FBTC vs. VOO
FBTC (Fidelity Wise Origin Bitcoin Fund) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - FBTC is a Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, FBTC returned -45.25% vs 17.35% for VOO. Their 0.41 correlation means their historical movements had little consistent relationship. FBTC charges 0.25%/yr vs 0.03%/yr for VOO.
Performance
FBTC vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC achieves a -26.76% return, which is significantly lower than VOO's 8.95% return.
FBTC
- 1D
- -0.99%
- 1M
- 7.41%
- 6M
- -28.35%
- YTD
- -26.76%
- 1Y
- -45.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.91%
VOO
- 1D
- 0.08%
- 1M
- 0.80%
- 6M
- 7.80%
- YTD
- 8.95%
- 1Y
- 17.35%
- 3Y*
- 19.06%
- 5Y*
- 12.51%
- 10Y*
- 14.95%
- ALL TIME*
- 14.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $195.79M | $219.07M | $240.27M | |
| $3.42B | $4.58B | $5.39B |
FBTC vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -26.76% | -6.56% | 94.28% |
VOO Vanguard S&P 500 ETF | 8.95% | 17.82% | 24.65% |
Correlation
The correlation between FBTC and VOO is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.41 |
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Return for Risk
FBTC vs. VOO — Risk / Return Rank
FBTC
VOO
FBTC vs. VOO - 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 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -3.57 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.26 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 2.01 | -2.88 |
| Martin ratioReturn relative to average drawdown | -1.36 | 8.67 | -10.03 |
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Drawdowns
FBTC vs. VOO - Drawdown Comparison
The maximum FBTC drawdown since its inception was -53.35%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FBTC and VOO.
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Drawdown Indicators
| FBTC | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.35% | -33.99% | -19.36% |
Max Drawdown (1Y)Largest decline over 1 year | -53.35% | -8.90% | -44.45% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.52% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.99% | — |
Current DrawdownCurrent decline from peak | -48.99% | -2.45% | -46.54% |
Average DrawdownAverage peak-to-trough decline | -17.93% | -3.67% | -14.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.93% | 2.06% | +31.87% |
Volatility
FBTC vs. VOO - Volatility Comparison
Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 8.95% compared to Vanguard S&P 500 ETF (VOO) at 3.22%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 3.22% | +5.73% |
Volatility (6M)Calculated over the trailing 6-month period | 34.06% | 9.84% | +24.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.23% | 12.62% | +31.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.59% | 16.90% | +32.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.59% | 18.00% | +31.59% |
FBTC vs. VOO - Expense Ratio Comparison
FBTC has a 0.25% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison
FBTC has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.08%.
| 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% |
VOO Vanguard S&P 500 ETF | 1.08% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
FBTC and VOO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (8.95%) compared to VOO (3.22%). In terms of maximum drawdown, FBTC dropped -53.35% vs VOO's -33.99%.
On 1-year performance, VOO leads with 17.35% vs -45.25% for FBTC. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VOO has performed better with a 17.35% return vs -45.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 0.25% for FBTC.
VOO has the higher dividend yield at 1.08%, compared with 0.00% for FBTC.
FBTC is categorized as Cryptocurrency, while VOO is S&P 500. FBTC tracks Fidelity Bitcoin Reference Rate, while VOO tracks S&P 500 Index. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.25% for FBTC and 0.03% for VOO.
VOO currently has the higher Sharpe Ratio (1.42 vs -1.05), 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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