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FBTCX vs. IBIT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FBTCX vs. IBIT

Last updated Aug 1, 2026
Documentation

FBTCX (Fidelity Advisor Biotechnology Fund Class C) and IBIT (iShares Bitcoin Trust ETF) are both funds - FBTCX is a Health & Biotech Equities fund managed by Fidelity, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, FBTCX returned 63.76% vs -44.50% for IBIT. Their 0.23 correlation means their historical movements had little consistent relationship. FBTCX charges 1.75%/yr vs 0.25%/yr for IBIT.

Performance

FBTCX vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Biotechnology Fund Class C (FBTCX) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FBTCX achieves a 23.02% return, which is significantly higher than IBIT's -28.22% return.

FBTCX

1D
0.66%
1M
0.06%
6M
21.37%
YTD
23.02%
1Y
63.76%
3Y*
22.04%
5Y*
10.96%
10Y*
11.21%
ALL TIME*
7.80%

IBIT

1D
-2.89%
1M
2.21%
6M
-24.95%
YTD
-28.22%
1Y
-44.50%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
10.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FBTCX

Fidelity Advisor Biotechnology Fund Class C
$0.00$0.00$0.00

IBIT

iShares Bitcoin Trust ETF
$1.30B$1.34B$1.68B

FBTCX vs. IBIT - Yearly Performance Comparison

2026 (YTD)20252024
FBTCX
Fidelity Advisor Biotechnology Fund Class C		23.02%38.48%-6.89%
IBIT
iShares Bitcoin Trust ETF		-28.22%-6.41%89.87%

Correlation

The correlation between FBTCX and IBIT is 0.21, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.21

Correlation (All Time)
Calculated using the full available price history since Jan 11, 2024

0.23

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Advisor Biotechnology Fund Class C

iShares Bitcoin Trust ETF

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Often compared with IBIT:
IBIT vs. BTC-USDIBIT vs. FBTCIBIT vs. BITOIBIT vs. BITBIBIT vs. GBTCIBIT vs. BTCIIBIT vs. ARKB

Return for Risk

FBTCX vs. IBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FBTCX
FBTCX Risk / Return Rank: 9595
Overall Rank
FBTCX Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
FBTCX Sortino Ratio Rank: 9494
Sortino Ratio Rank
FBTCX Omega Ratio Rank: 8888
Omega Ratio Rank
FBTCX Calmar Ratio Rank: 9898
Calmar Ratio Rank
FBTCX Martin Ratio Rank: 9797
Martin Ratio Rank
IBIT
IBIT Risk / Return Rank: 11
Overall Rank
IBIT Sharpe Ratio Rank: 11
Sharpe Ratio Rank
IBIT Sortino Ratio Rank: 11
Sortino Ratio Rank
IBIT Omega Ratio Rank: 22
Omega Ratio Rank
IBIT Calmar Ratio Rank: 22
Calmar Ratio Rank
IBIT Martin Ratio Rank: 11
Martin Ratio Rank
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.

FBTCX vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Biotechnology Fund Class C (FBTCX) and iShares Bitcoin Trust ETF (IBIT). 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.

FBTCXIBITDifference
Sharpe ratioReturn per unit of total volatility
2.87
-1.04

+3.91

Sortino ratioReturn per unit of downside risk
3.76
-1.57

+5.33

Omega ratioGain probability vs. loss probability

1.45

0.83

+0.62

Calmar ratioReturn relative to maximum drawdown

7.45

-0.87

+8.32

Martin ratioReturn relative to average drawdown

19.74

-1.34

+21.07

FBTCX vs. IBIT - Sharpe Ratio Comparison

The current FBTCX Sharpe Ratio is 2.87, which is higher than the IBIT Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of FBTCX and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FBTCX vs. IBIT - Drawdown Comparison

The maximum FBTCX drawdown since its inception was -64.04%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for FBTCX and IBIT.

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Drawdown Indicators

FBTCXIBITDifference

Max Drawdown

Largest peak-to-trough decline

-64.04%

-53.30%

-10.74%

Max Drawdown (1Y)

Largest decline over 1 year

-9.04%

-53.30%

+44.26%

Max Drawdown (3Y)

Largest decline over 3 years

-37.26%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-37.26%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.37%

—

—

Current Drawdown

Current decline from peak

-3.05%

-50.01%

+46.96%

Average Drawdown

Average peak-to-trough decline

-22.95%

-18.24%

-4.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.40%

34.66%

-31.26%

Volatility

FBTCX vs. IBIT - Volatility Comparison

The current volatility for Fidelity Advisor Biotechnology Fund Class C (FBTCX) is 6.86%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.21%. This indicates that FBTCX experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FBTCXIBITDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.86%

9.21%

-2.35%

Volatility (6M)

Calculated over the trailing 6-month period

17.89%

33.74%

-15.85%

Volatility (1Y)

Calculated over the trailing 1-year period

23.48%

44.46%

-20.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.97%

49.60%

-25.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.47%

49.60%

-25.13%

FBTCX vs. IBIT - Expense Ratio Comparison

FBTCX has a 1.75% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

FBTCX vs. IBIT - Dividend Comparison

FBTCX's dividend yield for the trailing twelve months is around 1.37%, while IBIT has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FBTCX
Fidelity Advisor Biotechnology Fund Class C		1.37%1.68%0.00%0.00%0.00%24.50%9.78%7.92%2.92%0.00%0.00%5.73%
IBIT
iShares Bitcoin Trust ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FBTCX and IBIT have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IBIT has higher volatility (9.21%) compared to FBTCX (6.86%). In terms of maximum drawdown, FBTCX dropped -64.04% vs IBIT's -53.30%.

FBTCX currently has the higher Sharpe Ratio (2.87 vs -1.04), 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.

Portfolio Optimizer

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