FBTC vs. YBIT

Last updated Aug 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 -43.65% vs -40.05% for YBIT. Their correlation of 0.92 means they have usually moved in the same direction. 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

In the year-to-date period, FBTC achieves a -27.08% return, which is significantly lower than YBIT's -25.71% return.

FBTC

• 1D: 1.61%
• 1M: 3.87%
• 6M: -18.12%
• YTD: -27.08%
• 1Y: -43.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.58%

YBIT

• 1D: 0.92%
• 1M: 2.51%
• 6M: -15.72%
• YTD: -25.71%
• 1Y: -40.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -12.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBTC Fidelity Wise Origin Bitcoin Fund	$185.12M	$202.75M	$237.85M
YBIT YieldMax Bitcoin Option Income Strategy ETF	$603.44K	$410.45K	$548.08K

FBTC vs. YBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBTC Fidelity Wise Origin Bitcoin Fund	-27.08%	-6.56%	40.10%
YBIT YieldMax Bitcoin Option Income Strategy ETF	-25.71%	-2.49%	1.40%

Correlation

The correlation between FBTC and YBIT is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (All Time) Calculated using the full available price history since Apr 23, 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 historical risk-adjusted metric ranks 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: 3

YBIT

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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	YBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	-1.09	+0.10
Sortino ratio: Return per unit of downside risk	-1.45	-1.58	+0.13
Omega ratio: Gain probability vs. loss probability	0.84	0.82	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.85	+0.03
Martin ratio: Return relative to average drawdown	-1.26	-1.31	+0.06

FBTC vs. YBIT - Sharpe Ratio Comparison

The current FBTC Sharpe Ratio is -0.99, which is comparable to the YBIT Sharpe Ratio of -1.09. 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.

Drawdowns

FBTC vs. YBIT - Drawdown Comparison

The maximum FBTC drawdown since its inception was -53.35%, which is greater than YBIT's maximum drawdown of -47.46%. 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	-53.35%	-47.46%	-5.89%
Max Drawdown (1Y) Largest decline over 1 year	-53.35%	-47.46%	-5.89%
Current Drawdown Current decline from peak	-49.21%	-43.94%	-5.27%
Average Drawdown Average peak-to-trough decline	-18.22%	-17.21%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.76%	30.54%	+4.22%

Volatility

FBTC vs. YBIT - Volatility Comparison

Fidelity Wise Origin Bitcoin Fund (FBTC) has a higher volatility of 8.89% compared to YieldMax Bitcoin Option Income Strategy ETF (YBIT) at 6.52%. 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	8.89%	6.52%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	33.75%	28.27%	+5.48%
Volatility (1Y) Calculated over the trailing 1-year period	44.38%	36.98%	+7.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.44%	38.13%	+11.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.44%	38.13%	+11.31%

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 99.60%.

Position	TTM	2025	2024
FBTC Fidelity Wise Origin Bitcoin Fund	0.00%	0.00%	0.00%
YBIT YieldMax Bitcoin Option Income Strategy ETF	99.60%	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 (8.89%) compared to YBIT (6.52%). In terms of maximum drawdown, FBTC dropped -53.35% vs YBIT's -47.46%.

Which ETF is better, FBTC or YBIT?

On 1-year performance, YBIT leads with -40.05% vs -43.65% for FBTC. On fees, FBTC is cheaper at 0.25% per year. On volatility, YBIT has been the lower-risk option at 6.52%. 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 -40.05% return vs -43.65%. 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 99.60%, 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 (-0.99 vs -1.09), 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.