FBTC.TO vs. IBIT
FBTC.TO (Fidelity Advantage Bitcoin ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. FBTC.TO is actively managed, while IBIT is passively managed. Over the past year, FBTC.TO returned -43.70% vs -43.02% for IBIT. Their correlation of 0.94 means they have usually moved in the same direction. FBTC.TO charges 0.35%/yr vs 0.25%/yr for IBIT.
Performance
FBTC.TO vs. IBIT - Performance Comparison
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Different Trading Currencies
FBTC.TO is traded in CAD, while IBIT is traded in USD. To make them comparable, the IBIT values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FBTC.TO achieves a -26.79% return, which is significantly lower than IBIT's -25.43% return.
FBTC.TO
- 1D
- -2.82%
- 1M
- -0.55%
- 6M
- -17.34%
- YTD
- -26.79%
- 1Y
- -43.70%
- 3Y*
- 30.58%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.42%
IBIT
- 1D
- 1.54%
- 1M
- 2.27%
- 6M
- -15.91%
- YTD
- -25.43%
- 1Y
- -43.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$1.47M | CA$1.74M | CA$2.64M | |
| CA$1.87B | CA$1.88B | CA$2.31B |
FBTC.TO vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -26.79% | -10.85% | 115.11% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -10.68% | 103.66% |
Correlation
The correlation between FBTC.TO and IBIT is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.94 |
The correlation between FBTC.TO and IBIT 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. IBIT — Risk / Return Rank
FBTC.TO
IBIT
FBTC.TO vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.84 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.82 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.29 | -1.22 | -0.07 |
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Drawdowns
FBTC.TO vs. IBIT - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, which is greater than IBIT's maximum drawdown of -52.49%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and IBIT.
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Drawdown Indicators
| FBTC.TO | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -52.49% | -18.28% |
Max Drawdown (1Y)Largest decline over 1 year | -52.71% | -52.49% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -52.71% | — | — |
Current DrawdownCurrent decline from peak | -50.02% | -49.07% | -0.95% |
Average DrawdownAverage peak-to-trough decline | -31.56% | -18.17% | -13.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.33% | 35.21% | +0.12% |
Volatility
FBTC.TO vs. IBIT - Volatility Comparison
The current volatility for Fidelity Advantage Bitcoin ETF (FBTC.TO) is 7.97%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.90%. This indicates that FBTC.TO experiences smaller price fluctuations and is considered to be less risky than IBIT 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 | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.97% | 8.90% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 32.98% | 33.53% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.81% | 44.61% | -0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.90% | 49.84% | +2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.90% | 49.84% | +2.06% |
FBTC.TO vs. IBIT - Expense Ratio Comparison
FBTC.TO has a 0.35% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
FBTC.TO vs. IBIT - Dividend Comparison
Neither FBTC.TO nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, FBTC.TO and IBIT 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, IBIT is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.35% for FBTC.TO.
They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.35% for FBTC.TO and 0.25% for IBIT.
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