FBTC.TO vs. GBTC
Compare and contrast key facts about Fidelity Advantage Bitcoin ETF (FBTC.TO) and Grayscale Bitcoin Trust (BTC) (GBTC).
FBTC.TO is an actively managed fund by Fidelity. It was launched on Nov 30, 2021.
Performance
FBTC.TO vs. GBTC - Performance Comparison
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FBTC.TO vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -21.62% | -10.85% | 137.16% | 145.80% | -61.34% | -20.88% |
GBTC Grayscale Bitcoin Trust (BTC) | -21.78% | -11.88% | 132.17% | 308.41% | -74.07% | -25.51% |
Different Trading Currencies
FBTC.TO is traded in CAD, while GBTC is traded in USD. To make them comparable, the GBTC 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 -21.62% return and GBTC slightly lower at -21.78%.
FBTC.TO
- 1D
- 1.70%
- 1M
- 5.18%
- YTD
- -21.62%
- 6M
- -40.83%
- 1Y
- -20.77%
- 3Y*
- 33.25%
- 5Y*
- —
- 10Y*
- —
GBTC
- 1D
- 1.86%
- 1M
- 5.23%
- YTD
- -21.78%
- 6M
- -41.28%
- 1Y
- -21.74%
- 3Y*
- 49.16%
- 5Y*
- 2.83%
- 10Y*
- 59.53%
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Return for Risk
FBTC.TO vs. GBTC — Risk / Return Rank
FBTC.TO
GBTC
FBTC.TO vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) and Grayscale Bitcoin Trust (BTC) (GBTC). 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.
| FBTC.TO | GBTC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.47 | -0.49 | +0.02 |
Sortino ratioReturn per unit of downside risk | -0.41 | -0.45 | +0.04 |
Omega ratioGain probability vs. loss probability | 0.95 | 0.95 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | -0.43 | -0.45 | +0.02 |
Martin ratioReturn relative to average drawdown | -0.91 | -0.95 | +0.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FBTC.TO | GBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.47 | -0.49 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.05 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.70 | -0.60 |
Correlation
The correlation between FBTC.TO and GBTC is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FBTC.TO vs. GBTC - Dividend Comparison
Neither FBTC.TO nor GBTC has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
Drawdowns
FBTC.TO vs. GBTC - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, smaller than the maximum GBTC drawdown of -89.63%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and GBTC.
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Drawdown Indicators
| FBTC.TO | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -89.91% | +19.14% |
Max Drawdown (1Y)Largest decline over 1 year | -50.22% | -49.55% | -0.67% |
Max Drawdown (5Y)Largest decline over 5 years | — | -85.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.91% | — |
Current DrawdownCurrent decline from peak | -46.48% | -46.40% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -30.53% | -43.48% | +12.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.72% | 23.21% | +0.51% |
Volatility
FBTC.TO vs. GBTC - Volatility Comparison
Fidelity Advantage Bitcoin ETF (FBTC.TO) and Grayscale Bitcoin Trust (BTC) (GBTC) have volatilities of 13.01% and 12.96%, 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 | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.01% | 12.96% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 36.24% | 36.40% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.80% | 44.76% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.99% | 62.55% | -9.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.99% | 81.72% | -28.73% |