FBTC vs. WM
FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while WM (Waste Management, Inc.) is a stock. Over the past year, FBTC returned -39.70% vs -5.72% for WM. At a correlation of -0.06, they often move in opposite directions.
Performance
FBTC vs. WM - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC achieves a -27.39% return, which is significantly lower than WM's 0.71% return.
FBTC
- 1D
- 0.11%
- 1M
- -19.60%
- YTD
- -27.39%
- 6M
- -29.64%
- 1Y
- -39.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
FBTC vs. WM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -27.39% | -6.56% | 94.28% |
WM Waste Management, Inc. | 0.71% | 10.50% | 14.23% |
Correlation
The correlation between FBTC and WM is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | -0.06 |
The correlation between FBTC and WM shifts across timeframes, from -0.18 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FBTC vs. WM — Risk / Return Rank
FBTC
WM
FBTC vs. WM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and Waste Management, Inc. (WM). 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 | WM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.96 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.36 | -0.42 |
| Martin ratioReturn relative to average drawdown | -1.37 | -0.79 | -0.58 |
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Drawdowns
FBTC vs. WM - Drawdown Comparison
The maximum FBTC drawdown since its inception was -52.07%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for FBTC and WM.
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Drawdown Indicators
| FBTC | WM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.07% | -77.85% | +25.78% |
Max Drawdown (1Y)Largest decline over 1 year | -52.07% | -16.70% | -35.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.14% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.07% | — |
Current DrawdownCurrent decline from peak | -49.42% | -10.24% | -39.18% |
Average DrawdownAverage peak-to-trough decline | -16.46% | -17.69% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.61% | 7.58% | +22.03% |
Volatility
FBTC vs. WM - Volatility Comparison
Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 11.97% compared to Waste Management, Inc. (WM) at 6.13%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | WM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 6.13% | +5.84% |
Volatility (6M)Calculated over the trailing 6-month period | 34.39% | 14.08% | +20.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 19.03% | +24.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.13% | 18.62% | +31.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.13% | 19.54% | +30.59% |
Dividends
FBTC vs. WM - Dividend Comparison
FBTC has not paid dividends to shareholders, while WM's dividend yield for the trailing twelve months is around 1.61%.
| 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% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Frequently Asked Questions
FBTC and WM have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBTC has higher volatility (11.97%) compared to WM (6.13%). In terms of maximum drawdown, FBTC dropped -52.07% vs WM's -77.85%.
WM currently has the higher Sharpe Ratio (-0.32 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.
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