FBTC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
DFIS Dimensional International Small Cap ETF	2.04%	2.23%	2.19%	2.36%	1.13%
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFIS and FBTC in my portfolio?

DFIS and FBTC have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFIS or FBTC?

FBTC has higher volatility (10.58%) compared to DFIS (3.66%). In terms of maximum drawdown, DFIS dropped -27.23% vs FBTC's -53.35%.

Which ETF is better, DFIS or FBTC?

On 1-year performance, DFIS leads with 19.69% vs -44.68% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, DFIS has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFIS or FBTC?

Over the 1-year period, DFIS has performed better with a 19.69% return vs -44.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFIS or FBTC?

FBTC is cheaper with a 0.25% expense ratio, compared with 0.39% for DFIS.

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

DFIS has the higher dividend yield at 2.04%, compared with 0.00% for FBTC.

What is the main difference between DFIS and FBTC?

DFIS is categorized as Foreign Small & Mid Cap Equities, while FBTC is Cryptocurrency. They also come from different issuers: Dimensional and Fidelity. Their fees differ too: 0.39% for DFIS and 0.25% for FBTC.

Which has better risk-adjusted returns?

DFIS currently has the higher Sharpe Ratio (1.31 vs -1.01), 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.