FBTC vs. SOEZ

Last updated Jul 17, 2026

FBTC (Fidelity Wise Origin Bitcoin Fund) and SOEZ (Franklin Solana ETF) are both Cryptocurrency funds. FBTC is passively managed, while SOEZ is actively managed. Their correlation of 0.90 suggests significant overlap in exposure. FBTC charges 0.25%/yr vs 0.19%/yr for SOEZ.

Performance

FBTC vs. SOEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Wise Origin Bitcoin Fund (FBTC) and Franklin Solana ETF (SOEZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBTC achieves a -26.63% return, which is significantly higher than SOEZ's -37.14% return.

FBTC

• 1D: -1.08%
• 1M: -2.10%
• 6M: -32.61%
• YTD: -26.63%
• 1Y: -46.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOEZ

• 1D: -1.74%
• 1M: 3.32%
• 6M: -44.84%
• YTD: -37.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FBTC vs. SOEZ - Yearly Performance Comparison

	2026 (YTD)	2025
FBTC Fidelity Wise Origin Bitcoin Fund	-26.63%	-3.93%
SOEZ Franklin Solana ETF	-37.14%	-11.69%

Correlation

The correlation between FBTC and SOEZ is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025	0.90

Return for Risk

FBTC vs. SOEZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FBTC

FBTC Risk / Return Rank: 2
FBTC Sharpe Ratio Rank: 1
FBTC Sortino Ratio Rank: 2
FBTC Omega Ratio Rank: 2
FBTC Calmar Ratio Rank: 2
FBTC Martin Ratio Rank: 2

SOEZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FBTC vs. SOEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and Franklin Solana ETF (SOEZ). 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	SOEZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	—	—
Sortino ratio: Return per unit of downside risk	-1.59	—	—
Omega ratio: Gain probability vs. loss probability	0.82	—	—
Calmar ratio: Return relative to maximum drawdown	-0.87	—	—
Martin ratio: Return relative to average drawdown	-1.40	—	—

Drawdowns

FBTC vs. SOEZ - Drawdown Comparison

The maximum FBTC drawdown since its inception was -53.35%, roughly equal to the maximum SOEZ drawdown of -56.14%. Use the drawdown chart below to compare losses from any high point for FBTC and SOEZ.

Drawdown Indicators

	FBTC	SOEZ	Difference
Max Drawdown Largest peak-to-trough decline	-53.35%	-56.14%	+2.79%
Max Drawdown (1Y) Largest decline over 1 year	-53.35%	—	—
Current Drawdown Current decline from peak	-48.89%	-47.18%	-1.71%
Average Drawdown Average peak-to-trough decline	-17.64%	-34.12%	+16.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.11%	—	—

Volatility

Volatility by Period

	FBTC	SOEZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	34.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.27%	70.21%	-25.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.78%	70.21%	-20.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.78%	70.21%	-20.43%

FBTC vs. SOEZ - Expense Ratio Comparison

FBTC has a 0.25% expense ratio, which is higher than SOEZ's 0.19% 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. SOEZ - Dividend Comparison

FBTC has not paid dividends to shareholders, while SOEZ's dividend yield for the trailing twelve months is around 0.87%.

Position	TTM
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%
SOEZ Franklin Solana ETF	0.87%

Frequently Asked Questions

Can I hold both FBTC and SOEZ in my portfolio?

With a correlation of 0.90, FBTC and SOEZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FBTC or SOEZ?

On fees, SOEZ is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBTC or SOEZ?

SOEZ is cheaper with a 0.19% expense ratio, compared with 0.25% for FBTC.

Which ETF pays a higher dividend yield, FBTC or SOEZ?

SOEZ has the higher dividend yield at 0.87%, compared with 0.00% for FBTC.

What is the main difference between FBTC and SOEZ?

They also come from different issuers: Fidelity and Franklin. Their fees differ too: 0.25% for FBTC and 0.19% for SOEZ.