FBTC vs. TSM
FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock. Over the past year, FBTC returned -40.63% vs 98.93% for TSM. At a 0.28 correlation, their price movements are largely independent.
Performance
FBTC vs. TSM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FBTC achieves a -27.39% return, which is significantly lower than TSM's 40.22% return.
FBTC
- 1D
- 0.11%
- 1M
- -20.13%
- YTD
- -27.39%
- 6M
- -29.64%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSM
- 1D
- 0.68%
- 1M
- 6.28%
- YTD
- 40.22%
- 6M
- 45.91%
- 1Y
- 98.93%
- 3Y*
- 60.80%
- 5Y*
- 31.30%
- 10Y*
- 35.80%
FBTC vs. TSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -27.39% | -6.56% | 94.28% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 40.22% | 55.91% | 98.70% |
Correlation
The correlation between FBTC and TSM is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.28 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FBTC vs. TSM — Risk / Return Rank
FBTC
TSM
FBTC vs. TSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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 | TSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.64 | ||
| Sortino ratioReturn per unit of downside risk | -4.61 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.40 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 5.48 | -6.27 |
| Martin ratioReturn relative to average drawdown | -1.37 | 19.42 | -20.80 |
Loading charts...
Drawdowns
FBTC vs. TSM - Drawdown Comparison
The maximum FBTC drawdown since its inception was -52.07%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for FBTC and TSM.
Loading charts...
Drawdown Indicators
| FBTC | TSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.07% | -89.08% | +37.01% |
Max Drawdown (1Y)Largest decline over 1 year | -52.07% | -18.14% | -33.93% |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.82% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -56.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.47% | — |
Current DrawdownCurrent decline from peak | -49.42% | -4.87% | -44.55% |
Average DrawdownAverage peak-to-trough decline | -16.46% | -42.85% | +26.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.61% | 5.11% | +24.50% |
Volatility
FBTC vs. TSM - Volatility Comparison
The current volatility for Fidelity Wise Origin Bitcoin Fund (FBTC) is 11.97%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 13.42%. This indicates that FBTC experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FBTC | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 13.42% | -1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 34.39% | 28.65% | +5.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 36.69% | +7.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.13% | 37.46% | +12.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.13% | 34.23% | +15.90% |
Dividends
FBTC vs. TSM - Dividend Comparison
FBTC has not paid dividends to shareholders, while TSM's dividend yield for the trailing twelve months is around 0.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.83% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Frequently Asked Questions
FBTC and TSM have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (13.42%) compared to FBTC (11.97%). In terms of maximum drawdown, FBTC dropped -52.07% vs TSM's -89.08%.
TSM currently has the higher Sharpe Ratio (2.71 vs -0.93), 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.
Find the right allocation for FBTC and TSM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer