FBTC vs. VFV.TO

Last updated Jun 13, 2026

FBTC (Fidelity Wise Origin Bitcoin Fund) and VFV.TO (Vanguard S&P 500 Index ETF) are both exchange-traded funds - FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while VFV.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, FBTC returned -40.63% vs 24.69% for VFV.TO. At a 0.28 correlation, their price movements are largely independent. FBTC charges 0.25%/yr vs 0.09%/yr for VFV.TO.

Performance

FBTC vs. VFV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Wise Origin Bitcoin Fund (FBTC) and Vanguard S&P 500 Index ETF (VFV.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FBTC is traded in USD, while VFV.TO is traded in CAD. To make them comparable, the VFV.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FBTC achieves a -27.39% return, which is significantly lower than VFV.TO's 8.81% return.

FBTC

• 1D: 0.11%
• 1M: -20.13%
• YTD: -27.39%
• 6M: -29.64%
• 1Y: -40.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VFV.TO

• 1D: 0.51%
• 1M: -0.09%
• YTD: 8.81%
• 6M: 9.33%
• 1Y: 24.69%
• 3Y*: 20.80%
• 5Y*: 13.00%
• 10Y*: 15.13%

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

FBTC vs. VFV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBTC Fidelity Wise Origin Bitcoin Fund	-27.39%	-6.56%	94.28%
VFV.TO Vanguard S&P 500 Index ETF	8.75%	17.55%	24.68%

Correlation

The correlation between FBTC and VFV.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.28

Return for Risk

FBTC vs. VFV.TO — Risk / Return Rank

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

FBTC

FBTC Risk / Return Rank: 3
FBTC Sharpe Ratio Rank: 2
FBTC Sortino Ratio Rank: 3
FBTC Omega Ratio Rank: 3
FBTC Calmar Ratio Rank: 3
FBTC Martin Ratio Rank: 2

VFV.TO

VFV.TO Risk / Return Rank: 79
VFV.TO Sharpe Ratio Rank: 84
VFV.TO Sortino Ratio Rank: 81
VFV.TO Omega Ratio Rank: 83
VFV.TO Calmar Ratio Rank: 73
VFV.TO Martin Ratio Rank: 74

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. VFV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and Vanguard S&P 500 Index ETF (VFV.TO). 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	VFV.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	1.94	-2.86
Sortino ratio: Return per unit of downside risk	-1.31	2.63	-3.94
Omega ratio: Gain probability vs. loss probability	0.85	1.36	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.78	2.74	-3.53
Martin ratio: Return relative to average drawdown	-1.37	11.87	-13.25

FBTC vs. VFV.TO - Sharpe Ratio Comparison

The current FBTC Sharpe Ratio is -0.93, which is lower than the VFV.TO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of FBTC and VFV.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FBTC vs. VFV.TO - Drawdown Comparison

The maximum FBTC drawdown since its inception was -52.07%, which is greater than VFV.TO's maximum drawdown of -33.56%. Use the drawdown chart below to compare losses from any high point for FBTC and VFV.TO.

Drawdown Indicators

	FBTC	VFV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-52.07%	-33.56%	-18.51%
Max Drawdown (1Y) Largest decline over 1 year	-52.07%	-9.04%	-43.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.33%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-49.42%	-2.43%	-46.99%
Average Drawdown Average peak-to-trough decline	-16.46%	-3.85%	-12.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.61%	2.08%	+27.53%

Volatility

FBTC vs. VFV.TO - Volatility Comparison

Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 11.97% compared to Vanguard S&P 500 Index ETF (VFV.TO) at 4.51%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than VFV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBTC	VFV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.97%	4.51%	+7.46%
Volatility (6M) Calculated over the trailing 6-month period	34.39%	9.72%	+24.67%
Volatility (1Y) Calculated over the trailing 1-year period	43.98%	12.80%	+31.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.13%	16.10%	+34.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.13%	17.73%	+32.40%

FBTC vs. VFV.TO - Expense Ratio Comparison

FBTC has a 0.25% expense ratio, which is higher than VFV.TO's 0.09% 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. VFV.TO - Dividend Comparison

FBTC has not paid dividends to shareholders, while VFV.TO's dividend yield for the trailing twelve months is around 0.84%.

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%
VFV.TO Vanguard S&P 500 Index ETF	0.84%	0.92%	0.99%	1.20%	1.31%	1.06%	1.33%	1.55%	1.69%	1.51%	1.65%	1.63%

Frequently Asked Questions

Can I hold both FBTC and VFV.TO in my portfolio?

FBTC and VFV.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBTC or VFV.TO?

On fees, VFV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBTC or VFV.TO?

VFV.TO is cheaper with a 0.09% expense ratio, compared with 0.25% for FBTC.

What is the main difference between FBTC and VFV.TO?

FBTC is categorized as Cryptocurrency, while VFV.TO is S&P 500. FBTC tracks Fidelity Bitcoin Reference Rate, while VFV.TO tracks S&P 500 Index. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.25% for FBTC and 0.09% for VFV.TO.