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FBTC.TO vs. MSTR
Performance
Return for Risk
Dividends
Drawdowns
Volatility

Performance

FBTC.TO vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Advantage Bitcoin ETF (FBTC.TO) and MicroStrategy Incorporated (MSTR). The values are adjusted to include any dividend payments, if applicable.

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FBTC.TO vs. MSTR - Yearly Performance Comparison


2026 (YTD)20252024202320222021
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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Return for Risk

FBTC.TO vs. MSTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FBTC.TO
FBTC.TO Risk / Return Rank: 55
Overall Rank
FBTC.TO Sharpe Ratio Rank: 44
Sharpe Ratio Rank
FBTC.TO Sortino Ratio Rank: 55
Sortino Ratio Rank
FBTC.TO Omega Ratio Rank: 55
Omega Ratio Rank
FBTC.TO Calmar Ratio Rank: 55
Calmar Ratio Rank
FBTC.TO Martin Ratio Rank: 55
Martin Ratio Rank

MSTR
MSTR Risk / Return Rank: 1313
Overall Rank
MSTR Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
MSTR Sortino Ratio Rank: 1010
Sortino Ratio Rank
MSTR Omega Ratio Rank: 1212
Omega Ratio Rank
MSTR Calmar Ratio Rank: 1616
Calmar Ratio Rank
MSTR Martin Ratio Rank: 1717
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.TOMSTRDifference

Sharpe ratio

Return per unit of total volatility

-0.47

-0.80

+0.33

Sortino ratio

Return per unit of downside risk

-0.41

-1.20

+0.79

Omega ratio

Gain probability vs. loss probability

0.95

0.87

+0.09

Calmar ratio

Return relative to maximum drawdown

-0.43

-0.76

+0.33

Martin ratio

Return relative to average drawdown

-0.91

-1.33

+0.42

FBTC.TO vs. MSTR - Sharpe Ratio Comparison

The current FBTC.TO Sharpe Ratio is -0.47, which is higher than the MSTR Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of FBTC.TO and MSTR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Sharpe Ratios by Period


FBTC.TOMSTRDifference

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.


Tickers have no history of dividend payments

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.TOMSTRDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-46.48%

-73.66%

+27.18%

Average Drawdown

Average peak-to-trough decline

-30.53%

-86.60%

+56.07%

Ulcer Index

Depth 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.TOMSTRDifference

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%