FBTC vs. BITS
Compare and contrast key facts about Fidelity Wise Origin Bitcoin Trust (FBTC) and Global X Blockchain & Bitcoin Strategy ETF (BITS).
FBTC and BITS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FBTC is a passively managed fund by Fidelity that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 11, 2024. BITS is a passively managed fund by Global X that tracks the performance of the NONE. It was launched on Nov 15, 2021. Both FBTC and BITS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FBTC vs. BITS - Performance Comparison
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FBTC vs. BITS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Trust | -22.56% | -6.56% | 99.56% |
BITS Global X Blockchain & Bitcoin Strategy ETF | -17.84% | 14.90% | 62.06% |
Returns By Period
In the year-to-date period, FBTC achieves a -22.56% return, which is significantly lower than BITS's -17.84% return.
FBTC
- 1D
- 1.97%
- 1M
- 3.29%
- YTD
- -22.56%
- 6M
- -40.86%
- 1Y
- -17.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITS
- 1D
- 4.79%
- 1M
- -4.40%
- YTD
- -17.84%
- 6M
- -35.16%
- 1Y
- 24.71%
- 3Y*
- 40.54%
- 5Y*
- —
- 10Y*
- —
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FBTC vs. BITS - Expense Ratio Comparison
FBTC has a 0.25% expense ratio, which is lower than BITS's 0.65% expense ratio.
Return for Risk
FBTC vs. BITS — Risk / Return Rank
FBTC
BITS
FBTC vs. BITS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Trust (FBTC) and Global X Blockchain & Bitcoin Strategy ETF (BITS). 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 | BITS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | 0.46 | -0.85 |
Sortino ratioReturn per unit of downside risk | -0.29 | 0.99 | -1.28 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.11 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | -0.39 | 0.44 | -0.83 |
Martin ratioReturn relative to average drawdown | -0.84 | 0.97 | -1.80 |
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 | BITS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 0.46 | -0.85 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | -0.07 | +0.42 |
Correlation
The correlation between FBTC and BITS is 0.88, 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 vs. BITS - Dividend Comparison
FBTC has not paid dividends to shareholders, while BITS's dividend yield for the trailing twelve months is around 27.75%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BITS Global X Blockchain & Bitcoin Strategy ETF | 27.75% | 22.80% | 29.49% | 13.69% | 0.48% | 1.90% |
Drawdowns
FBTC vs. BITS - Drawdown Comparison
The maximum FBTC drawdown since its inception was -49.33%, smaller than the maximum BITS drawdown of -83.11%. Use the drawdown chart below to compare losses from any high point for FBTC and BITS.
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Drawdown Indicators
| FBTC | BITS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -83.11% | +33.78% |
Max Drawdown (1Y)Largest decline over 1 year | -49.33% | -48.38% | -0.95% |
Current DrawdownCurrent decline from peak | -46.06% | -45.91% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -14.12% | -43.20% | +29.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.05% | 21.91% | +1.14% |
Volatility
FBTC vs. BITS - Volatility Comparison
The current volatility for Fidelity Wise Origin Bitcoin Trust (FBTC) is 12.97%, while Global X Blockchain & Bitcoin Strategy ETF (BITS) has a volatility of 17.70%. This indicates that FBTC experiences smaller price fluctuations and is considered to be less risky than BITS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | BITS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.97% | 17.70% | -4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 36.77% | 43.68% | -6.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.30% | 54.59% | -9.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.21% | 61.52% | -10.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.21% | 61.52% | -10.31% |