FBTC vs. TECB
FBTC (Fidelity Wise Origin Bitcoin Fund) and TECB (iShares U.S. Tech Breakthrough Multisector ETF) are both exchange-traded funds - FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while TECB is a Technology Equities fund tracking the NYSE FactSet U.S. Tech Breakthrough Index. Both are passively managed. Over the past year, FBTC returned -39.41% vs 27.32% for TECB. At a 0.41 correlation, their price movements are largely independent. FBTC charges 0.25%/yr vs 0.40%/yr for TECB.
Performance
FBTC vs. TECB - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC achieves a -27.63% return, which is significantly lower than TECB's 14.97% return.
FBTC
- 1D
- 5.17%
- 1M
- -20.97%
- YTD
- -27.63%
- 6M
- -30.29%
- 1Y
- -39.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TECB
- 1D
- 0.52%
- 1M
- 1.69%
- YTD
- 14.97%
- 6M
- 13.40%
- 1Y
- 27.32%
- 3Y*
- 24.72%
- 5Y*
- 13.47%
- 10Y*
- —
FBTC vs. TECB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -27.63% | -6.56% | 99.56% |
TECB iShares U.S. Tech Breakthrough Multisector ETF | 14.97% | 14.86% | 22.47% |
Correlation
The correlation between FBTC and TECB is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.41 |
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Return for Risk
FBTC vs. TECB — Risk / Return Rank
FBTC
TECB
FBTC vs. TECB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares U.S. Tech Breakthrough Multisector ETF (TECB). 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 | TECB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -3.35 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.27 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 1.69 | -2.45 |
| Martin ratioReturn relative to average drawdown | -1.36 | 4.93 | -6.30 |
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 | TECB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.90 | 1.56 | -2.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.70 | -0.43 |
Drawdowns
FBTC vs. TECB - Drawdown Comparison
The maximum FBTC drawdown since its inception was -52.07%, which is greater than TECB's maximum drawdown of -41.62%. Use the drawdown chart below to compare losses from any high point for FBTC and TECB.
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Drawdown Indicators
| FBTC | TECB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.07% | -41.62% | -10.45% |
Max Drawdown (1Y)Largest decline over 1 year | -52.07% | -16.24% | -35.83% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.91% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.62% | — |
Current DrawdownCurrent decline from peak | -49.59% | -5.64% | -43.95% |
Average DrawdownAverage peak-to-trough decline | -16.18% | -10.17% | -6.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.93% | 5.55% | +23.38% |
Volatility
FBTC vs. TECB - Volatility Comparison
Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 11.77% compared to iShares U.S. Tech Breakthrough Multisector ETF (TECB) at 7.20%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than TECB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | TECB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.77% | 7.20% | +4.57% |
Volatility (6M)Calculated over the trailing 6-month period | 34.55% | 14.03% | +20.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.17% | 17.68% | +26.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 23.59% | +26.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 25.42% | +24.84% |
FBTC vs. TECB - Expense Ratio Comparison
FBTC has a 0.25% expense ratio, which is lower than TECB's 0.40% expense ratio.
Dividends
FBTC vs. TECB - Dividend Comparison
FBTC has not paid dividends to shareholders, while TECB's dividend yield for the trailing twelve months is around 0.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECB iShares U.S. Tech Breakthrough Multisector ETF | 0.29% | 0.33% | 0.35% | 0.23% | 0.61% | 0.35% | 0.77% |
Frequently Asked Questions
FBTC and TECB have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (11.77%) compared to TECB (7.20%). In terms of maximum drawdown, FBTC dropped -52.07% vs TECB's -41.62%.
On 1-year performance, TECB leads with 27.32% vs -39.41% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, TECB has been the lower-risk option at 7.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TECB has performed better with a 27.32% return vs -39.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBTC is cheaper with a 0.25% expense ratio, compared with 0.40% for TECB.
TECB has the higher dividend yield at 0.29%, compared with 0.00% for FBTC.
FBTC is categorized as Cryptocurrency, while TECB is Technology Equities. FBTC tracks Fidelity Bitcoin Reference Rate, while TECB tracks NYSE FactSet U.S. Tech Breakthrough Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.25% for FBTC and 0.40% for TECB.
TECB currently has the higher Sharpe Ratio (1.56 vs -0.90), 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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