FBTC vs. YBIT

Last updated Jun 4, 2026

FBTC (Fidelity Wise Origin Bitcoin Fund) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both Cryptocurrency funds. FBTC is passively managed, while YBIT is actively managed. Over the past year, FBTC returned -38.65% vs -35.27% for YBIT. Their correlation of 0.92 suggests significant overlap in exposure. FBTC charges 0.25%/yr vs 0.99%/yr for YBIT.

Performance

FBTC vs. YBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Wise Origin Bitcoin Fund (FBTC) and YieldMax Bitcoin Option Income Strategy ETF (YBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FBTC having a -25.34% return and YBIT slightly higher at -24.59%.

FBTC

• 1D: -2.65%
• 1M: -18.37%
• YTD: -25.34%
• 6M: -29.78%
• 1Y: -38.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YBIT

• 1D: -2.50%
• 1M: -15.67%
• YTD: -24.59%
• 6M: -27.08%
• 1Y: -35.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBTC vs. YBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBTC Fidelity Wise Origin Bitcoin Fund	-25.34%	-6.56%	40.20%
YBIT YieldMax Bitcoin Option Income Strategy ETF	-24.59%	-2.49%	-0.09%

Correlation

The correlation between FBTC and YBIT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Apr 24, 2024	0.92

The correlation between FBTC and YBIT has been stable across timeframes, ranging from 0.92 to 0.99 - a consistent structural relationship.

Return for Risk

FBTC vs. YBIT — Risk / Return Rank

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

FBTC

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

YBIT

YBIT Risk / Return Rank: 2
YBIT Sharpe Ratio Rank: 1
YBIT Sortino Ratio Rank: 2
YBIT Omega Ratio Rank: 2
YBIT Calmar Ratio Rank: 2
YBIT Martin Ratio Rank: 1

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. YBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and YieldMax Bitcoin Option Income Strategy ETF (YBIT). 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	YBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	-0.98	+0.09
Sortino ratio: Return per unit of downside risk	-1.23	-1.35	+0.12
Omega ratio: Gain probability vs. loss probability	0.86	0.84	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.79	-0.78	-0.01
Martin ratio: Return relative to average drawdown	-1.36	-1.43	+0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBTC vs. YBIT - Sharpe Ratio Comparison

The current FBTC Sharpe Ratio is -0.89, which is comparable to the YBIT Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of FBTC and YBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FBTC	YBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.89	-0.98	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	-0.35	+0.65

Drawdowns

FBTC vs. YBIT - Drawdown Comparison

The maximum FBTC drawdown since its inception was -49.33%, which is greater than YBIT's maximum drawdown of -45.54%. Use the drawdown chart below to compare losses from any high point for FBTC and YBIT.

Drawdown Indicators

	FBTC	YBIT	Difference
Max Drawdown Largest peak-to-trough decline	-49.33%	-45.54%	-3.79%
Max Drawdown (1Y) Largest decline over 1 year	-49.33%	-45.54%	-3.79%
Current Drawdown Current decline from peak	-48.00%	-43.10%	-4.90%
Average Drawdown Average peak-to-trough decline	-16.01%	-15.12%	-0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.41%	24.69%	+3.72%

Volatility

FBTC vs. YBIT - Volatility Comparison

Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 9.39% compared to YieldMax Bitcoin Option Income Strategy ETF (YBIT) at 7.77%. This indicates that FBTC's price experiences larger fluctuations and is considered to be riskier than YBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBTC	YBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.39%	7.77%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	34.38%	29.10%	+5.28%
Volatility (1Y) Calculated over the trailing 1-year period	43.61%	36.10%	+7.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.13%	38.63%	+11.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.13%	38.63%	+11.50%

FBTC vs. YBIT - Expense Ratio Comparison

FBTC has a 0.25% expense ratio, which is lower than YBIT's 0.99% expense ratio.

Dividends

FBTC vs. YBIT - Dividend Comparison

FBTC has not paid dividends to shareholders, while YBIT's dividend yield for the trailing twelve months is around 101.02%.

Position	TTM	2025	2024
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%
YBIT YieldMax Bitcoin Option Income Strategy ETF	101.02%	88.33%	60.00%

Frequently Asked Questions

Can I hold both FBTC and YBIT in my portfolio?

With a correlation of 0.99, FBTC and YBIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FBTC or YBIT?

FBTC has higher volatility (9.39%) compared to YBIT (7.77%). In terms of maximum drawdown, FBTC dropped -49.33% vs YBIT's -45.54%.

Which ETF is better, FBTC or YBIT?

On 1-year performance, YBIT leads with -35.27% vs -38.65% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, YBIT has been the lower-risk option at 7.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FBTC or YBIT?

Over the 1-year period, YBIT has performed better with a -35.27% return vs -38.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBTC or YBIT?

FBTC is cheaper with a 0.25% expense ratio, compared with 0.99% for YBIT.

Which ETF pays a higher dividend yield, FBTC or YBIT?

YBIT has the higher dividend yield at 101.02%, compared with 0.00% for FBTC.

What is the main difference between FBTC and YBIT?

They also come from different issuers: Fidelity and YieldMax. Their fees differ too: 0.25% for FBTC and 0.99% for YBIT.

Which has better risk-adjusted returns?

FBTC currently has the higher Sharpe Ratio (-0.89 vs -0.98), 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.