FBTC.TO vs. FCSB.NEO
FBTC.TO (Fidelity Advantage Bitcoin ETF) and FCSB.NEO (Fidelity Canadian Short Term Corporate Bond ETF) are both exchange-traded funds - FBTC.TO is a Cryptocurrency fund actively managed by Fidelity, while FCSB.NEO is a Corporate Bonds fund tracking the FTSE Canada Short Term Corporate Bond 5% Capped Index. FBTC.TO is actively managed, while FCSB.NEO is passively managed. Over the past 3 years, FBTC.TO returned 30.97%/yr vs 6.00%/yr for FCSB.NEO. At a 0.03 correlation, their price movements are largely independent. FBTC.TO charges 0.40%/yr vs 0.44%/yr for FCSB.NEO.
Performance
FBTC.TO vs. FCSB.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC.TO achieves a -24.55% return, which is significantly lower than FCSB.NEO's 1.53% return.
FBTC.TO
- 1D
- 2.93%
- 1M
- 2.12%
- 6M
- -30.80%
- YTD
- -24.55%
- 1Y
- -44.88%
- 3Y*
- 30.97%
- 5Y*
- —
- 10Y*
- —
FCSB.NEO
- 1D
- 0.04%
- 1M
- 0.39%
- 6M
- 1.10%
- YTD
- 1.53%
- 1Y
- 3.66%
- 3Y*
- 6.00%
- 5Y*
- 2.94%
- 10Y*
- —
FBTC.TO vs. FCSB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -24.55% | -10.85% | 137.16% | 145.80% | -61.34% | -20.46% |
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 1.53% | 4.15% | 7.55% | 6.81% | -4.22% | 0.00% |
Correlation
The correlation between FBTC.TO and FCSB.NEO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.03 |
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Return for Risk
FBTC.TO vs. FCSB.NEO — Risk / Return Rank
FBTC.TO
FCSB.NEO
FBTC.TO vs. FCSB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) and Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO). 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 | FCSB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -3.48 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.24 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 2.32 | -3.18 |
| Martin ratioReturn relative to average drawdown | -1.34 | 8.49 | -9.83 |
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Drawdowns
FBTC.TO vs. FCSB.NEO - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, which is greater than FCSB.NEO's maximum drawdown of -12.48%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and FCSB.NEO.
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Drawdown Indicators
| FBTC.TO | FCSB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -12.48% | -58.29% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -1.58% | -51.13% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | -1.58% | -51.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.44% | — |
Current DrawdownCurrent decline from peak | -48.48% | -0.47% | -48.01% |
Average DrawdownAverage peak-to-trough decline | -31.37% | -1.48% | -29.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.57% | 0.43% | +33.14% |
Volatility
FBTC.TO vs. FCSB.NEO - Volatility Comparison
Fidelity Advantage Bitcoin ETF (FBTC.TO) has a higher volatility of 11.49% compared to Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) at 1.01%. This indicates that FBTC.TO's price experiences larger fluctuations and is considered to be riskier than FCSB.NEO 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 | FCSB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.49% | 1.01% | +10.48% |
Volatility (6M)Calculated over the trailing 6-month period | 33.73% | 2.15% | +31.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.77% | 2.81% | +40.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.12% | 3.32% | +48.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.12% | 4.93% | +47.19% |
FBTC.TO vs. FCSB.NEO - Expense Ratio Comparison
FBTC.TO has a 0.40% expense ratio, which is lower than FCSB.NEO's 0.44% expense ratio.
Dividends
FBTC.TO vs. FCSB.NEO - Dividend Comparison
FBTC.TO has not paid dividends to shareholders, while FCSB.NEO's dividend yield for the trailing twelve months is around 3.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 3.81% | 3.73% | 3.59% | 3.06% | 2.09% | 1.58% | 2.34% | 0.38% |
Frequently Asked Questions
FBTC.TO and FCSB.NEO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FBTC.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FBTC.TO is cheaper with a 0.40% expense ratio, compared with 0.44% for FCSB.NEO.
FBTC.TO is categorized as Cryptocurrency, while FCSB.NEO is Corporate Bonds. Their fees differ too: 0.40% for FBTC.TO and 0.44% for FCSB.NEO.
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