FBTC vs. DIA
FBTC (Fidelity Wise Origin Bitcoin Fund) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Both are passively managed. Over the past year, FBTC returned -40.63% vs 21.01% for DIA. At a 0.31 correlation, their price movements are largely independent. FBTC charges 0.25%/yr vs 0.16%/yr for DIA.
Performance
FBTC vs. DIA - 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 DIA's 7.27% return.
FBTC
- 1D
- 0.11%
- 1M
- -20.13%
- YTD
- -27.39%
- 6M
- -29.64%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DIA
- 1D
- 0.73%
- 1M
- 3.26%
- YTD
- 7.27%
- 6M
- 6.43%
- 1Y
- 21.01%
- 3Y*
- 16.29%
- 5Y*
- 10.14%
- 10Y*
- 13.40%
FBTC vs. DIA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -27.39% | -6.56% | 94.28% |
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 7.27% | 14.71% | 14.80% |
Correlation
The correlation between FBTC and DIA is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.31 |
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Return for Risk
FBTC vs. DIA — Risk / Return Rank
FBTC
DIA
FBTC vs. DIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). 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 | DIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.77 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.30 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.16 | -2.94 |
| Martin ratioReturn relative to average drawdown | -1.37 | 8.35 | -9.72 |
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Drawdowns
FBTC vs. DIA - Drawdown Comparison
The maximum FBTC drawdown since its inception was -52.07%, roughly equal to the maximum DIA drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for FBTC and DIA.
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Drawdown Indicators
| FBTC | DIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.07% | -51.87% | -0.20% |
Max Drawdown (1Y)Largest decline over 1 year | -52.07% | -9.76% | -42.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.70% | — |
Current DrawdownCurrent decline from peak | -49.42% | -0.70% | -48.72% |
Average DrawdownAverage peak-to-trough decline | -16.46% | -7.14% | -9.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.61% | 2.53% | +27.08% |
Volatility
FBTC vs. DIA - Volatility Comparison
Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 11.97% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.32%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | DIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 4.32% | +7.65% |
Volatility (6M)Calculated over the trailing 6-month period | 34.39% | 9.78% | +24.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 12.52% | +31.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.13% | 14.85% | +35.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.13% | 17.56% | +32.57% |
FBTC vs. DIA - Expense Ratio Comparison
FBTC has a 0.25% expense ratio, which is higher than DIA's 0.16% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FBTC vs. DIA - Dividend Comparison
FBTC has not paid dividends to shareholders, while DIA's dividend yield for the trailing twelve months is around 1.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 1.37% | 1.43% | 1.61% | 1.81% | 1.91% | 1.58% | 1.87% | 1.85% | 2.24% | 1.97% | 2.26% | 2.33% |
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 DIA have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (11.97%) compared to DIA (4.32%). In terms of maximum drawdown, FBTC dropped -52.07% vs DIA's -51.87%.
On 1-year performance, DIA leads with 21.01% vs -40.63% for FBTC. On fees, DIA is cheaper at 0.16% per year. On volatility, DIA has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DIA has performed better with a 21.01% return vs -40.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIA is cheaper with a 0.16% expense ratio, compared with 0.25% for FBTC.
DIA has the higher dividend yield at 1.37%, compared with 0.00% for FBTC.
FBTC is categorized as Cryptocurrency, while DIA is Large Cap Blend Equities. FBTC tracks Fidelity Bitcoin Reference Rate, while DIA tracks Dow Jones Industrial Average. They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.25% for FBTC and 0.16% for DIA.
DIA currently has the higher Sharpe Ratio (1.69 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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