FBTC vs. AMAT
FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while AMAT (Applied Materials, Inc.) is a stock. Over the past year, FBTC returned -39.70% vs 234.96% for AMAT. At a 0.28 correlation, their price movements are largely independent.
Performance
FBTC vs. AMAT - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC achieves a -27.39% return, which is significantly lower than AMAT's 121.28% return.
FBTC
- 1D
- 0.11%
- 1M
- -19.60%
- YTD
- -27.39%
- 6M
- -29.64%
- 1Y
- -39.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AMAT
- 1D
- 2.64%
- 1M
- 30.08%
- YTD
- 121.28%
- 6M
- 119.38%
- 1Y
- 234.96%
- 3Y*
- 60.05%
- 5Y*
- 34.02%
- 10Y*
- 38.86%
FBTC vs. AMAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -27.39% | -6.56% | 94.28% |
AMAT Applied Materials, Inc. | 121.28% | 59.60% | 9.41% |
Correlation
The correlation between FBTC and AMAT is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.28 |
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Return for Risk
FBTC vs. AMAT — Risk / Return Rank
FBTC
AMAT
FBTC vs. AMAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and Applied Materials, Inc. (AMAT). 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 | AMAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.58 | ||
| Sortino ratioReturn per unit of downside risk | -5.43 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.59 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 10.67 | -11.45 |
| Martin ratioReturn relative to average drawdown | -1.37 | 30.41 | -31.78 |
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Drawdowns
FBTC vs. AMAT - Drawdown Comparison
The maximum FBTC drawdown since its inception was -52.07%, smaller than the maximum AMAT drawdown of -85.22%. Use the drawdown chart below to compare losses from any high point for FBTC and AMAT.
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Drawdown Indicators
| FBTC | AMAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.07% | -85.22% | +33.15% |
Max Drawdown (1Y)Largest decline over 1 year | -52.07% | -21.37% | -30.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -55.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.14% | — |
Current DrawdownCurrent decline from peak | -49.42% | 0.00% | -49.42% |
Average DrawdownAverage peak-to-trough decline | -16.46% | -38.78% | +22.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.61% | 7.49% | +22.12% |
Volatility
FBTC vs. AMAT - Volatility Comparison
The current volatility for Fidelity Wise Origin Bitcoin Fund (FBTC) is 11.97%, while Applied Materials, Inc. (AMAT) has a volatility of 20.52%. This indicates that FBTC experiences smaller price fluctuations and is considered to be less risky than AMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | AMAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 20.52% | -8.55% |
Volatility (6M)Calculated over the trailing 6-month period | 34.39% | 38.83% | -4.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 49.03% | -5.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.13% | 44.20% | +5.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.13% | 42.94% | +7.19% |
Dividends
FBTC vs. AMAT - Dividend Comparison
FBTC has not paid dividends to shareholders, while AMAT's dividend yield for the trailing twelve months is around 0.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMAT Applied Materials, Inc. | 0.34% | 0.69% | 0.93% | 0.75% | 1.05% | 0.60% | 1.01% | 1.36% | 2.14% | 0.78% | 1.24% | 2.14% |
FBTC Fidelity Wise Origin Bitcoin Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FBTC and AMAT have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMAT has higher volatility (20.52%) compared to FBTC (11.97%). In terms of maximum drawdown, FBTC dropped -52.07% vs AMAT's -85.22%.
AMAT currently has the higher Sharpe Ratio (4.65 vs -0.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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