FBTC.TO vs. MSTR
Compare and contrast key facts about Fidelity Advantage Bitcoin ETF (FBTC.TO) and MicroStrategy Incorporated (MSTR).
FBTC.TO is an actively managed fund by Fidelity. It was launched on Nov 30, 2021.
Performance
FBTC.TO vs. MSTR - Performance Comparison
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FBTC.TO vs. MSTR - 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% |
MSTR MicroStrategy Incorporated | -16.76% | -49.94% | 397.93% | 336.33% | -72.15% | -21.35% |
Different Trading Currencies
FBTC.TO is traded in CAD, while MSTR is traded in USD. To make them comparable, the MSTR 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 -21.62% return, which is significantly lower than MSTR's -16.76% return.
FBTC.TO
- 1D
- 1.70%
- 1M
- 5.18%
- YTD
- -21.62%
- 6M
- -40.83%
- 1Y
- -20.77%
- 3Y*
- 33.25%
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- 2.65%
- 1M
- -1.73%
- YTD
- -16.76%
- 6M
- -61.30%
- 1Y
- -58.15%
- 3Y*
- 63.78%
- 5Y*
- 14.48%
- 10Y*
- 21.99%
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Return for Risk
FBTC.TO vs. MSTR — Risk / Return Rank
FBTC.TO
MSTR
FBTC.TO vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) and MicroStrategy Incorporated (MSTR). 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 | MSTR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.47 | -0.80 | +0.33 |
Sortino ratioReturn per unit of downside risk | -0.41 | -1.20 | +0.79 |
Omega ratioGain probability vs. loss probability | 0.95 | 0.87 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | -0.43 | -0.76 | +0.33 |
Martin ratioReturn relative to average drawdown | -0.91 | -1.33 | +0.42 |
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 | MSTR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.47 | -0.80 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.16 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.39 | -0.29 |
Correlation
The correlation between FBTC.TO and MSTR is 0.73, 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. MSTR - Dividend Comparison
Neither FBTC.TO nor MSTR has paid dividends to shareholders.
Drawdowns
FBTC.TO vs. MSTR - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, smaller than the maximum MSTR drawdown of -88.54%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and MSTR.
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Drawdown Indicators
| FBTC.TO | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -99.86% | +29.09% |
Max Drawdown (1Y)Largest decline over 1 year | -50.22% | -76.53% | +26.31% |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.27% | — |
Current DrawdownCurrent decline from peak | -46.48% | -73.66% | +27.18% |
Average DrawdownAverage peak-to-trough decline | -30.53% | -86.60% | +56.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.72% | 43.98% | -20.26% |
Volatility
FBTC.TO vs. MSTR - Volatility Comparison
The current volatility for Fidelity Advantage Bitcoin ETF (FBTC.TO) is 13.01%, while MicroStrategy Incorporated (MSTR) has a volatility of 18.51%. This indicates that FBTC.TO experiences smaller price fluctuations and is considered to be less risky than MSTR 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 | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.01% | 18.51% | -5.50% |
Volatility (6M)Calculated over the trailing 6-month period | 36.24% | 55.20% | -18.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.80% | 73.22% | -28.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.99% | 89.68% | -36.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.99% | 71.96% | -18.97% |