FBTC.TO vs. LBIT.TO
FBTC.TO (Fidelity Advantage Bitcoin ETF) and LBIT.TO (Evolve Levered Bitcoin ETF) are both exchange-traded funds - FBTC.TO is a Cryptocurrency fund actively managed by Fidelity, while LBIT.TO is a Leveraged Cryptocurrency fund actively managed by Evolve. Both are actively managed. Over the past year, FBTC.TO returned -37.95% vs -46.69% for LBIT.TO. Their correlation of 0.84 suggests significant overlap in exposure. FBTC.TO charges 0.40%/yr vs 0.75%/yr for LBIT.TO.
Performance
FBTC.TO vs. LBIT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC.TO achieves a -24.39% return, which is significantly higher than LBIT.TO's -30.02% return.
FBTC.TO
- 1D
- -2.22%
- 1M
- -16.83%
- YTD
- -24.39%
- 6M
- -30.03%
- 1Y
- -37.95%
- 3Y*
- 34.59%
- 5Y*
- —
- 10Y*
- —
LBIT.TO
- 1D
- -0.45%
- 1M
- -19.20%
- YTD
- -30.02%
- 6M
- -35.83%
- 1Y
- -46.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBTC.TO vs. LBIT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -24.39% | 1.77% |
LBIT.TO Evolve Levered Bitcoin ETF | -30.02% | -1.29% |
Correlation
The correlation between FBTC.TO and LBIT.TO is 0.87, 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 | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2025 | 0.84 |
The correlation between FBTC.TO and LBIT.TO has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.
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Return for Risk
FBTC.TO vs. LBIT.TO — Risk / Return Rank
FBTC.TO
LBIT.TO
FBTC.TO vs. LBIT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) and Evolve Levered Bitcoin ETF (LBIT.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.
| FBTC.TO | LBIT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.85 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | -0.80 | +0.04 |
| Martin ratioReturn relative to average drawdown | -1.30 | -1.34 | +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 | LBIT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | -0.89 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | -0.51 | +0.59 |
Drawdowns
FBTC.TO vs. LBIT.TO - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, which is greater than LBIT.TO's maximum drawdown of -58.70%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and LBIT.TO.
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Drawdown Indicators
| FBTC.TO | LBIT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -58.70% | -12.07% |
Max Drawdown (1Y)Largest decline over 1 year | -50.22% | -58.70% | +8.48% |
Max Drawdown (3Y)Largest decline over 3 years | -50.22% | — | — |
Current DrawdownCurrent decline from peak | -48.38% | -56.66% | +8.28% |
Average DrawdownAverage peak-to-trough decline | -30.94% | -24.25% | -6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.18% | 34.90% | -5.72% |
Volatility
FBTC.TO vs. LBIT.TO - Volatility Comparison
The current volatility for Fidelity Advantage Bitcoin ETF (FBTC.TO) is 9.72%, while Evolve Levered Bitcoin ETF (LBIT.TO) has a volatility of 11.88%. This indicates that FBTC.TO experiences smaller price fluctuations and is considered to be less risky than LBIT.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 | LBIT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.72% | 11.88% | -2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 33.63% | 42.12% | -8.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.84% | 52.56% | -9.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.37% | 51.49% | +0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.37% | 51.49% | +0.88% |
FBTC.TO vs. LBIT.TO - Expense Ratio Comparison
FBTC.TO has a 0.40% expense ratio, which is lower than LBIT.TO's 0.75% expense ratio.
Dividends
FBTC.TO vs. LBIT.TO - Dividend Comparison
Neither FBTC.TO nor LBIT.TO has paid dividends to shareholders.
Frequently Asked Questions
FBTC.TO and LBIT.TO have a correlation of 0.87, 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 0.75% for LBIT.TO.
FBTC.TO is categorized as Cryptocurrency, while LBIT.TO is Leveraged Cryptocurrency. They also come from different issuers: Fidelity and Evolve. Their fees differ too: 0.40% for FBTC.TO and 0.75% for LBIT.TO.
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