FBTC.TO vs. EBIT-U.TO
FBTC.TO (Fidelity Advantage Bitcoin ETF) and EBIT-U.TO (Evolve Bitcoin ETF USD) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, FBTC.TO returned 31.17%/yr vs 29.47%/yr for EBIT-U.TO. Their correlation of 0.90 suggests significant overlap in exposure.
Performance
FBTC.TO vs. EBIT-U.TO - Performance Comparison
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Different Trading Currencies
FBTC.TO is traded in CAD, while EBIT-U.TO is traded in USD. To make them comparable, the EBIT-U.TO values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with FBTC.TO having a -25.28% return and EBIT-U.TO slightly lower at -26.24%.
FBTC.TO
- 1D
- -0.37%
- 1M
- -0.74%
- 6M
- -32.43%
- YTD
- -25.28%
- 1Y
- -45.25%
- 3Y*
- 31.17%
- 5Y*
- —
- 10Y*
- —
EBIT-U.TO
- 1D
- -1.77%
- 1M
- -1.72%
- 6M
- -32.25%
- YTD
- -26.24%
- 1Y
- -45.63%
- 3Y*
- 29.47%
- 5Y*
- 15.42%
- 10Y*
- —
FBTC.TO vs. EBIT-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -25.28% | -10.85% | 137.16% | 145.80% | -61.34% | -20.46% |
EBIT-U.TO Evolve Bitcoin ETF USD | -26.24% | -11.00% | 134.26% | 147.82% | -62.74% | -19.39% |
Correlation
The correlation between FBTC.TO and EBIT-U.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 FBTC.TO and EBIT-U.TO has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
FBTC.TO vs. EBIT-U.TO — Risk / Return Rank
FBTC.TO
EBIT-U.TO
FBTC.TO vs. EBIT-U.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) and Evolve Bitcoin ETF USD (EBIT-U.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.
| FBTC.TO | EBIT-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.84 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.85 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.33 | -1.35 | +0.01 |
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Drawdowns
FBTC.TO vs. EBIT-U.TO - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, smaller than the maximum EBIT-U.TO drawdown of -76.08%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and EBIT-U.TO.
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Drawdown Indicators
| FBTC.TO | EBIT-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -76.08% | +5.31% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -53.57% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | -53.57% | +0.86% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.08% | — |
Current DrawdownCurrent decline from peak | -48.98% | -49.16% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -31.41% | -33.36% | +1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.99% | 33.94% | +0.05% |
Volatility
FBTC.TO vs. EBIT-U.TO - Volatility Comparison
The current volatility for Fidelity Advantage Bitcoin ETF (FBTC.TO) is 10.11%, while Evolve Bitcoin ETF USD (EBIT-U.TO) has a volatility of 12.97%. This indicates that FBTC.TO experiences smaller price fluctuations and is considered to be less risky than EBIT-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC.TO | EBIT-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.11% | 12.97% | -2.86% |
Volatility (6M)Calculated over the trailing 6-month period | 33.46% | 37.63% | -4.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.60% | 46.44% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.06% | 54.82% | -2.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.06% | 56.34% | -4.28% |
Dividends
FBTC.TO vs. EBIT-U.TO - Dividend Comparison
Neither FBTC.TO nor EBIT-U.TO has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, FBTC.TO and EBIT-U.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: Fidelity and Evolve.
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