FBTC vs. QQQ
Compare and contrast key facts about Fidelity Wise Origin Bitcoin Trust (FBTC) and Invesco QQQ ETF (QQQ).
FBTC and QQQ 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. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both FBTC and QQQ 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. QQQ - Performance Comparison
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FBTC vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Trust | -22.56% | -6.56% | 99.56% |
QQQ Invesco QQQ ETF | -5.93% | 20.77% | 25.63% |
Returns By Period
In the year-to-date period, FBTC achieves a -22.56% return, which is significantly lower than QQQ's -5.93% return.
FBTC
- 1D
- 1.97%
- 1M
- 3.29%
- YTD
- -22.56%
- 6M
- -40.86%
- 1Y
- -17.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQ
- 1D
- 3.39%
- 1M
- -4.84%
- YTD
- -5.93%
- 6M
- -3.62%
- 1Y
- 23.68%
- 3Y*
- 22.32%
- 5Y*
- 12.88%
- 10Y*
- 18.85%
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FBTC vs. QQQ - Expense Ratio Comparison
FBTC has a 0.25% expense ratio, which is higher than QQQ's 0.18% 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%.
Return for Risk
FBTC vs. QQQ — Risk / Return Rank
FBTC
QQQ
FBTC vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Trust (FBTC) and Invesco QQQ ETF (QQQ). 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 | QQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | 1.05 | -1.45 |
Sortino ratioReturn per unit of downside risk | -0.29 | 1.63 | -1.92 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.23 | -0.27 |
Calmar ratioReturn relative to maximum drawdown | -0.39 | 1.88 | -2.27 |
Martin ratioReturn relative to average drawdown | -0.84 | 6.95 | -7.79 |
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 | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 1.05 | -1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.37 | -0.02 |
Correlation
The correlation between FBTC and QQQ is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FBTC vs. QQQ - Dividend Comparison
FBTC has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.49%.
| 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% |
QQQ Invesco QQQ ETF | 0.49% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Drawdowns
FBTC vs. QQQ - Drawdown Comparison
The maximum FBTC drawdown since its inception was -49.33%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FBTC and QQQ.
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Drawdown Indicators
| FBTC | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -82.97% | +33.64% |
Max Drawdown (1Y)Largest decline over 1 year | -49.33% | -12.62% | -36.71% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | -46.06% | -8.98% | -37.08% |
Average DrawdownAverage peak-to-trough decline | -14.12% | -32.99% | +18.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.05% | 3.41% | +19.64% |
Volatility
FBTC vs. QQQ - Volatility Comparison
Fidelity Wise Origin Bitcoin Trust (FBTC) has a higher volatility of 12.97% compared to Invesco QQQ ETF (QQQ) at 6.51%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.97% | 6.51% | +6.46% |
Volatility (6M)Calculated over the trailing 6-month period | 36.77% | 12.77% | +24.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.30% | 22.67% | +22.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.21% | 22.39% | +28.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.21% | 22.25% | +28.96% |