FBTC.TO vs. FBTC
FBTC.TO (Fidelity Advantage Bitcoin ETF) and FBTC (Fidelity Wise Origin Bitcoin Fund) are both Cryptocurrency funds from Fidelity. FBTC.TO is actively managed, while FBTC is passively managed. Over the past year, FBTC.TO returned -41.41% vs -41.59% for FBTC. Their correlation of 0.94 suggests significant overlap in exposure. FBTC.TO charges 0.40%/yr vs 0.25%/yr for FBTC.
Performance
FBTC.TO vs. FBTC - Performance Comparison
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Different Trading Currencies
FBTC.TO is traded in CAD, while FBTC is traded in USD. To make them comparable, the FBTC 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 -29.14% return and FBTC slightly lower at -29.15%.
FBTC.TO
- 1D
- -3.77%
- 1M
- -20.17%
- YTD
- -29.14%
- 6M
- -28.64%
- 1Y
- -41.41%
- 3Y*
- 26.66%
- 5Y*
- —
- 10Y*
- —
FBTC
- 1D
- -3.71%
- 1M
- -18.63%
- YTD
- -29.15%
- 6M
- -28.91%
- 1Y
- -41.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBTC.TO vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -29.14% | -10.85% | 115.11% |
FBTC Fidelity Wise Origin Bitcoin Fund | -29.15% | -10.82% | 108.39% |
Correlation
The correlation between FBTC.TO and FBTC is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.94 |
The correlation between FBTC.TO and FBTC has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
FBTC.TO vs. FBTC — Risk / Return Rank
FBTC.TO
FBTC
FBTC.TO vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) 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.
| FBTC.TO | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.85 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.80 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.31 | -1.33 | +0.02 |
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Drawdowns
FBTC.TO vs. FBTC - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, which is greater than FBTC's maximum drawdown of -52.27%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and FBTC.
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Drawdown Indicators
| FBTC.TO | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -52.27% | -18.50% |
Max Drawdown (1Y)Largest decline over 1 year | -52.26% | -52.27% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -52.26% | — | — |
Current DrawdownCurrent decline from peak | -51.62% | -51.61% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -31.16% | -16.74% | -14.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.58% | 31.28% | +0.30% |
Volatility
FBTC.TO vs. FBTC - Volatility Comparison
Fidelity Advantage Bitcoin ETF (FBTC.TO) and Fidelity Wise Origin Bitcoin Fund (FBTC) have volatilities of 13.31% and 13.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC.TO | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.31% | 13.24% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 33.64% | 34.51% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.56% | 44.57% | -1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.28% | 50.51% | +1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.28% | 50.51% | +1.77% |
FBTC.TO vs. FBTC - Expense Ratio Comparison
FBTC.TO has a 0.40% expense ratio, which is higher than FBTC's 0.25% expense ratio.
Dividends
FBTC.TO vs. FBTC - Dividend Comparison
Neither FBTC.TO nor FBTC has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, FBTC.TO and FBTC 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.
On fees, FBTC is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FBTC is cheaper with a 0.25% expense ratio, compared with 0.40% for FBTC.TO.
Their fees differ too: 0.40% for FBTC.TO and 0.25% for FBTC.
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