FBTC vs. FUTY
FBTC (Fidelity Wise Origin Bitcoin Fund) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Both are passively managed. Over the past year, FBTC returned -43.65% vs 6.25% for FUTY. Their 0.15 correlation means their historical movements had little consistent relationship. FBTC charges 0.25%/yr vs 0.08%/yr for FUTY.
Performance
FBTC vs. FUTY - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC achieves a -27.08% return, which is significantly lower than FUTY's 4.95% return.
FBTC
- 1D
- 1.61%
- 1M
- 3.87%
- 6M
- -18.12%
- YTD
- -27.08%
- 1Y
- -43.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.58%
FUTY
- 1D
- 0.16%
- 1M
- -3.05%
- 6M
- 4.93%
- YTD
- 4.95%
- 1Y
- 6.25%
- 3Y*
- 14.77%
- 5Y*
- 8.93%
- 10Y*
- 9.00%
- ALL TIME*
- 10.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $185.12M | $202.75M | $237.85M | |
| $19.54M | $18.60M | $19.06M |
FBTC vs. FUTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -27.08% | -6.56% | 94.28% |
FUTY Fidelity MSCI Utilities Index ETF | 4.95% | 16.40% | 21.41% |
Correlation
The correlation between FBTC and FUTY is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.15 |
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Return for Risk
FBTC vs. FUTY — Risk / Return Rank
FBTC
FUTY
FBTC vs. FUTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and Fidelity MSCI Utilities Index ETF (FUTY). 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 | FUTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.08 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 0.70 | -1.52 |
| Martin ratioReturn relative to average drawdown | -1.26 | 1.44 | -2.70 |
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Drawdowns
FBTC vs. FUTY - Drawdown Comparison
The maximum FBTC drawdown since its inception was -53.35%, which is greater than FUTY's maximum drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for FBTC and FUTY.
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Drawdown Indicators
| FBTC | FUTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.35% | -36.44% | -16.91% |
Max Drawdown (1Y)Largest decline over 1 year | -53.35% | -8.93% | -44.42% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.96% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.44% | — |
Current DrawdownCurrent decline from peak | -49.21% | -5.67% | -43.54% |
Average DrawdownAverage peak-to-trough decline | -18.22% | -6.00% | -12.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.76% | 4.35% | +30.41% |
Volatility
FBTC vs. FUTY - Volatility Comparison
Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 8.89% compared to Fidelity MSCI Utilities Index ETF (FUTY) at 3.86%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | FUTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 3.86% | +5.03% |
Volatility (6M)Calculated over the trailing 6-month period | 33.75% | 11.84% | +21.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.38% | 14.76% | +29.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.44% | 17.09% | +32.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.44% | 19.09% | +30.35% |
FBTC vs. FUTY - Expense Ratio Comparison
FBTC has a 0.25% expense ratio, which is higher than FUTY's 0.08% 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. FUTY - Dividend Comparison
FBTC has not paid dividends to shareholders, while FUTY's dividend yield for the trailing twelve months is around 2.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FUTY Fidelity MSCI Utilities Index ETF | 2.64% | 2.67% | 2.96% | 3.31% | 2.72% | 2.70% | 3.07% | 2.82% | 3.11% | 3.03% | 3.35% | 4.33% |
Frequently Asked Questions
FBTC and FUTY have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (8.89%) compared to FUTY (3.86%). In terms of maximum drawdown, FBTC dropped -53.35% vs FUTY's -36.44%.
On 1-year performance, FUTY leads with 6.25% vs -43.65% for FBTC. On fees, FUTY is cheaper at 0.08% per year. On volatility, FUTY has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FUTY has performed better with a 6.25% return vs -43.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FUTY is cheaper with a 0.08% expense ratio, compared with 0.25% for FBTC.
FUTY has the higher dividend yield at 2.64%, compared with 0.00% for FBTC.
FBTC is categorized as Cryptocurrency, while FUTY is Utilities Equities. FBTC tracks Fidelity Bitcoin Reference Rate, while FUTY tracks MSCI USA IMI Utilities Index. Their fees differ too: 0.25% for FBTC and 0.08% for FUTY.
FUTY currently has the higher Sharpe Ratio (0.43 vs -0.99), 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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