EBIT-U.TO vs. FBTC.TO
EBIT-U.TO (Evolve Bitcoin ETF USD) and FBTC.TO (Fidelity Advantage Bitcoin ETF) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, EBIT-U.TO returned 27.56%/yr vs 28.17%/yr for FBTC.TO. Their correlation of 0.90 suggests significant overlap in exposure.
Performance
EBIT-U.TO vs. FBTC.TO - Performance Comparison
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Different Trading Currencies
EBIT-U.TO is traded in USD, while FBTC.TO is traded in CAD. To make them comparable, the FBTC.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with EBIT-U.TO having a -26.81% return and FBTC.TO slightly higher at -26.14%.
EBIT-U.TO
- 1D
- 1.65%
- 1M
- -2.19%
- 6M
- -33.71%
- YTD
- -26.81%
- 1Y
- -45.49%
- 3Y*
- 27.56%
- 5Y*
- 13.31%
- 10Y*
- —
FBTC.TO
- 1D
- 1.13%
- 1M
- -3.05%
- 6M
- -33.61%
- YTD
- -26.14%
- 1Y
- -44.49%
- 3Y*
- 28.17%
- 5Y*
- —
- 10Y*
- —
EBIT-U.TO vs. FBTC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EBIT-U.TO Evolve Bitcoin ETF USD | -26.81% | -6.74% | 115.98% | 153.86% | -64.96% | -19.20% |
FBTC.TO Fidelity Advantage Bitcoin ETF | -26.14% | -6.59% | 118.65% | 151.79% | -63.64% | -20.05% |
Correlation
The correlation between EBIT-U.TO and FBTC.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.90 |
The correlation between EBIT-U.TO and FBTC.TO has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
EBIT-U.TO vs. FBTC.TO — Risk / Return Rank
EBIT-U.TO
FBTC.TO
EBIT-U.TO vs. FBTC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Evolve Bitcoin ETF USD (EBIT-U.TO) and Fidelity Advantage Bitcoin ETF (FBTC.TO). 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.
| EBIT-U.TO | FBTC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.83 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.83 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.34 | -0.03 |
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Drawdowns
EBIT-U.TO vs. FBTC.TO - Drawdown Comparison
The maximum EBIT-U.TO drawdown since its inception was -77.55%, which is greater than FBTC.TO's maximum drawdown of -71.97%. Use the drawdown chart below to compare losses from any high point for EBIT-U.TO and FBTC.TO.
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Drawdown Indicators
| EBIT-U.TO | FBTC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.55% | -71.97% | -5.58% |
Max Drawdown (1Y)Largest decline over 1 year | -54.37% | -53.52% | -0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -54.37% | -53.52% | -0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -77.55% | — | — |
Current DrawdownCurrent decline from peak | -48.57% | -48.58% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -34.50% | -32.22% | -2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.35% | 33.27% | +0.08% |
Volatility
EBIT-U.TO vs. FBTC.TO - Volatility Comparison
Evolve Bitcoin ETF USD (EBIT-U.TO) has a higher volatility of 13.32% compared to Fidelity Advantage Bitcoin ETF (FBTC.TO) at 10.73%. This indicates that EBIT-U.TO's price experiences larger fluctuations and is considered to be riskier than FBTC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EBIT-U.TO | FBTC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.32% | 10.73% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 37.75% | 33.91% | +3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.29% | 43.99% | +2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.49% | 52.43% | +2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.01% | 52.43% | +3.58% |
Dividends
EBIT-U.TO vs. FBTC.TO - Dividend Comparison
Neither EBIT-U.TO nor FBTC.TO has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, EBIT-U.TO and FBTC.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
They also come from different issuers: Evolve and Fidelity.
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