FBTC vs. BFOC

Last updated Aug 4, 2026

FBTC (Fidelity Wise Origin Bitcoin Fund) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while BFOC is a Defined Outcome fund actively managed by First Trust. FBTC is passively managed, while BFOC is actively managed. Their correlation of 0.86 means they have usually moved in the same direction. FBTC charges 0.25%/yr vs 0.90%/yr for BFOC.

Performance

FBTC vs. BFOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Wise Origin Bitcoin Fund (FBTC) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBTC achieves a -27.08% return, which is significantly lower than BFOC's -6.79% return.

FBTC

• 1D: 1.61%
• 1M: 3.87%
• 6M: -18.12%
• YTD: -27.08%
• 1Y: -43.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.58%

BFOC

• 1D: 0.73%
• 1M: 0.12%
• 6M: -4.12%
• YTD: -6.79%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	$40.00K	$49.38K	$63.64K
FBTC Fidelity Wise Origin Bitcoin Fund	$185.12M	$202.75M	$237.85M

FBTC vs. BFOC - Yearly Performance Comparison

	2026 (YTD)	2025
FBTC Fidelity Wise Origin Bitcoin Fund	-27.08%	-23.62%
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	-6.79%	-9.75%

Correlation

The correlation between FBTC and BFOC is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.86

Return for Risk

FBTC vs. BFOC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FBTC

FBTC Risk / Return Rank: 2
FBTC Sharpe Ratio Rank: 2
FBTC Sortino Ratio Rank: 2
FBTC Omega Ratio Rank: 2
FBTC Calmar Ratio Rank: 2
FBTC Martin Ratio Rank: 3

BFOC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FBTC vs. BFOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). 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	BFOC	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	—	—
Sortino ratio: Return per unit of downside risk	-1.45	—	—
Omega ratio: Gain probability vs. loss probability	0.84	—	—
Calmar ratio: Return relative to maximum drawdown	-0.82	—	—
Martin ratio: Return relative to average drawdown	-1.26	—	—

Drawdowns

FBTC vs. BFOC - Drawdown Comparison

The maximum FBTC drawdown since its inception was -53.35%, which is greater than BFOC's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for FBTC and BFOC.

Drawdown Indicators

	FBTC	BFOC	Difference
Max Drawdown Largest peak-to-trough decline	-53.35%	-18.41%	-34.94%
Max Drawdown (1Y) Largest decline over 1 year	-53.35%	—	—
Current Drawdown Current decline from peak	-49.21%	-17.67%	-31.54%
Average Drawdown Average peak-to-trough decline	-18.22%	-13.52%	-4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.76%	—	—

Volatility

Volatility by Period

	FBTC	BFOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.38%	11.69%	+32.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.44%	11.69%	+37.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.44%	11.69%	+37.75%

FBTC vs. BFOC - Expense Ratio Comparison

FBTC has a 0.25% expense ratio, which is lower than BFOC's 0.90% expense ratio.

Dividends

FBTC vs. BFOC - Dividend Comparison

Neither FBTC nor BFOC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FBTC and BFOC in my portfolio?

FBTC and BFOC have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBTC or BFOC?

On fees, FBTC is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBTC or BFOC?

FBTC is cheaper with a 0.25% expense ratio, compared with 0.90% for BFOC.

Which ETF pays a higher dividend yield, FBTC or BFOC?

FBTC and BFOC have nearly identical dividend yields, around 0.00%.

What is the main difference between FBTC and BFOC?

FBTC is categorized as Cryptocurrency, while BFOC is Defined Outcome. They also come from different issuers: Fidelity and First Trust. Their fees differ too: 0.25% for FBTC and 0.90% for BFOC.