FBTC.TO vs. WGMI
FBTC.TO (Fidelity Advantage Bitcoin ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, FBTC.TO returned 34.59%/yr vs 88.34%/yr for WGMI. A 0.62 correlation means they provide meaningful diversification when combined. FBTC.TO charges 0.40%/yr vs 0.75%/yr for WGMI.
Performance
FBTC.TO vs. WGMI - Performance Comparison
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Different Trading Currencies
FBTC.TO is traded in CAD, while WGMI is traded in USD. To make them comparable, the WGMI 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 -24.39% return, which is significantly lower than WGMI's 87.13% return.
FBTC.TO
- 1D
- -2.22%
- 1M
- -16.83%
- YTD
- -24.39%
- 6M
- -30.03%
- 1Y
- -37.95%
- 3Y*
- 34.59%
- 5Y*
- —
- 10Y*
- —
WGMI
- 1D
- -0.71%
- 1M
- 42.83%
- YTD
- 87.13%
- 6M
- 54.92%
- 1Y
- 299.71%
- 3Y*
- 88.34%
- 5Y*
- —
- 10Y*
- —
FBTC.TO vs. WGMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | -24.39% | -10.85% | 137.16% | 145.80% | -59.14% |
WGMI Valkyrie Bitcoin Miners ETF | 87.13% | 64.55% | 34.15% | 295.18% | -82.38% |
Correlation
The correlation between FBTC.TO and WGMI is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022 | 0.62 |
The correlation between FBTC.TO and WGMI shifts across timeframes, from 0.52 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FBTC.TO vs. WGMI — Risk / Return Rank
FBTC.TO
WGMI
FBTC.TO vs. WGMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advantage Bitcoin ETF (FBTC.TO) and Valkyrie Bitcoin Miners ETF (WGMI). 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 | WGMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.90 | ||
| Sortino ratioReturn per unit of downside risk | -4.76 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.43 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 5.88 | -6.64 |
| Martin ratioReturn relative to average drawdown | -1.30 | 11.62 | -12.92 |
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 | WGMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | 4.01 | -4.90 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.35 | -0.27 |
Drawdowns
FBTC.TO vs. WGMI - Drawdown Comparison
The maximum FBTC.TO drawdown since its inception was -70.77%, smaller than the maximum WGMI drawdown of -84.71%. Use the drawdown chart below to compare losses from any high point for FBTC.TO and WGMI.
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Drawdown Indicators
| FBTC.TO | WGMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.77% | -84.71% | +13.94% |
Max Drawdown (1Y)Largest decline over 1 year | -50.22% | -51.35% | +1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -50.22% | -62.81% | +12.59% |
Current DrawdownCurrent decline from peak | -48.38% | -0.71% | -47.67% |
Average DrawdownAverage peak-to-trough decline | -30.94% | -41.52% | +10.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.18% | 25.93% | +3.25% |
Volatility
FBTC.TO vs. WGMI - Volatility Comparison
The current volatility for Fidelity Advantage Bitcoin ETF (FBTC.TO) is 9.72%, while Valkyrie Bitcoin Miners ETF (WGMI) has a volatility of 20.02%. This indicates that FBTC.TO experiences smaller price fluctuations and is considered to be less risky than WGMI 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 | WGMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.72% | 20.02% | -10.30% |
Volatility (6M)Calculated over the trailing 6-month period | 33.63% | 55.12% | -21.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.84% | 75.36% | -32.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.37% | 79.82% | -27.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.37% | 79.82% | -27.45% |
FBTC.TO vs. WGMI - Expense Ratio Comparison
FBTC.TO has a 0.40% expense ratio, which is lower than WGMI's 0.75% expense ratio.
Dividends
FBTC.TO vs. WGMI - Dividend Comparison
Neither FBTC.TO nor WGMI has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FBTC.TO Fidelity Advantage Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% |
WGMI Valkyrie Bitcoin Miners ETF | 0.00% | 0.00% | 0.22% | 0.31% |
Frequently Asked Questions
FBTC.TO and WGMI have a correlation of 0.52, 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 WGMI.
They also come from different issuers: Fidelity and Valkyrie. Their fees differ too: 0.40% for FBTC.TO and 0.75% for WGMI.
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