FBTC vs. RBIL
FBTC (Fidelity Wise Origin Bitcoin Fund) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. Both are passively managed. Over the past year, FBTC returned -43.10% vs 3.81% for RBIL. Their -0.08 correlation means they have often moved in opposite directions in the past. FBTC charges 0.25%/yr vs 0.17%/yr for RBIL.
Performance
FBTC vs. RBIL - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC achieves a -25.99% return, which is significantly lower than RBIL's 2.61% return.
FBTC
- 1D
- 0.95%
- 1M
- 1.79%
- 6M
- -11.71%
- YTD
- -25.99%
- 1Y
- -43.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.20%
RBIL
- 1D
- -0.03%
- 1M
- 0.18%
- 6M
- 2.25%
- YTD
- 2.61%
- 1Y
- 3.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $188.68M | $190.65M | $235.91M | |
| $1.19M | $1.87M | $2.26M |
FBTC vs. RBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -25.99% | -7.10% |
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF | 2.61% | 2.85% |
Correlation
The correlation between FBTC and RBIL is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025 | -0.08 |
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Return for Risk
FBTC vs. RBIL — Risk / Return Rank
FBTC
RBIL
FBTC vs. RBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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 | RBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.95 | ||
| Sortino ratioReturn per unit of downside risk | -7.54 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 2.00 | -1.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 6.80 | -7.61 |
| Martin ratioReturn relative to average drawdown | -1.23 | 27.52 | -28.75 |
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Drawdowns
FBTC vs. RBIL - Drawdown Comparison
The maximum FBTC drawdown since its inception was -53.35%, which is greater than RBIL's maximum drawdown of -0.56%. Use the drawdown chart below to compare losses from any high point for FBTC and RBIL.
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Drawdown Indicators
| FBTC | RBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.35% | -0.56% | -52.79% |
Max Drawdown (1Y)Largest decline over 1 year | -53.35% | -0.56% | -52.79% |
Current DrawdownCurrent decline from peak | -48.45% | -0.22% | -48.23% |
Average DrawdownAverage peak-to-trough decline | -18.31% | -0.08% | -18.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.03% | 0.14% | +34.89% |
Volatility
FBTC vs. RBIL - Volatility Comparison
Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 8.24% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.28%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | RBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.24% | 0.28% | +7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 32.97% | 0.89% | +32.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.28% | 0.96% | +43.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.36% | 1.06% | +48.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.36% | 1.06% | +48.30% |
FBTC vs. RBIL - Expense Ratio Comparison
FBTC has a 0.25% expense ratio, which is higher than RBIL's 0.17% 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. RBIL - Dividend Comparison
FBTC has not paid dividends to shareholders, while RBIL's dividend yield for the trailing twelve months is around 4.16%.
| Position | TTM | 2025 |
|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | 0.00% | 0.00% |
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF | 4.16% | 3.65% |
Frequently Asked Questions
FBTC and RBIL have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (8.24%) compared to RBIL (0.28%). In terms of maximum drawdown, FBTC dropped -53.35% vs RBIL's -0.56%.
On 1-year performance, RBIL leads with 3.81% vs -43.10% for FBTC. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RBIL has performed better with a 3.81% return vs -43.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RBIL is cheaper with a 0.17% expense ratio, compared with 0.25% for FBTC.
RBIL has the higher dividend yield at 4.16%, compared with 0.00% for FBTC.
FBTC is categorized as Cryptocurrency, while RBIL is Inflation-Protected Bonds. FBTC tracks Fidelity Bitcoin Reference Rate, while RBIL tracks Bloomberg US Ultrashort TIPS 1-13 Months Index. They also come from different issuers: Fidelity and F/m. Their fees differ too: 0.25% for FBTC and 0.17% for RBIL.
RBIL currently has the higher Sharpe Ratio (3.98 vs -0.98), 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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