FBTC vs. HODL
Compare and contrast key facts about Fidelity Wise Origin Bitcoin Trust (FBTC) and VanEck Bitcoin Trust (HODL).
FBTC and HODL 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. HODL is a passively managed fund by VanEck that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 4, 2024. Both FBTC and HODL 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. HODL - Performance Comparison
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FBTC vs. HODL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Trust | -22.56% | -6.56% | 99.56% |
HODL VanEck Bitcoin Trust | -22.52% | -6.42% | 99.75% |
Returns By Period
The year-to-date returns for both investments are quite close, with FBTC having a -22.56% return and HODL slightly higher at -22.52%.
FBTC
- 1D
- 1.97%
- 1M
- 3.29%
- YTD
- -22.56%
- 6M
- -40.86%
- 1Y
- -17.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HODL
- 1D
- 1.86%
- 1M
- 3.29%
- YTD
- -22.52%
- 6M
- -40.81%
- 1Y
- -17.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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FBTC vs. HODL - Expense Ratio Comparison
Both FBTC and HODL have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
FBTC vs. HODL — Risk / Return Rank
FBTC
HODL
FBTC vs. HODL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Trust (FBTC) and VanEck Bitcoin Trust (HODL). 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 | HODL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | -0.40 | 0.00 |
Sortino ratioReturn per unit of downside risk | -0.29 | -0.29 | 0.00 |
Omega ratioGain probability vs. loss probability | 0.97 | 0.97 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | -0.39 | -0.39 | 0.00 |
Martin ratioReturn relative to average drawdown | -0.84 | -0.83 | -0.01 |
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 | HODL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | -0.40 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.36 | -0.01 |
Correlation
The correlation between FBTC and HODL is 1.00, 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. HODL - Dividend Comparison
Neither FBTC nor HODL has paid dividends to shareholders.
Drawdowns
FBTC vs. HODL - Drawdown Comparison
The maximum FBTC drawdown since its inception was -49.33%, roughly equal to the maximum HODL drawdown of -49.25%. Use the drawdown chart below to compare losses from any high point for FBTC and HODL.
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Drawdown Indicators
| FBTC | HODL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -49.25% | -0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -49.33% | -49.25% | -0.08% |
Current DrawdownCurrent decline from peak | -46.06% | -46.01% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -14.12% | -14.09% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.05% | 23.02% | +0.03% |
Volatility
FBTC vs. HODL - Volatility Comparison
Fidelity Wise Origin Bitcoin Trust (FBTC) and VanEck Bitcoin Trust (HODL) have volatilities of 12.97% and 13.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | HODL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.97% | 13.04% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 36.77% | 36.71% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.30% | 45.09% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.21% | 50.94% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.21% | 50.94% | +0.27% |