FBTC vs. FBND
Compare and contrast key facts about Fidelity Wise Origin Bitcoin Trust (FBTC) and Fidelity Total Bond ETF (FBND).
FBTC and FBND 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. FBND is an actively managed fund by Fidelity. It was launched on Oct 6, 2014.
Performance
FBTC vs. FBND - Performance Comparison
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FBTC vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Trust | -22.13% | -6.56% | 99.56% |
FBND Fidelity Total Bond ETF | 0.12% | 7.57% | 2.64% |
Returns By Period
In the year-to-date period, FBTC achieves a -22.13% return, which is significantly lower than FBND's 0.12% return.
FBTC
- 1D
- 0.56%
- 1M
- -1.49%
- YTD
- -22.13%
- 6M
- -42.09%
- 1Y
- -20.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBND
- 1D
- -0.02%
- 1M
- -1.32%
- YTD
- 0.12%
- 6M
- 0.77%
- 1Y
- 4.53%
- 3Y*
- 4.42%
- 5Y*
- 1.01%
- 10Y*
- 2.78%
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FBTC vs. FBND - Expense Ratio Comparison
FBTC has a 0.25% expense ratio, which is lower than FBND's 0.36% expense ratio.
Return for Risk
FBTC vs. FBND — Risk / Return Rank
FBTC
FBND
FBTC vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Trust (FBTC) and Fidelity Total Bond ETF (FBND). 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 | FBND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.44 | 1.03 | -1.47 |
Sortino ratioReturn per unit of downside risk | -0.37 | 1.44 | -1.81 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.18 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | -0.36 | 1.69 | -2.05 |
Martin ratioReturn relative to average drawdown | -0.75 | 5.25 | -6.01 |
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 | FBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 1.03 | -1.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.17 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.44 | -0.08 |
Correlation
The correlation between FBTC and FBND is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FBTC vs. FBND - Dividend Comparison
FBTC has not paid dividends to shareholders, while FBND's dividend yield for the trailing twelve months is around 4.73%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FBND Fidelity Total Bond ETF | 4.73% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
Drawdowns
FBTC vs. FBND - Drawdown Comparison
The maximum FBTC drawdown since its inception was -49.33%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for FBTC and FBND.
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Drawdown Indicators
| FBTC | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -17.25% | -32.08% |
Max Drawdown (1Y)Largest decline over 1 year | -49.33% | -2.79% | -46.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.25% | — |
Current DrawdownCurrent decline from peak | -45.76% | -1.80% | -43.96% |
Average DrawdownAverage peak-to-trough decline | -14.18% | -3.38% | -10.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.23% | 0.90% | +22.33% |
Volatility
FBTC vs. FBND - Volatility Comparison
Fidelity Wise Origin Bitcoin Trust (FBTC) has a higher volatility of 12.91% compared to Fidelity Total Bond ETF (FBND) at 1.66%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.91% | 1.66% | +11.25% |
Volatility (6M)Calculated over the trailing 6-month period | 36.78% | 2.62% | +34.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.27% | 4.44% | +40.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.16% | 5.90% | +45.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.16% | 6.08% | +45.08% |